Small Business Tips

Owning a small business often means wearing every possible hat available, from marketer to sales clerk and inventory manager to HR professional. Learn from the experiences of the small business owners who are NFIB members as well as the best experts for each industry. Below you will find small business tips for everything from taxes and regulation to promotion and networking.

What to Expect When You Work With a Collections Agency - MyBusiness Extra

Posted On: May 03, 2010

Many small businesses are nervous about turning their past-due accounts over to a collection agency. But in this economy, that may be the only way to get delinquent customers to pay up. Emil Hartleb, executive director of the Commercial Collection Agency Association in Cedar Grove, N.J., says collection agencies can help small businesses be more aggressive about their collections...

5 Steps to Finding the Right Supplier

Posted On: March 11, 2010

Whether you’re running a startup or a long-standing business, finding the right supplier can be a challenge for any small business owner. Suppliers can help propel your business to success, or can make you (and your customers) miserable. And while price is key factor in finding the right supplier for your business, several other ingredients make for the right...

5 Keys to Market Research Success: Know Your Competitors

Posted On: March 09, 2010

Whether you’re starting a new business or have been running one for years, knowing the strengths, weaknesses and offerings of your competitors is vital to your company’s success. That’s why small business owners must make market research an integral part of their business strategy, says Scott Gingold, CEO of New York- and Eastern Pennsylvania-based Powerfeedback, a market research company. “If...

10 Cross Promoting Ideas for Your Company

Posted On: January 19, 2010

Cross promotions can save businesses time and money and increase advertising exposure, since more than one business can team up to launch a dynamic campaign. During one holiday, for example, GameStop and PayLess ShoeSource partnered up on a cross-promotional campaign. Shoppers at the video game retailer received register coupons for the shoe store, while shoppers at PayLess got discount coupons for...

How a Business Incubator Can Help Your Startup

Posted On: December 29, 2009

Small Business Incubation Centers Offer Experts and Office Space If you’re considering starting a small business, but would feel more comfortable using some experienced outside assistance, an incubator could be the ticket. No, not the type incubator used for baby chicks — but rather a business incubation center. Such a center does more than assist you in getting your business off...

Parts of a Business Plan: 7 Essential Sections

Posted On: September 24, 2009

The task can seem overwhelming, but writing a business plan is an important step in helping your company launch, grow, and thrive. Business plans provide vision and a clear strategy. They’re also critical for businesses seeking funding. But where should you start, and what should you include? Like most daunting projects, drafting a business plan is best done step by step....

9 Tips for Starting a Business While You're Still Employed

Posted On: September 22, 2009

Most new entrepreneurs keep their job until their new venture is established and generates enough income to pay the bills. But launching your own enterprise before you quit your job isn’t easy. While you juggle a job and a new business, keep the following advice in mind: Put Your Job First Always remember that until you hand in your resignation, your job comes...

The Importance of Healthy Cash Flow for Small Businesses

Posted On: September 11, 2009

No company buys what it needs or pays its employees out of profits. Certainly profits are a source of capital for expansion and debt reduction, as well as for the eventual ability to pay bills and meet payroll, but wages and other expenses must be covered with cash. A business can survive indefinitely if it doesn’t run out of cash,...

Design Advice for a Do-It-Yourself Direct Mail Campaign

Posted On: September 07, 2009

You’ve decided to launch a direct mail campaign, so you call a few graphic design firms. Yikes! Sticker shock sets in when you’re quoted high hourly fees to create a postcard touting your new product or a flyer about your services. Before you hire a pricey agency, consider designing your direct mail project in house. A do-it-yourself (DIY) project doesn’t mean...

Choosing between an S-Corp. and Limited Liability Company

Posted On: March 04, 2009

It’s smart to protect personal assets from business debts and liabilities. Both owners of S Corporations and Limited Liability Companies enjoy limited personal liability. By contrast, sole proprietors and partners have unlimited personal risk. Traditionally, business owners who chose to form an entity to protect personal assets but allow income and losses to be reported on a personal tax return had...

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