As global markets reopen, inflation is causing corporations of all sizes to reexamine their rates.  Supply chains are being affected by higher costs and increased demand for raw materials and labor.  According to economists, the inflated costs aren't expected to abate until well into 2022, cutting into profit margins.  CEOs are saying that higher costs will last longer than that. If your business operating costs are going up, have you considered charging more for the products and services you offer?

With inflation, is it time to review and raise the rates you're charging?

When LGBTQ+ entrepreneurs are making decisions about their business, are they considering the values of those partners and venture capitalists? A 2016 study revealed that 37% of LGBTQ+ founders did not out themselves to investors, afraid that it would affect their chances or feeling that their status was irrelevant.  Things have changed in the five years since that study, with entrepreneurs getting more choosy about representation and values.  With that in mind...

Here is a list of supportive resources for LGBTQ+ entrepreneurs.

When starting a SaaS company,  entrepreneurs begin with a unique idea to solve customer challenges. Customer Success ensures that the product is used successfully by those customers. This business practice ensures that customer churn is reduced and the customers become advocates for the brand.

What are SaaS Customer Success best practices?

You have an amazing software idea and you're ready to make some money with it. Have you figured out your product's niche market? Have a business plan already? Are you already getting feedback from customers? These are just a few questions to consider as you take your product to market and start enjoying that recurring revenue. 

Use this checklist when you're ready to launch and grow your SaaS startup!

From HR Tech to other models, businesses are expanding their capabilities by offering their services as a subscription.  For the same reason that your customer would hire an employee or purchase a product to take on the responsibility of a certain task, as-a-service models allow them to pay a recurring fee for the same product or service instead.  Have you thought about how to capitalize on the subscription model for your business?

Here's why businesses are offering as-a-service subscription models.

In every business, employees are the most powerful and often, most expensive, resources. Human resources managers are tasked with hiring the best people in the most efficient manner, onboarding them quickly and supporting the overall employment experience within the company.  It's quite the challenge to manage all of the paperwork, changing job specifics and the actual human resources. Thankfully, there are a number of software-as-a-service companies getting into the mix. 

Here's how HR Tech SaaS companies are transforming the HR industry.

Defining 'startup' isn't as simple as it would seem. To some, your business is no longer a startup when you begin turning a profit. To others, 'startup' is a state of mind, like always chasing or hustling to push out new ideas. If your company has been calling itself a 'startup', what have you determined pushes you past that startup idea?

When is a startup considered a real business?

As we've said before, time is money.  With that in mind, the last thing you or your sales reps want to do is spend time with a client who:

• Doesn't match your version of the ideal client
• Doesn't have a need for what you're offering
• Doesn't have the money to pay you

Timing is also everything. Your salespeople need to be able to identify if the client meets all of your qualifiers and is ready to buy.

Here are 8 open-ended sales questions to qualify if a client is worth your time.

Small businesses and startups must think on their feet, and that includes getting their accounts receivables paid quickly.  Business relationships are an integral part of the success and growth of these companies. Protecting these relationships should be a part of the collections process as well.

When time is money, here are quick debt collection tips for small businesses and startup companies.

When you're trying to learn more about your business finances, a cash flow statement is a must.  This financial statement paints a clear picture of how your business is managing its cash to pay debts and fund operations.  The cash flow statement can help determine the success of your business and be an important indicator of potential to an investor.

What is a cash flow statement and why is it important?