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Digital Marketing Strategies - Complete Controller

Most small businesses have equally small budgets when it comes to marketing. While a small business can have a nice client base and steady revenue flow, revenue is often focused on operations and put back into the business or has to go to shareholders and investors after operations are covered. This pull on the small business income leaves little for the business owner to use towards marketing efforts. However, marketing is crucial to all businesses, large or small, and should get your attention, if not your business budget. Check out America's Best Bookkeepers

Having a low budget for marketing does not mean you do not have some marketing tools to build your business and budget. Online marketing provides multiple options, most of which cost nothing and a few of which have a minimal cost. All you need is some creativity and some marketing strategies, and you can increase traffic, revenue, and client base in no time. Here are six amazing online marketing strategies for small businesses that are sure to increase your bottom line.

Create an Optimized Website

First, just having a website alone is essential as it provides credibility when a person searching for what you offer can see it with their own eyes without ever stepping foot in your business. Your website can further be used to drive traffic that would otherwise never even know you existed. You can spend a bit of money and have someone build your website and host it for you as well as guide you in all you need to know to make your website effective, or there are free website building sites that are fairly user friendly that can guide you in building your website and how to optimize it to drive traffic.

Research Your Competition Check out America's Best Bookkeepers

It may sound a little on the stalker side to track down what your main competitors are doing or to search out businesses in your same niche that are successful and find out what they are doing to get those dollars you are after, but it’s not, it is good business sense. Since competing businesses have existed, competitors have actively sought out what makes their competitors get business over them. Online you can do searches for what your business offers and see what competitors come up with. Analyze their site and find out what their online presence is and how they use it. This research will provide you the opportunity to drive business your way by taking on the best online marketing practices of your competitors.

Run AdWords ads

Running some AdWords ads will take a bit of your budget, but you can set a cap, and even if you can only afford a bit at first, this will give you a lot of bang for your online marketing buck. AdWords ads help you to boost your site even more than without it based on keyword optimization on your website. Utilizing the optimized website without AdWords ads will have your site doing a slow climb up in the Google ranking for search terms used on your site. AdWords ads speed up this process, so it is worth the money if you can afford to do it for even the lowest level or length of time. Check out America's Best Bookkeepers

Link Building on Other Optimized Sites

An extremely effective free online marketing strategy is to have links for your website on other web pages. While there are versions of this idea that would cost you to pay a site to have a link to your site on theirs, if you have friends, family, or partnerships with websites, most will easily allow you to link to your site. You can offer a little quid pro quo and have links to their site on yours in some cases. The more your site is linked from other sites, the more optimized your website becomes and ranks higher in Google searches.

Social Media Marketing

While everyone uses social media to advertise and market their businesses for free or paying for ads, it is still an effective marketing strategy to drive business your way. Even if your connections or those who find your business through hashtags and other social media marketing efforts don’t need what you offer now, they will easily know that you offer that product when they do or know anyone else who does or service when they need it.

Conclusion

Marketing doesn’t have to be expensive to be effective. Some of the most successful online marketers spend little budget but have a lot of impacts. Using these five online marketing strategies will increase traffic and let customers know about your business and what you offer, therefore expanding your business and growing your bottom line.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Business Risks - Complete Controller

While the word risk might be considered scary to most, when it comes to the entrepreneur or small business owner, they knew they were taking on when they started the business. Though there is an awareness of risk, it is essential as a small business owner to know and understand the types of risks you will take on as a business owner. Here are four of the most common risks that small business owners need to be aware of to be prepared to overcome them. Check out America's Best Bookkeepers

Financial Risk

While every business could be considered a financial risk for its shareholders, it is the highest risk at startup and initial investment. It has no financial track record to show returns. Financial risks can range from the products or services the company offers risking a disconnect or failure with customers, to unforeseen disasters that can devastate a business in the beginning stages of operations. The financial risks a small or startup business faces are many, but the rewards can be significant even beyond profits if the risks are managed. Check out America's Best Bookkeepers

Reputation Risk

When owning a small business, you automatically take on risk to your reputation. These risks extend once you start the business to its reputation separated from you as the owner. Understanding that you and your business reputation can affect the success or failure of the company is essential. The management of the risks on your reputation is made more difficult in our digital world where feedback, both positive and negative, can be given within minutes of experience. Social media has made information and the sharing of it instant and, in some cases, viral. As a small business owner, this is another risk that has high satisfaction reward if you take it on and understand that you can minimize this risk by awareness and being proactive.

