Manage your small business: Tips and advice for common challenges

It is no easy feat to manage a successful small business. The first two years of a business can often be the ‘make or break’ period. As you transition from launching your business to managing your business you may encounter any number of day-to-day operational challenges.  With that in mind, we have assembled videos, guides, and expert advice to help you start, manage, and move your business forward. In this article, you will find resources to help you with:

• Starting a business 101
• Getting customers
• Managing cash flow
• Reducing admin
• Building a team of advisors
• Hiring employees
• Managing uncertainty

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Starting a business 101

You have an idea for a business. It’s always been your dream. You may have even told yourself “This is the year!” Here are some articles to help you take the leap. How to start a business in a weekend with just an idea and a smartphone  The secret weapon to surviving your first 90 days in business  Making the leap from employee to entrepreneur  Related templates and guides

• The small business survival toolkit
• Business plan template
• Guide to creating a business budget

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Getting customers

Customers are the lifeblood of any business. Whether you are looking to land your very first customer or support your existing customers, these articles can help. 10 steps to grow your customer base Why referrals are vital to your business growth Top three pricing mistakes to avoid Related templates and guides 

• The small business survival Guide
• Cash flow forecast template
• Invoice templates

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Managing cash flow

Staying on top of your cash flow is crucial for your business to succeed.  Thankfully, the principles of cash flow management are pretty straightforward.  Here are some resources to help you manage your small business cash flow challenges. 5 ways to manage your cash flow VIDEO: Understanding small business cash flow 101 Measuring small business growth Don’t mix personal and business finances  Related templates and guides

• Guide to controlling cash and strengthening your business
• Cash Flow forecast template
• A guide to understanding small business financial management

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Reducing admin

Running a business can be challenging.  All too often, too much time is taken up by business admin. Freeing up just a little of that time could be a game changer.  Here are some articles to get you started: 15 of the best admin hacks for small businesses  The cure to your admin headaches How HR self-service tools can save time for small businesses Related guides

• Business tax calendar
• mall business guide to reduce admin

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Building a team of advisors

When starting a business, you can either do it the “hard way” – relying solely on your own experience and expertise – or you can take the less painful route and get valuable insights from a mentor.  Here is some advice to help find and build your team of advisors. How to make mentorship a part of your business strategy Mixing family with business? Here’s how to make it work Translating accounting lingo for small business owners Related guides

• How to choose an accountant
• The small business survival Guide

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Hiring employees

Hiring a new employee is always a big step and can give your business a competitive edge.  Here are some resources to help you build and grow your team. Building your team: How to master the art of hiring top talent Key components of a successful employee onboarding experience The secret to managing remote employees  Related guides

• A-Z guide to understanding payroll
• A small business guide to HR
• The secrets of better performance management

 

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Managing uncertainty

Business contingency planning is useful for any unexpected situation, whether it be a global pandemic, inclement weather, or a mass transit strike.  Here are some resources to help you develop a contingency plan for your business. Safeguard your business during unprecedented times  How business intelligence tools can transform a small business  Related guides

• A guide to managing uncertainty
• A guide to interactive dashboards for small business
• The small business survival toolkit