The Do’s and Don’ts of Hiring Your First Employee

As your business grows, it will become necessary to hire your first employee. There are many important things to consider before doing so, including what your company culture is like and how much work you’ll have to outsource to that new person. We’ve put together this guide on the dos and don’ts of hiring your first employee to help you make the best decision for your business.

DO: Identify what you need

#1 Determine what type of employee you need, where they will fit in with your company, and if they can even do the job. Consider whether you need an accountant, a developer, a customer service rep, or any other position. #2 Recruit wisely by looking for candidates who are like-minded individuals with the same values as your company. #3 Create the perfect job description by listing all duties, requirements, qualifications, and skill sets that make up the role.

DO: Research Candidates and Job Postings

DO research the best candidate. It’s essential to look at more than just the resume to get a good picture of who your new hire is going to be. Their online footprint will give you insight into their personality, values, communication style, and culture fit in ways that may not come across in an interview.

DO: Hold Interviews

Do your research. Find a job description that you believe to be in line with the skills and experience you are looking for. It will take time, but setting up interviews with these qualified candidates will be well worth it in the end. Plan to interview at least three candidates per position that has been open or is expected to come open soon. Give all applicants equal opportunity to explain their qualifications for the position and give yourself equal opportunity to figure out who might be the best fit for your company.

DO: Receive References

The best way to get a true representation of someone is through their references. The idea is to find out more than what the resume says. When asking for references, make sure you set up a phone interview with the person they would be working with, if that position is open. This will give you insight into the skills needed for the position, as well as determine whether or not they are a good fit in general.

DON’T: Underestimate Training Needs

Underestimating the training needs for a new hire is one of the most common mistakes, according to many small business owners. When new hires are equipped with the right skills and knowledge, they’re much more efficient – which means an earlier return on investment. 

DON’T: Decide Alone

It is easy to feel like hiring someone without consulting anyone else. After all, this person is coming to work for you because they want to do what you want them to do. It can also be very tempting when someone finds a good candidate that has experience in your industry. However, it is best to wait until you have some input from the people around you before making a decision as important as hiring an employee.

DON’T: Let Ego Get in the Way

It may be tempting to hire someone who is just like you and has a ready-made skill set. But think twice before making this common mistake because the last thing you want is to spend your time trying to create a work environment where two people with differing opinions are both fighting for dominance.

DON’T: Overlook Tax Issues

Ensure you’re familiar with what it means to be an employer in your state. There are many complex tax issues associated with hiring your first employee. Make sure you know what these entail, so you can avoid being surprised by the responsibility of handling payroll taxes. Know how much to withhold from each paycheck, and make sure that the employee fills out a W-4 or 1099 form.

Get what you need for your clients

Any business growth can be severely hindered by the lack of cash flow. Merchants rely on the professionals at Waterview Capital when they require urgent funding to support their business. We’ll work with you to identify the ideal same-day funding option to propel you and your clients toward success. Waterview Captial is backed by years of company funding expertise.

Your premier source for Working Capital

When merchants need fast funding to help their businesses grow, the experts at WaterviewCap.com are ready to help. We offer same-day funding to provide ISOs the tools they need to help their clients succeed!

Get the funds you need — fast!

Don’t wait around for funding. Get the money you need fast with same-day business funding from Waterview Capital.

At Waterview, we know busy business owners can’t wait around for funding. That’s why we offer some of the fastest decisions in the industry. With quick approvals and same-day funding, ISOs can get the funding they need to support their clients right away! Find out more at Waterviewcap.com.

The Top 5 Marketing Tactics Every Small Business Owner Needs to Use

Marketing a small business can be tough, especially if you don’t have experience with large corporations or advertising firms to help you out. But it doesn’t have to be so hard! If you focus on using the best marketing tactics, like those listed here, your business will grow in no time at all and you’ll have plenty of happy customers to show for it.

1) Build your email list

If you don’t already have an email list, the first thing you should focus on is growing your list. No matter what marketing tactic you use, having a large email list is essential for success. Building a loyal subscriber base will put you in control of your business, and every time someone comes back to check out what’s new on your site they’ll get a warm welcome. 

2) Create an online shop

One of the best marketing tactics for a small business is an online shop. Online shops offer greater visibility to your brand, and more time-saving opportunities like 24/7 online storefronts, and they typically have higher conversion rates than conventional brick-and-mortar stores.

3) Do guest blogging

Guest blogging is a great way for small businesses to get their name out there. Not only does it offer a unique and creative opportunity, but it also provides links back to your website that can help your company rank higher in Google search results.

Treat every post like you are trying to convince someone new about your business. Be sure the entire blog is informative, entertaining, and worth reading.

