- Money Matters
- Motherhood Inc.
- Retail Details
I have a few goals for my business. I’d like to give my sole employee the raise he so deserves. I’d like to take a week completely off from work. I’d like to save up an emergency fund and feel somewhat safe in case I met with a catastrophe and lost all my income. Hell, I’d even like to think that one day, I might put down my cane, wiggles out of my orthopedic shoes, and retire.
A business owner should strive to cut costs and increase his or her profits in the process. Of course, while this is prudent, a serious entrepreneur must understand that it is not smart to cut costs in some areas as it will cause serious problems in the long run. With that being said, there are three things that a business owner should not cut costs on.
I am not a budgeter. I admit that I’ve made plenty of budgets in Excel or online budgeting tools, patted myself on the back for my self-awareness and good citizenship, and then proceeded to ignore them as I went on my merry way eating dinners out, racking up bar tabs, or heading out of town at a moment’s notice.
Passive income stream is a misnomer. While you can sit back with your feet up on the desk and watch the money roll in later, you must put in hard work up front to see the fruits of your labor. The benefits of that labor is diversification of your cash flow which comes in handy during lean months when you are a small business owner.
I like to think that one of the biggest concerns a WAHP has is the extended “quality time” breaks we encounter when our kids are out of school. I may think about it too much, mostly because each year that I think I have it down, my kids are each a year older and everything changes. I had the best of intentions to write about my “Internet Diet” of late, but, there is no amount of focus I can give that topic while hiding in a closet, actually writing this blog on (gasp!) paper.
A dedicated workspace is one of the most important aspects of working from home. A place, preferably with a desk, where the work-at-home-parent can settle in for a few hours of work each day (and many, many more each night) is the ideal arrangement for success.
That’s what the experts say, at least. Experts are never wrong, right?
I need to start this out by saying I am not a tax professional. I say that, not to indemnify myself from legal troubles (that’s something I heard I should do, though), but because I have to remind myself that I am not a tax professional. I just really get carried away with forms, and tax season brings out my seventh-grade math award-winning super geek self.
“Its tax season!” I shout. “Hooray for taxes!” I gloat. The challenge of itemizing deductions makes my mouth water. Learning just how much I’ve made, while working from home, gives me a little tingle. Nothing says success like showing a profit. That bottom line number screams validation. I AM JUST EXCITED.
Since it is time to celebrate all things pink and hearted, I thought it would be nice for us, the WAHM Force, to practice a little self-love. Not *that* kind of self-love (well, maybe), but the kind of self-love where we treat ourselves the way we want to be treated.
It seems almost every politician has said, at one time or another, that America was built on the backs of small business. Many of the founding fathers were small business owners and Forbes recently wrote a piece titled, “Small Businesses = Big Impact.”
But what kind of impact are we talking about?
Retailers today often overlook one of the best tools they have available to them when it comes to choosing new products and restocking old ones: data from their customer loyalty programs.
Most retailers these days offer customer loyalty programs. And while the key idea behind a loyalty program is right there in the name—to increase customer loyalty, better known as repeat purchases—there’s a lot of ambiguity as to whether these programs work as intended.
The school year is back in session and the fourth quarter is about to begin. For many retailers this is the most important time of the year. Some stores see almost half of their business in these last 3 months of the year—making it essential that everything goes right.
Most business owners today know that the web should play an important part of their business; they’ve read about how a website can be a crucial tool in finding new customers and converting leads into loyal buyers.