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Small business owners understand the constant flow of cash through a business. The process of receiving an order to being paid for the order dictates several aspects of the small business’s practices including reinvestment in the business. Getting the timeframe shortened means cash is in hand quicker. Every small business owner would rather have the cash than wait for it, and these tips are designed to shorten the process.

Setting goals is something every small business owner does. The goals can be simple or they can be overarching. Whether it’s a daily goal or an end-of-year goal, small business owners must get in the habit of using SMART goals. SMART is an acronym standing for Specific, Measurable, Achievable, Relevant, and Time-Bound. It may seem a bit much for setting goals, but if a goal is SMART, then it’s a goal having lasting impact on a business.

Finding talent is never easy, but when the labor market is competitive it’s very difficult for employers to find the right fit. Competitive labor markets are wonderful for people seeking a job. They can negotiate compensation from a power position. The first thing every entrepreneur should understand is just because a prospective employee can negotiate doesn’t mean it’s a zero-sum game. If moving from initial compensation figures lands a great employee, then the business benefits – people are investments just like processes.

There are plenty of reasons employees choose to work for companies. For small businesses, it’s difficult to compete in raw compensation with the bigger companies, and that’s why perks can put an entrepreneur ahead of a CEO in the race for talent. Understanding the perks employees are after ensures getting the right people for the job.

Every small business owner loves the idea of having an assistant, but this positions costs money and directs resources from the customers. Virtual assistants are a great way to get the benefits of an assistant without having to lay out extensive costs. The best part is virtual assistants provide the same level of service an in-house assistant would.

A difficult part of product-based businesses is having the actual products available for customers to purchase. For storefronts, this requires an inventory and generally that inventory must be stored somewhere. Therefore, small businesses must purchase or rent larger retail spaces to store the products and purchase products ahead of time to stock an inventory. Needless to say, if customers are not breaking down the doors, then this inventory becomes an albatross. Fortunately, dropshipping is a simple alternative allowing small businesses to avoid costly inventory purchases.

Many entrepreneurs balk at the idea of utilizing technology in their small business by citing the cost of acquiring technology. However, when looking at the return on investment in technology, the efficiency benefits are self-evident to entrepreneurs. The goal for every business is spending the minimal amount of money to generate maximum profit. Technology allows for investments to be made that, while possibly costly on the front end pay for themselves on the back end.

Copywriting is a service many entrepreneurs think they can do themselves. The reality is unless these entrepreneurs are copywriters themselves, doing the copywriting is destined to leave money on the table instead of in the business’s bank account. The reason for outsourcing copywriting is very simple – copywriters understand the art of selling through rhetorical appeal along with understanding exactly what excites a target market.

Digital marketing changed how companies interact with their customers. No longer are mailers and sales letters the standard; small businesses along with large companies engage with customers in a virtual space. Digital marketing opens up opportunities to truly target a specific set of customers. There are several small business owners believing they can run effective digital marketing campaigns. The reality is much trial and error is needed for digital marketing non-experts to figure out the working formula. The small businesses looking to control costs and get a high return on investment are outsourcing digital marketing.