In a day and age when one’s small business is battling a shaky economy to say the least, it behooves business owners to make the right forecast for their company.

Making things a little easier in that department is having the right business forecasting plan in place. With budgets and forecasts, you can formulate a business model, review your critical assumptions, and tab resource and capital needs.

Budgets and forecasts can also be put in play to locate funding, along with being put to work as a management tool. The key for many small business owners, however, is finding the right business and forecasting model and software. Read the full entry

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Your co-worker is a little too loud on the phone, clears their throat what seems like hundreds of times a day or clips their nails. Boy, wish you had a little more space between you and your co-workers?

Your co-worker you need to do business with daily is on the other side of the room, never picks up their phone or doesn’t respond to instant messages and emails. So, wish you and your co-workers were not so spread out?

While many employees enjoy the telecommuting option, many more find themselves in confined or spread out work stations eight or more hours a day, having to deal with the above-mentioned issues. Read the full entry

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When times are tough, it is the little extra things that make a difference.

As a small business owner, are you doing anything extra to assist your customers who are feeling the pinch these days? If not, have you noticed a drop in business or even complaints from your customers?

Just as your business may be seeing some tough financial times, your customers are no different. They are looking for deals, loyalty programs, coupons and more to save some money here and there, so take the time to reward them. Not only will you likely keep their business, but they may refer some new clients to you. Read the full entry

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Much of the products that Americans purchase from their neighborhood grocery stores, Target or Wal-mart, thrift shops and other venues didn’t get there by accident; they got there via a truck.

It isn’t just stores that receive goods through trucks, as gas stations, construction sites, hospitals and more also oftentimes pick up supplies courtesy of the trucking industry.

In order to deliver those goods, trucking companies need to make a profit, something which can be harder to do in a bad economy.

If your trucking business has seen a spike in expenses in recent years due to higher gasoline and maintenance costs, reviewing your company’s insurance policies to operate your vehicles on the road can lead to savings.

As with any insurance coverage purchases, businesses are best-served when they do their share of research on both insurance policies and companies, especially given the fact that companies insuring drivers and different trucks are not all the same.

Among the differences are:

• A number of companies insuring the trucking industry work via independent agents, while others work in-house through sales personnel;
• Some companies focus on big fleets or owner-operators, while others work with smaller, independent businesses;
• Some companies selling insurance will offer quarterly or monthly payments, while others may require a one-time yearly fee;
• A number of companies only sell in certain states, so check to make sure coverage is provided in your locale.

Now that you know some of the differences, make sure you also understand some of the questions you should be able to answer when deciding on an insurer.

Among the questions to ask are:

• What is the cost for basic trucking insurance as opposed to the costs for riders? ;
• Is the company’s insurance good in all states? ;
• How long has the company been around and do they have a good track record? Have they had a number of claims filed against them? ;
• What is the company’s FSR (financial strength rating) and has the company had monetary issues in the past?

Along with the basic trucking insurance coverage you and your drivers will require, you also need to ask your agents about uninsured motorist (UIM) coverage, personal-injury protection and cargo coverage.

For those companies who continue to search for financial savings, there are ways to lessen your expenses over time.

Among the ways to reduce expenses are:

• Make sure your drivers maintain a clean driving record;
• Joining a trucking association where members have access to both group and association rates;
• Make sure your workers are aware of your safety policy, including what can happen if there are accidents or drug and substance abuse;
• Increase your deductibles in order to save some green on your premiums.

As an owner/operator of a trucking fleet large or small, it pays to do your homework and get the best deals on insurance, insuring yourself and your employees a more successful company.

Photo credit: bciincorporated.com

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Whether it is a long move or just a trip across town, businesses change locations all the time, something that is especially true in today’s economy with companies looking to save on rent.

If your business is looking to relocate or requires additional space at your present headquarters, there are plenty of options to choose from.

For those businesses relocating, take several factors into consideration: Read the full entry

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Whether you’ve run a company for years or are making your first foray into the business world, how you deal with a regularly tardy or absent employee will go a long way in determining your company’s success.

Inevitably, you or one of your managers will at some point deal with someone who makes it a habit of being late for work or calling in sick on a regular basis, creating time and attendance issues for your business.

While there are excusable absences, taking advantage of being more than a few minutes late once every now and then or using a sick day and heading to the beach do not fall under the excusable definition. Read the full entry

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As a business owner, are you dialed into a strategic plan that not only allows your company to build a strong customer base and make money, but also allows your employees to reach their individual goals?

The bottom line for any successful small business is to have a strong competitive strategy in place.

Given that you will more than likely need to make some alterations to this plan over time, look at areas such as business efficiency, money flow, employee retention and other areas that will impact your company’s profitability. Business owners need to be able to revise and rethink their strategic plans, including allowing for employee input in order to do what is best for everyone involved. Read the full entry

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For your small business to effectively run its financial ship, having the right banking system in place is critical. Whether you’re a new business or one looking into transitioning, there are different banking options available to make things run smoothly. Below are the 10 tips for setting up a successful banking system for your business.

1. When shopping online for either business checkbooks or check binders, be sure that the vendor you select is equal to or surpasses federal standards for the entire banking security process.

2. For those small businesses looking to include a logo design or custom graphics for their company, choose a company that specializes in those features in order to get the best quality available.

3. The success of any organization is keeping each and every dollar accounted for. In order to achieve that goal, business check registers help the financial heads in monitoring company expenses.With manual check registers, employees in charge of finance can enter all the information by hand, allowing business owners who opt for manual input to maintain all their financial records in one easy-to-find place. Read the full entry

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