Getting Your Small Business Out of Debt

You know what they say, “you have to spend money to make money.” ‘They,’ apparently, have never been in serious business debt. While some business debt is good, there’s a point where even good debt turns bad. That point occurs when you can no longer afford to pay what you owe. If you have far surpassed that point and are now desperate to get back into good financial standing without declaring bankruptcy or selling your business (as the majority of SMB owners do), Oasis Consulting Group offers these tips for getting your business back on track today.

Make a New Small Business Budget

According to Bench, overwhelming debt is often just disorganized income. If you struggle with business debt but cannot identify where every dollar of profit is going, your debt-paydown solution may be as simple as restructuring your budget to optimize your income.

Look at your current numbers to see if there are any places you can cut back on spending. Is there money going out that doesn’t need to? Can you free up some money by reducing expenditures in other areas? You may be surprised to learn that your found money is enough to cover your payments each month.

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Better Together: How to Improve Cross Collaboration Across Your Business

When it comes to business, you’re only as powerful as your people. And if you want to get the best out of them, it’s important to create a working environment that makes it easier for staff to pitch in and work together effectively – here’s how to get started.

Provide the Right Tools

For maximum cohesion, you need to make sure that you’re providing your employees with the right tools. The good news is that there’s a wealth of innovative software designed to help teams share files, communicate freely and better organize projects. It’s crucial that you utilize these options and encourage your team to connect to each other digitally.

As a supervisor, process mapping is an ideal aid for you and your team to keep track of each other’s progress on a particular project, helping you all to stay organized and improve efficiency. These tools are a key part of helping you to identify problem areas and ensure progress on an assignment.

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How to Start a Business for Under $10,000

Think you can’t afford to start a business? Let these tips from Oasis Consulting Group change your mind.

More than half of small businesses launched during the pandemic started with less than $10,000 in funding. These entrepreneurs didn’t apply for bank loans or woo investors to fund their startups. Instead, the vast majority relied on personal funds and family and friends to get their businesses up and running.

How can so many businesses launch with such small budgets?

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Critical Tips for Starting an Ecommerce Business That Stands the Test of Time

Starting an ecommerce business is an excellent way to take your entrepreneurship to the next level. Among other advantages, it’s cheaper than opening a brick-and-mortar store, and it provides you with more flexibility and opportunities for faster growth. But in order to be successful in the long term, you must dedicate plenty of time and energy to your venture. Below are some fundamental tips from Oasis Consulting Group for planning, launching, and growing your first online store.

Planning Your Business

Let’s start with some simple ways you can lay a firm foundation for your online store:

  • Conduct market research to identify unmet needs and see how you can make your online store stand out from the competition.
  • Develop a detailed business plan that outlines your mission, core values, target audience, product descriptions, funding needs, financial projections, and more.
  • Settle on a name for your business, and design a logo that reflects what you are offering customers.
  • Form a legal structure (i.e., LLC, corporation, partnership, etc.) that will determine your level of liability, how you pay taxes, and other critical factors.
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How to Put Together a Remote Team That Slays

There are plenty of benefits to employing a remote workforce. No matter what type or size of business you run, you can land top-notch talent from across the globe, save money, and make your operations more efficient, among other things.

But the success of your remote team will largely depend on recruiting the right people and employing effective management strategies. If you’re a female business owner on the verge of putting together a team of remote workers, check out these practical tips.

Evaluate Your Business Structure

One of the most fundamental steps of starting a business is choosing what type of business structure to set up. Even if you have an established business, it’s best practice to revisit your structure from time to time to ensure it is suiting the needs of your company.

If you’re planning to put together a remote team, consider forming an LLC. Doing so can result in various tax benefits, limited liability, and many other perks. Also, think about setting up a “doing business as” for your business. This will allow you to sell products or services under a different name, among other things.