Security risk

Anyone that is on the internet taking a security risk. This risk is particularly daunting for the small or startup business owner. A single cyber-attack could potentially destroy a company in a fell swoop. Understanding security risks for both the brick and mortar business and online business gives you an advantage when it comes to protecting against them. If you are unsure how to protect against cyber-attacks through software and protocols, it would be prudent to hire someone to safeguard your professional system. Some professionals deal with security at the brick and mortar business front as well. While security risks are common, they can also be minimized by taking proactive measures. Check out America's Best Bookkeepers

Investment Risk

Risks in investments made by the business are the same as individual risks made in investments. If the business makes investments in stocks or other businesses, it is the business that takes the hit if there is a failure or downturn. Before making investments in the business name, you as the business owner must understand the risks versus the rewards and make investment decisions based on the business’s tolerance to take a hit. Most of the business risks should be in the business itself rather than outside investments until it is profitable and productive.

Conclusion

A small or startup business owner needs to be prepared to deal with all types of business risks and challenges. While these risks may seem overwhelming or even too risky, if you are informed of the risks and understand them and how to manage them, they should not hinder you from having your dream of owning and operating your own business.  Every business owner has to face risks in life and finances. Managing risks and using your understanding will guide you in making sound financial decisions that will help you succeed in business and life.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Financial Risks - Complete Controller

Being a small business owner alone can be a risk. When you risk money, time, and your future, deciding to start a small business may seem challenging. But despite the challenges, most small business owners will say that the risk is worth the reward because running your own business and having some control over your career and financial destiny is a powerful position in which to be.

Financial risk does not have to be something with which a small business owner needs to be overly concerned. If you have a good business plan and heavily research your business’s financial aspects, the risk can be manageable to imperceptible. If you know and identify all the financial risks you can face, you can develop solutions to minimize these risks. Here are some financial risks every small business owner should understand and how to manage them to success. Check out America's Best Bookkeepers

General financial risk

Financial risk refers to the risk that the company’s cash flow will not meet its financial obligations. This risk is shared by every business that exists and is the biggest concern of an entrepreneur. Financial risk isn’t limited to cash flow issues; it also relates to funding sources.  Financial risk for the business owner can never be eliminated. However, it can be minimized by having a stable accounting system and by vetting investors.

Market risk

Market risk refers to the risk of loss due to fluctuations in the market. To minimize this risk-taking a toll on your business, an entrepreneur needs to plan how to ride out market downturns. You know your business better than anyone else and should know your business’s strengths and weaknesses and what it offers. Having a strategy in place to combat market fluctuations will lessen or even eliminate this risk. Check out America's Best Bookkeepers

Credibility risk

Credibility risk refers to the risk when putting out a new product or service in the market. It is a proven fact that consumers are more willing to try a new product from a brand they already trust. Building your brand from the beginning will eliminate any risk when offering new products or services or making any significant changes to the business. Even if a new product or service fails to be a hit with consumers, you will retain loyal customers if they trust your brand before the failure.

Technology risk

Technology risk refers to the risk of losses due to technology failures. This risk is incredibly risky for those businesses that are technology-based or dependent. Even if your company is not technology-based, even a website crash could spell significant revenue loss for a business. This risk is easy to minimize by investing in reliable and up-to-date software and regular security checks and maintenance. Check out America's Best Bookkeepers

Competitive risk

Competitive risk refers to how direct or indirect competition impacts your business. Unless you have a product or service that no one else in the world has, every business has a competitive risk. Start-ups, in particular, are vulnerable to this risk due to competition with well-established companies with the same product or service. However, this risk can be seriously diminished by researching the competition. Learning what works for them and their weaknesses can help you form strategies to give you a competitive edge over the competition, even if they have been in business longer.

