Growing a small business from nothing is one of the most difficult things you can do. According to the U.S. Bureau of Labor Statistics, 20% of small businesses fail within the first year. One of the main reasons is a struggle with cash flow problems.

However, we’re not giving you this knowledge in order to discourage you. By combatting and rising above your cash flow problems, you’ll be able to build a solid foundation for your business going forward.

With this in mind, read on to learn our top three tips for small businesses to increase revenue!

1. Enhance the Customer Experience

First and foremost, you want to have a strong handle on what your customers want and what they’re experiencing during their customer journey. With a strong focus on this, you’ll be able to identify key pain points that are keeping customers from becoming return clients.

This may mean improving your website so it’s easier to navigate to the checkout page. You might want to incorporate intergrated payment systems into your software to make it easier for customers to checkout without leaving the app. It’s a constant process of adding, tweaking, and reverting in order to give your clients the best experience.

2. Boost Your Sales Strategies

One issue may be that you aren’t using the right sales tactics in your copy. While the content on your site should be entertaining and informative, it’s also important that you also have a sense of urgency in your sales copy. Here are a few recommendations:

• Creating clear calls-to-action that tell visitors the next step
• Discounts for customers who sign-up for mailing lists
• Bonuses or freebies for customers who purchase within a timeframe
• Offering certain items or services for a limited amount of time

You can see how these tactics will help some customers to cross over their initial hesitation and convince them to make a purchase. Your online revenue will increase over time with the convincing copy!

3. Enhance Pricing Strategies

If you have a lot of traffic to your website but not enough sales volume, there may also be an issue with your pricing strategies. Make sure that your pricing meets your customers’ expectations and is the same as or lower than your competitors’ pricing. You may also want to incorporate tiered pricing for your goods or services.

Tiered pricing helps incentivize customers to purchase in bulk in order to receive discounts. For instance, purchasing a pack of 5 will cost $10, but a pack of 10 might be more tantalizing if it’s only $17 versus $20.

It’s also important to do research into other pricing strategies such as volume and package pricing. Depending on your industry or vertical, one might make more sense than the other!

Increase Revenue With the Right Tactics

These tips to increase revenue are the foundation for a much larger strategy that will help you outlast the first year. It’s important to start out with solid goals, a mission statement, and a solid understanding of your target audience. From there, you’ll be able to create a seamless customer journey that will take visitors to your homepage to the checkout page far more often.

Ready for more ways to increase your business revenue? Keep reading our blog for more actionable tips and strategies!

Starting your own business is a lot of work in itself, but the fun comes in when you’re deciding on what to call your business. With many people competing for customers across various niches, figuring out how to come up with a business name that will set you apart from your competition can be tricky.

We’re going to give you business name ideas and tips to help you find the right one for your business. What are you waiting for? Your business isn’t going to name itself.

Be Original

We understand that sometimes going with an obvious name is the best way to go, but with various businesses in one sector, having too many similar business names can confuse customers. When coming up with your business name, choose one that’s unique and will pique customers’ interest.

When they see your business name, they’ll want to know more about the company and the story behind the name.

Think Long Term

The name you choose for your business is here to stay, and that’s why you should make it one that can withstand the long haul. We mean that if you currently market services towards children but intend to broaden your target audience in the future, don’t choose a name specifically directed at children.

In the future, you would need to alter the name to let others know that you now service more than just kids within your business.

Keep It Simple

Sometimes less is more, especially when it comes to the name of your business. You want it to be straight and to the point, not a name that customers have a hard time saying or is too long to fit properly on a business card.

Test It Out

If you’ve come up with a business name, but you’re not sure if it’ll work, test it out. Say the name out loud and paste it into the company logo design to see how it works.

You should also see how the name looks in an email or business newsletter. This is key to deciding if a name is right for you.

Make Sure It’s Available

The last thing you want to do is go through the process of selecting a business name and then finding out that it’s already taken. Once you come up with a list of names that you might use for your business, check to see if they are available.