4) Learn how to market on Instagram

You don’t need to spend a lot of money on marketing, you just need to know the right way. And social media is one of the best places for it. A recent study found that for every 10 followers on Instagram, there’s an average of $638 in sales–a pretty decent return on investment!  Here are five simple ways to get started with your own Instagram marketing: Create engaging content -Have a consistent posting schedule -Build a diverse following (invite influencers) -Interact with your audience regularly -Share exclusive offers and discounts

5) Understand SEO

In order to rank higher in search engine results, you must improve your website’s SEO. This can be done through using keywords in your URL, title tag, and body text. You should also create a sitemap so that the search engines will find all of the pages on your site easily. It is important to have an original content marketing strategy, like writing articles for a blog or video-sharing platform such as YouTube. The last tip is to make sure that you’re following current trends and keeping up with new developments in social media marketing.

Get what you need for your clients

Any business growth can be severely hindered by the lack of cash flow. Merchants rely on the professionals at Waterview Capital when they require urgent funding to support their business. We’ll work with you to identify the ideal same-day funding option to propel you and your clients toward success. Waterview Captial is backed by years of company funding expertise.

Your premier source for Working Capital

When merchants need fast funding to help their businesses grow, the experts at WaterviewCap.com are ready to help. We offer same-day funding to provide ISOs the tools they need to help their clients succeed!

Get the funds you need — fast!

Don’t wait around for funding. Get the money you need fast with same-day business funding from Waterview Capital.

At Waterview, we know busy business owners can’t wait around for funding. That’s why we offer some of the fastest decisions in the industry. With quick approvals and same-day funding, ISOs can get the funding they need to support their clients right away! Find out more at Waterviewcap.com.

I’m not leaving, I’m just starting my own thing – Why Small Business Owners Need to Go, Solo

Starting a business with someone else can be a great idea if you’re both focused on the same goals and willing to put in the hard work together to achieve them. However, sometimes business partnerships fall apart due to personality clashes or differences in work ethic or vision, which can leave one partner wishing they had never agreed to the joint venture in the first place and wondering how they can break free and move on as an independent business owner.

Independence is key

In any business setting, every single individual has their own goals and strengths. And sometimes, those goals are at odds with each other. The big problem is when one of those individuals is pulling in the opposite direction as the rest of the group. It’s good to debate things, it’s bad when there’s a stalemate because no one can budge the other person. When it becomes unbearable for someone in the group (or they lose hope that they’ll ever get anywhere,) then what happens?

Finding out what you’re good at

It is important to be able to identify what your skill set is and determine the activities that you are best at. Identifying these will allow you more room for growth as a business owner. It is not enough just to have great business ideas; you also need know-how on how to execute them properly.

Just start with the basics

Just as with dating and romantic relationships, entrepreneurship is hard. It takes a lot of self-awareness, trust in yourself and determination. You need both independence and compromise. The difference is that there are no contracts–just expectations. When you’re a small business owner and the person who’s running the show, you have your name on it: literally.

Don’t be afraid to ask for help

When considering branching off on your own, it’s important to realize that there will be many new things that you need to learn. At the same time, there are some things you already know how to do and may want to do on your own. You don’t have to know everything about the start-up process before you make the leap. A common misconception is that as a small business owner, we’re completely self-sufficient and can do everything by ourselves.

Making connections isn’t always easy

Making connections with local potential clients is never easy when you’re a small business owner, which is why we all need to go solo and give it a try. With that said, the first step in promoting your new business or getting your products into stores is networking. The key word here is networking (yes it’s written twice). That’s because face-to-face time with people leads to conversations about your products and services.

Keeping it simple will help you succeed

So you’re ready to break off and go solo. Whether you are branching out from your current company or branching out on your own for the first time. The experience might be a little intimidating at first but keep in mind the following four easy steps that will ensure success: Be true to yourself, believe in yourself, focus on what makes you unique, and think of who your dream customer is.

Reaching out can mean friends, family, and clients too

To really think about a solo business venture it is important to reach out for help. Some of the best people in your life are friends, family, and clients. All of these people have something that you need when starting a new endeavor: access. You can ask your friends for advice or let them know what you are up to so they can introduce you to their network of clients.

Don’t leave without backup

Since every person is unique and has different skill sets, it might be a good idea to branch off on your own and explore your ideas. It’s important to take the time to explore what you want from life, as well as what makes you happy. That said, it’s important for small business owners like myself not to leave without backup; having a partner can come in handy when one is feeling drained or bogged down by others’ expectations.

Get what you need for your clients

Any business growth can be severely hindered by the lack of cash flow. Merchants rely on the professionals at Waterview Capital when they require urgent funding to support their business. We’ll work with you to identify the ideal same-day funding option to propel you and your clients toward success. Waterview Captial is backed by years of company funding expertise.

Your premier source for Working Capital

When merchants need fast funding to help their businesses grow, the experts at WaterviewCap.com are ready to help. We offer same-day funding to provide ISOs the tools they need to help their clients succeed!

Get the funds you need — fast!

Don’t wait around for funding. Get the money you need fast with same-day business funding from Waterview Capital.