Conclusion

For the small business owner, risks are a part of the business ownership process. While these risks cannot be avoided, they can be minimized. The key to facing risks is knowing what they are and formulating a plan to combat them and stop them from damaging your business. If you make yourself aware of the risks, your business will thrive and succeed, possibly even beyond your expectations.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Small Business Bank Loans - Complete Controller

The bank expects the entrepreneur to finance itself for a significant part of the financing needs and therefore take part in the risk. The bank is seldom interested in approving loans for a small business if the entrepreneur or main investor has not put up the credit of their own. Check out America's Best Bookkeepers

Insufficient Contributions

  • On the current bases, one generally speaks of a minimum level of own contribution of the order of 20%, but this is theoretical because specific parameters can imply a need for own contribution more consequential, for example. If a starter project or for specific sectors.
  • We can consider two main reasons for this requirement: (i) the more significant the entrepreneur’s contribution, the more the risk of the bank is limited, especially since the bank is by definition reimbursed first, and (ii) the more he entrepreneur is involved in his project, including financially, the more he is stimulated to create value.
  • Please note, this does not only concern starter projects! It is indeed also necessary during the development phase of the activity that the company take a more or less substantial share of the risk at its expense. Sometimes a recapitalization is even necessary.

Financial Imbalances

  • Specific financial imbalances can appear both in the asset structure of a company and in its profitability structure.
  • Considering the impact that the existing and future situation may have on the business’s viability and, therefore, on its ability to repay loans, the bank is careful to analyze with precision the main related indicators. These main indicators relate to solvency, liquidity, working capital, working capital requirement, gross margin, added value, EBIT (DA), etc.
  • A manager / associated current account with assets or liabilities will also have an impact.
  • These analyzes are carried out based on the situation before and after integrating the new loan (s). Check out America's Best Bookkeepers

Insufficient Warranty

  • As much as the bank analyzes in-depth the probability of default on loan to be granted, it also wishes to cover its risk if a default occurs, via guarantees.
  • However, it is quite common for a company not to have elements that can serve as sufficient collateral in the bank’s eyes, especially since the requirements in this area have increased in recent years. In such a case, the bank generally requests private guarantees (real or personal) or refuses the credit.
  • There are various solutions to try to make up for this lack or avoid having to excessively link the business’s risk to the private heritage of the entrepreneur, for example, by calling on public solutions and the Investment Fund.
  • Also, avoid giving too many guarantees too quickly to a single bank, as you will then be “married” to it without any real possibility of requesting another.

Unprofitable Demand

  • In recent years, banks have taken steps to improve their efficiency, which is reflected in an increased desire for standardization and automation. Consequently, companies’ banking contacts, especially in small companies, are pushed to manage the time spent on each request. Therefore also to filter files that are unlikely to be approved or to avoid applying an overly tailor-made treatment if the profitability potential of the file is limited.
  • Thus, any element that weighs down the process requires additional action by the bank; therefore, risks impacting its assessment and processing of the file.
  • This can be seen, for example, when the bank has to submit small files to the Participation Fund or the Brussels Guarantee Fund. Check out America's Best Bookkeepers

Other Elements Related to the Bank and its Environment

Other elements specifically related to your bank and its environment can impact the lending process, such as:

  • What is the general economic context and that of the banking sector: growth, stability, crisis?
  • What is the sector’s regulatory context: are there increased requirements in terms of the financial soundness of banks, are they more controlled and supervised in their management of granting of credit, do they have increased responsibilities vis-à-vis their customers?
  • NB: a more complex situation in the banking sector’s economic and regulatory environment (as it is currently the case), does not fundamentally change the rules for granting credit but leads to a stricter application of the fundamental logics summarized in this article.
  • What is the bank’s current risk policy: does it have the will or the capacity to broaden its clientele or outstanding credit?
  • What is the bank’s current commercial and segmentation policy: are there excluded sectors, is it open to starters, is it mainly interested in private accounts?
  • Who are your interlocutors and the decision-making process? Do you have the possibility of visually presenting and defending your project to a direct interlocutor, is he competent, and does he have real weight in the decision?

Note: Be careful. The more people there are, the more there is a risk of misunderstanding and loss of information.

With this reading grid, you can try to deduce if your expectations are realistic and especially if you have the possibility of increasing your chances of success by adopting one or the other parameter!

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Accounting Tools - Complete Controller

Small businesses have many aspects to consider when it comes to operations. There is production, sales, time management, staffing, and most crucial of all, accounting. While every aspect of the business is essential to make a business successful, you can have the best product, service, and staff and the highest sales and still fail if your business’s accounting is handled poorly. Check out America's Best Bookkeepers

There are multiple things to consider when it comes to business accounting. There is inventory, supplies, accounts payable and receivable, taxes, financial statements, and if you have employees, payroll. Each small business has different needs when it comes to accounting, and there are a few ways to handle accounting needs. You can hire a professional accountant or bookkeeper or both. You can try to handle bookkeeping yourself with no accounting tools or use accounting tools through online cloud-based services or accounting software. While hiring a pro will always be the best option, not every business can afford the cost of paying them, and trying to wing it on your own can be dangerous to your bottom line. Implementing accounting tools is the most cost-efficient and smart way to handle your accounting needs. Here are a few of the best accounting tools on the market today.

