Business challenges and their solutions are as varied as the kinds of businesses in existence.
There are some issues, however, that every business faces. Whatever your business concerns, we can provide the help you need.
Whether you are starting a business or operating a going concern, we can help you select the proper organizational structure fits your needs. We will work with you and your banker, lawyer, insurance agent, and other advisors to solve your business challenges.
We can assist you with loan applications, pricing, credit policies, cash flow concerns, cost controls, and other management issues. We will gladly assist you in reviewing your operations to see what changes to implement to be more profitable.
What makes a business successful?
Never stop investigating ways to improve all areas of your business. The astute business person will seek information to assist in making the changes necessary to stay profitable in a competitive business world.
Here are some ideas that could improve your profit:
Do your homework.
Before you start a new business, be sure the community can support such a business. Perform demographic studies and comparisons to ensure that the area is large enough to sustain the type of business you are proposing. Research other like kind businesses in the area to understand the customer base and competition in the area.
Carefully review business proposals.
Business deals and special franchises which sound too good to be true usually are. We will gladly assist you in reviewing any business purchase or proposal.
Enlist the services of professionals.
Accountants, bankers, insurance agents and attorneys can help you solve your business challenges. These professionals handle a variety of business situations every day.
Verify the need to incorporate.
Don't incorporate your business without first checking the long-range tax and non-tax considerations. There are many small corporations that would have been better off operating in some other legal form.
Make payroll deposits on time.
Some businesses receive penalties for late payroll tax deposits. To avoid such problems, don't sign payroll checks unless the first check in the stack is the payroll deposit to your bank. This may have you paying deposits earlier than required, but you will not be receiving penalties.
Listen to your customers.
You are not only selling products or services, you are selling customer satisfaction. Satisfied customers return to spend more money and are likely to refer new customers to you.
Strive to retain customers.
It is estimated to cost ten times as much to acquire a new customer as it does to retain a current customer through good customer service.
Don't make yourself indispensable.
If your company runs well now in your absence, it will run well in the event of your disability or death. If you are currently indispensable, start training people now. One of the most rewarding forms of retirement is to own your own company and to be absent at your discretion.
Feel free to give us a call for a free initial consultation. If we don't have the solution to your challenge, we will be glad to assist you in locating someone who does.
Phone: (314) 775-4075
Fax: (573) 803-0901