At Waterview, we know busy business owners can’t wait around for funding. That’s why we offer some of the fastest decisions in the industry. With quick approvals and same-day funding, ISOs can get the funding they need to support their clients right away! Find out more at Waterviewcap.com.

To Revamp or Not to Revamp, That is the Question

Have you ever had the opportunity to revamp something in your life, whether it’s your home, car, or business? It’s not an easy decision to make, and it requires careful consideration of the advantages and disadvantages of the decision. Here are some pros and cons to think about if you’re considering revamping your small business.

The Business Outline

Many owners have dreams of one day opening a small business. Some of these dreams are fast-tracked and some evolve over time; others get completely forgotten. If you think it’s time for your business idea to take shape, there are some factors that can help you decide if it’s time to make a change. Do you feel like you’re chasing your own tail? Running in circles as you try to balance all the balls in the air? Then it might be time for a revamp.

Benefits of Revamping Your Business

So you’re thinking about revamping your business? If so, it can be a really beneficial process that has many benefits including the potential for increased revenue (goodbye stagnant wages!). The opportunity to refine your product-having more control over what happens with your business-being able to work on projects in which you have an interest rather than only focusing on those tasks related to running the company. 

Disadvantages of Revamping Your Business

It can be hard for a small business owner to find the time and resources needed for an overhaul. Rebuilding from scratch will likely mean investing time in new management, developing company branding and messaging again, as well as acquiring new customers. Another disadvantage would be that some customers who have been with you since your first days might get upset with major changes in how you conduct business.

The End Decision

Every business owner comes to a point where they realize that things have changed and they have outgrown their company. It may be time for you to revamp your company if you are experiencing any of these signs: – You notice how ineffective certain tasks are. – Employees are no longer satisfied with work and morale has fallen. – Product quality becomes mediocre because of a lack of process. – Customers aren’t coming back or remaining loyal to your business.

If you have already gone through a few iterations of your business and still feel like there are key areas you would like to change – revamping might be a good idea. This can be difficult because it will require starting over and implementing new products/services. However, at this point in your business’ lifespan, this is likely not going to be an issue as long as it was done well.

Get what you need for your clients

Any business growth can be severely hindered by the lack of cash flow. Merchants rely on the professionals at Waterview Capital when they require urgent funding to support their business. We’ll work with you to identify the ideal same-day funding option to propel you and your clients toward success. Waterview Captial is backed by years of company funding expertise.

Your premier source for Working Capital

When merchants need fast funding to help their businesses grow, the experts at WaterviewCap.com are ready to help. We offer same-day funding to provide ISOs the tools they need to help their clients succeed!

Get the funds you need — fast!

Don’t wait around for funding. Get the money you need fast with same-day business funding from Waterview Capital.

At Waterview, we know busy business owners can’t wait around for funding. That’s why we offer some of the fastest decisions in the industry. With quick approvals and same-day funding, ISOs can get the funding they need to support their clients immediately! Find out more at Waterviewcap.com.

5 Tips for Knowing When to Invest in Your Business

As an entrepreneur, you know the importance of making smart business decisions. At any given time, you’re juggling a million different projects and opportunities – some of which pay off handsomely, while others can cost you big-time if they go bad. In many cases, it’s not enough to make smart decisions; you also need to know when to invest in your business and when to hold back on spending money. Here are five tips for knowing when to invest in your business so that you can keep your company growing without overspending or sinking too much cash into one project at the expense of another.

1) Don’t Get Too Hungry

So what does it take to know when it’s time to invest? For starters, you need some cash on hand. More than one-third of small business owners don’t have enough liquid assets on hand in order to cover three months of operating expenses. Next, you should be growing. As the chart below shows, businesses that are growing and investing simultaneously outperform those who aren’t investing at all or those who invest but have stopped growing.

2) Don’t Get Too Full

It’s time for you to make a decision. How much should you invest in your business? More or less? Just trust your instincts and do the best you can, but don’t get too full of yourself. You may not be aware that there are some instances where less is more and vice versa. Consider these five important tips when deciding what amount to invest so that you know the best outcome.

3) Have Cash Flow

Cash flow is everything when it comes to running a business. Here are some tips on how to make sure you’re investing wisely and how to take care of your cash flow. 

1) Make careful choices about what you buy with your company’s money and time. What are the risks of making the purchase? What will happen if you don’t make the purchase? 

2) Create an emergency fund so that you have a cushion if an unexpected expense comes up. This can be as small as $500-$1000, but be realistic about what size would allow you not to panic when something happens. 

3) Be aware of all costs–especially recurring ones like rent or utilities.

4) Know Your Competition

Good timing is crucial when it comes to business decisions. You should have an understanding of the current economic climate before taking the leap into new investments. It’s good practice, before committing any money, to do a little research about your industry and make sure you’re headed in the right direction. Research shows that small business investment is on the rise thanks to a recovering economy, so now may be a perfect time if you’ve been hesitant up until this point. Now more than ever, it’s important not to put off any major decision just because things seem slow or difficult now because it may soon get better!

