Micro and small businesses The life of a small and micro-entrepreneur can be quite difficult, after all, it is necessary to create a marketing plan , have good customer service, take care of customer loyalty and, of course, the financial part.
With so much to be resolved and almost always
with just one person in charge of everything, not every business can move forward and prosper. According to a report by Sebrae , one in four job seekers database companies closes in less than two years and 50% of them close within 4 years. A worrying number, right?
And one of the reasons is the lack of care with the lesson we learned: corona emphasizes the importance of content marketing finances in micro and small businesses. Many business owners mix up their accounts or don’t even have separate accounts (personal and business) — in practice, this means you have very little control over everything, and you can ask for loans and get into even more trouble.
With this in mind pay attention to the precautions
you need to take when it comes to the finances it email list of micro and small businesses. These are simple items, but they will make all the difference when it comes to the end-of-month balance sheet!
Have a personal account and one for your company
You know that situation where you pay for your child’s school and dentist appointments with the company’s money? And then you take part of your personal income to pay suppliers? Well, you can forget about it.
To be successful in your business, you need to know exactly what you are earning and what you are spending — on the company. That is why a business account is so important. After all, the profit you make is not for personal consumption, but rather to invest in improving and perfecting your company.
Salary is one thing, profit is another
Let’s say you followed my previous tip for micro and small business finances and are making a good profit every month. Was your first thought to spend it on your family? I’ll tell you right away that you’re wrong.
The company’s profit is used to renew stock, invest in marketing, pay the thirteenth salary (if it has employees), carry out renovations (if it has a physical building), acquire more modern equipment and maintain working capital.
Therefore the best of all worlds is to set a monthly
salary for yourself and continue to save the remaining income, always focusing on the business. This salary should be equivalent to the market salary, and in the first few months it can even be a little lower, so that you have working capital.
Control everything that leaves and enters the company
To continue taking care of the finances of micro and small businesses, a key point is to pay attention to your cash flow. Therefore, each of your sales must be listed, either in a spreadsheet or in a management system.
In addition, all expenses must be noted, such as:
rent;
energy;
employees (including their salary);
materials;
suppliers;
software (if you use it);
telephone and internet among others
The math here is very simple to do: the sum of everything that comes in when subtracted from everything that goes out must be positive. Sometimes, it can also be a matter of pricing products better. If the math is not positive, you will need to read our next item very carefully. Let’s get to it!
Rethink cats
Rethinking what you are spending on is a good
idea and one of the secrets to improving your revenue. For example, telephone and internet: today, we have countless providers offering the same services.