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How to bootstrap your business

Bootstrapping has become one of the new buzzwords in business. Bootstrapping (or to bootstrap your company), means using your own resources, and effectively managing your cash flow, to internally generate the funds, that you need to operate your startup, or relatively new business. This has become the new motto of many small business owners. There is another major benefit is you can successfully bootstrap your company. Bootstrapping keeps you from having to seek out venture capitalists or angel investors for your business. This means a lot for many business owners, because when you let them on board, you lose control of a part of your company. If you are a business owner here is what you need to know about how to bootstrap your business-

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How to solve cash flow problems, with invoice factoring

cashflow19162760.jpg Many businesses experience a number of cash flow problems as their customers do not pay on time and they end up struggling to pay their vendors as they have to money. Cash flow problems can lead to so many issues that it can be frustrating for small business owners to survive. If you are sick of struggling with your cash flow problems and you would like to feel comfortable with your business for a change, invoice factoring may be the solution you are seeking.

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Reduce your vulnerability with these simple tips

manwithdatebook23291499.jpgWith so many banks limiting the amount of money that is being lent to their customers, how can you ensure that you are reducing your vulnerability so you don't need to rely on credit to get by? There are a lot of things you can do that will keepyour business running the way it should, which means you won't end up with your cash flow in the red.

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Cutting business costs, improving business finances

accountant37004762.jpgBusiness owners of every size are now finding that they must take control and manage their business expenses, in these challenging economic times. Managing expenses has increasingly become a priority, for the long term survival of any business. For profitability it is crucial that you must be able to keep costs down. Just like consumers who are trying to decide what to live without, businesses must cut unneeded or low priority, items from their budget. Financial experts advise however, that before managers simply run rampant through their budgets with a red pen they must be clear on where they can cut costs, without damaging the business. It is important to understand that you must cut with precision. This is because if you do not cut enough it will not help and cutting to deeply could bring on the end of your business.

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Calculating business needs

accountant37004762.jpgStarting a small business is a lot of fun and very stressful. Acquiring the funding for your business can be a struggle and running the books of your business can be an even greater struggle. If you are trying to acquire funding for your business, you must start by calculating your business needs. Here are the tips you need to follow in order to calculate your business needs.

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Senior discounts

oldermanpointing30841371.jpgMany companies offer a senior discount for people over a certain age, mostly after the age of 62. How much of a discount is offered is going to depend on the company. You can find senior discounts ranging from free to a certain percent off. The best thing about senior discounts is it allows seniors, who for the most part living on a fixed income, the chance to save a ton of money.

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Living on a fixed income

concernedman19185284.jpgLiving on a fixed income can be a tough thing to do, especially in the current economy. Here are a few tips to help a person or family live on a fixed income.

Have a budget

One of the most important things for a person to do when they have to live on a fixed income is to have a budget. A budget can help a person control and keep track of their spending each week, month, and year. This is always an important thing to do in personal finance, but it is especially important when a person, or family, has to live on a fixed income.

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Is renter's insurance worth it?

womanwriting19115187.jpgWhen you rent a property, many people suggest that you get what is called renter's insurance. This is insurance to cover your personal property found within a rental. So, it is not insurance to cover the structure, but rather, your items that are within it. So, the questions becomes, is it worth the outlay of cash? Many people think of insurance as an expense that yields them very little, that is until you make a claim. Most renters think that because they do not own the home, they do not need insurance. And to an extent, they are right. As a renter, you do not need to get insurance for the structure, but your land lord's insurance likely only covers the structure, and not the personal possessions inside of it. So, is renter's insurance worth it? YES!!!

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How You can be rich

moneyexplodingoutofbriefcase30891474.jpgDid you know that being rich is within your grasp? It does not take a lot to get "rich" it just takes knowing what being rich means to you, and then making the sacrifices to make that possible. The following is a guide for how YOU can be rich:

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Don't get nailed on home improvements

woodstack26498420.jpgOne of the benefits of owning your own home is that you can make any kind of home improvements that you want. The problem that many home owners have when it comes to home improvements is getting nailed on home improvements, what happens is that either they pay too much for the home improvement project or they get a contractor that does not do the job right.

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Simple tips to improve your cash flow

money30329551.jpgChanging the payment terms on some of your bills can easily improve the cash flow for your business. Cash flow problems often cause businesses to go under because they are unable to meet their monthly financial obligations. This article will look at different ways you can improve your cash flow problems and start expanding your company:

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Reducing overhead costs for manufacturing businesses

businessmeeting26251473.jpgIn manufacturing, you are going to have overhead costs, the more overhead costs you have the less profit you will be making. In manufacturing, your overhead costs are going to include both fixed and variable costs. What you are going to want to do is find a way to lower your overhead costs, which will be done by looking at your fixed and variable costs, to see where you can cut costs so you can increase your profits. When decreasing your manufacturing costs you need to make sure that what you are doing is not going to harm the product you are manufacturing. You need to find a way to reduce your overhead costs without cutting back on how much product you are manufacturing.

