How to Handle Outstanding Invoices
If you own a business, it’s likely you’ve encountered a customer or client who’s late in making a payment for goods or services you provided. Late payments can sometimes drag on for months or even years. Clearly, you don’t make money if you don’t get paid. So, it’s important that you follow up. But what’s…
Read MoreWhat Costs Are Involved When Selling Your Business?
When planning to sell your business, it’s essential to understand that you will inevitably face certain expenses once the sale process gets under way. And it’s only by factoring in these additional costs that you can arrive at a true estimate of what your net profit from the exercise is likely to be. So, here’s…
Read MoreLeadership is Not About “Monitoring”
Too often when I speak to sales managers, they focus on “monitoring” their sales people. They constantly focus on: Where they are on MTD, QTD, YTD numbers? Do their pipelines have the right volume/velocity of opportunities? Are the sales people hitting their goals on prospecting calls, customer meetings, and so forth? Are they keeping CRM…
Read MoreMoney Talks: How to Save Cash with a Hosted Communications Network
Slick, efficient communication is vital at various tiers of a business—and small businesses are no exception, especially when they are reaching out to potential new customers. All the same, you might currently rely on a traditional, onsite PBX unit for your company’s phone system. While this system might not seem “broken” to you, there are…
Read More4 Must-Have Competencies for SME Marketers
Small business marketers are very different from their colleagues who work in large companies. The former often work alone or at most with one or two colleagues and are responsible for the marketing framework in which they work. The latter are integrated into teams based on specific expertise and work within an imposed marketing framework…
Read MoreFranchise or Business Opportunity?
As you do your initial research to own your own business you will discover that the majority of businesses fall into one of two business formats. A business opportunity or a franchise. Knowing the differences between these two formats before investing is very important. Businesses often cost less than a franchise but there are pros and cons…
Read MoreAmericans Abroad on Self-Employment Taxes on Foreign Income
How does self-employment tax work for those Americans, who live abroad, travel the world and work for themselves? Well, you still have to pay US taxes on foreign income if you are a freelancer, independent contractor, digital nomad or entrepreneur abroad. Yes, US tax laws apply no matter where in the world you live and…
Read More11 Essential Things to Consider Before Starting Your Own Tech Business
Technology is one of the fastest growing segments in business startups. If you think about starting a tech business, you may wonder how you’ll stand out amidst all the competition and what exactly it takes to run a tech-based biz. Around 58 percent of businesses in North America and Europe believe revenue will increase this…
Read More3 Ways to Engage Customers After the Sale
Conventional advice says it costs five times more to acquire a new customer than retain a current one. Yet companies often invest more time and energy into gaining new customers instead of keeping the ones they have. This strategy is unsustainable for companies in the long-term. An influx of new customers is always great, but…
Read More5 Keys to Relying on Intuition in Business Decisions
With all the progress in analytical tools and big data available, many people feel there is no place in business today for intuition and gut instincts. As an advisor to entrepreneurs for many years, I strongly disagree, and still see the value of at least combining intuition with logical analysis, as we face customers and…
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