A significant number of small businesses close within a couple of years. Yet, while that can sound ominous to new small business owners, if you’re aware of why they close, you can decrease your chances of following the same fate.
A staggering 82% of small businesses close due to a single reason: poor cash flow. If you make this aspect of your operations more robust, then you’ll be greatly increasing your chances of making it through the first few difficult years.
Easier said than done? Yep. But there are things you can do to improve your cash flow, as we’ll see below.
It’s one thing to have to close your business because of money problems. It’s even more frustrating when you have to close even though you had money that would eventually come in. Offering a discount for clients who make prompt payments is a great way to give your cash flow a boost. Your clients will save money, and you’ll get the money owed in the bank — it’s a situation that benefits everyone. The discount doesn’t have to be massive; even 3 – 5% can be effective.
Avoid Big-Ticket Purchases Where Possible
All businesses need equipment in order to work efficiently. In some industries, that equipment can be extremely expensive, which can have a knock-on effect on the businesses’ cash flow. It’s not hard to see how investing in a piece of heavy machinery would make a small business more financially vulnerable.
Before buying equipment, it’s worth checking whether you really need to make the purchase in the first place. There will likely be an option to lease/rent the equipment, which will give you access to the tools you need in a much more budget-friendly way.
Get Professional Help
Businesses often run into cash flow difficulties for a very simple reason: they’re managing the financial aspect of their operations in-house. In many cases, it’s the business owner who’s in charge of managing the finances. That can be fine if they have experience and expertise in this area, but if they don’t, then things can quickly become complicated. Handing the responsibility over to an experienced accountant will ensure that your business has effective cash management procedures in place, which can go a long way toward keeping your cash flow in tip-top condition. Plus, this will also free up your time, ensuring you can spend more time on value-adding tasks that push your business forward.
Analyze Your Clients
You’d like to think that all of your clients will be fair and honest in their dealings with you. However, that’s not always the case. Some will be slow in paying, or, in some cases, avoid paying altogether. It’s just a reality of the business world. One way to avoid this problem is to perform a credit check on your clients, especially ones who are making a big order and who aren’t paying upfront. It can take a bit of work, but it might just save you a lot of problems further down the line.
Creating a brand that not only stands out from the crowd, but also compels your audience to make a purchase, and keep coming back time and time again, is not exactly the easiest thing in the world. Many bright entrepreneurs before you have tried and failed, and their companies have sunk without a trace as a result. Don’t want to be like them? Here’s what you need to do to craft a brand that sells:
1. Know Thyself (and Thy Audience)
Before you even think about designing a logo or choosing a color palette for your website, you’ve got to get crystal clear on who you are and who you’re selling to. This is the foundation of your brand—everything else builds from here and you must get it right, right from the off. Ask yourself:
What are my brand values?
What problem does my product or service solve?
Who is my ideal customer?
Once you’ve nailed down these answers, it’s time to get inside the heads of your target audience. What are their pain points? What do they want out of life (or at least out of your product)? What makes them laugh, cry, or roll their eyes?
The better you understand your audience, the easier it will be to craft messaging and visuals that speak directly to them. After all, people don’t buy from brands—they buy from brands that make them feel understood. When your audience feels like you “get” them, they’re more likely to buy what you’re selling.
2. Craft a Killer Brand Persona
Your brand persona is the personality your business adopts when communicating with your audience. It’s like the difference between having a conversation with a formal, buttoned-up professor or a fun, laid-back friend—your tone matters. And guess what? So does consistency. You want your audience to know exactly what kind of “person” they’re interacting with, no matter where they encounter your brand.
When crafting your brand persona, think about what kind of personality will resonate with your target audience. Are you quirky and fun like Taco Bell on Twitter, or are you more serious and professional like IBM? And don’t be afraid to inject some humor into your brand persona—people love to laugh, and it’s a surefire way to make your brand more memorable. Just make sure your tone matches your brand values and the expectations of your audience.
3. Get Visual (Because First Impressions Matter)
They say don’t judge a book by its cover, but let’s be real: we all do. In the world of branding, first impressions are everything, and your visuals play a huge role in shaping how people perceive your brand. This includes your logo, color scheme, fonts, imagery, and overall design aesthetic.
