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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.

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Investments That Small Business Owners Should Make

 

Starting a small business? Looking to diversify your business's investments this upcoming year? 

Any awesome entrepreneur is always looking for a way to scale their earnings and network. 

We've compiled some of the basic and best ways you should reinvest when reviewing your assets. Continue reading to learn more.

Targeted Advertising

Growing your business can happen in a number of ways, but one of the most important is spreading awareness of your company, product, or service. 

The most effective way to do so is through a small business marketing agency. Using a professional marketing service may give your business the leverage it needs to get to the next big milestone. 

A Better Laptop

If you own a small business or are starting to get it off the ground, you will need reliable technology. That includes a high-performing laptop with a battery that will last you all day long. Let's be honest — your average workweek is 60 + hours, so your laptop should reflect that. 

You should also aim to get a computer that has at least 6 GB of RAM, a processor of i3 or higher. If you are planning to use any advanced software, then i5 is better for you. Because you will be responsible for a large number of orders, documents, and information, keeping a portable laptop with a lot of memory storage is also crucial. Try to go for 100 GB of memory at the minimum. 

Software For Spreadsheets and Accounting

Keeping up with customers, prices, sales tax, and your own tax forms is a task large enough to warrant an outside company. But for a small business, you should be able to get away with using good accounting software like Quickbooks or Xero. 

These are extremely helpful because they can carry out extensive calculations automatically. They also provide detailed records if you need to look back at previous customer information. 

Business Cell Line

As your business grows, so will the number of people who need to contact you. After some time, it can get very confusing to know if a call or contact is personal or for business. For this reason, it is always a safe bet to start a new cell line only for your company

It will help you stay organized and know which contacts and calls are strictly business and which are for personal needs. Having a professional cell will also make you more accessible and easier to contact potential customers or if there is a time-sensitive emergency with the business. 

Consider Print Media

Of course, many small businesses today are 100% online and don't need the physical shackle of having an office or location. But that doesn't mean that print media is dead for your business.

Depending on what your business does, it could make sense to have business cards, posters, or billboards created to advertise your operations. Yes, this is an old-school approach, but we're sure there are customers in your current or desired portfolio that could be reached using print media. 

This is especially true for small businesses that are operating in a local area and aren't looking to capitalize on national interest. Plus, print media can be relatively inexpensive when you consider the cost of paying for online advertisements. 

Final Thoughts

Whether you're starting your business from scratch, or you're a veteran small business owner, we're confident that even implementing just one of these tips will be a gamechanger for your company. 

Of course, there's no one-size-fits-all solution, but the fundamentals are essential to perform optimally. So determine what's currently lacking in your business from our list, and make it happen. We're sure you won't be sorry. 

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