There are tons of platforms like opstart.ca that allow you to search for a business name before you begin putting it on all company documentation.

Business Name Ideas: Tips to Achieving the Perfect Name

There are tons of business name ideas out there that you can use to name your business. The tips we’ve provided will ensure that you find the right name for your business, like ensuring the name is available and keeping it simple.

We hope this post had the information you were searching for. Now that you’ve decided on the name for your company, check out our other posts.

Do you feel lost among the daunting prospect of spending large amounts of money on a chemical supplier?

You aren’t alone. But it’s good to know that businesses in the manufacturing sector have many options for sourcing their chemical supplies.

This article discusses four key considerations to take into account when selecting a supplier when buying chemical supplies. Read on to learn more!

1. Delivery Speed

Buyers and sellers in the chemical and materials industry have several options for getting products from point A to point B.

Usually, there are two main delivery options: air or ground. It’s good to know that you can have the product shipped by air within a matter of hours, or you can have it delivered by truck or rail within six days.

Buyers need to cut their costs and ensure that their shipments arrive on time. Minimizing the number of days required for a stock-up order, which consists of many items, is essential. They may need special handling and customized packaging that adds extra costs to each item packed into a pallet.

2. Product Availability

Suppliers can have a large selection of products, but not all products are available at all times. It’s vital because when a buyer orders a product, it needs to be available in the inventory. The supplier needs to know how fast they get it shipped to you in time.

Some suppliers offer lead times for their items that specify how long it usually takes before ordered item ships. Still, if you get an order request at the last minute, this lead time won’t do you much good.

The best suppliers will be able to discover more and ship hard-to-find items fast, without incurring any extra expenses or waiting periods for delivery.

3. Pricing Structure

Most buyers worry about the cost of their chemical supplies, plain and simple. There’s a reason why everyone wants to buy products at the lowest prices possible. The chances are that your business is not in a position where it can afford to sell products with no regard for cost.

That’s why you want to work with suppliers that offer reasonable prices for products. Great suppliers can provide competitive prices but don’t cheapen their service or customer support because of it.

For example, you want suppliers who offer best-price guarantees, so they’re giving you the best price possible and not passing along savings from service reductions. To find the best prices and terms, you’ll have to do some research by shopping around different suppliers.

4. Inventory Handling Capabilities

In general, suppliers can handle small orders. Still, when buyers need large quantities of products, providing a prompt service is one of many challenges faced in distribution. The right supplier can manage and maintain a large inventory that allows them to ship items within 30 minutes.

When shopping around, it’s good practice to ask about these inventory holding capabilities. That way, you know if the potential supplier will handle your orders as and when they come in.

Purchasing Chemical Supplies

There are, of course, several other factors that can affect your decision. These are more specific such as terms and conditions as well as returns policies.

But now you’re armed with the four most significant factors. You can make choosing the right chemical supplies with confidence.

For more insightful information to help your business grow, keep reading our top tips!

The demand for project managers is growing. The role expands across industries and is essential to any business running projects, which is almost every company out there! The Project Management Institute estimates that from 2021-2027 over 22 million new project management roles will open up.

So, why do you need to hire a professional project manager? Here we’ll break down the top five reasons you will benefit from having a project manager in your business.

1. For Time Management

The employees involved with the project may not grasp how long each of their tasks will take. A project manager will manage each task’s timeframe to ensure the deadlines for the project are met.

If there’s tight management over deadlines, it will also ensure the work’s quality doesn’t slip. Sometimes rushing to meet a deadline will hinder the quality of the work. With someone else in charge of time management, the team can concentrate on their work and not worry about every moving part of the project.

2. To Manage Team Communication

Sometimes different team members from various departments can struggle to communicate what they need from one another. A project manager will support this. They will ensure the scope and objectives are clear to everyone on the team and ensure each department is aware of their responsibilities with the project.

3. Project Managers Provide Motivation

Good project management will provide the team with clear guidelines and motivation to complete the project. The project manager’s role is to minimize any stress felt in the team and support them with getting the work done.

