Ask Our Business Experts Your Questions!
Are you looking for answers on how to make your small business more profitable? Or maybe you're searching for new ways to increase your revenue but need help figuring out where to start.
Whatever your questions may be, let our team of business experts answer them for you!
Ask An Expert Past Questions
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Do I need a business bank account if I'm just getting started and not generating much revenue?
Yes! Even if you are just getting started with your business, you'll want to set up a business bank account.
Here are a few reasons why:
- It's easier to keep track of your business finances, which makes tax filing easier.
- When you want to access growth capital, lenders will be looking for a business bank account in use
- You'll have more credibility with clients and suppliers.
- Enjoy peace of mind knowing your finances are in order.
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How can I make my small business more profitable?
There are a few different tactics you can take to increase your profits. First, you should always start by looking at your current expenses and seeing if there are any areas where you can reduce costs.
If your expenses are as tight as they can be, you'll want to look next at where you can increase revenue. Can you increase your monthly sales numbers? Are there new products or services you can upsell current clients to?
Remember, profit is revenue minus expenses. It's a simple equation that doesn't require you to create a new business model. Take some time to strategically consider ways to reduce your expenses and increase your revenue.