5 Simple Small Business Tips

With everything going on around us, many small businesses are either struggling to survive or closing their doors for good. Instead of reacting to tough times, entrepreneurs have to be proactive, educate themselves, and actually make some money even as the economy is slipping. Marley Majcher, CEO of The Party Goddess! Inc., has been a successful entrepreneur and public speaker for over seventeen years. During the course of her career, she developed her dynamic …But Are You Making Any Money?  job-costing system that helped her grow her event planning business from start up to million dollar powerhouse. Starting or running a business today requires additional business savvy, marketing skills and new ideas, so let Marley show you how!

Simple Business Tips Include:

*Job Cost Down to the Last Latte! To really see where you’re losing money, you must track and categorize every expense for your small business into A's (cost of goods sold), B's (time) and C's (lattes and parking tickets).

*Time Is Money! Tracking your time has numerous benefits such as helping you identify which aspect of your business is sucking up all of your energy and not giving a very good return on investment!

*Ditch the Corner Office! Its time to get lean, mean, and serious about cutting expenses. If office rent is killing your bottom line, then ditch it!  That’s what they invented Starbucks!

*Join the Online Social– Online social networking allows you to market your business and build advantageous connections at practically zero cost. Hop on Twitter and “tweet” all the way to the bank!

* Go Shopping…for Vendors that Is!  Is your local printer really cutting you the best deal in town? Finding the right vendors can save you a ton of money in the long run.

Random Small Business Facts & Figures:

*Small businesses represent 99.7 percent of all employer firms. (U.S. Small Business Administration)

*Small businesses are typically the most agile in tough times and the last to shed employees. (CNN)

* The Great Depression of the 1930’s spurred an increase in creativity and entrepreneurship, and a recent national study by The Creative Group suggests that “When the going gets tough, the tough get more creative “.

* 6 of the 30 companies that make up the Dow industrial average were started during a recession or depression. These include Procter & Gamble, Disney, Alcoa, McDonald's, General Electric and Johnson & Johnson. (USA Today)

* Companies that started during the recession of the 1970’s include: Supercuts, Chilis, Cablevision, Industrial Light & Magic, Famous Amos cookies, Oakley, and Microsoft. (USA Today)

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