Here’s the kicker: your brand’s visual identity should not only be visually appealing but also aligned with your brand persona and values. For example, if your brand is all about eco-friendly products, your visuals should feel natural and earthy—think greens, browns, and organic shapes. On the other hand, if you’re selling cutting-edge tech, you’ll want a more sleek, modern look with clean lines and bold colors.
And remember, consistency is key. Your brand visuals should be consistent across all platforms—your website, social media, packaging, and even email newsletters. This helps build recognition and trust with your audience.
4. Expandable Websites Are a Must
In the digital age, your website is your brand’s home base. It’s where potential customers go to learn more about you, browse your products, and (fingers crossed) make a purchase. But here’s the thing: your website isn’t just a static page—it needs to grow and evolve with your business.
That’s where expandable websites come in. An expandable website is designed with scalability in mind, meaning it can easily grow and adapt as your business expands. Whether you’re adding new product lines, launching a blog, or rolling out an e-commerce platform, an expandable website ensures you won’t have to start from scratch every time your business changes.
Think of it like building a house with extra rooms you can add on later. If you plan for growth from the beginning, you’ll save yourself a lot of time, money, and headaches down the line.
If you want to build a brand that sells, you need to make people care about your brand—and one of the best ways to do that is through storytelling. Humans are wired for stories. We remember them, we relate to them, and, most importantly, we connect with them.
Your brand story isn’t just a timeline of how your company started. It’s about why your brand exists and how it can improve the lives of your customers. Maybe your story is about solving a problem you faced and how you created a product to help others in the same boat. Or maybe it’s about your passion for making a difference in the world, whether it’s through sustainable products or ethical sourcing.
Whatever your story is, tell it in a way that’s authentic, engaging, and resonates with your audience. And don’t be afraid to show some personality—your story should reflect your brand persona. Keep it real, and your audience will stick around.
6. Don’t Sell—Solve
Here’s a tip that might blow your mind: people don’t like being sold to. Crazy, right? If your brand’s messaging is all about pushing your products and shouting “Buy Now!” at every turn, you’re going to turn people off faster than a soggy biscuit at a tea party.
Instead of focusing on selling, focus on solving. How does your product or service make your customers’ lives easier, better, or more fun? Whether you’re helping them save time, reduce stress, or just look fabulous, make it clear how your brand is solving their problems.
When you shift your messaging from “Here’s what we sell” to “Here’s how we can help you,” you’ll build trust with your audience—and trust is what turns curious browsers into loyal buyers.
7. Be Consistent (But Not Boring)
Brand consistency is crucial for building recognition and trust, but consistency doesn’t mean being predictable or boring. You can (and should) keep things fresh and exciting while maintaining your core brand elements.
Think about brands like Apple or Nike. Their visuals, messaging, and tone are instantly recognizable, but they’re never boring. They find new ways to engage their audience while staying true to their brand values.
The trick is to keep your brand’s voice, visuals, and values consistent across all platforms while giving yourself room to experiment with creative content and campaigns. This keeps your brand interesting without confusing your audience.
8. Leverage Social Proof
People trust other people more than they trust brands—it’s just a fact of life. That’s why social proof is one of the most powerful tools in your branding arsenal. Social proof is essentially evidence that other people (like your customers) love and trust your brand.
This can take many forms: customer reviews, testimonials, case studies, influencer endorsements, and even user-generated content. The goal is to show potential customers that real people have had a great experience with your brand—and if they loved it, they will too.
Make sure to prominently feature reviews and testimonials on your website, share user-generated content on social media, and highlight any partnerships with well-known influencers or publications. The more social proof you can show, the more trust you’ll build with your audience.
9. Create a Community, Not Just Customers
If you really want to future-proof your brand and create loyal customers, you need to build a community around your brand. People want to feel like they’re part of something bigger, and if you can create a sense of belonging, you’ll turn casual customers into brand evangelists.
This doesn’t happen overnight, but you can start by engaging with your audience on social media, creating a blog with valuable content, or even launching a private Facebook group where customers can connect with each other (and you).