5) Time It Right

Startup companies often pour all their time and money into the start of their business, going all-in as quickly as possible. But many don’t realize that there are times when it pays to invest more heavily than others. It’s important not only to have a healthy mix of both expenses and investments but also to know which category is best at any given time. To know what your company needs most, you need a business strategy—a plan on how you want your business to grow over time. Once you have your goals laid out and the timeline established, here are some factors you’ll want to consider: 

When should I put my money in? At what stage of our company should we be spending now? 

What about equity?

Get what you need for your clients

Any business growth can be severely hindered by the lack of cash flow. Merchants rely on the professionals at Waterview Capital when they require urgent funding to support their business. We’ll work with you to identify the ideal same-day funding option to propel you and your clients toward success. Waterview Captial is backed by years of company funding expertise.

Your premier source for Working Capital

When merchants need fast funding to help their businesses grow, the experts at WaterviewCap.com are ready to help. We offer same-day funding to provide ISOs the tools they need to help their clients succeed!

Get the funds you need — fast!

Don’t wait around for funding. Get the money you need fast with same-day business funding from Waterview Capital.

At Waterview, we know busy business owners can’t wait around for funding. That’s why we offer some of the fastest decisions in the industry. With quick approvals and same-day funding, ISOs can get the funding they need to support their clients right away! Find out more at Waterviewcap.com.

Can’t get a bank loan? Here are other financing options for small businesses.

Banks aren’t always the easiest place to get financing, especially if you’re just starting out as a small business owner. In fact, according to the National Small Business Association, fewer than one in four small businesses receive bank loans, which could be due to stricter lending standards after the 2008 financial crisis or simply because banks are looking for larger loans that will earn them more interest. Thankfully, there are plenty of other options available to help small businesses find affordable financing that suits their needs and budget. Here are 7 different financing options for small businesses.

1) The Small Business Administration

The Small Business Administration is one option you can look into if you’re having trouble getting a traditional loan. While it may not always be the best fit, this federal agency’s low-interest loans can help you manage unexpected costs, seize opportunities that might otherwise pass you by, and succeed in the long run. Be sure to apply early on because the program gets tougher to qualify for as time goes on! The National Association of Women Business Owners has offered women entrepreneurs angel investors and links to several loans available from many organizations like woman-owned or minority-owned banks to promote success with their business ventures.

2) Friends and Family

Raising money from friends and family can be appealing as they know your business better than anyone else, but this method may also expose you to more debt, as they’ll expect to be paid back in the future. With this type of investment, there is also the risk that personal dynamics between friends or family members may impact their willingness to help out. So tread carefully!

If you’ve tried Friends and Family funding and it didn’t work out, don’t give up just yet! There are many different ways to raise funds for your business!

3) Government Grants

If you’re looking to grow your business without the help of the bank, here’s an option that could save you some time and money. Several governmental agencies offer loans or grants to eligible companies, which might make all the difference in terms of getting your business on its feet quickly and easily. Some sites that can help match up potential grant-funded opportunities with small businesses include ZINC and Grants.gov, which was created by the U.S. government with federal grant opportunities at its fingertips—that is, as long as you qualify and have one or more clean audits behind you.

4) Alternative Financing Options

Have you heard of Angel Investors? Angel investors are individuals who invest in small startups and emerging growth companies with the expectation of significant returns on their investments. Unlike venture capitalists, angel investors invest their own money and frequently offer mentorship or coaching to help the company grow and achieve their desired financial goals. They can provide funding for anything from equipment purchases, to hiring staff, launching marketing campaigns,  acquiring a new business, or buying out an existing business. Find them by networking at events, through acquaintances, or by posting on sites like AngelList and EntrepreneurList. These investor profiles usually include relevant experience as well as what they expect of you and how they want you to raise the funds – so be sure you know what kind of investor is right for your needs before reaching out.

5) Equity Funding Options

Most startups are happy to have found seed funding, meaning they had the capital to keep themselves afloat in the very beginning stages of their business. Seed funding typically ranges from $1 million to $2 million, but it can vary depending on the type of industry and how established the business is. If you’re thinking about starting a new company and want to pursue equity funding as an option, here’s what you need to know about different types of equity investments

6) Traditional Lending Options

Getting your first business loan can be confusing, with many different sources and types of loans available. While it’s not an apples-to-apples comparison, traditional lending institutions like banks will use your company’s net worth to determine what kind of credit line you qualify for.

7) How to Get Back On Track If Your Business Gets Off Track

Having a credit card to use only for business expenses can be an easy way to keep track of your spending and separate personal from business obligations. Bank loans should not be the first option when looking for outside capital, so it’s worth exploring non-traditional methods before committing to one that could have hefty long-term consequences on your personal finances. Grants and crowdsourcing campaigns can also provide funding, but there is typically no money upfront with these opportunities; if you need cash flow quickly in order to keep operating then this may not be the best route to take. The most important thing is to research all of your options carefully and determine which will work best given your current circumstances!

