5 Life-Saving Tips for Digging Your Small Business Out of Debt

It can be expensive to run a small business, especially during the first few years when you are working on building up a customer base to make the business self-sustaining. It is not uncommon to get into debt while trying to launch your business. Fortunately, there are several ways that you can dig your business out of debt.

Raise More Revenue

As a business, you have the potential to increase your bottom line by selling more products or services and adding more customers to your base. You may be able to raise some extra cash by running low-cost promotions, having a sale or selling inventory. Increased revenue is often possible when your team is more productive. Many business owners and other professionals report that working out of virtual offices makes them more productive.

Cut Overhead Costs

The best way to pay off debt is two-fold: increase revenue and cut expenses. Small business owners can significantly cut costs by decreasing the amount of money that they spend for such expenses as rent, administrative staff, phone service, IT equipment, utilities and other expenses associated with a traditional office. Virtual offices provide all of the important technology and access without all of the associated costs.

Retain Employees

If your small business has employees, it is important to select the right people for the job and to retain them. Employee turnover can cost small businesses thousands of dollars a year, which could be better applied to paying off high-interest debt. It can be difficult for small businesses to offer employees some of the coveted benefits that larger employers can, such as high salaries or comprehensive benefit packages. However, small businesses may be able to offer potential employees greater flexibility by having a virtual office. Employees often appreciate the increased flexibility virtual offices provide, along with the ability to save time and money by reducing commuting time. Additionally, virtual offices allow small business owners to connect with qualified employees who may not be geographically close to them but who are the best qualified for the position. Virtual offices allow business owners and employees to work out of these offices as much or as little as desired.

Collect Receivables More Quickly

Even though the amount of your accounts receivable can help make your balance sheet look better, money that other people owe you is not that helpful if it is not liquid. If you have customers that are constantly behind in paying you, establish an automated system to help you collect on this debt more quickly. You may be able to automate this process by using accounting software and sending invoices out of your virtual office by traditional mail or through email.

Sell Assets

You may be able to free up some much-needed cash by selling off unnecessary assets. You may have equipment that is obsolete or that you can manage without. You may have a business vehicle that is not necessary or computer equipment that you can get rid of while transitioning to a virtual office.

executive office space

The Importance of a Well Organized Office

executive office space

How much time have you wasted looking for a single document, file, email, or post-it note that you could have used to work on more productive tasks? If you’re like the average office worker, the answer is probably “Too many. “

Surveys show the average office worker loses about hour a day to disorganization. A cluttered environment contributes to wasting time and making mistakes in the workplace which can easily be avoided if some extra effort is made to keep your area neat and tidy.

 To have an efficient working environment you must maintain an organized desk or office. It takes much less time to take an hour or two a week to keep the space organized than to constantly have to keep looking for things or sorting through various forms of clutter.

Another thing to consider is what prospective clients might be thinking when they look at your workspace. They might feel you will lose an important document or not take your work so seriously. In situations where first impressions count, such as landing a new client, organization and cleanliness is something you don’t want to skimp on. Regardless of what size your office is, you want the space to reflect a certain level of professionalism that organization can offer.

Some measures you can take to get on track include organizing cables, de-cluttering and getting rid of everything you are not using and don’t need, using online calendars instead of sticky notes, labeling files and important documents so you can find them easier, archiving projects in bins or boxes when done and pre-sorting the mail as soon as you receive it so you know what to keep and throw away.

The amount of effort you put into creating and maintaining an efficient work area will pay off in the long run, allowing you to grow your business in the most efficient way possible. With an organized space, you can focus your energy on essential business tasks instead of spending time looking through piles of documents.

 

Tips to Connect More With Your Website Visitors

Website visitors have a limited amount of time to become engaged in your website. If your company’s message isn’t clear or resonate with the client, they may lose interest and move on to another company’s site that seems more inviting. Knowing a little consumer psychology might give you an edge over the competition when attracting new clients and retaining already existing ones. Below are some tips to help strengthen your connection with your website visitors.

Tell a story. Depending on what type of company you have, you might want to have a page featuring the history of your company or some personal information associated with your business. Are you using your grandmother’s secret recipe for your best selling cookies? Did you go into the travel business because of an inspiring trip you took during high school? Any information customers can relate to helps the client become more engaged and emotionally connected to your brand.

Complete product descriptions with success stories. Clients like to visit a company’s website to get more information about a product or service. In addition to a detailed and informative description, you might also want to add success stories suggesting how a product has successfully enhanced a person’s life. Consumers like to see how products or services will benefit them in the long run, especially if the customer is making a significant investment.

Replace your About Us page with a more personalized description. A company’s website usually features an About Us page letting the customer know a little background information on the company. One way to instantly appeal to your customer’s emotional connection to your organization is to give this page an element of human interest by calling it Our Story and elaborating on the company’s history, the people behind the company, or the inspiration behind the company’s purpose.

By entertaining your customers with stories that engage them and help create an interest in your products or services, customers are more likely to return and tell others about your organization.

 

Virtual Offices

Virtual Offices
There is no question that searching for a new office space can be a daunting and an
overwhelming task for any business owner. If you are not quite ready for a
traditional space, but still need some of the benefits that go along with professional
office space, then a functional and affordable option is to choose a virtual
workspace.  Alexa’s Workspaces, offers a customized solution for any of your virtual office needs, which will help you to expand and grow your business.

No matter what type or size of business you have, a virtual office offers a
number of benefits that are extremely helpful to most businesses. The majority of
amenities that we offer are the same ones that you would receive from a traditional
office space, at a fraction of the cost.
When you choose a virtual office from Alexa’s Workspaces, you will
have the ability to access your office no matter where you are as long as you have
an internet connection. This allows you to remove the restrictions that are created
by the traditional types of office space. When you take advantage of the virtual
office features that we offer then you can avoid any of the financial burden and
stress that goes along with any type of traditional office. We have the tools and
abilities that are needed to help expand your business. Some of the amenities that
you can utilize from Alexa’s Workspaces include:
• A prestigious business address;
• Services from an administrative assistant;
• Mail handling benefits;
• Services of a professional receptionist to call and forward calls;
• Access to meeting rooms and conference facilities;
• Scanning, copying and printing services.

The Benefits of Virtual Offices

There is no question that searching for a new office space can be a daunting and overwhelming task for any business owner. If you are not quite ready for a traditional space, but still need some of the benefits that go along with professional office space, then a functional and affordable option is to choose a virtual workspace. When you choose Alexa’s Workspaces, you will receive a comprehensive solution for any of your virtual office needs, which will help you to expand and grow your business.

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No matter what type or size of business that you have, a virtual office offers a number of benefits that are extremely helpful to most businesses. The majority of amenities that we offer are the same ones that you would receive from a traditional office space, at a fraction of the cost. This means that you will have the freedom that only a virtual office space can offer, while being able to access the features of a traditional office space, which are needed to grow your business.

When you choose a virtual office from Alexa’s Workspaces, you will have the ability to access your office no matter where you are as long as you have an internet connection. This allows you to remove the restrictions that are created by the traditional types of office space. When you take advantage of the virtual office features that we offer then you can avoid any of the financial burden and stress that goes along with any type of traditional office. We have the tools and abilities that are needed to help expand your business. Some of the amenities that you can utilize from Alexa’s Workspaces include:

  • A prestigious business address;
  • Services from an administrative assistant;
  • Mail handling benefits;
  • Services of a professional receptionist to call and forward calls;
  • Access to meeting rooms and conference facilities;
  • Scanning, copying and printing services.