The important thing about running a small business is to know the direction in which you’re heading…do you know what your short term and long term goals are? Do you have a day-to-day plan which leads you to your goals?

Be aware of what your competitors are doing and practice good money management at all times. All this will prepare you to recognize potential problems before they arise. In order to survive with a small business, regardless of the economic climate, it is essential to surround yourself with smart people, and practice sound business management at all times.

Another important aspect that many people overlook is not just looking at your short term goals, but also your long term goals. How do you plan to grow your business? What comes next? Where do you see your business in 3 years, 5 years or 10 years?

Do you have a small business credit line? You may want to build a small business credit line with your local bank. One thing worth considering when we’re talking about small business and a cash flow, think about borrowing $100 to $1,000 from your banks every 90 days or so. Simply borrow the money, and place it in an interest bearing account, and then pay it all back at least a month or so before it’s due.

By doing this, you will increase the borrowing power of your signature, and strengthen your ability to obtain needed financing on short notice. This is a kind of business leverage that will be of great value to you if or whenever your cash position becomes less favorable.

How’s your small business cash flow? Long before the cash flow in a business, large or small, starts to tighten up, the money management of that business has to be run as a “tight ship.” Some of the things you can and should do include protecting yourself from expenditures made on sudden impulse.

We’ve all bought merchandise or services we really didn’t need simply because we were in the mood, or perhaps in response to the attraction getting devices of the advertising or the persuasiveness of the salesperson.

Then we sort of “wake up” a couple of days later and find that we’ve committed hundreds of dollars of business funds for something that’s not essential to the success of our own business, when really pressing items had been eagerly waiting for those dollars.

If you are incorporated, you can eliminate these “impulse purchases” by including in your by-laws a clause that states: “All purchasing decisions over (a certain amount) are contingent upon approval by the board of directors.”

This will force you to consider any “impulse purchases” of serious cost, and may even be a reminder in the case of smaller purchases.

If your business is a partnership, you can state, when faced with a buying decision, that all purchases are contingent upon the approval of a third party. In reality, the third party can be your partner, one of your department heads, or even one of your suppliers.

If your business is a sole proprietorship, you don’t have much to worry about really, because as an individual you have three days to think about your purchase, and then to nullify that purchase if you think you don’t really need it or can’t afford it.

While you may think you cannot afford it, be sure that you don’t “short-change” yourself on professional services. This would apply especially during a time of emergency.

Anytime you commit yourself and move ahead without completely investigating all the angles, and preparing yourself for all the contingencies that may arise, you’re skating on thin ice.

Regardless of the costs involved, it always pays off in the long run to seek out the advice of experienced professionals before embarking on a plan that could ruin you.

When it comes to small business cash flow, do you have a plan?

When looking at ethics in marketing, let’s take this to a very basic level…would you be comfortable explaining what you’re doing to your mother and grandmother? Seriously…if you need to ask, you probably know the answer.

I was on a popular marketing message board, and somebody said they had a question and weren’t sure if what they were thinking about was ethical….right here, this is your clue. IF YOU HAVE TO ASK, there’s a problem. The reason we may ask someone is we’re trying to justify the behavior or action we want to take. In this instance the person wanted to be deceptive with a family member so they could benefit from their sibling’s success. Ouch!

In this case it was quite obvious, but what if it’s right on the edge of what may or may not be ethical. It’s a fine line at times, but all you really need to do is this…”Would I feel comfortable explaining what I’m doing and WHY I’m doing it to my mom?”

If you have to ask if it’s ethical….generally you all ready know that answer. There are better ways to take your business forward. Opt to be a better person and let go of the greed.

You’re running ads in your local newspaper, or maybe you’ve built a website for your small business. The problem is, your copy isn’t up to par. Maybe it’s time to learn more about copywriting. If you’d like to be part of a copywriters discussion, be sure to check out the Copy Writing Board forum.

With a mix of seasoned professionals and rookies, you’ll find fresh perspective along with excellent advice. Improving your copywriting skills is going to help improve your bottom line, because when it comes down to it….good COPY SELLS.

It’s easy to get stuck in a pattern. You do the same things in and out on a daily basis. That’s all fine and well, but how do you intend to grow? How will your business thrive with fresh ideas? Ohhh, you haven’t thought about growing your business, only owning it.

That’s a big mistake a lot of people fall into…create the business, run the business, but not growing the business. For a business to succeed in the long run, you need to consider a few things. You can:

1. Grow the business by:
a. getting new clients
b. offering new services

2. Outsource some of your work to others by:
a. delegating tasks to others in your business
b. delegate tasks to virtual assistants who can do your daily, menial tasks

The difference between someone who owns a business, and someone who just runs their business is the ability for it to be able to perform even if you aren’t there doing every single chore and task. If you’re doing everything, all the time, and it’s not “working” for you….you’ve basically just created a job for yourself.