Get what you need for your clients

Any business growth can be severely hindered by the lack of cash flow. Merchants rely on the professionals at Waterview Capital when they require urgent funding to support their business. We’ll work with you to identify the ideal same-day funding option to propel you and your clients toward success. Waterview Captial is backed by years of company funding expertise.

Your premier source for Working Capital

When merchants need fast funding to help their businesses grow, the experts at WaterviewCap.com are ready to help. We offer same-day funding to provide ISOs the tools they need to help their clients succeed!

Get the funds you need — fast!

Don’t wait around for funding. Get the money you need fast with same-day business funding from Waterview Capital.

At Waterview, we know busy business owners can’t wait around for funding. That’s why we offer some of the fastest decisioning in the industry. With quick approvals and same-day funding, ISOs can get the funding they need to support their clients right away! Find out more at Waterviewcap.com.

Hiring More Employees? How to Calculate the Financial Funds You Need.

It’s amazing to look back at the success of your business and see that it has grown so much, but as it grows, so does the workload you need to take on alone. At times like these, it can be tempting to hire more employees quickly, but this may not be the best idea. It’s important to make sure that your business has enough money and resources to support additional employees before you begin the hiring process in order to avoid costly mistakes and setbacks for your business down the road. Read on for some tips about how to calculate the financial funds you need before bringing on new employees.

The Issue Of Scaling

It’s said that only one out of a hundred startups make it past the first year. And while those odds might not seem so daunting, they can be a scary statistic for an entrepreneur who knows they have a product or service with a sustainable market and demand. Now more than ever, scaling is key for any successful business. With revenue increasing, there will come a time when you need more employees on board. This means more expenses, which has the potential to put some entrepreneurs off hiring new staff members if they aren’t sure about what that entails in terms of financial funding.

Calculating Your Costs

Take your gross sales and subtract your production costs, then divide that number by the number of hours you need additional help per week. This is how much it will cost you per hour to have someone on board. Multiply that number by 40, and this is how much it will cost you per month for salary and benefits. Depending on what resources or tools you’re already using in your business, you might also have to factor equipment rental costs or other variable expenses into this equation.

Start From The Bottom Up

Every successful business requires staffing and human resources in order to be running smoothly. The person that you’re looking for should fit into your team well, be capable of handling the tasks being delegated, and have a good work ethic. These are just a few aspects that are important when hiring new employees. When making a hiring decision, it’s important to take into account your budget and financial stability as well. Calculating what funds you need for more staff will help ensure that your business doesn’t take on more expenses than it can sustain at one time.

Sales Costs

As with any business, as your company grows and becomes more successful, you will need to allocate more financial resources towards other aspects of your company such as marketing or new equipment. But before investing in these things, it’s important to get a better handle on your overall financial health so that you don’t end up hurting your company later on by overspending. Once you know what your expenses are now and what they’re likely going to be in the future, then you can invest accordingly without overextending yourself. 

Fortunately, there are lots of ways you can figure out how much money is necessary for hiring more employees. Some companies track this information using a simple mathematical formula an expansion rate to determine how much they need annually when they start adding employees at a certain pace.

Customer Support Costs

A lot of business owners struggle with making the jump from needing one or two employees to needing a larger staff. They may not know where they’ll find great talent, how much an employee costs, and how much customer support will cost them each month. It’s important for you to calculate this in advance so that when you get more customers you don’t feel overworked and can build your business to sustain a higher headcount. 

#1 – Get clear on why you need more employees. Is it because there is no room for growth as an individual or do you need a buffer between bursting at the seams with work? 

#2 – Figure out what hours are available in your day.

Marketing Costs

At first, a lot of marketing can be done via social media and other outlets. For bigger companies, this won’t really work as they will require something like a PR team which costs money. Marketing takes quite a bit of time and effort, which is why it’s necessary to calculate how much you need for staff before hiring new people. Make sure that your company has enough financial funds for someone’s salary and then factor in if their salary will fluctuate (and if so, how much) or if they’re an intern and whether or not their internship ends at some point. It all comes down to the person’s experience level, goals (whether they have them), and any additional factors you might consider before beginning a business partnership with them.

Content Costs

When your business is thriving and you need more employees, you may find that it’s difficult to calculate how much financial backing you’ll need. In a best-case scenario, you can use an Excel spreadsheet that helps break down your cash flow. It’s important to be realistic about what your company needs as it grows, so don’t forget to budget for things like advertising or hiring staff. When calculating the funds you’ll need for increased staffing, consider some of these factors: 

-The number of new employees (or positions) needed 

-Whether there are prerequisites for those new employees 

-The wages of each position 

-Taxes on wages and potential benefits

Additional Expenses

Once you’ve identified what kind of staff you’ll need, go back and look at the last month’s expenses and evaluate how much more it would cost to support your business with a larger team. Start by looking at labor-related expenses such as additional paychecks (payscale difference) and payroll taxes. Then, consider additional general operating costs like space for employees, supply ordering or inventory control costs, equipment purchases, travel, and time for onboarding. Consider these new projected costs for about six months or so just to ensure that you’re planning appropriately for all of the increased expenses involved with hiring more staff.

