You could use the loan to fund payroll, inventory, marketing campaigns, or other things that can fuel your businesses growth.I just didn't want to deal with the whole process of going through a bank—I wanted to focus on the business. A traditional loan felt cumbersome and more restrictive...
Lastly, some businesses are meant to be small businesses. It’s OK if you want yourside hustleto remain a side hustle. It all comes down to your personal priorities, lifestyle, and financial situation. 6 steps to scale your business There’s no one formula for scaling a business, because...
A business line of credit is a good way to protect your business against cash flow problems. You may get a line of credit for a percentage of your accounts receivable or inventory if you use them as collateral. Look for cards with rewards, such as points you can use toward travel or bu...
Running a business from home also opens up the opportunity for creativity in utilizing and optimizing your available space. With no need to adhere to the traditional office layout, you can shape your work environment to inspire creativity and productivity. This could mean setting up your office in...
What to do today:Start by making a list of core processes that run your business. Leave no stone unturned: communications, marketing, inventory, customer service, accounting, hiring, etc. If needed, hire a consultant to help you. Update Your Technology ...
Tangible assets are physical assets that are used for regular business operations and lose value over time. They include things like real estate, equipment, inventory and cash on hand. Intangible assets are things that hold value, but cannot be seen or touched. They include things like patents...
If business has been booming and you’re bringing in new customers, maybe you invest in buying more inventory to satisfy increased demand. Creating a business budget from scratch can feel tedious, but you might already have access to tools that can help simplify the process. Your small-...
The world of e-commerce has witnessed a significant shift with the rise of dropshipping. This business model offers entrepreneurs a low-risk entry into the market, allowing them to sell products without holding any inventory. However, success in dropshipping doesn’t come easy. A crucial factor...
Optional: Business plan cover page Adding a business plan cover page can make your plan, and by extension your business, seem more professional in the eyes of potential investors, lenders, and partners. It serves as the introduction to your document and provides necessary contact information for ...
Every business is different. A food truck, which might need to simply process payments, will have vastly different needs than an upscale restaurant chain that may benefit from a cloud-based POS system that can “talk” to each location, allowing centralized inventory management, explains...