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Expert Answers to Biz Questions
Listen in! Pick up some expert advice to a reader's question that we selected from CyberSchmooz.
5 Essential Resources for Small Business
A small business generally means a small team, and that means that all parts need to be working together like a well-oiled machine for maximum productivity and a healthy bottom line. Here are five essential resources that can give your company an edge over the competition.
1. An easy to manage business website
The website is a business’s virtual storefront. Potential customers are drawing many conclusions about your business based on what they see online. If the website appears professional, the customer presumes your business is highly professional. If the content is clear and concise, the customer expects interacting with your company to be a smooth experience. Managing the small business website does not have to be time consuming. Consider using WordPress backed by must have WordPress plugins for business to streamline the process. After the initial work to get a simple, elegant website up and running, there’s little more to do than periodic content updates.
2. A reliable online payment processing system
Cashflow is the lifeblood of the healthy small business. If your payment processing system is difficult to use, or glitches often, you may end up with “illness” in your company. Research online payment processing systems carefully before committing to one. It can be tempting to spend less on a system, but the time and money you’ll save by investing in a consistent, reliable system is greater in the long run.
3. A trustworthy accountant
If cashflow is the lifeblood of your business, your business accountant is the healthcare provider. Would you put your personal health in the hands of a subpar doctor? Probably not. Take the same care when choosing an accountant for your small business. There are many ways to ensure that you hire a trustworthy professional. He or she will provide solid references during the interview process and be able to thoroughly explain the systems and processes that will be used to manage the books. Vet your accountant thoroughly and once you’ve hired someone, stay involved by asking questions on an ongoing basis.
4. Fast, modern technology
Having a small team means that every employee’s time is and energy is vital to the success of the business. Outdated, unreliable technology is one of the biggest time sucks that threaten overall productivity. Make sure that your computers, printers, software, etc. are up-to-date and working as they should. New equipment may cost a little more up front, but it will cost less than the hours employees lose struggling with technology that doesn’t function properly.
5. A great team of consultants and contractors
Small businesses often don’t have the need or capacity for full-time employees for many positions. For instance, the services of a human resources professional, marketing specialists, legal advisors, and technology consultants might be required intermittently, but not enough to justify full-time staff. The smart-business owner has built a team of consultants who he or she knows does good work to call on and contract when the need arises. Start asking colleagues for suggestions now, and conduct relational meetings so that you have a candidate pool at the ready when your next project demands a contract professional.
These five tips outline some of the best resources for small business owners and managers to access for optimal performance. Which of these areas could your business improve in?
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