Get what you need for your clients

Any business growth can be severely hindered by the lack of cash flow. Merchants rely on the professionals at Waterview Capital when they require urgent funding to support their business. We’ll work with you to identify the ideal same-day funding option to propel you and your clients toward success. Waterview Captial is backed by years of company funding expertise.

Your premier source for Working Capital

When merchants need fast funding to help their businesses grow, the experts at WaterviewCap.com are ready to help. We offer same-day funding to provide ISOs the tools they need to help their clients succeed!

Get the funds you need — fast!

Don’t wait around for funding. Get the money you need fast with same-day business funding from Waterview Capital.

At Waterview, we know busy business owners can’t wait around for funding. That’s why we offer some of the fastest decisioning in the industry. With quick approvals and same-day funding, ISOs can get the funding they need to support their clients right away! Find out more at Waterviewcap.com.

7 Tips for Writing a Killer Business Plan

Writing a business plan can seem like a lot of work, especially if you’ve never done it before. But don’t be intimidated — creating an effective plan doesn’t have to be difficult or time-consuming. By following the steps outlined below, you’ll have the basics of your business plan written in no time!

Step 1 – Set your goals

It all starts with setting goals. What is the purpose of your company? Are you trying to raise capital, provide a service, or develop new technology? Write these goals down and make sure they are SMART: Specific, Measurable, Achievable, Relevant, and Time-bound. To help with goal setting we recommend planning out your business’s key milestones and long-term goals so that you’re confident when approaching investors or other funding sources.

If you’re looking for templates we highly recommend finding one that not only covers what you need but one that can be modified based on the specifics of your company or industry. 

Step 2 – Brainstorm ideas

Finding the right idea to start your business will require some brainstorming. Some factors to consider are your personal passions, market trends, and the feasibility of your idea. While this may seem daunting at first, remember that some of the best companies around got their start in someone’s garage or basement. In order to successfully come up with an idea you need to have an open mind and be creative!

Step 3 – Analyze your market and competition

It is also important to list your business competitors, so you know where you stand. This can be in the form of names, logos, or product images. You should note their approximate market share and when they started in the market. Also, include a brief summary of how they are different than your company.

It is necessary to break down the people who will be potential customers of your product. Include information such as location, annual income, age, and more specific data on what he or she might be looking for in terms of an investment product or purchase. What percentage would each type represent? Who has the most power in this decision?

Step 4 – Prepare the executive summary

An executive summary is the part of your business plan that will get investors to read the rest of your business plan. You want to introduce the company and give them an overview of how you see it growing and succeeding. Be succinct, professional, and concrete. Your best bet is to end with a statement about how much money you need, or what specific pieces are missing from your team (i.e., We want someone with five years of experience in marketing or We need capital to open our first location).

Step 5 – Write the details of your business model

The last step in the process is to articulate your business model. Be specific and be detailed. What do you want to sell? What services will you provide? Who are your competitors? Who is your target market, and how much money do you want to make by the end of the year? One good strategy is creating three business models: low-end, middle, and high-end.

Step 6 – Detail your target market, marketing strategy, services and products, financial expectations, and business history

Once you have the aforementioned six steps checked off, make sure you are covering all your bases. Have you selected an industry with high ROI potential? Are there any barriers to entry for your proposed market? What about competition? Does your idea stand out from the pack in some way that sets it apart from others? What is your target demographic and what problem are you solving for them? Do the numbers add up? All of these questions should be explored and addressed in one succinct and comprehensive document that represents your best business plan.

Step 7 – Make sure you have all the needed proof points to help your funding goal come true

1. Assess your risk level and desired return – Your business plan should include risk assessment tools, such as benchmarks from comparable investments in your industry or benchmarking tools from third-party providers, to help you find the appropriate financing option. It’s also important to think about which return rate you want – the higher the potential return, the higher the amount of risk your business will have. 

2. Focus on what’s new or exciting about your idea – There are many ways to structure your information in order to get funding approval, but one way is to present this information strategically so that it stands out and attracts investors’ attention quickly. One way to do this is by including testimonials and case studies showing what successful companies with similar goals have achieved and how they did it.

Get what you need for your clients

Any business growth can be severely hindered by the lack of cash flow. Merchants rely on the professionals at Waterview Capital when they require urgent funding to support their business. We’ll work with you to identify the ideal same-day funding option to propel you and your clients toward success. Waterview Captial is backed by years of company funding expertise.

Your premier source for Working Capital

When merchants need fast funding to help their businesses grow, the experts at WaterviewCap.com are ready to help. We offer same-day funding to provide ISOs the tools they need to help their clients succeed!

