Invoicing once monthly is the invoicing method I used early on in my career. Sending one invoice per month had absolutely disastrous results. I was waiting for weeks to get paid in one lump sum by clients. I had to be meticulous with business expenses and personal expenses to make sure I didn’t run out […]
Having many invoices out pending can be destructive to cash flow. You need payments to flow in regularly so you can pay your business expenses and you can give yourself a paycheck. If you notice invoices get paid late often, there may be a few mistakes you’re making that are causing clients to pay after […]
Our goal as business owners is to do work and get paid for our time. Invoicing for the work we do is how we get paid. If we don’t invoice properly, money can come late or not in the form of payment that we want which can be a huge hassle. There are a few […]
When you don’t have time to create content, it may be time to hire contributors. Content like articles, blog posts, videos, podcasts and other forms of media can bring awareness to your business. The goal is for the awareness to equal more dollar signs. Finding and hiring content creators or contributors may seem like a daunting […]
Content marketing is the idea that your brand content (blog posts, social media, videos, or emails) implicitly does your marketing for you. Compare this to traditional, explicit marketing, like purchasing a tv ad or putting ‘buy now’ over a product. Content marketing has surged to the front of our marketing approaches in the digital age, […]
If you’re excited about starting a business, congrats! Charting your own professional course is very exciting and can be a huge source of joy and money in your life. But it’s not for everyone. And many people try to turn a passion of theirs into a business without really understanding what starting a business takes, […]
If you don’t have a few thousand dollars to invest in a custom website, there are thousands of affordable WordPress themes you can choose from instead. Some themes are completely free. Premium options can cost a few hundred dollars and they tend to come with more bells and whistles like tech support. Your website is […]
Whether or not to put service rates on your website is a decision each service provider has to make. Should you leave the prices off or should you list the rates for prospects to see? There are pros and cons to both scenarios. In this post, we discuss each option to help you decide which […]
Working from home can seem like the right choice if you’re looking to adopt a flexible schedule and skip hectic commuter traffic. However, some people who work remotely may accomplish less due to common work from home time traps. While you often have the freedom to create your own schedule, you also run the risk […]
Creating a course is one way to diversify your income. If you’re making money from a business, there’s a good chance you have something to teach that people want to learn. I like making and taking courses from other people because they’re often a smaller ticket product that gives me an introductory into what the […]
Starting your own business has never been easier given the availability of investors and the interest of so many in the startup space to help create the next "big thing" or to be behind a disruptive product or service that really shakes up the marketplace. However, when it comes to the actual work involved in tackling all aspects of a business, including its functions like sales and marketing, accounting and finance, human resources, information technology and more, it becomes considerably more challenging for a small business owner or founder.
With statistics that show up to 90% of new businesses failing soon after launch, it's critical to know how each of the functions pertaining to running a business, can work the most efficiently, including how to budget appropriately to sustain your business through all types of economic cycles. However, so many business owners admit that they do not have much knowledge and very little experience about most aspects of running a business and they tend to "wing it" and figure it out as they go. The problem is that this approach to running a business is the very reason why so many fail.
A better strategy is to invest time, energy and effort in a continual learning process that helps build knowledge and skills across all aspects of your business. Even if you do not handle all these functions yourself but have team members or outsourced talent for some of the more technical roles, it is still good to familiarize yourself with the issues. Knowing and understanding trends, technology and opportunities that impact all functions of your business will help you to better shape your business decisions. Additionally, this strategy of ongoing learning can help you identify those areas in your business that could benefit from additional technology or tools that add efficiency and help you maximize the time spent on many non-revenue tasks.
We have dedicated a category of our Due.com blog posts to providing business tips to help you enhance your working knowledge and skills across all aspects of your business and help you make more informed decisions that will speed growth, revenues, brand reputation and profitability. These business tips include such topics as:
- Marketing strategies, including social media platforms, creativity and messaging, content marketing strategies, branding and how to promote your company online.
- Financial planning, such as emergency funds, retirement accounts, budgets, invoicing, how to handle clients that haven't paid, why you should accept credit cards and how to finance business expansion.
- HR issues like whether to hire employees or freelancers, training, motivation to retain talent, how to find a business partner, where to find outsource talent and tax issues related to employees and freelancers.
- Productivity tips like how to manage your time, tools that maximize what you can get done, and how to effectively manage a project.
- Mindset strategies, including whether you are a freelancer or an entrepreneur, how quickly to expand your business, and how to build a business around your lifestyle.
These are just some of the dozens of articles now available in this subject category that are designed to help you get the most out of your business for the investment of time and money that you have put into it. Not only will you learn more about how an efficient, successful business works, but you will also be able to create a more effective strategy to ensure your business doesn't become just another unwanted statistic. We want to help you succeed.