5 Small Business Do’s and Don’ts

by Debbie Moulton, A Step Up Bookkeeping Services

1.  Charge what you’re worth.
First you need to do your research to see what your competition charges.  And based on that knowledge, charge what your products and/or services are worth.  Sometimes small business owners feel a little self-conscious about their fees; never compromise your value in order to get business.

Do:  Communicate the value of your services.
Don’t:  Be apologetic and tentative when talking about fees.

2.  Be visible.
Often small business owners are not as good at PR as they are with their business specialty.  But that’s no reason to become a hermit.  As awkward as it may feel, you need to get out there and be both seen and heard.  Attend community functions, meet your costumers, and spend time socializing; the more you interact with others, the greater your networking opportunities.  Remember, everyone is a potential costumer.

Do: Make appearances and talk about what you do.
Don’t: Be pushy and overbearing.

3.  Be Helpful.
Small business owners can live or die on one account or customer. By keeping the business “Golden Rule” you will be able to capture the big sales with the little sales. There’s just something about knowing you have had a positive effect on those you do business with everyday.

Do: Make each interaction with customers the best one they have had.
Don’t: Be arrogant and unresponsive.

4.  Have a marketing plan.
Remember Field of Dreams?  If you build it, they will come.  When it comes to your business you have more in common with Costner’s character than you might think:  If you publicize, they will purchase. You need to get the word out in order to get costumers through your front door, because without costumers, you won’t make any money.  Assign yourself a marketing budget and

Do: Research marketing methods that work for your particular business niche.
Don’t: Spend lots of money on an unproven marketing technique.

5.  Hire an accountant or bookkeeper to help with your finances.
More than 50% of small businesses fail, and the majority of those failures can be attributed to poor financial management.  Why draw yourself away from what you do best: producing your product.  You may think that you’ll be saving money by doing your own accounting, but the truth is that a good accountant will save you money, and possibly your business, in the end.

Do: Find someone who will do more than just keep your books; find someone who knows how to make your business more profitable.
Don’t: Cut corners with your business bookkeeping.

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We hope you have enjoyed this article, written by Debbie Moulton, owner of A Step Up Bookkeeping Services.  A Certified QuickBooks ProAdvisor, Debbie has helped many small business owners improve their cash flow by streamlining their bookkeeping processes.  To improve your own accounting system, call Debbie at 603-679-2022 for a no obligation, no cost initial consultation.