Get the funds you need — fast!

Don’t wait around for funding. Get the money you need fast with same-day business funding from Waterview Capital.

At Waterview, we know busy business owners can’t wait around for funding. That’s why we offer some of the fastest decisioning in the industry. With quick approvals and same-day funding, ISOs can get the funding they need to support their clients right away! Find out more at Waterviewcap.com.

The Top Ways to Better Manage Your Monthly Business Bill Payments

Running your own business can be exhausting at times, especially when you’re juggling every aspect of the business on your own. That’s why it’s important to keep an eye on your monthly expenses and make sure you have enough money saved up to cover each of them without draining your bank account. If you follow these three tips to better manage your monthly business bill payments, you can rest easy knowing that even if there are problems with any one payment, the others won’t be affected by it. You can use these tips both for your business and personal finances!

Make a list of every bill you have.

1. First, make a list of every bill you have. This includes both business and personal expenses.

2. Next, prioritize your bills. Make sure to pay the most important ones first, like your mortgage or rent, car payment, and utilities.

3. Set up a budget for your bill payments. Determine how much you can realistically afford to pay each month, and stick to it.

4. If you have any extra money left over after paying your bills, consider using it to pay down debt or save for a rainy day.

5. Automate your bill payments whenever possible. This will help ensure that you never miss a payment and avoid late fees.

 Use online accounting software

If you’re like most business owners, you understand the importance of staying on top of your monthly bill payments. After all, late payments can lead to costly penalties and interest charges. But with so many bills to keep track of, it can be tough to stay organized. That’s where online accounting software comes in. It lets you view all of your invoices and statements in one place, from one dashboard. With just a few clicks, you can create custom payment reminders for every due date – including recurring ones. It also helps by calculating due dates automatically for future transactions – taking away any guesswork or headaches!

 Have an organized way of keeping track of monthly expenses

One way to better manage your monthly business bill payments is to have a system for tracking expenses. This could be as simple as creating a spreadsheet or using accounting software. Whatever method you choose, make sure it’s one that works for you and that you’ll actually use. If you need help setting up a system, talk with your accountant. 

You can also save money by investing in bulk items: Another way to save money when paying bills is by buying in bulk quantities when possible. 

You can ask vendors if they offer discounts on purchases of certain quantities, too. 

If this doesn’t work for the product you’re looking at purchasing, try searching online for the best deals on what you need and then buy in bulk from that store instead. 

This might not work for everything but it’s worth asking about or doing some research before making an expensive purchase to see if there are any ways of saving money when paying bills.

Use a bill tracker? 

There are a few key things you can do to better manage your monthly business bill payments. First, get organized and make a list of all of your bills. Include the due date and amount owed for each bill. This will help you keep track of what is due and when. Next, create a budget for your bill payments. Include a buffer for unexpected expenses. Then, automate your payments where possible. Finally, review your bill payment system regularly to make sure it is still working for you and your business.

 Automate your savings

If you’re like most business owners, you’re always looking for ways to save money. One way to do that is to automate your monthly bill payments. By setting up automatic payments, you can ensure that your bills are paid on time and avoid late fees. Plus, you can often get a discount for paying your bills on time. If you have multiple people managing the finances of your company, make sure that they’re all in sync about when each payment should be made each month. As we’ve discussed before, this is one of the many benefits of automating your bill pay! 

Automating also ensures that there will be no missed or forgotten payments from an employee who was out sick or on vacation. 

If someone leaves the company or gets laid off, they won’t miss any important deadlines because their payment has already been taken care of. When creating your system for automating payments, make sure to keep things simple and organized so everything stays on track!

Realizing you may need Financial Assistance 

There are a number of ways you can better manage your monthly business bill payments. First, take a look at your spending and try to cut costs where possible. Then, create a budget and stick to it. You should also automate your payments whenever possible and set up reminders so you don’t miss any due dates. Finally, if you’re struggling to make ends meet, don’t be afraid to seek out financial assistance from a professional. With these tips, you can get your finances back on track in no time.

Your premier source for Working Capital

When merchants need fast funding to help their businesses grow, the experts at WaterviewCap.com are ready to help. We offer same-day funding to provide ISOs the tools they need to help their clients succeed!

Get the funds you need — fast!

Don’t wait around for funding. Get the money you need fast with same-day business funding from Waterview Capital.

At Waterview, we know busy business owners can’t wait around for funding. That’s why we offer some of the fastest decisions in the industry. With quick approvals and same-day funding, ISOs can get the funding they need to support their clients right away! Find out more at Waterviewcap.com.

The best way to downsize your company during tough financial times

Tough financial times call for tough decisions, and one of the toughest that an entrepreneur can make is to downsize their company. Before you do anything else, take the time to understand your situation and evaluate your options carefully; there are no right or wrong ways to go about downsizing, and choosing the best way will depend on your unique business circumstances. In this article, we’ll outline some general strategies that work well during tough financial times, as well as some considerations you should think about when deciding what direction to take your business in after you’ve downsized it.