Sage Business Cloud Accounting

Sage Business Cloud Accounting is easy-to-use cloud-hosted accounting and payroll software for small business. It offers graphs and dashboards, and transaction drill-downs that provide you real-time accounting information via the cloud online, available to you or your accounting representative anytime night or day. It works across many platforms and with PCs, Macs, iOS, and Android. It also works excellently with your desktop, tablets, and smart devices. Check out America's Best Bookkeepers

FreshBooks

FreshBooks is a great accounting software meant for solo or freelance business owners. It is a lighter bookkeeping software that tracks time, invoices, business reports, and payments. It is simple to use but does not have anything to deal with payroll or inventory. This is very basic, and if you ever grow your business from a sole proprietorship to a small business with employees, you will need to use different accounting software. It is affordable with a relatively low monthly subscription fee.

QuickBooks

Intuit’s Quickbooks is the best overall accounting software packages for business accounting. At one time, a fully featured software that could only be used with a one-time expensive purchase for your desktop, Quickbooks can now be used through the cloud and a monthly subscription. Quickbooks is also the most popular accounting software, so there are videos with tutorials and online guides. The best reason to use this software for your business is to work well for various companies of all sizes. The cloud makes it similar to the Sage accounting tool in convenience and availability. Check out America's Best Bookkeepers

Xero

Xero is a cloud-first accounting system with over 600 integrations that help business owners with everything from inventory to payroll and much more. This software is more user friendly to Mac users when it comes to cloud-based accounting software. Xero can also track money and time spent on a project to give you the complete cost analysis. Xero is a monthly subscription accounting system; the cost will vary depending on whether you require premium features.

Conclusion

Regardless of your business’s size or business needs, there is an accounting tool that fits your business accounting needs. Whether you use a desktop version of accounting software or use a cloud-based tool, the essential thing is to have accurate accounting for your business. While the product or service you offer may be amazing, if you don’t have accurate accounting, your business is at risk of failure. Do your research on the accounting tools available and choose the best for you and your business.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Disaster Preparedness - Complete Controller

Whether you are running a small business or a big one, you will face challenges while setting up your business and keeping your employees safe. One of the biggest challenges an organization will ever face is disaster management, especially the natural ones. It doesn’t matter where your business is established; disasters occur in every part of the world in the form of storms, floods, earthquakes, and many others.

Businesses that are well established might get back on their feet, given the number of resources at their disposal. However, the situation is not the same for small businesses. Most of them are not prepared to handle floods, chemical explosions, fire hazards, and other disasters. Check out America's Best Bookkeepers

Why is it essential to handle disasters?

When disasters are not handled properly, they can damage property, equipment, inventory, displace employees, all of which can cause significant revenue loss. You need to make sure that you have an emergency plan to protect your business assets, safeguard your employees’ wellbeing, and minimize any interruption that can slow down your business in the future.

In case your business has suffered from a disaster, the first thing you need to do is protect your employees. It is recommended that you ask them to work from home. Then, you transfer all your data to a cloud database. Backing up your data daily can protect you from significant financial losses.

Let’s learn why disaster management or preparedness is essential for small businesses.

Making a Professional Impression

When you have a disaster recovery plan, you are immediately letting people know that you are keeping things professional. You don’t take anything for granted, and no matter the size of your firm, your approach is no less than a prominent business owner. When a small business protects its valuable assets and people from disasters and documents everything, it leaves a strong professional impression. Check out America's Best Bookkeepers

Employee Safety

When an employee works for a company, it becomes the firm’s responsibility to ensure their health and safety. When employees feel safe and secure, they work harder and perform better, resulting in better organizational productivity. If you do not protect your employees, you will have a bad reputation in the industry and lose your employees due to injuries or, worst-case scenario, death. 

Business Continuity

One of the most important reasons for having a concrete disaster recovery plan is for business continuity. Many types of business disasters occur naturally, and you need to make sure those disasters don’t have a significant impact on your business; otherwise, your business would not be able to recover ever. If you want to continue your business operations, then it can be as easy as asking people to start working from home for a while.

