Category: Ebay Selling

Over one-fifth of small businesses fail within their first year, according to the Bureau of Labor and Statistics. Around half survive their first five years. Roughly one-third make it to 10 years, and around one-quarter of businesses make it to 15. In other words, running a successful business for more than a year or two is incredibly difficult. Few entrepreneurs have the skill, stamina, and grit to survive long-term. So what does it take to become the exception to the rule? Why do so many entrepreneurs fail, and how can you avoid their ranks? As you contemplate going into business for yourself or explore the risks in your existing business, beware of the following common pitfalls and traps. Most People Start a Business for the Wrong Reasons Before diving into specific reasons for business failure, it’s worth pausing to note that most people start with a faulty foundation in their…

Freelancing is an old practice. The term “freelance” originated in the early 1800s and referred to medieval warriors who were offering their services for hire — namely their skills in combat. Lances were a popular weapon of choice during this time, so when your lance was free from a contract and you were available to take on a new client, you were considered a free lance. The concept of freelancing endured the test of time and is now a popular and recognized form of entrepreneurship. And it’s no longer limited to knights and mercenaries. Freelance writers, editors, software developers, designers, accountants, and many other professionals offer their services on a contract basis in an ever-expanding gig economy. In the modern world, freelancers need to keep track of a lot more paperwork than their medieval counterparts. From quotes and contracts to invoices and receipts, here are the most important records you…

You visit your doctor every year for a checkup, take your car in for regular maintenance, and schedule a service call in autumn before turning on your furnace, but when was the last time your business got a checkup? Many business owners are so busy running their companies, they don’t take the time to check in on their businesses’ financial health. And that can be an expensive mistake. Your business’s financial health is a critical part of its success. At least once a year, take the time to examine how your business is running and ensure you’re taking the steps necessary to achieve your goals. Revenues Revenue is the amount of money your business brings in or earns before any expenses are taken out. Without revenue, your company cannot make a profit and stay viable in the long run. Here’s how to ensure your revenues lead to profitability. Step 1:…

QuickBooks and FreshBooks are among the best-known names in accounting software — both mainstays providing invoicing and payment tools and much more for freelancers, self-employed service providers, and small- and medium sized-business owners. QuickBooks, owned by Intuit — the company behind TurboTax and Mint — has been the go-to accounting and bookkeeping software for decades. FreshBooks is a newer option, meeting the financial needs of online and home-based business owners and freelancers. The companies’ names are so similar they might be easily conflated. But their services differ substantially and serve significantly different types of businesses. Review their features and pricing to determine which best meets your business needs. Key Features Which service is the best fit for your business depends on the types of accounting features you’re looking for. FreshBooks and QuickBooks share several basic features, but each service caters to a different type of business owner, so their advanced…

According to the Small Business Administration, about half of all new businesses fail within the first five years. While most entrepreneurs focus on increasing sales to stave off collapse, lowering expenses is equally or perhaps more important when trying to achieve or maintain profitability. Cutting business expenses requires some tough choices and trade-offs, but it doesn’t have to be a painful process, nor one that fundamentally alters your business plan. Many, many business owners before you have put to use these straightforward strategies to trim overhead, streamline operating expenses, and ultimately increase profitability. Pro Tip: Are you paying fees on your business checking account? Bluevine was built for entrepreneurs and small businesses. There are no fees and you can apply in just minutes. Why Business Profit Margin Matters Online accounting software like Freshbooks is a great way to track your revenue and expenses, giving you insight into your business’s profit…

As an employer, it’s up to you to attract and retain top talent for your company. If you don’t maintain a competitive edge, you may be overlooked by desirable candidates, leaving you with a shrinking hiring pool and a pile of mediocre applications to sort through. Many well-known companies like Netflix, Google, and Facebook have built strong reputations as top employers by offering a wide variety of perks and benefits that attract the best employees in the industry. Although you may not be in a position to offer the same or as many options as these tech giants, you can still work to make your startup or small business more competitive by reviewing and enhancing the perks and benefits that you do offer to employees. From individual, team-based, companywide, and in-office perks and benefits, here are some of the most popular and in-demand extras that will help you to get…

Congratulations! A potential foreign customer for your small business has placed an order. You’re going global. That’s terrific! But as good as it is, there are challenges with export orders that far surpass the challenges of domestic orders, such as export controls, customs documents, origin marking requirements, and payment challenges. How will your foreign customer pay you for your goods? If they’re willing to pay in advance by wire transfer, that’s probably the best option for you since it’s almost immediate and could even be free. However, both your bank and your customer’s bank might charge a wire transfer fee, which could range from $20 up to $100, depending on your account and your bank’s expertise. If the order value is too low, it won’t be worth it. Then, there are credit cards and debit cards. Payment solutions such as Visa, Mastercard, and PayPal are all great options, and they tend to charge…