4. To Keep an Eye on the Bottom Line

The role of the project manager is to monitor the project budget. If one person always has an overview of costs and expenses, it is more likely that the project will be completed within or below budget.

The project manager will be in charge of contracts or resources which need to be procured. Their job is to ensure these are negotiated in the most cost-effective way for your business.

5. Hire a Professional Project Manager for Problem-Solving

A project manager is trained in risk assessment and will have strategies to avoid making risky decisions. Problems or roadblocks are inevitable when managing a big project. But, with a project manager leading, the process of finding solutions will be smoother.

If you’re looking for project management for your fulfillment projects, get to know more here.

Run Your Project Efficiently With a Project Manager

The efficiency with which you run your projects ultimately affects your bottom line. The upfront cost of a project manager may seem like a significant expense. The money they will save you with running your projects efficiently will outweigh the investment in the long run.

With a professional project manager, you will have timely, quality, and well-managed work. Your teams will feel like they can work effectively together if they have someone driving them towards a common goal.

For more advice on how to run your business more efficiently, take a look at some of the other articles on the blog.

Many small business owners wonder: what is business financing? And how can it impact you and your bottom line?

Getting financing for your business can be a great asset that helps you expand. It’s also a great way to acquire funds to upgrade or continue running your business as it is now.

The key to financing your business, though, is to understand what you should look for in a borrower. Financing is an important decision that shouldn’t be rushed.

In this article, we’ll review everything you need to know about it so you can make an informed choice for your company.

What Is Business Financing?

Business financing is the process to raise money for your company. Typically those funds are used to get a new business off the ground, help maintain a current one, or expand an already-existing entity.

There are different forms of business financing to consider. In most cases, the company owner(s) goes to the bank and takes out a loan. This gives them a quick influx of cash that gets paid back over the course of a few years with interest.

In some cases, though, financing your business can get creative. Newer forms of lending like business-to-business financing skip over traditional methods.

If you’re looking for something reliable and proven, business financing through a bank is probably your best bet. (And if you’re in the market, Credova financing is an awesome option!)

Benefits of Business Financing

There are many benefits to small business financing.

Bringing new money into the company makes new things possible no matter what stage your business is at. For example, an influx of cash might finance your entire operation to get it off the ground. Or it could be used to improve current systems to help you become more efficient.

In many cases, business owners choose to take on debt to grow. As the old saying goes, you have to spend money to make money sometimes. Acquiring a large sum all at once allows you to hire new staff, expand operations, or enter into a new market entirely.

Among the other benefits, business financing frees up cash flow, boosts sales through increased marketing efforts, and may even help attract new customers. Companies see your recent growth and are more likely to do business.

Potential Drawbacks of Business Financing

Of course, every decision has potential drawbacks to consider. That is no different for financing a business.

The drawbacks really depend on which stage of your business you’re at.

For new business owners, taking on debt could change the trajectory of your startup. Some lenders have very strict guidelines in place for startup companies to ensure they get their money back. If you’re hoping to be fast and loose with your new enterprise, taking on debt could derail that.

For existing businesses, bank loans appear on the liability side of your balance sheet. If you’re considering selling your business in the next few years, that debt could prove costly when it comes to evaluations.

And in almost all cases, collateral is required. This means that, in the event that you are unable to pay back your loan, the bank or lender can seize your assets. This could mean things in your business or even personal assets.

Rates and Credit

When you take out a loan, you pay the bank back over the course of several years with interest. In all cases, the interest rates a lender can offer matter.

An interest rate of even one percent difference could save your business thousands of dollars over the years. Getting a lower monthly payment could free up cash flow, but might ultimately prove to cost more than it’s worth.

These are decisions you need to consider carefully or talk over with your business partners.

Your credit score also comes into play. If it’s low, you might not be able to get a good interest rate or borrow much money unless someone cosigns it. Be sure to know your score when shopping around for deals.