Cost-Efficiency

Disaster plans are not for issues that take place at hand. Even a business that doesn’t have a recovery plan can handle a disaster. The point is how to get things back to normal once the disaster is over. Small or big, your business will suffer certain losses, so how you recover from that loss is the bigger question, and a recovery plan can give you the direction. If you don’t have a plan, you would be spending thousands of dollars on things that might not be so important in the first place. Check out America's Best Bookkeepers

Improving B2B Relations

Every company not only has to look after its customers but also its business partners as well. If you are facing a disaster, you might be prepared for it in advance because it ensures your business partners that you are not taking things for granted, and it gives a positive impression of you.

Conclusion

Before they expand themselves into the market and find a stable position, small businesses are always walking on thin ice. Even a minor disruption can cause a significant ripple effect causing a business to collapse if it is not prepared. Having a disaster recovery plan helps business owners protect their valuable assets and ensure no harm is done to the business from which they cannot recover.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Accounting Software - Complete Controller

Every business, whether large or small, must have a reliable accounting system. Some businesses will require hiring a professional accountant or bookkeeper, while others may require excellent accounting software. If you are a small business owner and on a budget, accounting software will be essential to efficiently running your company’s finances. Since there is more than one accounting software choice, here are the top six and what they offer to help you decide which is right for your business. Check out America's Best Bookkeepers

Quickbooks

Intuit’s Quickbooks is considered one of the best overall accounting software packages for business accounting. At one time, a fully featured software that could only be used with a one-time expensive purchase for your desktop, Quickbooks can now be used through the cloud and a monthly subscription. Quickbooks is also the most popular accounting software, so there are videos with tutorials and online guides. The best reason to use this software for your business is that it works well for various companies of all sizes.

A few downsides are that Mac users can’t get the full features on the cloud version and that if you have an issue, there are some incorrect answers on Intuit’s Quickbooks forums, which can make it difficult to solve a problem.

Xero

Xero is a cloud-first accounting system with over 600 integrations that help business owners with everything from inventory to payroll and much more. This software is more user friendly to Mac users when it comes to cloud-based accounting software. Xero can also track money and time spent on a project to give you the complete cost analysis. Xero is a monthly subscription accounting system; the cost will vary depending on whether you require premium features. Check out America's Best Bookkeepers

Zoho Books

Zoho Books is a simple accounting software that is user friendly and easy to use. It has integrated dashboards and graphs that keep the usability straightforward and doesn’t require you to be a certified accountant to understand. This software is only suitable for small businesses that don’t have many employees, inventory, or complex needs like larger companies have. It includes some great features like automated payment reminders for accounts payable and accounts receivable. It also has automated and manual features that help with bank accounts, project management, and inventory. This software is a monthly subscription that varies in cost, depending on what features the user needs.

Wave

Wave is free accounting software, and while generally, you need to live by the rule of thumb, “you get what you pay for,” this software is still good for accounting basics. This software allows you to perform bookkeeping functions for both personal and business finances in one place. But remember, it is free, so it does not offer some of the more in-depth features that other paid software has. While most of the basic features are free, Wave does charge for processing payments and payroll services. These services are similar in quality and what it offers as other paid accounting software.

FreshBooks Check out America's Best Bookkeepers

FreshBooks is a great accounting software meant for solo or freelance business owners. It is a light bookkeeping software that means tracking time, invoices, business reports, and payments. It is simple to use but does not have anything to deal with payroll or inventory. This is very basic, and if you ever grow your business from a sole proprietorship to a small business with employees, you will need to use different accounting software. It is affordable with a relatively low monthly subscription fee.

GoDaddy Bookkeeping

GoDaddy is not generally known for accounting, but the company obtained an accounting software company formerly known as Outright. Its features are similar to FreshBooks, but it is excellent for small, individually owned businesses since it has not payroll features. It is the least expensive software on the list (besides Wave, which is free.) GoDaddy Bookkeeping is excellent for tracking time and makes doing quarterly taxes a snap. The most outstanding features are the integrations it has with online sales platforms like eBay, Etsy, and Amazon, so if your business makes a lot of online sales, it is a great choice.

