Business Planning Archives

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How to Write and Follow a Business Plan: Tips for the First 365 Days

November 17, 2022

By Dustin Ray

Starting up a successful business is no small feat. Many prospective entrepreneurs are daunted by the statistics and the harsh reality that 18.4% of businesses fail within their first 365 days, according to the Bureau of Labor Statistics. It’s bound to be a competitive landscape, no matter what industry you’re in.

Luckily, your first year doesn’t have to be a flop with some careful planning and preparation. Creating and following a business plan, avoiding common pitfalls, taking advantage of resources, and learning from others are all important steps in getting your new business off the ground. This guide is designed to help get you off to a good start.

6 Strategies to Prevent Quiet Quitting from Your Team

October 20, 2022

“Quiet quitting” is the newest buzzword in the business world. While this term evokes mental images of employees leaving their job without saying a word, the reality is much less terrifying. Quiet quitting is when employees stop going above and beyond at their workplace. Quiet quitting is a response to the idea of hustle culture, a form of workplace culture that can lead to severe burnout.

Unfortunately, for many small businesses, the idea of employees doing the bare minimum for their job is unsustainable and can cause stagnant business growth. However, there are plenty of things that you can do to prevent quiet quitting. Things like valuing your employees, clearly communicating work expectations, and offering advancement opportunities can all go a long way toward preventing the “quiet quitting” phenomenon.

Here are 6 Strategies to Prevent Quiet Quitting from Your Team Click To Tweet

5 ways to get funding for your new business

September 20, 2022

By Myranda Mondry

You’ve got it: Your million-dollar business idea. The only problem? You don’t have a million dollars (yet—fingers crossed!). Launching a new business takes passion, courage, and, yeah, capital. If you don’t have at least a small bank of startup money lying around—few of us do—it can be the roadblock that prevents your million-dollar idea from taking off.

Fortunately, new businesses like yours have a few options when it comes to funding and capital. And you don’t have to be well versed in finance to take advantage of them. The following are a few common ways entrepreneurs can fund their big ideas—transforming them into small businesses.

5 Ways to Improve Your Online Reputation

September 13, 2022

By: Jamie Cohen

How often do you check your social media accounts? Or, Google your name? If you don’t track them, you’re missing out on important information about your online presence.

Your online reputation matters. And it’s something you should take seriously. In today’s society, where everyone seems connected, staying ahead of the game with your brand is essential. It could be the difference between a thriving business and one that struggles to get leads or sales.

Why is your online reputation important? Click To Tweet

6 Ways to Use Year-end Profit to Win in the Long Run

September 6, 2022

By: Matthew Gillman, SMB Compass Founder

If you have any money left at the end of your fiscal year, you’re doing better than a lot of others who are simply breaking even. When a business is profitable, the question of what to do with the funds comes into question. Many business owners may simply carry funds forward for use in the next fiscal year to maximize their resources or cover unexpected costs. In this article, we’ll explore six options to consider if you have money to spend on your business.

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