How To Know if Business Financing Is Right For You

The best way to decide if business financing is right for you is to honestly assess your current position.

First, what would an influx of money do for you that you otherwise couldn’t achieve? Is a business loan a want or a need?

Next, consider other ways you could bring in the money. Instead of taking on debt, might you be able to sell some assets or cut expenses somewhere? Freeing up liabilities might give you the cash flow you need to achieve the goals you’ve set.

If, after looking over your numbers and considering your options, you determine this is the path for you, then you can proceed.

Every business owner would like more cash and has grand plans for their company. But thinking these decisions through with a clear mind and basing your choice on the numbers is always the smart play.

Financing Your Business

Business financing can be an amazing asset for starting, growing, or even maintaining your company. There are many perks to infusing cash into your business. But it doesn’t come without drawbacks as well.

Be sure to consider things like your credit score and the interest rates and the total payback of the loan. Also, consider which assets you might have to list and if you’re comfortable doing so. Finally, make sure taking out a loan for your company is a need, not a want.

Doing this research on the front end will set you up for success down the road. For more business tips, be sure to check out our blog!

Raising capital for a new business can be difficult. If you aren’t dealing with disappointment issues, you’ll definitely be faced with challenges around finding the right funding option. Regardless, you can save yourself the stress of sourcing money and increase your chances of getting funds by opting for crowdfunding.

Crowdfunding helps you get to potential investors easily. It also gives you an edge when it comes to generating publicity for your business.

But then, you can hardly ever talk about crowdfunding without making mention of Ideazon. No, Ideazon isn’t the only crowdfunding agency that there is. But it is the best you’ll find out there.

By launching your campaign with Ideazon, you can achieve leverage, interact with backers, and scale up your profitable ideas without spending much. You can as well access crowdfunding promotion and consultancy services to kickstart your new business.

In this post, I’ll share tips on how agencies like ideazon help you stand out as a business owner. From fund raising to strategy analysis down to project execution, there’s no doubt you’ll find these tips helpful. Keep scrolling!

• Business Exposure

The problem of business exposure is one every business starter might be confronted with at one point or the other. No matter your expertise, you’re likely to remain dormant if no one gets to discover your products.

However, with crowdfunding agencies, you can push your products to potential investors and promote your business in the best ways possible. You don’t have to break a sweat or go through thick and thin.

You also do not have to be the next big thing in town. Once your product is perfect and worth every single hype it gets on an initial advertisement, you’d generate maximum exposure.

• Availability of funds

It is no news that the global pandemic is taking a heavy toll on crowdfunding. Employment rates are dropping and a lot of people are trying hard to keep up the covid-19 realities. But nevertheless, you can raise funds with agencies like Ideazon.

Ideazon, for instance, will inject life into your plans, get your ideas on the run, and back up your crowdfunding campaign from start to finish.

• Community building

To succeed as a business owner, you must be able to meet both present and future demands of consumers. And this is exactly what crowdfunding does.

Crowdfunding agencies do not only seek to solve funding problems. They also give you a platform to build a community around your product. If you’ve got enough demands for your products, you will definitely need some exposure and smart feedbacks to keep floating.

• Revenue generation

Crowdfunding agencies help limit the risks associated with revenue generation. Besides funding and community building, they give leverage to manufacturers to sell products before launch. This way, businesses can improve productivity and reduce production costs.

An excellent pre-launch sale (or pre-order campaign, as the case may be) will surely lead to a boom that’d result in more sales after the product is launched officially.

If you are looking for more resources to maximise your chances of crowdfunding success, visit Ideazon’s blog at https://ideazon.medium.com/.

 

So you have these brilliant business ideas. You’ve managed to implement those ideas and come up with a business plan. The plan is laid in detailed manner; you don’t hold back when it comes to making sure that the startup you’re about to nurture into successful business practices is a well-oiled machine. You’ve covered your bases well and comprehensively and you feel satisfied of everything. Until you stumble upon the one crucial thing that you didn’t think will be a source of headaches at first: Staffing. And at that point, you are hit with one big moment of truth: While you’re good at coming up with a business idea and planning strategies, you’re nowhere effective when it comes to recruiting workers.