When customers feel like they’re part of your brand’s community, they’re more likely to stick around and spread the word to others. Plus, they’ll give you valuable feedback on how to improve your products and services—win-win!
10. Stay Flexible and Adapt
Here’s the harsh truth: what works today might not work tomorrow. Consumer preferences change, technology evolves, and new competitors pop up. The key to building a brand that sells long-term is staying flexible and being willing to adapt when necessary.
This doesn’t mean you need to completely reinvent your brand every few years, but it does mean staying on top of trends, listening to customer feedback, and being open to change. Brands that can evolve with the times are the ones that survive and thrive.
If you are authentic, you know your audience and you use all of the technology and skills at your disposal, then crafting a brand that sells is well within your reach, It really isn’t magic, but solid hard work and carefully mined insights that will get you where you want to be!
Of all the different investment choices out there, many people consider real estate investment the most appealing option, and it’s easy to see why. Investing in something as tangible as bricks-and-mortar is certainly satisfying and offers so many possibilities. We’ve all seen those TV shows where people complete incredible transformations on homes and before selling them at a huge profit. Owning a lot of properties is seen as a sign of wealth. However, making money from real estate isn’t as simple as just buying a house or two. As property is a fluid investment, you need to feel confident in what you’re doing and how you’re going to make your real estate investments a success. With this in mind, here are some things to consider to help you get started in real estate investing:
Consider Your Budget
When venturing into the world of real estate investments, you may be tempted to pile all your cash into one property and hope for a healthy return on your investment. But overstretching yourself can be incredibly risky. You could be left with a loss on your investment, and even jeopardize your personal financial security.
There are many options or you to consider, that could help you spend less on your first investment. One example is buying REITs (real estate investment trusts). Buying REITs means you won’t physically own real estate, but you will still be investing in it.
Whichever option you choose, it’s essential to consider your budget carefully to assess the risk versus the potential return before you part with your cash.
Decide on Your Investment Strategy
Deciding on your investment strategy is crucial for real estate investment success. So, it’s worth considering whether you want to make money fast by flipping houses, or prefer a longer term strategy, such as buying homes and renting them out. There’s no right or wrong answer to this, you simply need to decide which of the strategies works best for your financial goals.
Choose How You Will Manage Your Properties
Once you start investing, you will probably discover pretty quickly that being a landlord is a time-consuming role. It can feel like you’re constantly on-call and juggling a wide range of tasks to manage your properties. So, as your real estate empire grows, it’s wise to look into some time-saving methods to improve the efficiency of your real estate development business. Choosing lease management software can be a big help with this. Having all your leases together on one system, and organizing all your tasks in one place can really boost your efficiency and save you a lot of time in the process.
Jobs such as end of tenancy cleans and redecorating can also be really time-consuming. Combine this with ad-hoc property emergencies, such as burst pipes, and you may find yourself overwhelmed with jobs. To overcome this, it’s helpful to bring in some professional help. Hiring a cleaning company and property maintenance contractors to take care of these practical tasks can be really beneficial.
As your business grows and develops, you may no longer be able to manage your inventory, shipping, and logistics alone. That’s where you may need to partner with a Third-Party Logistics (3PL) provider. However, outsourcing something so important as the last mile delivery to an external company comes with risks.
In this guide, we’ll look at a few strategies to ensure that your partnership works in your favor – from ensuring you're choosing the right outsourcing partner to maintaining high standards of communication. Let’s dive in.
Partner With A Logistics Company That Aligns With Your Values And Goals
The first aspect to focus on is the importance of choosing the right partner. You’ll need to find a company that can showcase its expertise and reputation, but you’ll also want a partner who meets your budget needs and future goals.
For example, if you are looking to expand internationally, you’ll need a provider that can comfortably handle large inventories and worldwide delivery. Also, be sure to review the set of values of the company you are going to partner with to ensure you both value customer service, product quality, sustainability, and business longevity.
