small business

  • Covid-19 Survival Tips & Lessons from the Small Business Community

Covid-19 Survival Tips & Lessons from the Small Business Community

If you do a search on the topic “small businesses and the coronavirus pandemic,” you’ll find there are hundreds of thousands of articles, images and videos sharing stories, providing encouragement, offering lessons learned, and supplying turnaround strategies for the small business community. Each one provides a different perspective and different nuggets of valuable advice
We, at Aepiphanni Business Consulting, not only own a small business — our entire client base are small business owners that we help become extraordinary leaders and companies. With that in mind, we would like to share our unique insight of experiencing the coronavirus pandemic on two fronts: inside our own business and how we supported our clients through their Covid-19 pandemic challenges.
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  • The Impact of Small and Medium-sized Businesses

An Economic Force – The Impact of Small and Medium-sized Businesses

In 2019, the U.S. Small Business Administration recorded a total of 30.7 million small businesses in the United States. This translates to small businesses making up 99.9% of American businesses. On the other hand, medium-sized businesses are making their own economic impact. The Government of Canada found that 21,926 of all Canadian companies (or 1.9% of Canadian firms) were medium-sized businesses.

While many may have their attention on Fortune 500 companies, these statistics prove that SMEs (Small to Mid-size Enterprises) help drive the economy of any nation forward. But what are the exact contributions of small and medium-sized enterprises? In this article, we list three specific impacts and how SMEs became an economic force to be reckoned with.

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Top Strategies for Small Businesses to Streamline their Cash Flow

Sure, there are a myriad of different financial tools and metrics you can use to monitor and evaluate your business and keep it on track. One of the most important is your operating cash flow. A lot of businesses use their cash flow data as a primary means of analyzing how well or poorly the company is performing. Moreover, managing your cash flow can also help you discover different trends and patterns in the overall results, which allows entrepreneurs to address crucial business shortcomings or capitalize on its strengths.

Let’s look at some sure-fire strategies small businesses can use to improve their cash flow.

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Amazon Storefronts – Amazon’s Online Store for the Small Business | Extraordinary Business

Amazon, the second company to hit a $1 trillion market cap (among other things), has launched an online store for small businesses. While critics of Amazon often call out the eCommerce giant for out pricing small scale businesses, this initiative provides a different narrative.

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4 Ways to Drive Innovation in Your Small Business | Extraordinary Business

Innovation is always a good thing in business. For smaller businesses, it is even more important. With the right innovation, you can outsmart bigger competitors while achieving sustainable growth. Innovation has helped countless small businesses move beyond their struggling phase. Let’s take a look at 4 ways you can drive innovation in your small business.
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4 Common Mistakes Entrepreneurs Make and How to Avoid Them | Extraordinary Business

Starting your own small business that stands out from the crowd is a huge challenge – but armed with the knowledge to avoid the most common faux pas made by your peers, it’s entirely possible for you and your business to emerge from the five-years of hard work with positive financial prospects. To discover the major mistakes that many entrepreneurs make – and how you can avoid them – keep reading!
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Change Management Models for Small Businesses | Extraordinary Business

change management
There are several recognized models for change management. Each model has its benefits and its sacrifices. Each model can, in effect, be tailored to a business and its leadership as indicated by Grant Shaw in his article 4 Change Management Models for Your Small Business. Some models have value as a communication tool to choreograph large-scale organizational change. This is useful during business process re-design/restructuring or if a company is re-branding. Others have value as an outline to structure continuous or targeted changes that happen on a much smaller scale. An example would be transforming the function of a specific department within a larger company.
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How do Entrepreneurial Businesses Harness Change? | Extraordinary Business

change
There is a basic principle of change management that applies to both large and small companies – some people will embrace change while others will resist it. When faced with change, small business owners have the added pressure of having limited resources which means that making good decisions about investing in change is critical. There is not much room to make poor strategic decisions when managing any small business, let alone when purposefully making a change within the company. Quite often, change management in small businesses is unsuccessful because there is a lack of communication and follow through with a change management plan, according to Robert Half, a specialized staffing firm. There are several tips that will help small businesses harness change so that they can get a competitive advantage in their market.
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