A quick internet search reveals several year end articles predicting good things for business owners in 2014. You want to know the best news as a small business owner? Stockpile is still (and always will be) free. Try our online inventory tool today!
In the December 2013/January 2014 issue of Inc magazine author Kimberly Weisul, herself a business owner and editor-at-large at INC, reports several factors that contribute to a rosy outlook for the coming year. The housing crisis seems to be behind us and access to credit is improving. Kiplinger (http://www.kiplinger.com/tool/business/T019-S000-kiplinger-s-economic-outlooks/) author David Payne says “Economic growth will strengthen in 2014, averaging 2.6% to 2.7% for the year, with the second half registering stronger quarterly gains than the first. The gains will come as business and consumer confidence strengthens and Europe begins to emerge from its 18-month recession, brightening overseas sales prospects.” This all sounds great and provides some really strong reasons to be optimistic, however as any small business owner knows there is always more to the story. The Washington Post (http://www.washingtonpost.com/business/on-small-business/small-businesses-outlook-for-the-new-year-somewhere-between-eh-and-blah/2013/12/31/09ef0aaa-7237-11e3-9389-09ef9944065e_story.html) cites a recent poll of small business owners that reveals “One in eight said their biggest problem heading into the new year is finding new customers and business opportunities, while many said cash flow is their number one challenge.”
This isn’t news. These are perennial challenges for any small business. There are a variety of strategies that business owners can employ to address these challenges. Sometimes the best solution isn’t the most obvious one. While it would make sense to focus on customer service and invest in new marketing strategies, often addressing another aspect of your business can actually lead to a greater impact in these areas. For example, perhaps focusing on employee retention to could lead to improved customer service because your staff and your clients are able to build a relationship over time. As you get to your know your customers better you can better anticipate their needs and wants and better predict which new direction will provide the largest gains for your company’s future. Worried about cash flow? Instead of the obvious attack on expenses, take a look at potential expenditures that could have a high payoff in the long run. There’s a reason why the expression “you’ve got to spend money to make money” endures. The best way to improve your cash flow may require a little upfront expense. OR you might try finding tools that help you save money so you have the funds necessary to grow. Stockpile, the free online inventory tool from Canvus, can help save you time and money. You're welcome!
The outlook is good but the forecast isn’t without some clouds. To take advantage of the opportunities that 2014 offers small business owners need to be prepared to capitalize. For ideas on ways to do this read our previous posts on process mapping and cloud computing. If you’re ready to start making an impact on your bottom line by taking control of your inventory management process, try Stockpile today. The best part is that Stockpile is free so it can help it tackle those pesky cash flow issues as well. Just another example of how focusing on one issue can have a positive impact other areas of your business!
