Economic indicators are improving, and with them, small business optimism.
Economic indicators are improving, and with them, small business optimism. If you are an entrepreneur, you’re ready for some rosy economic news, but you’re also likely to try to take matters into your own hands … which is a good thing. Raj Seshadra, head of small business banking at Citibank, was quoted in a recent issue of The Paper with five excellent steps small business owners can take now to help hasten their own economic recovery.
- Keep track of all funds that come into or go out of your business on a daily, weekly, and monthly basis. Tracking expenses is vital to good cash flow management.
- Make the most of marketing. When the economy suffers, it’s more important than ever to continue marketing efforts. Explore ways that social media marketing could boost your bottom line.
- Find a great advisor. It’s important to find an experienced, qualified advisor you can trust.
- Find a great bank that will work with you.
- Stand out with terrific customer service. Caring about customers and treating them with respect can help ensure they keep coming back to your business.