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Hiring a Freelance Designer: What Entrepreneurs Need to Know

Designing and developing a website or app is tedious work. It requires extensive knowledge of UX, design, and code. While hiring an in-house developer might seem like the best course of action, many small businesses cannot afford to employ such a developer full-time. Therefore, entrepreneurs should consider hiring an independent contractor or freelancer.

There are plenty of platforms on which you can find skilled app designers and developers. But what do you need to know in order to hire the right person for your job?

Here’s a primer on hiring a freelance designer or developer.

Know your business

As the saying goes: you have to know where you are to know where you’re going. Before you start the hunt for a web designer, you must first look at your own business. Who are you? What do you do? What sets you apart from the competition? The answer to these questions will dictate how you start your search.

Think of it this way: you’re selling yourself to a freelancer just as much as they’re selling themselves to you. In order to create a compelling partnership, you must present a knowledgeable, stable front.

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Small Business Management Tips for Growth-Minded Entrepreneurs

Give your business a boost with help from Oasis Consulting Group. Schedule a consult today!

Maintaining a growth mindset is essential for transforming your one-person startup into a thriving business. Focusing on the growth of your business will help you land more customers, expand your market, and optimize your business model to better align with your audience. But finding the time to grow your business can be challenging. There’s just so much to get done every day! Keep reading to learn how you can free up your time and save yourself from a few headaches as you scale your business.

First, make sure you understand the legal implications of making changes to your business. If you change your business address, name, or structure, you will need to report this in your annual report. Don’t neglect this step! Failing to file your annual report could leave you open to state fees or penalties.

Get Comfortable Outsourcing and Delegating

Knowing when to outsource and delegate work is one of the most important business skills you can have. By handing some of your responsibilities off to someone else, you will have more time for business projects that set that stage for growth. Delegation doesn’t have to be expensive. Zapier recommends delegating within your team before you outsource to freelancers. Using automation software can also help you save time without hiring new employees or paying experts to take on your work.

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The 5-Step Career Change Roadmap

Maybe you don’t feel truly fulfilled in your current job, or maybe you don’t think that you’ll have more chances for upward advancement in your field. Perhaps you’re even wondering if you would be happier as a business owner than an employee.

Embarking on a career change for the sake of pursuing your passion can be exciting! Starting your own business can go smoothly with guidance from Oasis Consulting Group, and whether you want to become an entrepreneur or find a job in a new industry, these tips will help you chart a course for your career change.

Schedule Informational Interviews

Are you looking to make a career transition into a new field? To figure out which skills you’ll need to master or certifications you’ll have to earn, you can schedule informational interviews with professionals who already work in your target industry. Indeed recommends coming up with a list of in-depth questions before the interview and rehearsing them in advance. Make sure to thank your interviewee after your conversation!

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This Is How You Can Be More Productive When Working from Home (Without Working at Home)

While studies suggest that working from home makes staff more productive, most parents likely agree that the opposite is true. Kids can be a significant distraction, and so can household tasks and to-do lists. One smart way to get more done is by setting up a temporary home office in a vacation home. Setting up your remote home office just takes a bit of know-how and preparation.

Maintain the Office Mindset

Finding a distraction-free workspace that can keep you focused and productive is essential.

Panicked About Working from Home? Here’s How to Do It Right

Coronavirus: How to Work from Home Productively

10 Best Business Apps for Entrepreneurs in 2020

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Summer Reading Material That Makes Good Business Leaders Great

For a deeper dive into developing and advancing your business, connect with Oasis Consulting Group. We offer a variety of solutions to help businesses stay on the path to success. Contact us today!

Summer is the ideal time to dive into a good book. You can sit in the sun and enjoy the fresh air, whether you’re on your lunch break or enjoying a quick getaway to your own backyard.

While you’re enjoying your time off, why not take the opportunity to read something that helps you to grow as a business leader? Leaders set the tone for organizational culture, influence change, and directly affect morale. That can sound like a heavy load to bear, but the following titles will ease you into positive growth in both your personal and professional life.

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