You now have to think about requirements to describe what kind of individuals you want to work with you. You now have to think about how much of salary is decent enough to offer to potential candidates. You now have to think about allowances, benefits, and all other sorts of thing that are imperative in making your staff feel comfortable enough to help you materialize your dream of running a business empire. This, at the very least, will only add more burdens on your shoulder. So, why not take the burdens off with the help of a staffing agency?

“What kind of agency is that exactly?”—you may ask. Well, by definition, it’s simple enough. Said agency is where you can seamlessly and effortlessly pick individuals to add to your company’s roster. The presence of this agency pretty much reduces the workload of the HRD—if not completely eliminates some of them. The HR staff can now focus more on supporting other departments without having to sorting through the many applications coming into company emails. The purpose of this is to make it all more streamlined and concise—assuming you have already formed an HR department within your company, that is. If it’s the other way around (you’re struggling practically on your own, including reviewing received job applications on the inbox), the help of said agency will be an utmost blessing.

All you have to do is register to an agency, describe and determine job positions and their requirements, and the service will work its magic, selecting available individuals to fill the positions in. While the service is still on the lookout for a potential candidate, you can now redirect your focus, time, and energy toward perfecting your business plan, sharpening it in a way that even the most difficult of all investors can’t say no to your proposal.

A service of a temp agency is also available if you’re currently running a company and in need of a staff to fill a position in for a temporary contract. Suppose there’s a position vacant within the company and you have already set a deal with someone but that person isn’t available yet for a certain time range. You can hire a temp staff to fill in until the contract is up and your chosen individual is already available.

 

Did you know that less than a quarter of businesses uses project management software? As a result, half of all businesses say that they spent at least one whole day manually compiling project management reports.

These statistics alone show that project management software can save your business a huge amount of time. It also has the potential to put you ahead of your competitors who are still missing out on all the benefits that this software has to offer.

Just what are those benefits?

Read on to learn more.

1. Less Time Planning, More Time Doing

As we have already seen, one of the major benefits of project management software is the time it can save you.

Not only will you save time preparing reports, but you can also take advantage of the automation features of the software when it comes to scheduling. The time that you save can be put to better use elsewhere in your business.

That means that the cost of your software will be far outweighed by the savings you can make.

2. Cut Down Bottlenecks

It’s not always easy to spot a bottleneck in your project until things start to grind to a halt, slowing everything up and throwing your timescale out of the window.

Project management software is ideal for spotting where resources will be tight and helping to manage them in the most effective way.

3. Improved Collaboration

Collaboration is the key to any successful project. Project management software is designed with collaboration at heart.

Users are able to collaborate on projects through the software, including the ability to discuss project tasks, collaborate on timelines, share outstanding tasks, and more.

Even something as simple as creating a Sharepoint list can help your project flow more smoothly.

4. Budget Management

Have you ever experienced that sinking feeling as a project budget spirals out of control?

Project management software allows you to track your budget in real-time, comparing your planned spend against your actual spend. You can also more easily find those black holes that are sucking up all of your budget.

5. Real-time Reporting

If you spend a day collating a report, then by the time anyone sees it, that report is already out of date.

Project management software allows you to generate reports in real-time. That means you’re never having to play catch up with out of date information; you can see what’s happening with your project as it happens.

Are You Looking for Project Management Software?

If you don’t already use project management software, then you should start looking for some now.

As you can see from the list above, the benefits project management software offer can make a big difference to your business, and this is by no means an exhaustive list. Try out some of the software options today and see the benefits for your own business.

If you found this article useful and you’re looking for more great content, then be sure to check out the rest of the site.

2020 was a hard year for businesses and consumers alike, with people having to stay at home in order to remain safe. Buying habits changed and so did the needs of the consumer, which left businesses having to adapt quickly and effectively.

This article will look at the shopping habits of 2020 and how the year will change buyer behaviour forever.

