If you are a freelancer or own a small business, it can be tempting to do everything yourself to save money. Tax time can be especially daunting because of changes in tax laws, deductions, sending out tax forms to contractors and more. There are loads of software programs available and a free IRS website for DIY tax prep as well, which may also prompt you to do it on your own.
When you're growing a small business, it can be overwhelming to take on tasks that aren't your strengths. After all, you started a business because you were good at something... and likely, that something wasn't invoicing or collecting accounts receivable.
Making sales and making money are obviously necessary to grow your business. Instead of searching all over the internet for advice and sample templates, let us give you a head start.
Click on the links below to download our free resources.
The business world is always changing and we're here for it. 2018 saw more freelancers and small businesses, consumers and employees speaking out and a more discerning audience for marketing and partnerships. January is the perfect time to determine how your business is going to change and be better in the new year.
To help small and growing businesses prepare for what's to come, we have done some research on a few business to business trends to expect in 2019.
The aim of the Enterprise Recovery Zenith blog is to inform, educate and support all who read here. Your clicks and comments determine what's important and how we can help. Within the top 10, we may also recognize trends and what's missing that we should cover in future posts. Read on to see if there's something you missed this year.
Freelancing can seem glamorous when you consider being your own boss and working from anywhere. You set your own hours, choose the type of work that you love to do and you don't have to answer to any boss. Freelance work also means that you have to handle all of the other work it takes to gain and retain clients plus continue to pay your bills. It can be especially frustrating when you have to track down client payments.
While it would be nice to get a heads up when a client decides to pull their business, they may just disappear. Depending on your business and the size of the client, losing one client could be devastating. You may also take it personally if the client has been with you for a long time or if they're one of a few. The most important part of client retention is communication. Maybe these clues don't mean what you think they mean.
September and October seem to be a swift slide right into the holiday season. If you're a busy small business owner, you may not have realized that the end of the year is coming up quickly. Instead of spending late December in the rush of the season, start planning ahead to get your financial statements and taxes organized now.
Whether you only have an idea or you're ready to take your business to the next level, finding financing or funding can be a stressful endeavor. Starting a business often starts with self-funding or bootstrapping, including borrowing money from family or friends, selling your home or maxing out your credit cards. The risk of strained relationships and finances may add to the burden but a passionate business owner will push through it.
Tracking and collecting receivables is vital to your business' cash flow. Without a steady cash flow, your business may not have enough working capital for important expenditures. Set up an organized accounts receivable department with dedicated responsibilities to ensure a positive cash flow and success for your business.
The dream of starting your own business is intoxicating, especially when you're tired of working for someone else's dream. According to MBO Partners' 2018 State of Independence in America, 4.8 million independent workers are referring to themselves as "digital nomads" and seek the life of working from anywhere. While the dream has become reality for many, still others are hoping to enter the world of entrepreneurship. As with any grass is always greener scenario, there are ups and downs to owning your own business, not the least of which is a very different sort of stress than you may be used to.
Let's look closer at the causes of stress for entrepreneurs and some tips for handling it.
