Getting Noticed in a Niche
Submitted by Steve Bentley BA CFP on
Most Canadians either own or work for a small business. There are quite a few common mistakes that new small businesses make. Most mistakes have been talked about it excessively but there is one tip I feel most miss. Many small businesses start out trying to be the best at everything - that is, be the best clothing store online, or the world’s greatest home decor shop. And the truth is that it’s almost impossible to do this. Not that I’m trying to dash your hopes, only being realistic.
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Budget. Budget. Budget. That evil “B” word. Most people dread it. Many don’t understand it. So, I decided to not use the word in our practice. It is not entirely representational any way. There is much more to the concept of cash then just budgeting. We prefer to use the term “cash flow.” It’s about our business cash inflows and outflows.