Small Business Blog

A recent survey conducted by TD Bank indicates that most small business owners (87%) expect to meet or beat last year’s performance. Hoping to see real and lasting recovery, more than 90% of respondents said they were considering “proactive strategies to prepare for an economic upswing.”

2009 was a tough year for small business. Two-thirds of respondents characterized the recession’s effect on their business as “negative.” Almost one-quarter of respondents characterized the impact as “very negative.”

Not surprisingly, 34% of respondents said that managing cash was their biggest challenge last year. (Maybe they are not using an integrated cash flow spreadsheet, such as the one we have available for free at BusinessMorgue.com??) What is surprising is that 24% said that, in retrospect, they should have done more sales and marketing. (Hmm…that doesn’t sound like the small business owners I know…)

Read TD Bank’s press release here.

SmallBusinessNewz published an article today defining the five steps you need to take to make an effective television commercial. The article is accompanied by a video hosted by Jon Bond, Co-Chairman of creative agency Kirshenbaum, Bond, Senecal and Partners. In the video, Bond explains the five steps of commercial-making, four of which are really just questions you need to ask yourself. The answers to those questions will shape the creation and production of your commercial. I would add that small business owners and entrepreneurs should be asking these five questions before producing any kind of advertising.

Who are you talking to?

Who are you?

What is your brand’s personality?

What is the offer?

Make your commercial.

See the full article here.

Here’s your small business sound byte for the day: all of the millions of Web searches completed daily can be group into just three categories. Do you know what they are? (continue reading…)

 

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So you have a large debt repayment due on the 15th of this month. And you have to run your payroll on the 13th. Are you going to wait until the 10th to decide if you have enough money to meet these obligations? Or are you going to cross your fingers and hope that you have enough room on your credit line to cover any potential shortfalls? (continue reading…)

 

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Here’s a quick quiz to test your knowledge of cash flow:

Which of the following is an ongoing source of repayment for your small business credit line?

a. Your equity
b. Your accounts receivable

Which of the following is a source of cash?

a. Rising inventory
b. Rising debt

If you had to think too long to answer those questions, you might need a little refresher course on cash flow. (continue reading…)