An outside advisory board provides a range of services from acting as a sounding board or a second set of eyes, to providing expertise, guidance and insight to the business owner. This is the first in a multi-part series that looks at real issues facing business owners and how they are addressed with the help of an outside advisory board.
The success of most businesses is dependent on the effectiveness of their marketing. Getting consistent results from your marketing requires that you regularly evaluate how well your programs are doing driving inbound leads and ultimately sales. If your results aren’t what you expect, or a particular marketing activity isn’t performing as expected, a marketing audit will help you identify where the problems lie.
All small businesses will benefit from having a simple marketing plan that maps out your overall strategy to reach your ideal client and win new customers. Unfortunately many don’t take the time to create this important guide to keep your business on track and prevent you from wasting time and money with minimal results.
For a business to succeed, it must generate profits but also operate with positive cash flow. For a business to be viable, cash flow is king. So having a high profit is great. But low cash flow results in a profitable business unable to pay its bills. There is a solution. Let’s look at a couple of areas of your business where you may be able to find a solution.
Even if you have no plans to retire, succession planning is needed in the event something happens to you – death, serious illness or disability.
Content marketing is creating, publishing and promoting value-based content to attract your target audience, position you as a trusted expert and advisor in your industry, help build your online brand presence and drive more traffic to your site.
The vast majority of employers are dangerously unaware of the risks and responsibilities associated with serving as their company’s 401(k) plan sponsor.
Patience and consistency – virtues in many aspects of your life. These same qualities are important for marketing your business, and even more critical for your inbound marketing efforts. Putting an inbound marketing plan in motion that attracts your ideal client is something that requires stamina and determination.
When it comes to employee theft, fraud and embezzlement, sometimes there is no recovery. Unfortunately, the reality is that the court system will not be able to help you in recovering any losses, even after spending thousands of dollars in legal fees. I’m sure you have heard the phrase, “An ounce of prevention is better than a pound of cure.” No truer words have been said.
Many small businesses feel that having a strong brand identity is not necessary. Some think it is something only large companies need. And although some might invest in a logo, they miss the fact that a brand identity is so much more than just the visual impression of your business.
If you’re a small business owner, you’ve likely considered offering your employees a retirement plan. If you’re like most small business owners, you’ve likely run into a wall of confusing retirement plan options. Find out what you need to know to choose the right retirement plan for your small business.
I’m introduced to the owners and leaders of manufacturing and technology-based companies virtually every day and I find it interesting there’s such a large number of businesses that are unaware or unfamiliar with the R&D tax credit and the financial benefits it can provide their companies. In particular, federal and state R&D tax credits allow companies that develop products, processes and software to offset their income taxes by as much as 20% of the costs incurred in their development efforts.