Category: Running a Business

Small Business Owners Guide to IRS Business Codes and NAICS Codes for Financing Success in 2024

Small Business Owners Guide to IRS Business Codes and NAICS Codes for Financing Success in 2024

Starting a small business exposes you to a whole new lexicon of acronyms from ROI (return on investment) to POS (point of sale systems). One that will no doubt be confusing the first time you come across is “NAICS codes”.   Ignore it at your own expense, because the wrong NAICS code may make it harder for your business to get funding. Here’s why.  What are NAICS Codes? NAICS codes refer to North American Industry Classification System codes. These codes are… Read More
Calculating Annual Business Revenue 101: Why Is It Important?

Calculating Annual Business Revenue 101: Why Is It Important?

“How much money do you make?” That would be a rude question if asked by a stranger, or even a friend. But if you are a business owner seeking financing or money from investors, you’ll encounter that question all the time, and you better be prepared to answer it.  Understanding the meaning of annual revenue, how to calculate annual revenue, and then to be able to confidently share that number when required, can be key when growing a financially healthy… Read More
What the Visa Mastercard Settlement Means for Your Small Business 

What the Visa Mastercard Settlement Means for Your Small Business 

Visa and Mastercard have reached an agreement with merchants in a twenty-year-old lawsuit that, if approved, could reduce the amount of money businesses that accept credit cards pay in interchange fees, also known as “swipe fees.” It is expected to save businesses that accept credit cards at least $29.79 billion over the next five years. Here are answers to common questions small business owners may have about the settlement. What Is This $30 Billion Interchange Settlement About? In 2005, merchants… Read More
Boost Your Restaurant Business with Google Reviews: A Complete Guide

Boost Your Restaurant Business with Google Reviews: A Complete Guide

Getting customers in the door is one of the biggest challenges for any business, including restaurant owners. You can serve the most delicious food and offer the best service, but if prospective customers don’t find your restaurant in the first place — or if negative online reviews scare them away — you won’t get the chance to wow them.  Google restaurant reviews can be a key part of your marketing strategy. Here’s what you need to know.  Intro: Online Reviews… Read More
Understanding ROI in Digital Marketing

Understanding ROI in Digital Marketing

When you spend money in your business, your ultimate goal is to use it to make more money. Return on investment, or ROI, measures the return on investment of your small business activities, and those may include digital marketing. If you’re going to invest in digital advertising, you want to pay close attention to whether your ad spend is creating a positive return.  Here we’ll explain how to understand and measure digital marketing ROI, along with strategies for maximizing your… Read More
Overwhelmed by Business Finances? 7 Surefire Ways to Manage Your Business Finances Better

Overwhelmed by Business Finances? 7 Surefire Ways to Manage Your Business Finances Better

Sales and marketing, marketing, market research, product development, and customer service. These are just some of the areas that entrepreneurs have to manage in their small business. It’s no wonder they often feel overwhelmed.  And then there’s the most critical task for small business owners: managing small business finances. Ultimately, a business owner must manage cash flow well, and make a profit to be successful. But unless they have a background in accounting or finance, managing money in the business… Read More