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If you’re the typical small business owner, you began your business with an exciting idea, a passion. No one goes into business thinking, “I can’t wait to work on cash flow challenges.” And yet, cash flow is one of the top reasons businesses close their doors. It’s not that they aren’t making money. It’s that managing it is not everyone’s skill set. Money management challenges are one of the most critical areas you need to master to be successful. This article is here to provide general information. Consult a financial planner or tax professional for more long-term solutions. 
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The market is volatile. No, we’re not talking about stocks. The needs and desires of your audience are evolving, and your business marketing needs to follow suit. If you’re not practicing agile marketing, you’re going to fall behind. Agile marketing is one of the most crucial aspects of marketing for businesses today. It offers significant advantages in an ever-changing marketplace. And the public’s expectations surrounding it (bet you didn’t know they already expect agility in marketing) can mean a potentially costly mistake for businesses that aren’t implementing it.  You have a great business. You offer items/services everyone needs, yet you’re struggling to get people in the door. What can you do? You need traffic to increase sales, whether that’s online or in-person. If your business is struggling to bring in customers, you know that has to change if you’re going to survive. While there are many ways to improve your online traffic (search engine optimization, user experience, etc.), your physical business’ traffic is all about location. But before you go and pack up your stuff to find a better location, let’s go over a few things you can do to increase your daily visitors.  Business ownership is often romanticized as a thrilling combo ride of passion, innovation, and drive where one can wear a hoodie and hang out playing video games all day while money magically flows into your bank account. But anyone in business knows the idea of the effortless hustle or business is about as untrue as being discovered on a street corner in Hollywood and becoming a blockbuster star the very next day. Does it happen? Occasionally. But there are more stories of struggle and strife than instant riches. The reality for many business owners is a less glamorous one that can take a significant toll on mental health. A study by the University of California, Berkeley, found that a staggering 72% of entrepreneurs report experiencing mental health concerns, with 30% reporting lifetime depression. The weight of this statistic underscores the importance of addressing the mental health challenges faced by those at the helm of our businesses. And that begins by looking in the mirror. |
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