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Small businesses often operate on tight budgets. But over time, you’ll learn a few tricks to increase your earnings and save money, which can lead to healthier cash flow. Helps you accelerate. Get tips from members of our online small business community below.
Learn about different types of bank charges
Banks charge fees for various goods and services. Avoiding all fees entirely may not be feasible for most businesses. But it’s helpful to learn about the different types so you don’t pay more than you need. Harry and Sally Vaishnav from Small Biz Viewpoint discuss some of them in this post.
Make money with Patreon
Creating content is a great way to connect with potential customers and share valuable information. But at some point, entrepreneurs may need to find ways to monetize their content. Corrie Alexander, on her Work at Home Woman blog, details how she uses her Patreon for this purpose. And BizSugar members provided their thoughts here.
Effectively manage your business cash flow
Healthy cash flow helps businesses comfortably pay expenses and invest in growth opportunities. However, many companies struggle in this area. Get tips in his SMB CEO post by Ivan Widjaya.
Consider what you are paying as a new franchisee
Buying a franchise offers a lot of earning opportunities. Also, there are different options available for different budgets. But before you make the leap, it’s important to think about what you’re paying for. Joel Libava elaborates on this topic in this his OpenWorks post.
Drive Revenue with the Latest Ecommerce Trends
An e-commerce business needs to sell products to generate additional revenue. That means always listening to your customer experience and learning what they want. There are a few trends that can guide your decisions when updating your shop, including one from Nayana Bhasurasen’s Pixel Productions post.
Find this month’s AppSumo deals
Saving money is also an effective way to improve a company’s bottom line. AppSumo is also a useful resource for finding great deals online. In this his 99signals post, Sandeep Mallya lists some of his top deals from January 2023. The BizSugar community has joined the conversation here.
Implement soft selling in your sales strategy
Increasing direct sales can dramatically improve a company’s cash flow. This may require you and your sales team to learn new techniques such as soft selling, for more information see Macauley Keevins in his SmallBiz Technology post.
Get a Good Standing Letter
At some point, your business may grow seeking outside investors and funding options. These investors and lenders are required to provide several documents, such as letters and certificates of good standing. CorpNet’s Nellie Akalp explains what this document is and when you might need it.
Learn how marketers are spending money in 2023
It’s often worth investing real money in marketing. But not all goals and campaigns are worth the cash. To spend your company’s budget wisely, it can be helpful to know how effectively other marketers are spending. Neil Patel digs deeper in this post.
Make your dream app a reality
Increasing your income can mean trying entirely new ideas and business ventures. Always Mobile If he’s been wanting to add an app to the mix, now is the perfect time. Chetan Saxena shares the details in this post on his Borderless Mind.
If you’d like to suggest your favorite small business content for consideration in an upcoming community roundup, please send your news tip to sbtips@gmail.com.
Image: Envato Elements
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