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Outsourcing your manufacturing to cut down on costs

womaninoffice32013222.jpgDoing business in the United States has increased the costs of many businesses. In times of a recession, many companies are looking for different things that they can do to cut costs for their business, which can be the difference between staying in business and going bankrupt. Outsourcing your manufacturing to other countries is one way that you can cut costs because the cost of living in other countries is less than the United States. This means that you can pay lower wages and pay less for the materials that you need to purchase for your product. The reduction in costs means that your business is spending less money, which means an increase in profits or it can mean your business will be spending less money so they can survive through the recession.

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Making cuts to increase profitability

manhandcuffedtobriefcase8247331.jpgOverhead expenses are the costs that business incurs on a day-to-day basis. Overhead expenses are things like your utility bill, telephone bills, rent, taxes, and other operating expenses. Any business that is looking to increase profitability must assess their overhead expenses and make cuts.

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75 money saving tips


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25 Tips for How to Save Money


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Money saving tips


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How to Save Money


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15 Money Saving Tips


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How to cut down on paper costs at work

People have been talking about cutting down on the use of paper for a long time to save the environment.However, another important reason for business people to cut down on paper at work is because of paper costs!Using a lot of paper can get very expensive in a business.No matter what kind of business that you are in, there is no doubt that you use a lot of paper - computer paper, Xeroxes, memos, sticky notes, note pads, etc.If you want to cut down on paper costs at work, here are a couple of things that you can do:

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The advantages and costs of accepting payments online

In today's electronic and online world, it is difficult to maintain a competitive edge unless you are able to take your business online.Many millions of business owners reap the benefits of having online businesses.Obviously if you set up a business online you will also need to establish a way for your customers to pay for your products and services.The advantages and costs of accepting payments online must be carefully considered if you are going to make the best decision possible for your business.

Advantages of accepting payments online

When you accept payments online you are eliminating any geographical boundaries that would prevent you from involving yourself in a transaction with a customer.Not only are you making your business available to anyone anywhere in the world, but you are opening the door of opportunity to accept money in exchange for your good at any time of the day.No need to stay at the office longer in order to meet with demanding schedules of your clients, they can take advantage of what your business has to offer at their and your convenience.

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Using leasing as a way to run your business with less debt

If you are just starting your business and trying to find a way to finance it, leasing can save your business a lot of money. Leasing is a great way to run your business with less debt. Leasing is borrowing the equipment and machinery you need to get your business started without having the required money to start it in the beginning.

Equipment leasing is a great way to run your business with less debt. Equipment leases allows you access to many types of equipment i.e.; computers, copiers, fax machines, cars, fixtures, and office furniture without having the allotted cash up front or using business credit cards. Even though leasing doesn't bring in cash, it does reduce the amount of cash you have to raise. For the short term, leasing is an excellent solution to gaining what you need now. In the long run, leasing does cost more than buying, but if you need to run your business now, this is a great alternative.

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Leasing versus purchasing business equipment

When it comes to stocking your business with the necessary equipment, whether it is a bunch of computers or a few bulldozers, it is important that you consider the pros and cons of both leasing and purchasing business equipment.While this discusses heavy equipment, the same considerations should be made by those who are involved in white collar jobs.

The topic for this article is whether heavy equipment rental is better than leasing heavy equipment. So your business is in need of some heavy equipment. This equipment could be something like a bulldozer, a crane, an excavator, a loader, a soil compactor, an application machine, a smooth roller, a fork lift, a man lift, and more. It depends on whether or not you're doing something that involves dirt moving, something that involves asphalt, something that involves material handling. Maybe you're a construction company, maybe you're building homes or businesses, maybe you're just in need of that heavy equipment. Whatever you need it for, you need equipment that is in good condition, equipment that can get the job done without any hassles for repairs or anything like that, and equipment that you can get at the cheapest price possible.

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How to make money, not lose it, and know when you are doing which

The point of business is to make money.You want your business to be a successful, profitable company that yields more than it spends.But making money isn't always as easy as it sounds.Even with a business that seems to be prospering, there can be times where you're not actually making money.In order to ensure that your business is successful, let's learn how to make money, not lose it, and to know and recognize when you are doing each one.

First of all, it's important to educate yourself.If you're not knowledgeable on the type of money that you're making, you'll never know how your business is doing.If you don't educate yourself you will quickly realize that knowing a little more than the average business owner will help you make more money than the average business.You should be educated in the type of business you run, the types of products or services you sell, and finally and especially, the types of costs your business can incur.

