Many entrepreneurs are enjoying the gift of a recovering economy this holiday season. Nearly 75% of small business owners say they feel good about their upcoming sales, and two-thirds say their sales are already steady or improving. One thing that will generally stop these busy folks in their tracks is to ask one of them what gifts would they like to receive that would help them run better businesses? After their initial shock wears off, their answers generally fall into these five categories. Business equipment, money, (loans or cash), more business/new clients, better marketing, and more/better employees. The specific items that are at the top of most lists are new computers, and access to a social media guru that can help them with Search Engine Optimization, (SEO). How can you make these business wishes come true?
Plan now for technology investments. Consider how a smartphone, tablet or new computer could increase your efficiency, enable you to capture more sales or improve your presentations and client interactions, and you may see that it will quickly pay for itself.
Get serious about getting financing. Are you using all the most modern accounting tools to their fullest extent? More than just bookkeeping basics, online accounting programs that let you easily create reports, spreadsheets, and monitor cash flow can help you plan better for working your financial needs. If you expect to need an infusion of capital, start now to develop a business plan or update your current plan. Remember, your business plan is a living document. It should change as your needs change and your business grows.
Tap into the power of online marketing. Social media technology is the number one area where small business owners plan to invest for the coming months, however, they still want guidance from social media gurus as well as help with SEO. The world of online marketing seems to change by the hour, so it’s easy to get behind.