Looking for something specific? Enter one or more keywords and search our entire site.	900 N. Kings Highway, Cherry Hill, New Jersey 08034 856.667.4100 · 215.563.0276 · Fax: 856.667.3652 Monthly Business Tips 2008 Business Tips Archive December 2008 - Tips for running a successful franchise By some estimates, business franchises account for over 50% of United States retail revenues. Franchise firms may be found in a wide variety of industries, from fast food to carpet cleaning to financial services to junk removal. Whether you're in the market for a franchise or already own one, implementing a few tried-and-true principles can help you acquire a share of that revenue pie. November 2008 - Hiring mistakes start-up companies should avoid Challenges that merely annoy an established firm often capsize a start-up company. This is especially true in the area of staffing. When a big corporation makes a hiring mistake—bringing in a natural-born accountant to do a sales job, for example — the company suffers, but survives. Committed by a fledgling firm, the same mistake may spell disaster. After all, if your company employs only five people, one wrongly hired employee will make up a fifth of your work force. That person's incompetence or poor people skills can bludgeon the firm's bottom line. October 2008 - Tips for financing a new business All small businesses start with something in common: they devour cash. They need cash for inventory, office space, insurance, legal fees, business licenses, remodeling costs, and the list goes on. Because very few start-ups can secure equity financing from venture capitalists, most business owners must get needed cash from a combination of personal assets and debt. If you're thinking about starting a small business, here's a short list of financing sources to consider: September 2008 - Start your small business right Throughout America, in rural towns and giant cities, companies come and go with clockwork frequency. That specialty store with the ragged sign and lousy service? It's been replaced by a funky restaurant that serves great linguini. Yesterday's bicycle shop is today's bakery. It's no wonder. Creating a company that can survive even a few years is not an easy feat. August 2008 - Business for sale? Watch out for scams You've spent years developing your business, building its value, enhancing its reputation. Now you're ready to move on. You place a "Business for Sale" advertisement in the Internet classifieds, and the next day an eager — overly eager — buyer approaches you with a deal that seems too good to be true. July 2008 - Should you lease or buy business equipment? Manufacturing equipment, computer networks, fleets of automobiles, you name it — all can be leased. But is leasing always a good option? When does leasing make sense? When is it a poor alternative? June 2008 - Is your business prepared for disaster? Over the past several years, businesses that couldn't spare the time to prepare for emergencies have learned a tough lesson: floods, fires and other disasters strike when least expected. Some of these companies have closed their doors for good; others will take years to rebuild. Don't let your business become a statistic like one of them. May 2008 - How to manage cash flow in your business Your business needs cash to survive. Manage cash well, and your company can sustain growth into a profitable future. Neglect it, and your firm may soon be selling inventory on the auction block. April 2008 - Does your business Web site make these blunders? No matter the size of your company, customers nowadays expect your firm to have a presence on the Internet. They'll be scanning your business cards, advertisements, and letterhead for a Web site address. But once those customers visit your home page, will they stay? Will they buy? Will they come back? March - 2008 Raising prices is a balancing act As climbing energy costs continue to erode the profit margins of many small businesses, owners are again considering whether they should raise prices. But as Hamlet would say, "Ah, there's the rub." If you raise prices, you risk losing clients to competitors. If you don't, rising costs can capsize your company. February 2008 - Build strong customer relationships Generally speaking, customers who develop a long-term relationship with your company will look to you first when they need products and services. But developing such loyalty takes time and more than a little business savvy. January 2008 - Avoid the hazards of rapid business growth Your fledgling business has been plodding along, barely keeping its head above water, then wham! A fortuitous set of circumstances or a huge contract with a strategically placed customer suddenly skyrockets your firm to the forefront of the marketplace. Super! You've finally achieved success! Or perhaps your business is headed for the graveyard. "Business Tips" are published monthly to provide useful business information. Return to this site every month for helpful suggestions on how to make your business more profitable. The information contained in this site is of a general nature and should not be acted upon in your specific situation without further details and/or professional assistance. If you would like more information on anything in "Business Tips," or if you'd like to be on our mailing list to receive other business, tax, or financial information from time to time, please contact our office. We're here to help. 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