Infographic: Increase Business Turnover Right Now

Increasing your turnover should also mean you boost your profits this year. So, it’s essential that all entrepreneurs focus on that goal. Depending on the nature of your operation, there could be thousands of ways to make that improvement. However, we’re going to mention some simple strategies on this page that should work across the board.

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How to Build Good Relationship with Your Suppliers

How you approach your business’ suppliers should be a strategic plan in every business – whether selling products or services, all businesses are dependent on their suppliers. However, many business owners get this relationship backwards. To them, they are in a dominant position because they are the ones who write out the orders and checks; therefore, they can exploit this relationship by making unreasonable demands and even going as far as seeking personal perks.

It’s important you get something right – the relationship you have with your suppliers SHOULD be good if you want a reliable supply of products or services. When you find good suppliers, treat them like gold. Work hard at creating a mutually understanding and respectful relationship, just as you would with your customers.

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5 Ways Micro Loan Can Benefit Small Business

Small business owners need working capital to deal with ups and downs of cash flow, pay for operating expenses, and invest in growth – but they usually don’t need the same large amounts of capital that big companies require. Instead, many small businesses can get by with smaller “micro loans” in amounts of $50,000 or less. Even a small amount of money is often enough to make a big difference for a small business.

Here are a few ways that small business owners can use micro loans to help their businesses succeed:

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How to Emulate Apple’s Supply Chain to Boost Profit

Supply Chain
It is said that a chain is only as strong as the weakest link in it. There are many facets of a supply chain and just one weakness can hurt the entire chain. One of the best run companies in the world, Apple, is renowned for its supply chain. The current CEO, Tim Cook, graduated with a degree in supply chain management and has helped to make the company more profitable. He has been credited with their massively increased efficiency and profitability, so there are plenty of reasons why other businesses should pay attention to how they run their operations.

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How can Distribution Software Help with Inventory Control

Inventory management and distribution is a complex process that requires a thorough understanding of the buying motives of local customers and a way to understand seasonal trends. Without this thorough understanding of how inventory moves, you may not be able to adequately stock stores with the items your consumers want. Conversely, you may also be stocking items that your customers don’t want to buy at the moment or in as great of a volume as you have stocked.

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7 Funding Options to Solve Cash Flow Crisis in Your Business

7 Funding Options When Your Business Has a Cash Flow Crisis
Cash flow crisis is the primary reasons most small businesses fail. If you don’t watch cash flow like a hawk your business will end up in trouble sooner rather than later, and in many cases this may prove fatal. Nevertheless, many small businesses will encounter cash crunch at some point in their existence. How you deal with can determine whether your business will be able to survive or meet the graveyard. The immediate action you need to take when facing cash flow challenge is to find found sources that can provide cash on a short-term basis and help you meet your cash obligations to your creditors and employees. Below we describe 7 options you can explore to find cash needed to keep your business going.

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How to Sell Excess Inventory Quickly without Marking it Down

How to sell excess inventory without marking it down
Every business finds a need to get rid of excess inventory quickly at some point. You may end up with excess inventory for number of reasons. Clothing retailers need to sell remaining winter jackets at the end of winter. You may misjudge consumer preference and buy too much of pink trousers that are no longer trendy. You might even find a need to free up some cash and one way to do it is to sell excess inventory.

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Coming Revolution in POS and Credit Card Processing Systems

Rejoice, Small Business Owners!! There is a revolution underway in the way small businesses process credit card transactions and use Point of Sale (POS) systems. This is going to help small business owners in a big way by leveling the playing field with large competitors. We have always maintained that it is possible for small business owners to beat their larger rivals by finding a niche and focusing on customer service. Now, you are getting extra help in other areas where large businesses used to have an edge. A company called Square has introduced a portable credit card device that can process credit card transactions on-the-go with just a mobile phone. Last week, they took it one step further and introduced a free POS app on iPad that will modernize the point-of-sales system for small business owners. According to Square, this new app replicates and enhances the features of cash register systems, such as order taking, inventory management and customer data analysis significantly.
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Why Free Samples should be part of your Marketing Strategy

Free samples are everywhere! Walk into any mall or store and you will find people handing out samples. Go to a grocery store… There are samples of coffee, cookies and many other things… Go to a mall department store… There are samples of perfumes for you to try… Even technology companies that do not have physical stores have got into the game with the so called “freemium” business model. They provide “samples” in the form of limited functionality product for you to “try”. If you want additional functionality you need to pay for it. Apple store is constantly buzzing with people sampling their latest gadgetry.
Samples are everywhere because they work. Customers love samples. It gives them opportunity to “try before they buy.” They don’t have to spend money on something new before figuring out if they will like it or not. It also lets them find new products that they didn’t know existed. With the number of product choices available to consumers increasing every day they do not have time to research all the new products before buying them. Samples provide them a way to uncover something new.
As you can see samples provide companies with an interesting marketing avenue to reach their customers. There are several ways small businesses can use free samples for effective marketing. The list below shows how you can use free samples for low-cost yet effective marketing.
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How to Reduce Startup Expenses when Launching a Business

Most people who are launching a business underestimate the time, money and effort required in the initial stage. They end up spending more time and money than they had initially planned. While they are working hard to put everything in order to start the business on-time; the bills continue to pile up and it comes as a shock when they examine the total expense incurred before the money has even started coming in. This is just one of several reasons why an early investment in a good professional tax and accounting software platform is crucial.
There are good reasons to reduce your start-up cost. The less money you spend before you open your business, the more money you will have for advertising and promotion; which is crucial in the early stage. Besides, it will allow you to set more money aside for working capital; which is particularly important for first few months.
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