Conclusion

Accounting software can be the key to making sure your small business runs smoothly when it comes to financial tracking. The type of accounting software you choose will depend solely on your needs as a small business owner. Before choosing accounting software, take your time to determine your needs and use this list to help you decide which will be the best fit for you and your business.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
marketing trends - Complete Controller

To remain successful as a small business, you must keep up with the times. Trends in technology, customer service, and marketing can significantly impact small business, so knowing what the current trends are and how you can implement them into your business is vital. Here are some of the current trends for small businesses and ideas on integrating them into your small business operations.

Green and Socially Responsible Businesses Check out America's Best Bookkeepers

The past decade has seen a rise in customers looking for businesses going green or being socially responsible. These values are especially important to Millennials and Generation Z. Depending on your target demographic; you may consider adding some green or socially responsible practices to your business. Here are some changes you can make to be greener and socially responsible.

  • Use local products or services
  • Recycle and encourage customers to recycle also
  • Use green cleaning products
  • Use vendors that are green or socially responsible

Going green or being more socially responsible doesn’t require a total revamp of your business and can be done through small but high-impact changes.

Customer Review Impact Check out America's Best Bookkeepers

Businesses getting online reviews is not a new concept, but it is a concept that is expected to grow year over year. When deciding where to take their business, many customers rely heavily on reviews and ratings to make those decisions. It is crucial, as a small business, to have a strong online presence that is positive. As a business owner, it is your responsibility to ensure your business is listed on any site a customer can create a review. The more positive reviews, the better, so don’t be afraid to ask satisfied customers to review your business; you can even give them incentives to take the time, such as discounts or freebies.

E-Commerce

Most people think of enormous online retailers when they hear e-commerce; however, many storefront businesses are opting for an online purchasing presence. This trend isn’t going anywhere anytime soon. While some customers will always prefer to shop in person, many consumers opt to buy online. The convenience is the number one reason that many shoppers love an online purchasing option. Even if you are a business that offers services rather than products, there are e-commerce options you can add by having products related to the service you offer. You can also become an affiliate for a business with products.

Mobile Marketing

Mobile marketing is also nothing new, but the growth and popularity are making it a trend to consider. Here are a few mobile marketing ideas a small business owner might consider adding.

  • Geo-targeting with ads to customers close to the business
  • Creating an interactive app for your business (it’s easier than you think)
  • Use of text message marketing
  • Mobile methods of payment Check out America's Best Bookkeepers

Livestreams, Videos, and Stories

Small businesses are using these interactive trends to get more customers with great success. These social media trends have been building over the last couple of years and are expected to expand as technology advances. Posts are still an excellent way to connect. Still, Facebook and Instagram stories and live streaming bring a visual and interactive aspect to your business and should be considered a significant trend you should implement. People love to get visuals, interact, and be involved, so using videos, stories, and especially live streams can pay off big.

Conclusion

These are a few of the current trends that small businesses need to watch, but trends are forever changing. Responsible business owners always need to make changes to their businesses using trends when it makes sense for them. The worst thing a small business can do is change too much towards trends, the small business should be authentically you, and any changes you adopt should flow with your current business, or you risk losing your already loyal client base.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
business owners mental health - Complete Controller

There are many causes of stress for small business owners. The constant pressures of building your business, growing the bottom line, paying your employees, and juggling the many tasks necessary to run a business can take a stressful toll. That toll can hurt the business and other staff members,s so before that happens, you need to focus on your mental health. Here are some tips to help you manage stress while continuing to focus on your business. Check out America's Best Bookkeepers

Focus on the Positive

As a small business owner who takes on the entirety of the stresses of owning a business, it is easy to begin focusing only on the sources of stress or the negative. Changing your mindset towards focusing on the positive and the things that are going right can refresh your perspective and minimize stress while also benefiting the business and its employees by boosting morale.

Prioritize Tasks

Making a list and prioritizing tasks is one of the quickest ways a business owner can relieve stress. Even if the list seems long, having the tasks at hand prioritized will make the day run smoother. It also helps the staff know what needs to be done and assists with delegation. Many business owners carry a lot of stress because they try to do it all themselves, even when they have capable employees. Check out America's Best Bookkeepers

Empty Your Brain

When you are a small business owner, it’s hard to punch out of the office and leave work at work. Often, all the tasks at hand, issues that need attention, and other business concerns will be on the owner’s mind non-stop. There are a few things you can do to help empty your brain of business thoughts so you can recharge and rest. Watch a show, play a game, or read a book with nothing to do with your business and escape. This escapism will help you clear your mind of business thoughts and wind you down to a good night’s sleep. If you continue to have trouble shutting your brain down for rest, try writing down your thoughts or make a list of things you need to focus on the following day and leave them for tomorrow.