2020 Shopping

People of all ages across the world had to turn to online platforms to shop for both essential and non-essential items in 2020, but according to a survey carried out by CallCare247, 43.25% of shoppers still want to shop in physical stores. This may come as a pleasant surprise to many, but it appears consumers do like the in-store experience.

The pandemic did not stop people spending either, with respondents saying they spent just as much as they usually would on items. This is a good sign for businesses, with both a physical and online store.

This survey was undertaken towards the end of 2020 and therefore, respondents were well aware of the changes to in-store shopping at this point. Whilst many are not deterred by shopping in-store, the majority of people plan to shop online more in 2021 (61.38%).

2021 Shopping

There is no doubt 2020 changed the shopping experience forever with most items being readily available online. It’s not just physical items either, but services with travel agents and estate agents offering a more virtual approach.

The virtual approach is more convenient for many, as people don’t have to leave their homes and make physical contact with others. This is one of the biggest changes to come from 2020. Even high contact businesses had to adapt and became more virtual in order to provide a contactless/minimum contact service.

These changes are set to be here for a long time as businesses and the government have invested in technology to ensure many services can still deliver.

Post COVID Shopping

As we look further into the future, the shopping experience is set to become even more reliant on technology, as consumers look for brands to entertain and communicate with them on a more personal level. This is not to say that the physical store won’t have its place, but the shops we see on our high streets are set to be quite different, with virtual assistants and plenty of space.

In order to provide a traditional store, retailers will need to go to extra lengths to provide a high level of service and a clean environment in order to build consumer confidence again.

Starting a business can be exciting and stressful at the same time. One type of business that is fulfilling and creates a viable source of income is a dairy business. The dairy industry has grown by 3.4% compared to last year.

Selling dairy products is also great because it can strengthen local economies. If you are looking to start a dairy business, it can be helpful to know what you need to do. Here’s a simple guide about starting a dairy business.

Create a Business Plan

Like any business, creating a business plan will help you focus on specific steps to making your dairy business successful. You want to create long- and short-term goals as well.

The business plan for your dairy business should include all the resources you have and all the resources you will need.

Your business plan should provide marketing details like how you will advertise your milk tanks for sale. Including elements such as cash flow and expenses will help make your dairy business better.

Seek Expert Advice

When running a dairy business finding an expert or a mentor can help in so many ways. Learning from others who have a successful dairy business can help you avoid certain mistakes.

It’s best to seek mentorship as you develop your business plan. This way you can get industry insight before you get things up and running.

Develop a Plan for Feeding and Cropping

Determining how you are going to feed your cows is one of the most important aspects of a dairy business.

Since cows used for dairy need certain ration levels you are going to want to feed them a total mixed ration or TMR. Working with a nutritionist, in this case, will yield the best results on how to feed your lactating cows.

When you are starting a dairy business, it takes time to plant and harvest your crops. Not to mention there is special equipment that is needed to accomplish a certain task. Creating a plan for feeding and cropping can make all the difference for your cows and your dairy business.

Understand the Investment Requirements

A dairy business does not come cheap as it requires a large capital investment. When starting a dairy business you have to consider the cost of land, equipment, cows, and buildings. You do have the option of buying cows first and then renting your farmland.

Understanding the investment requirements for a dairy business can save you a lot of problems in the future.

Construct a Waste Management Plan

When raising dairy cows, you can expect them to produce a lot of manure. It is important to construct a plan for how you will deal with this waste.

Having the right management plan in place will help you make adjustments to your cropping and feeding program when necessary. While you are able to use manure for fertilizer, including composting and anaerobic digestion of manure, finding other manure management options can provide additional revenue for your dairy business.

A Dairy Business Requires Great Care

You can feel an immense sense of achievement once you start your dairy business. Building your dairy business will take a lot of hard work and dedication. Yet, by following the advice in this guide you can begin the process of building a successful one.

If you enjoyed reading this article, you can find similar content by visiting our website.