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How to estimate expenditures for your business when writing a budget

How to estimate expenditures for your business when writing a budget? Estimating expenditures for your business can be much more than just a guess. You can use data and previous experience to make an educated estimate. Therefore, creating a much more realistic budget.

A budget is only successful if the expenses and income estimates are feasible. This means that what ever you put on paper can only work, if it is possible. This is where making educated estimates is going to be much more useful than a simple guess.

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How being organized saves your business money

Being organized can actually help save your business money.Read on for how organization translates into savings, along with ways that you can work on organization within your business and cut back on costs as you are doing so.

As a business, your money lies not only in the profits that you make through your products and your services, but also in the time that you and your employees spend working, along with the way that supplies are used within your business.Materials are money, but time is also.Becoming more effective as a business and using your resources wisely will both help you cut down on costs within your business.The less time that you and your employees have to spend on unnecessary tasks that are caused by a lack of organization-searching for files, looking for invoices, wasting time and putting off clients because important information can't be found-the more time you can spend on actually turning a profit.

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Lowering labor costs.

Does your company go through an endless cycle of layoffs and new hires?How many people work at your business?About half of them, you say?Is your company's bottom line not as black as it should be?Are your systems, business processes, and employee training out of date?If so, read on.Let's explore a few concerns that almost certainly need to be addressed by your company.

Q. Should a company lay off employees?
A. Yes, as a last resort.But this means that your business is probably in trouble anyway.The employees were hired for a reason, because they were needed.If they are no longer needed due to the decrease in business, then reducing the work force may be a necessary result.For example, when people stop using the airlines the way they used to, then there no longer needs to be as many ticket agents, pilots, flight attendants, and baggage handlers.The airline company must adjust the workforce in order to stay profitable.

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How to determine if an expense is justifiable

Determining if an expense is justifiable depends on many things.It depends on how you will benefitfrom the expense.Will the item or thing that you bought help you and anyone else in anyway.People have justifiable expenses everyday. Buying food for your family, getting diapers for the baby, getting your car serviced, getting clothing that is need, all of these are expenses that will benefit someone.In a business you have to determine if expenses are really needed.Let's go over some examples on how to justify your expenses.And then let's go over justifiable expenses.

Business budget planners will not approve an expense unless it is really needed.First you will need to present your problem.Once you have your problem you will need to find a solution.Research the most logical way to solve your problem.Present the benefits of your solution; make the budget planners think that if they approve the budget that they are really helping.Give the budget team a ball park cost, ensure them that your solution is the most cost effective way to go.

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Using Air Mile Reward Programs to Reduce Travel Costs

Chances are, if you've ever flown in an airplane, stayed in a hotel, or rented a car, you've heard about air mile reward programs. Businesses and people who frequently travel can greatly reduce their travel costs simply by participating in air mile reward programs and then redeeming their points.

How do Air Mile Reward Programs Work?
Also called frequent flyer programs, these programs typically allow specific airline customers enrolled in the program to collect points, or "miles," for each flight. Generally, the longer the flight, the more miles are accrued. These miles add up, and once a certain number of miles are obtained, travelers can redeem their points for a number of things, such as free airplane tickets or access to travel lounges.
While it used to be you could only redeem your miles with a certain airline, many airlines have joined forces, allowing their customers to use their frequent flyer miles on a number of different airlines.

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Electronic Payroll - Is it Right For You?

In this information day and age, more and more employers are turning to electronic payroll in order to get their employees their paychecks, and for good reason. There are many benefits to using electronic payroll that are beneficial to all involved. Employers benefit from electronic payroll by:

  • Increased security. Electronic payroll helps ensure that account numbers and checks are not altered or stolen
  • Savings. By having payroll directly deposited, employers reduce the cost of printing, mailing, and tracking paper checks.
  • Convenience. Employers will not have to manually print checks and mail them out.
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Debt Settlement - A Way to Avoid Bankruptcy?

Debt has a way of quickly becoming unmanageable. As bills pile up and people scrape by just to meet minimum payments, sometimes it seems like the only option is to file for bankruptcy. However, this is not an attractive option - not only is bankruptcy considered unethical, bankruptcy laws are changing, making it difficult to declare bankruptcy. In addition, it appears on the person's credit score for up to ten years. In addition, it's a matter or public record.

However, there are options that make avoiding bankruptcy a possibility. One of these options is debt settlement.

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The Advantages and Costs of Accepting Payments Online

Nowadays, more and more people are skipping the shopping malls and opting to shop online instead. Online sales jumped over 20% from last year alone, and this wasn't just in the consumer industry either - more businesses are opting to purchase products and services online rather than wait in long phone queues and then recite information repeatedly to the operator.

Knowing this, if you're not already accepting payments online for your products and services, you may want to start.

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