Category: Running a Business

Should I Do Business as a Separate Business Entity?

Should I Do Business as a Separate Business Entity?

Key takeaways: Most small businesses in the US operate as sole proprietorships, which means there is no legally separate entity.  A business entity like a limited liability company (LLC) or corporation creates legal separation between the owner’s personal finances and the business. Creating a business entity is more expensive and takes more work than operating as a sole proprietorship but offers a number of advantages.  Learn how to evaluate the option that makes sense for your business.  When you’re starting… Read More
11 Ways Retailers Can Combat Coronavirus Fears

11 Ways Retailers Can Combat Coronavirus Fears

Rita Mitchell, Certified Counselor at the USM Small Business Development Center’s College of Business and Economic Development, compiled a great list of 11 ways retailers can combat coronavirus fears, the closures, and the financial decline those fears are causing. Here are her suggestions. Have VISIBLE and TOTAL hygiene discipline. Mitchell suggests placing anti-bacterial pumps throughout a store. Also, posting photos online and on your website of "deep cleaning" activities can show customers your commitment to keeping them healthy while shopping.… Read More
Business Loan Brokers vs. Direct Lenders: Who’s Better for You?

Business Loan Brokers vs. Direct Lenders: Who’s Better for You?

So you’ve realized you need a business loan. You’ve probably searched for options a few times already, and you’re now at the point where you know the basics of business financing, but you’ve still got important questions. Namely: should you work with a direct business lender or a business loan broker to get your funding? The answer isn’t always straightforward, especially since there are hundreds of companies offering funding for small business owners in the United States alone. The picture… Read More
Valuing a Brand: What’s Your Brand Worth? How to Value a Brand

Valuing a Brand: What’s Your Brand Worth? How to Value a Brand

It’s easy to figure out the value of a product or service to a business. Just tally up the revenue generated by any particular product or service, and compare that to the business’ overall revenue. It’s often easier to do this with smaller or more specialized companies, but it’s possible at any scale. Just look at Apple. It’s the most profitable public company in the world, but its entire income statement can be boiled down to just five lines of business:… Read More
Types of Business Loans: Compare Business Funding

Types of Business Loans: Compare Business Funding

Looking for funding to grow your business? You’re not alone. Problems with cash flow is one of the most common causes for small business failure. That’s why many small business owners pursue one or multiple sources of financing to start, expand, or sustain their companies. It helps to be informed, regardless of where you choose to get your funding. Different types of business loans or funding will come with varying requirements, from business revenues to personal credit scores, repayment terms… Read More
How to Scale Your SaaS Company in 2023

How to Scale Your SaaS Company in 2023

With so many software startups in the current landscape, it seems like only a special few find the right formula for scaling their early-stage successes. But there are ways to replicate the early wins and repeat them on a large, long-term scale. You’ll need a comprehensive plan for achieving sustainable growth if you want customers to stay engaged in your brand and continue buying your software service. In this post, we’ll go over seven ideas that will help you grow… Read More