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The Benefits of Credit Checks For Small Businesses

The Benefits of Credit Checks For Small Businesses

You have to get paid for your services and products to stay afloat, but knowing which customers will be good payers and which ones will take you for a ride can be a tricky business. It may be worth while to learn how credit checks can help you.

Whether you are thinking about supplying a new customer or you are already selling them your products or services, getting credit information on them can cut down your risks of invoices going unpaid. A credit check is essential if you’re thinking of extending credit to a customer. If you can see past and present information on how firms pay their invoices you can make quicker decisions about doing business with them and put your mind at ease.

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My Crazy Project – Read 52 of the Best Business Books in 52 Weeks, and Post a Weekly Review

My Crazy Project – Read 52 of the Best Business Books in 52 Weeks, and Post a Weekly Review

“You wasted $150,000 on an education you could have got for a buck fifty in late charges at the public library.”
– Will Hunting (played by Matt Damon), Good Will Hunting. First of all I want to introduce myself to those who don’t know me: I am Olivier Roland, I’m 27 years old, I’m French and I manage an information services company that I created when I was 19 (with 3 people).

Are you familiar with the Personal MBA? It’s a concept created by Josh Kaufman. Going off the assumption that business schools don’t have a monopoly on knowledge and wisdom, he suggests that every one of us passes a personal MBA by reading a selection of the best business books that exist, around 77 published in 2008 (93 with supplements) in 12 different categories.

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Creativity, Innovation and Entrepreneurship

Creativity, Innovation and Entrepreneurship

Part of the romanticism of entrepreneurship is the thought that entrepreneurs are creative, innovative, go-getters, risk takers, driven. All of that implies a high self-esteem and determination. In reality, having a clear understanding of creativity, innovation and entrepreneurship allows managers of institutions and corporations, as well as individual, manage each area differently to get the best results.

People like creativity simply because it is fun. We reconnect with the pure pleasure of getting something that did not exist before. When we create we forget our problems, we are just being, the child comes out, we connect with ourselves and it simply feels good. Our energy pours from the inside to the outside and leaves our imprint, the object of our creation becomes an extended part of ourselves. Creativity also lives in a time and purpose vacuum. The worst enemy of creativity is a good idea.

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Pros and Cons of Having a Small Business Voicemail System

Pros and Cons of Having a Small Business Voicemail System

In any business, application of advanced technologies can contribute towards ensuring success. Your office may require a better telephone system and voice mail system to carry out effective business transactions. The success of any business depends mainly on client satisfaction. In order to maintain steady contact with clients, small business owners can make good use of the voice mail system which functions as an answering machine.

The pros and cons of having a small business voicemail system are many. The main point in support of having this system is that, it is featured with a personalized answering facility which allows you to brief your client in situations when you are unable to answer their calls. The voicemail system is provided with caller identification facility which enables you to respond to your client at a later stage when the client might have forgotten to provide his contact information. It is also provided with date and time stamps which give a clear idea about the date and time when the message was actually obtained.

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Why the Need for Brainstorming?

Why the Need for Brainstorming?

Brainstorming can be the most abused word when it comes to meetings and group activities. It is often used by students, teachers, successful businessmen and even criminals. A lot of projects and activities have become successful due to creative brainstorming sessions.

It is a fact that a person normally uses less than ten percent of their capacity to think and use their brains. This means that there is a lot of room for more creativity and thinking if only a person can find the right enlightenment or inspiration.

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Business Online Advantages and Disadvantages

Business Online Advantages and Disadvantages

Increasingly, more people own or are growing their businesses online with varying degrees of success. It is important for internet entrepreneurs to be aware of the advantages and disadvantages of doing business online as this knowledge will empower them to make the right decisions and implement the correct strategies if they do go ahead and start a business on the internet. Below are the main advantages and disadvantages of running an online business.  

 Advantages

Start-up costs are relatively cheaper than bricks and mortar businesses. Some business-in-a-box programs cost as little as $400, some even cheaper. If you are setting up your own website with your business plan you may only need to pay for a domain name and web hosting which would cost you less than $100. Even for the most expensive opportunities, they are still way cheaper than other businesses. The top scale start up costs for internet business could be $20k, which might seem expensive but when compared with businesses like the MacDonald’s franchise which cost over a quarter of a million dollars, then it puts things into better perspective.   Operational costs and administrative expenses are also relatively lower than other businesses with little or no staff required. Many internet entrepreneurs work from home which means that expenses like lighting and heating and office expenses which would normally be incurred in an office block, are saved.   Running a business online gives great flexibility. This is because the business can be run from anywhere. An entrepreneur could be on the beach on holiday with her family and still be running her business normally. This flexibility helps the entrepreneur does as she pleases with her time. She may decide to work between 12 midnight and 6 am if that is her most productive hours.   Online businesses can reap the rewards of free and cheap advertising, through videos, article marketing and social marketing. Even with more expensive advertising options like pay per click, due to the number of Internet users, to potential to grow your business is very high especially if you can effectively drive traffic to your website.  

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9 Things That Hinder Business Growth

9 Things That Hinder Business Growth

Have you ever wondered why some small businesses take off and grow very rapidly and others stay the same for years and years?

Small business growth takes strategy and strong leadership. Some new business owners achieve a certain level of success, sit back and fail to do what is necessary to grow the business.

9 Things That Hinder Small Business Growth

1. Lack of Vision

All businesses need a written vision statement to help direct their planning and decision making. If there is no clear vision, a business can waver with no specific direction. Lack of vision is detrimental to any organization. How can you plan, or have a business strategy without knowing where you want to go?

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The Importance of Business Presentation in Any Business

The Importance of Business Presentation in Any Business

If you are working in the corporate world, then you should know that one of the most important aspect of business that needs to be considered is business presentation. Presenting a business or sales proposal in an oral manner is a very common practice, but unfortunately not everyone is an adept when it comes to speaking to a group of people. The success of any presentation relies heavily on how the presentation is delivered. If your business presentation is of high quality and interesting, then chances are high that your potential clients will be interested to consider your proposal. On the other hand, if your presentation is boring and not memorable, then they will most likely be inattentive to the presentation and won’t even have an idea what you are presenting. So knowing how to properly deliver a business presentation is a must for those who are involved in the corporate world.

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Creativity and Entrepreneurship

Creativity and Entrepreneurship

We will commence our assignment with a discussion of sources of new ideas. We will then examine methods of generating ideas, creative problem solving, the product planning and development process, and then e-commerce. We will then generate several new ideas using brain writing, the checklist method, and free association. We will apply the product development stage to our new ideas and end our discussion with two alternatives to e-commerce.

Sources of new ideas include consumers, existing products and services, distribution channels and even the Federal Government (Hisrich, 2008). The files of the patent office are full of new ideas and new product ideas can form as a result of government regulations. Research and development is the largest source of new ideas and can occur in a formal lab or in a garage or basement.

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Simple Accounting For The Small Business – Bookkeeping Using A Simple Spreadsheet Template

Simple Accounting For The Small Business – Bookkeeping Using A Simple Spreadsheet Template

Starting a small business out of your home, offering products or services like business consulting, photography, selling on the web or a MLM? You are now faced with tracking all your expenses and revenues for your business and you certainly don’t have the money yet to engage a bookkeeper or accountant. If your business is a sole proprietorship, whether it be a Canadian Proprietorship or a US-based Proprietorship, you do not require an accountant to submit your company financials (books) to the IRS (USA) or Revenue Canada). Your business revenue and losses are reported as part of your annual personal income tax. For this small business start-up, you won’t need to buy fancy accounting software, like Quick Books or AccPac to track your business.

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