Downsizing Pros and Cons

When you’re faced with the possibility of downsizing your company, it’s important to weigh the pros and cons carefully. On the plus side, downsizing can help you save money and become more efficient. On the downside, it can be disruptive to your business and cause morale problems. Here are some things to consider before making a decision -Are there other ways to cut costs? 

-How will I compensate my employees who lose their jobs? 

-Will I need to re-organize my staff so that we are still able to accomplish our mission? 

There is no perfect answer for every situation, but it’s important to make an informed decision about whether or not downsizing is right for you.

Is it smart to downsize

One of the best ways for firms to save costs is through downsizing. Labor is typically a significant expense for small business owners. You’ll be able to invest money into other crucial areas by having fewer personnel. 

Although downsizing is the process of permanently reducing a company’s workforce by eliminating underperforming employees or departments, it can be used to make firms leaner and more effective. 

List out the main aspects you need to consider when downsizing

1. Do you need to downsize? Examine your current financial situation and see if there are other ways to cut costs.

2. If you do need to downsize, how will you do it? There are a few different ways to downsize, so you’ll need to decide which is best for your company.

3. Who will be affected by the downsizing? Make sure you take into account not only your employees but also your customers and vendors.

4. How will you communicate the downsizing? Be clear and concise in your communication, and make sure everyone who needs to be informed is aware of the changes.

5. What are the legal implications of downsizing?

Figuring out how you’re going to compensate for downsizing

When you’re deciding to downsize your company, you need to first figure out how you’re going to compensate for the loss in productivity. One way to do this is by automating as many of your business processes as possible. This will help free up time for your employees to focus on other tasks. Another way to compensate for downsizing is by outsourcing some of your work. This can be a great way to save money and still get the quality work you need. Finally, you need to make sure that you communicate with your employees about the changes that are happening. This will help them understand why the downsizing is happening and what they can do to help make it a success.

Explain some options that will help employees cope with the change 

Losing your job is never easy. But if you find yourself having to downsize your company, there are some things you can do to help ease the transition for your employees. Offer severance packages and try to give a few week’s notice before making any layoffs. Encourage them to take advantage of training or other resources that will allow them to find a new job right away. Offer them opportunities for feedback, so they know what they did well and where they need improvement. And finally, offer ongoing support, so they feel like a valued member of the team while they look for their next opportunity. For more tips on downsizing, visit our blog today!

Transition process during downsizing 

As you go through the process of downsizing your company, there are a few key things to keep in mind in order to make the transition as smooth as possible for everyone involved. First, be sure to communicate with your employees early and often. Keep them updated on the situation and what changes will be happening. Secondly, try to be as compassionate as possible. This is a difficult time for everyone, and it’s important to show empathy. Third, be clear about what the expectations are for those who remain with the company. Fourth, provide outplacement services for those who are being let go. This can help ease the transition and give them a better chance at finding new employment. Fifth, give employees plenty of notice before any changes go into effect.

List out what you need to do after downsizing

1. After you’ve decided to downsize your company, it’s important to communicate the decision to employees. Be clear about why downsizing is necessary and what it will mean for the company and employees.

2. Once you’ve communicated the decision, start working on a plan for how the downsizing will be carried out. This plan should include when and how employees will be let go, what benefits they’ll receive, and how the remaining employees will be restructured.

3. Start thinking about how you’ll reduce costs in other areas of the business. This may include cutting back on advertising, travel, or other expenses.

Options for Financial help during downsizing 

1. When you are facing the decision to downsize your company, there are a few options for financial help that you can consider. 

2. One option is to take out a loan from the government. The government offers loans to small businesses that are struggling financially. 

3. Another option is to take out a loan from a bank. This can be a more difficult option, as banks are often hesitant to give loans to businesses that are downsizing. 

4. You can also look into grants from the government or private organizations. These can be difficult to obtain, but if you are able to get one, it can provide a much-needed financial boost during tough times.

Get what you need for your Business

The lack of cash flow can severely hinder any business growth. Merchants rely on the professionals at Waterview Capital when they require urgent funding to support their business. We’ll work with you to identify the ideal same-day funding option to propel you and your clients toward success. Waterview Capital is backed by years of company funding expertise.

Your premier source for Working Capital

When merchants need fast funding to help their businesses grow, the experts at WaterviewCap.com are ready to help. We offer same-day funding to provide ISOs the tools they need to help their clients succeed!

Get the funds you need — fast!

Don’t wait around for funding. Get the money you need fast with same-day business funding from Waterview Capital.

At Waterview, we know busy business owners can’t wait around for funding. That’s why we offer some of the fastest decisions in the industry. With quick approvals and same-day funding, ISOs can get the funding they need to support their clients right away! Find out more at Waterviewcap.com.