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To help you develop a smart business budget, I have included a few key areas that could help you:

• Determine what office equipment you need and then research to see who has what you need at a reasonable price. Don’t by cheap because you want your office equipment to last.
• Research fees for web hosting and web development before spending your money. Many business owners have unfortunately been scammed out of money by those who have charged them way too much for these service.
• When purchasing your website domain name, register it for as many year that you can. Some domain registrar actually give you a discount when you purchase multiple years.
• Checkout your local banks and see who has the best business banking options. Once you have find a good one, setup at least two accounts. One for paying bills and associating with online payment processors and the other one for accumulating money (see if you can have this be an interest bearing account).
• Use budgeting or accounting software to help you manage your business financing. Recommendations: Quikbooks or MS Office Accounting.
• Incorporate your business so that you can take advantage of the many tax breaks available to business owners.

These are just a few things that you can do to develop your smart business budget. By developing a smart business budget, you may be on your way to increase the money flow into your business.

Post from: EveryJoe

Managing Your Business On A Smart Budget

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Now that you have met all three, let me share with you the importance of having all three doing their part. Let’s start with Strategy. According to Webster.com, the definition of the word “strategy” is “a careful plan or method”. This can be applied to the partnership as the key components that helps give your business direction and processes. Just as in chess when you have to always have a strategy in mind to win, the same is true for managing a business.

The next member of the partnership we will look at is your Business which is a necessity since it would be the cornerstone for the whole partnership. The last member is not the least at all but is the glue that keeps everything together and flowing smoothly which is You. Your purpose in this partnership is to provide the brains, the brawn, and the backing to make sure that all members of the partnership fit together perfectly.

To help you understand the importance of Strategy, I have included an interview video that was developed by Harvard Business School to help you understand the “The Five Competitive Forces That Shape Strategy” which is the brainchild of Michael E. Porter, Professor, Harvard University.

Post from: EveryJoe

Strategy, Your Business, and You