Are you a small business owner who is always on the lookout for simple moves that can strengthen your bottom line? If so, consider trying some of the most time-tested techniques for ramping up profits, attracting new customers, putting power in promotional campaigns, building your company’s credit rating, and more. Truth be told, there’s no magic bullet for turning an under-performing company into an excellent one overnight. But, using a combination of tactics to slowly enhance an entity’s overall financial and marketing strength is a good place to begin. Here are four moves that can bring clarity, order, and efficiency where there once was none.
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Getting a Test Audit
Do you ever worry about the state of your organization’s finances, particularly as they pertain to taxation issues? You’re not alone if you do. One of the best ways to gain peace of mind about potential tax implications is to hire a local CPA firm to do a test audit. These short-term but in-depth looks at your tax situation can help prevent common problems like underpayment of taxes, incorrect withholding for employees, improper filing of quarterly returns, and many others.
Learning Basic SEO (Search Engine Optimization)
There’s no need to earn a degree in computer programming or spend hundreds of hours with an online marketing guru just to acquire the essential SEO skills that every business owner should have. In fact, if you invest a few hours per weekend for a month or two you’ll likely learn everything you need to create top-notch content that can bring in fresh leads. For instance, you can get started by reviewing a simple online guide on Etsy SEO tips for success in the competitive e-commerce environment of 2021. Tips like these apply to most e-commerce sellers on a variety of platforms. And, SEO Etsy tips are universal enough for virtually every type of content, from financial services blogs and healthcare providers, to wholesale food merchants and IT professionals.
Outsourcing Promotional Campaigns
Unless you have a college degree in marketing or many years of experience creating promotional campaigns, it’s often wise to outsource the chore to a small local firm. Why? As opposed to large, national marketing agencies, local ones know the lay of the land, how to construct a campaign via your town’s media to attract the most attention. If you want to turn around your marketing game outsourcing can be a great way to test the waters. Plus, by going local, you’ll get the advantage of working with an account rep in person and will pay much lower fees for service.
Establishing Commercial Credit
Take the time to write a plan about how you intend to build your business’s credit. The majority of new owners rely on personal resources like credit cards, signature loans, home equity borrowing, and other avenues unconnected to your company. Apply for a low balance card at a local bank by showing recent financial statements and using your good personal credit as a guarantee. From there, be sure to use the card regularly and pay its balance off each month, and pay all the business’s bills on time. Within a year, check with the card issuer and see if you can get a limit increase.