Start with a balance sheet

SBA.GOV The balance sheet is the foundation of managing your finances. It operates as a snapshot of your business financials. It helps you keep track of your capital and provide a cash flow projection for future years. A balance sheet will help you account for costs like employees and supplies. It will also help you track assets, liabilities,

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Use competitive analysis to find a market advantage

SBA.GOV Competitive analysis helps you learn from businesses competing for your potential customers. This is key to defining a competitive edge that creates sustainable revenue. Your competitive analysis should identify your competition by product line or service and market segment. Assess the following characteristics of the competitive landscape: Market share Strengths and weaknesses Your window

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Business Insurance

SBA.GOV Running a small business involves a significant investment. Business insurance protects your investment by minimizing financial risks associated with unexpected events such as a death of a partner, an injured employee, a lawsuit, or a natural disaster. Unless you are an employer, business insurance is generally not required by law, however, it is common

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Startups & High Growth Businesses

SBA.GOV In the world of business, the word “startup” goes beyond a company just getting off the ground. The term startup is also associated with a business that is typically technology oriented and has high growth potential. Startups have some unique struggles, especially in regard to financing. That’s because investors are looking for the highest

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Easy Energy Efficiency Improvements

SBA.GOV Lighting Turn off lights when not in use. Remove or disconnect unnecessary light fixtures. Replace incandescent light bulbs with compact fluorescent light bulbs. Replace or retrofit non-energy efficient light fixtures. Install “occupant sensors” to automatically turn lights off and on. Take advantage of “day lighting”. Lower light levels where appropriate such as around computer

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Understand Your Market

 SBA.GOV To run a successful business, you need to learn about your customers, your competitors and your industry. Market research is the process of analyzing data to help you understand which products and services are in demand, and how to be competitive. Market research can also provide valuable insight to help you: Reduce business risks

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Sales Strategy

SBA.GOV If your business involves selling a product, you are probably looking for ways to improve sales. A sales strategy will focus your efforts on your most important customer audiences, existing or potential. Here are the most important things to keep in mind when designing a sales strategy. Create a sales plan. Having a document

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Green Businesses

SBA.GOV The explosion of organic and eco-friendly products on retail store shelves is more than just a passing fad. It’s big business. This reality presents opportunities for environmentally minded entrepreneurs ready to start their own small business. Successful green businesses not only benefit the environment, but also use green business practices as a means to

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