Review Their Customer Service Standards
Next up, be sure to review the customer service standards of the company you are looking to entrust with the last-mile delivery of your products. Premium 3pl customer service is important because the delivery specialists and technicians who will deliver your products will be the ones in touch with the customer personally. A customer will associate them with your product or company, which can make or break your reputation.
Ask Your Customers For Direct Feedback
If you are struggling to gain an idea of the quality of a certain company or their services, ask your clients directly. You may follow up after a sale to verify that the delivery happened in a timely, quality manner. This can help you supervise the last-mile delivery aspect, which may not have direct control over.
Pro tip: Asking your customers for feedback after the delivery occurred can help you gain insights and prevent them from writing public reviews that may mistakenly associate the poor service quality of a delivery company to your brand name.
Ensure Clear Communication With The 3PL Provider
Outsourcing aspects like delivery, shipping, and logistics management is essential for any growing business. However, outsourcing such important aspects of your business can also have some challenges, such as decreased service quality and security concerns. To address these risks and prevent damage to your company, be sure to keep the lines of communication open with your 3PL provider. This can help you build a relationship of trust and respect, which is necessary to continue growing your brand.
Invest In The Right Tech Tools
Last but not least, be sure to take advantage of the right tech tools to boost your logistics strategy. These include inventory management software, route tracking tools, and real-time tracing. These tools are just some of the ones that can help you build trust in your chosen 3PL provider and ensure a high-quality last-mile delivery service.
In today’s rapidly evolving work environment, staying relevant and competitive requires continuous learning and adaptation. One way to ensure career longevity and growth is by actively pursuing upskilling opportunities. Whether you are just starting your career or are an experienced professional, developing new skills can unlock fresh opportunities, increase your value to employers, and enhance your personal growth. Here’s why upskilling is essential for career success.
1. Stay Competitive in a Changing Job Market
The job market is more dynamic than ever. With advances in technology and shifts in industry practices, many jobs today require a different set of skills than they did just a few years ago. If you don’t keep up with these changes, you risk falling behind, while colleagues and competitors with the latest skills move ahead.
Upskilling allows you to adapt to the ever-changing demands of your industry. For example, learning to work with emerging technologies or mastering new software programs can make you more efficient and valuable to your employer. For those in specialized fields, such as IT, marketing, or healthcare, staying on top of the latest trends is critical for maintaining a competitive edge. Even in traditional fields like logistics, upskilling by taking lessons from a commercial diving school can open doors to new roles or industries.
By continually expanding your skill set, you not only improve your job performance but also demonstrate to employers that you are proactive and adaptable—qualities that are highly sought after in today’s workplace.
2. Boost Career Advancement Opportunities
Upskilling can also play a major role in advancing your career. Employers often promote individuals who show initiative and a willingness to learn. By acquiring new skills, you position yourself as someone capable of taking on more responsibility, which can lead to promotions or salary increases.
In addition to helping you climb the career ladder, upskilling can also provide you with the flexibility to change roles or even switch careers. If you’re interested in pursuing a different field or industry, upskilling allows you to build the competencies required to make that transition smoothly. This flexibility can be especially important during economic downturns or times of industry disruption when certain skills become more valuable.
Furthermore, upskilling helps you stay engaged and motivated in your current role. Learning new things can reignite your passion for your work, making you more enthusiastic and productive.
3. Adapt to Technological Advancements
One of the biggest reasons upskilling is essential today is the rise of automation and artificial intelligence. As more tasks become automated, certain roles are becoming obsolete, while new ones are emerging. Upskilling helps you stay ahead of these technological changes, ensuring you remain relevant in your field.
For instance, industries such as finance, healthcare, and manufacturing are increasingly relying on data analysis and AI tools. Learning how to use these technologies can future-proof your career. Moreover, by acquiring technical skills, you can work more effectively alongside new technologies, improving both your individual performance and your team’s productivity.
In a fast-paced world where skills are constantly evolving, upskilling is no longer a luxury—it’s a necessity. Staying competitive in the job market, opening doors to career advancement, and adapting to technological changes are just a few reasons why investing in continuous learning is crucial for your career growth. By taking steps to enhance your skill set, you not only ensure job security but also position yourself for long-term success in any field.
