Urban Pulse Direct Winter 2018 2nd Edition | Page 9

5 BUSINESS TIPS FOR
SMALL BUSINESSES
1
2
3
HAVE A CLEAR, WELL
ARTICULATED PLAN
Know what you want to achieve and how
you want to achieve it. Create a simple,
measurable plan that clearly states your
goals and what you want to achieve. Find
a business coach or mentor to help keep
you accountable.
IT’S ALL ABOUT THE BENJAMINS –
CASH FLOW
Your cash flow is everything! Be sure you
have solid systems in place to ensure you
are receiving your payments on time.
Inventory Control, Payroll management
and expense control are all areas that
require your full attention.
MONTHLY MONEY
MANAGEMENT
Know and control your monthly
expenses. Don’t depend on your yearend
accounts to determine the profitability or
tax liability.
4
5
KNOW & GROW
YOUR CUSTOMER
We get it, you want to grow your
customer base. Here are a few questions
for you to consider:
A. What’s your strategy?
B. Have you developed a pipeline?
C. What is your Unique Feature?
D. Have you developed a marketing
budget and plan?
E. Whose selling for you, more
importantly, whose closing sales for you?
Avoiding or ignoring any one of these
items will stall your development and
may result in lagging sales and cash flow.
UNDERSTAND YOUR PRODUCT
AND SERVICE PROFITABILITY
It’s critical that you understand the
profitability of your products and services
you offer. The most expensive product
or service is not necessarily the most
profitable. Know your margins.
U R B A N PULSE DIRECT PAGE 9