Take Breaks

It is easy to get bogged down with business and forget to take breaks. While employees have scheduled breaks and lunches, the business owner often won’t approach breaks in the same way. An easy fix is to schedule yourself breaks and a lunch that equals that of your employees. If you don’t have employees treat yourself as one anyone. A great way to remind yourself of a scheduled break or lunch is to set the alarm; every smartphone has one. Additionally, you can take more extensive breaks from the business by way of vacations or day trips. Time entirely away from the business can go a long way in relieving stress. Check out America's Best Bookkeepers

Take Care of Yourself

Most business owners don’t take great care of themselves physically or mentally. To combat this, there are stress-busting things an owner can do. Schedule yearly physicals and checkups to medically keep an eye on your physical and mental well-being. Also, get regular massages, or set up spa days. You can also eat healthier, exercise more, and take vitamins.

Conclusion

Besides business operations, managing stress is of the highest importance for a small business owner. Even if the business is a success, it can adversely affect the company if the owner is stressed. If you are a business owner or part of the staff of a small business and there is stress, use these tips to help you manage stress. Some businesses fail due to financial struggles, but others fail because the owner becomes overwhelmed. This is your dream; take care of your stress so you can make your dream a success and live a stress-free life while you do it!

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
E-Billing and Invoicing - Complete Controller

When it comes to starting and running a successful small business, technology has to be considered as a crucial aspect of the business. Due to the nature of technology and the movement to online transactions, e-billing and invoicing have become more widely used by small businesses. There are distinct advantages for you and your customers, and they are as follows.

E-Billing and Invoicing Customer Advantages Check out America's Best Bookkeepers

Convenience

Convenience is not only an advantage for your customer but to you as the business owner. By offering your customers various payment types, you are increasing the chances that your customers will pay their bill in full but on time. Customers using the option of paying online can choose when and where they complete transactions, therefore, ensuring on time or early payment.

Control of Finances

Because online bill paying is instant, this gives the user control over their finances. Sending a check takes time to arrive, process, and debit from their bank accounts, leaving time to possibly utilize the funds causing the check not to clear due to insufficient funds. E-billing eliminates this because instant account debit applies whether the customer chooses, debit, credit, or e-check.

Email Reminders

E-billing and invoicing include automation to remind customers of their upcoming due date. Not only does it send reminders, but it also offers an option to “Pay Now” when it sends the reminder before the due date. This option increases the probability of the customer paying early. Check out America's Best Bookkeepers

Automatic Payments

Speaking of automation. Most e-billing and invoicing systems have an option for automatic payments. The customer can opt into this automatic payment debit. In some cases, the company can offer discounts or fee waivers for those using the automated option. Automation increases paid receivables by a large percentage.

E-Billing and Invoicing Business Advantages

Instant and Secure Invoicing

Invoicing is made convenient and secure by emailing the invoice to the customer with the mouse’s click. The invoices will also trigger automation for email reminders. At the time of the original invoice, there will be a “Pay Now” option increasing the possibility that the customer will pay before or on the due date.

Less Time Invoicing and Bookkeeping

Electronic invoicing allows you to distribute multiple invoices in less time to create and send one paper invoice. You can use automation to link invoicing to your bookkeeping software, which can save time spent reconciling accounts receivable entries.

Cost reduction

Sending automated e-invoices saves money. There are savings on time, mailing products, and postage. The savings can be quite a lot for high volume businesses. Small businesses benefit from this cost savings the most since budgets are generally tight for small businesses. Check out America's Best Bookkeepers

Storage

Automatic reminders and electronic invoices can be saved on your business computer’s hard drive. You can also back up your files on external drives. Paper documents must be stored in filing cabinets taking up space and utilizing precious time to file them. Also, Invoices can be integrated into your accounting software, making it more accurate than paper document filing, which leaves the possibility of lost or misplaced invoices.

Conclusion

Because of security, accuracy, convenience, and quick payment, e-billing and invoicing are quickly becoming the norm for accounts receivable. Whether you are a customer or a business owner, the benefits of e-billing and invoicing are numerous, and the disadvantages are few.

 

With more and more customers going online to find a payment solution that works for their needs, electronic invoicing and billing is an excellent tool for your business that provides your customers a seamless and enjoyable billing process.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers