By Jason Holmes

The festive seasons like Christmas are pretty famous for being an expensive time for individuals. However, it isn’t just expensive for individuals; it’s expensive for businesses as well.

If you’re a savvy business owner, then you must be having an eye on the bottom line. Managing your business to reduce costs and saving up money for your future is obviously your foremost concern what with the Christmas season almost here. Read on to find out how you can manage your business effectively to cut costs as well as save money for the future.

Five effective strategies to reduce business costs and save money during Christmas.

You’ve got to understand the fact that reducing business costs can’t just be all about slashing your cash outflows in an indiscriminate manner. Effective business management requires that you don’t reduce business costs such that it has an adverse impact on your customers. You have to adopt a considerate and methodical approach. (more…)

By Nellie Akalp

Ask any small business owner or self-employed person to name their least favorite tasks, and bookkeeping, money management, and paying taxes will all make the list. While these chores may not be popular, they’re absolutely critical.

Unlike with big companies, the finances of the solo business are often closely intertwined with the personal finances of the business owner. That’s why solo businesses need to pay extra close attention to managing their finances. Here are a few simple steps to do so:

1. Use dedicated business accounts

If you haven’t done so already, take the steps to keep your personal finances and expenses separate from those of your business. This is mandatory if your business is structured as an LLC or Corporation, but it’s good practice for sole proprietors as well. (more…)

By Susan K. Osborne

Running your own business can be overwhelming, especially if you are a team of one.

We wear so many hats as entrepreneurs that it’s really easy to fall behind with some of the more time-consuming duties.

One of the tasks that can be particularly hard to stay on top of is your bookkeeping. Not only can it be time-consuming, but it can also be one of those painful tasks that you either may not know how to do, or you just really despise (as many entrepreneurs do!).

While bookkeeping and creating financial reports may be a tough part of your business to maintain, it is critically important to the success of your company.

Having accurate financial reports for your business each month make you a more savvy business owner, providing you with the tools to make good decisions. (more…)

By Holly Reisem Hanna

Recently I purchased the book, $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future by Chris Guillebeau.

While I haven’t had a chance to dig into it yet (because I’ve been too busy reading the Hunger Games preparing my daughter for kindergarten) the basis of the book is to share valuable entrepreneurial lessons from those who’ve learned how to turn their passion into a career that that they love.

In his book, Chris interviews entrepreneurs who have built successful businesses (earning $50,000+ annually) from modest investments (in some cases, $100 or less) – pretty impressive, right?! (more…)

By Dave Thomas

As more and more Americans battle with layoffs and a challenging economic environment, it is not uncommon to see a larger number of people going into business for themselves.

Whether it is the idea that they can make better money, set their own hours, or be their own boss, more Americans maybe than ever before are giving the idea of being an entrepreneur a shot.

In order to make a successful go of it, however, you need to put all your options on the table when it comes to making a good return on investment (ROI) for your business, trimming expenses wherever possible, and taking advantage of the various tax deductions that await you each spring. (more…)