How will you grow and learn?
This week, I bought three books to help me grow and learn…what will you do?
What am I reading?

Small business and taxes go hand in hand. You’ve started a small business online, and while it’s going well, you’ve never thought much about taxes….until now! Its that time of year, and suddenly you realize that you’ve got a small online business. Oops, how did that happen?I was just playing around on line and made a little money. If you made over a certain amount my friend, it’s time to file taxes.

Online retailers are not exempted from paying taxes. With confusing rules and laws, how do they all apply to you, the online business owner? If you’re a business owner, it’s time to “man up” and handle yourself like a business.

Let’s talk sales tax. Did you know that you’re responsible for it? You should be collecting it, along with paying taxes if they are physical products you’re selling. Digital products, and it’s a little different. Here’s the scoop, sales made in your state may need to be taxed, where as sales in another state may not need to be. You’re paying based on your business location.

Listen, don’t panic. Keep good records, speak with an accountant and learn what you’ll need to know. It doesn’t have to be scary. It’s the lack of information that makes it seem so daunting. Be in the know, and figure out what you’re responsible for…it’s as simple as that.

I recently went in search of ecommerce shopping carts. It was confusing and frustrating. There were so many choices, but I really wasn’t sure what would work for me. When it comes time to have a shopping cart, you need to know what you want out of a product, what you expect it to do, and how much you’ll want to pay for it.

One aspect, you’ll need to consider is how payment is taken and made. Does your shopping cart take credit cards, is it secure, and what kind of support does the company offer if there’s a problem? Does your shopping cart take a wide range of payments, and will people from other countries be purchasing items or services?

What is included in the cost of the software, and how much is your monthly fee? Is there a set up fee, and what is that going to run you? What kind of track record does the company have? What are your competitors using? Do you offer physical goods or digital downloads?

Are you buying software, or paying a monthly service fee? How large is your need, and how much are you willing to pay? If you’re using their storage space, how much is included? With ecommerce shopping carts, these are all questions you need to consider before finding “the one”.

When you decide to make a new blog or web site, what tools are you using?? I use Micro Niche Finder to help me find pockets of gold. It’s the ULTIMATE tool when it comes to finding underdeveloped niches.

Let’s look at when you’re trying to break into a competitive market:

Suppose you’re trying to get into the credit card market…Discover Card pays $40 for all new card members you send their way. Not too shabby…oh wait, did I mention everyone and their brother is trying to do that?

Sounds good, until you do a Google search for “credit card” and realize there are 56 MILLION sites in the results. Yikes, lots of competition…

Here’s a secret…Discover applies a 5% cash back incentive on gas purchases, and if you do a search for “credit card gas rewards” you get 56 results. Big difference, right? Yup, it means there’s a LOT less competition. Easier competition means easier money.

No matter what kind of marketing you do, it stands to reason that if you target overlooked, under-the-radar keyword phrases, you’ll divert more traffic and convert more of that traffic into money.

So, how do you FIND these missed, under-the-radar keyword phrases?

I use Micro Niche Finder, and I LOVE it! It was one of the best tools I’ve purchased.

With Micro Niche Finder, you will be able to uncover untapped niche markets and completely rule them in Google. You can find new keywords related to your base keyword that are more profitable than the keywords you’re using now. You can rank higher in the search engines, bringing more traffic. You’ll be getting targeted traffic, which means you’ll be converting at a higher rate…which means more money!

More information

*I have an affiliate relationship with MNF. If you buy the product, I get a small referral fee, but it does not change the price you pay in any way.

Ideal employment? Work from home! Let’s face it, no travel with early morning jammed highways to commute on. Work on your schedule, and you work in comfortable clothing. Once I started working from home, I realized I never wanted to go back to an office environment.

I know, it sounds great, but first let’s be realistic. Are you a self starter? If you’re going to have a hard time with discipline, it may not be the best option for you. My husband has bee working at home for close to 6 months now, but when he first started, it was a large adjustment for him. He was at home, and it didn’t feel like work. Be aware, it will take you a little bit to find a pattern that works for you.

One of the things about self employment, work from home and you can set your own hours. I wake up at 8am. No 6am alarm clock going off for me! I can take a break when it’s convenient to run to the store. On the other hand, I can work from ten until midnight, and get the same work done that could be done during the day. Flexibility is what keeps me loving working from home.

Make no mistake about it, I work. Just because I’m home doesn’t mean I’m not working. In fact, I work longer hours at home then I would at a 9-5 job. I often times put in 10 and 12 hour days. In an office environment, I’d be working 8. The difference, I absolutely love what I do, and I love the ability to work from my home.

Where can you find ways to work from home? Not everyone can be self-employed, but you can still find places to work from home. When it comes from employment, work from home jobs are often listed as telecommute jobs. Here’s a list to get you started.

Don’t forge to sign up for your free Employment Strategy Guide! Look to the right for the big orange button that says: THIS IS NEW, and sign up today!