Tammy Adams
Start a Small Business in Your Local CommunityEpisodes
Episodes of Start a Small Business in Your Local Community
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Whether you are new to the podcast or this is your last episode, we will highlight what we have been discussing over the past 30 episodes. I want you to start a new business that comes shooting strong out the gate. My goal is to save you time a
Have you come across a great opportunity to purchase an existing business? Before you buy it, make sure you dive into those business numbers. An existing business has tons of good information to help you determine if it is a good idea or not. R
Having a family business can be both a blessing and a curse. On many occasions, family members blur the line between business and personal. There are so many things that need to be discussed prior to going into business together or even hiring
Do you have your eye on a franchise that you want to buy? Buying a franchise has a whole set of things that you need to explore. We will discuss the pros and cons of buying a franchise. Many franchises would not do it again, so it is important
Once you decide to hire employees, there are some key things you need to know and do. It all starts with hiring the right people. Then you need to onboard them and train them properly. By doing so, you will help reduce the revolving door that m
There will be times in your business when you will need help. You might need to bring someone on a temporary basis. Do you make them part-time or full-time? Do you hire them at all? Letβs talk about the difference between independent contractor
New business owners are always obsessed with needing business cards or other chotskyβs to get their business going. You do not need these. However, there are things that you can do along the way that can be helpful. Letβs discuss some of them.
Contrary to what you have heard, you do not need to be on social media. However, if you do it right, it can help. Please do not get on all the different social media. Pick 1 or 2 and see what you can do. Lots of before and after pictures. But m
In todayβs internet world, you need to make sure that you can be found. When someone is looking for a business, they no longer whip out the yellow pages, they now grab their smartphone and start to search for a business that can solve their pai
Now that you are getting ready to open your new business, how will you advertise and let others know you are now in business?Β Marketing your new business shouldnβt cost you a ton of money as there are many ways to advertise your new business f
During your competition research, you started to learn about the brand of your competition. Time for you to start thinking about what your new businessβs brand will be. Keep in mind, your brand is what others tell you it is. So what do you want
Want a trick to help you grow your business? A sales log or sales journal is easy to create items that you can use to track the good, the bad, and the ugly. Track things that you want to recall in the next year or two. Track weather impacts, ad
One of the biggest reasons small businesses fail is they fail to properly pay their taxes. You must set aside money for your taxes each month. We will go over some tricks that might help. Also, make sure you remember that if you collect state o
Just because you are the new guy (or gal) in town, it doesnβt mean you need to be the cheapest out there. You need to match your prices to the value you provide. One of the reasons we have you do your competitor research is so that you can posi
Your profit and loss income statement is the best report you have for your small business. It is full of great information to help you know where your money is going and to find both opportunities as well as problem areas. Your P&L is the busin
Money flows in and out of your business via sales and costs. To help you track the flow of money through your business Iβll show you the #1 calculation you will need Sales β Cost of Goods β Expenses = Profits. Letβs discuss why this calculation
Knowing your business numbers is a key component of those that have thriving profitable businesses vs those that have mediocre businesses. Your business numbers tell the story of your business. They track the flow of money in and out of your bu
Once you start to collect money in your business, you will need to have a good solid bookkeeping system in place. It is important to know what money is coming in and where your money is going. The bookkeeping system does this for you. I highly
Should you start your business debt free, or should you take out loans? For your best success, debt free is the best way to go. This means you will grow your business through bootstrapping. Basically reinvesting money back into the business to
Should you create an LLC (limited liability company) for your business or just do a DBA (doing business as). There are reasons for both. The main one has to do with liability. But for many small businesses, you can start off as a DBA and conver
The traditional business plan is used when seeking financing, leasing space, or purchasing a franchise. Most small businesses do not need the traditional business plan but they will need something to capture all the research and planning out th
Your key to starting strong in your business is to identify the pain points you plan to solve and focusing in on your ideal customers. When you chase every customer, you end up all over the place and never create any momentum or branding in the
Time to save you time and money, do your research prior to jumping in and trying to do as you go. We already discussed in a previous episode researching your competition, now you want to research all your start-up costs, licensing, LLC vs DBA,
Research is the most crucial thing you will do in your new small business. It will save you time and money. You want to make sure that you research all your competition. Both small and large. You need to dive into what they do well, what they s
By starting a business, you are becoming a business owner. However, many small businesses owners act more like employees vs owners. Even worse, you wake up one day and realize you are making the same amount of money as you would as an employee.
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