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What Do Different Industries Spend on Marketing?

Posted by Tim Brown to Accounting, Business Advice, Budgeting, Startup Tips

There’s lots of advice out there about what companies should spend on marketing. Most commentators claim businesses should spend around 6-12% of their revenue on marketing, but it’s important to remember that’s when they’re speaking to a wider audience. If you’re trying to decide how much you should spend to generate revenue for your business, there is a lot more information you should consider.


One of the biggest factors you need to account for when setting your company’s marketing budget is your industry. Take a consumer goods company for instance. In today’s competitive digital landscape, they could spend 12% of their revenue on online advertising alone. That’s going to look much different than a transportation company who is likely to spend much less than 6% because so much of their business depends on existing relationships and campaigns.


So let’s start by taking a look at how much money marketing teams have to play with based on their industry.

5 Small Business Trends to Work Into Your 2018 Plans

Posted by Meredith Wood to Accounting, Business Advice, Business, Funding, Budgeting, Startup Tips

Small businesses must transform themselves to keep up with ever-changing technologies moving the world forward. It’s vital to their success in a competitive business landscape, and it’s also crucial to the success of the greater economy. According to the Small Business Administration, small businesses accounted for 63% of net new jobs from 1993 to 2013.


With that said, small companies can get a step ahead of the game by budgeting to take advantage of changes in their industries. Here are five small business trends that will make a splash in 2018.

3 Financial Metrics I Use to Run My Marketing Agency

Posted by Chris Hickman to Accounting, Business Advice, Budgeting, Startup Tips

No successful marketer decides to start their own agency because they love accounting. Not even the most passionate digital marketers who love getting deep into the data, like I did when I started Adficient.

What Your Budget Says About Your Business’s Priorities

Posted by Melissa Hollis to Business Advice, Budgeting, Startup Tips

When it comes to conveying what your company is passionate about, many business owners start by putting pen to paper and writing out their mission statement. Obviously, this is important. As a brand, a mission statement allows you to own your organization’s public-facing story. But aside from what you write about your commitment to your community, there’s another way you can demonstrate what your company stands for and how you plan on changing the world: Your budget.


The way you spend your business’s capital represents not just what your team values, but what you value as a leader. You want to build a budget that paints an accurate picture of how you prioritize each part of your business.

Ways to Keep a Positive Cashflow Running for Your Startup

Posted by Niraj Ranjan Rout to Accounting, Business Advice, Budgeting, Startup Tips

For a startup to survive and succeed, it needs to manage cash flow with utmost care and skill. Founders and business owners often find it challenging to maintain a steady handle on their burn rate, and this has become a common reason for many startup failures.

Even if you’ve reached profitability or raised a significant amount of capital, you can still fall short if you don’t manage to meet your overhead, payroll, and other operating expenses that keep your business afloat.

SMBs Say Hello to Receipt Matching (and Goodbye to Cluttered Shoeboxes)

Posted by Melissa Hollis to Taxes, Accounting, Business Advice, inDinero Product Updates, Budgeting, Startup Tips

Over the course of your life, you’ve probably known someone who holds on to all their receipts, no matter how old or trivial those receipts may seem. Maybe it was your grandfather and his shoebox. Maybe it’s your mother and her filing cabinet. Maybe it’s you and that overflowing desk drawer.


While the practice of saving receipts can verge on obsession, startups have good reasons to retain and organize those little scraps of paper with care. Receipts help your business keep track of expenses, so you can provide proof of purchase for any future exchanges or claims under warranty, understand what your organization is spending too much money on, reimburse employees when necessary, and, of course, deduct everything you possibly can on your taxes.

4 Secrets to Using a Premium Credit Card to Get the Most Out of Business Spending

Posted by J.R. Duren to Business Advice, Budgeting, Startup Tips

Part of your business’s success comes from leveraging whatever talent and energy you have to make your company grow. That philosophy should carry over into how you handle your credit card choices.


For business owners with buying power, luxury credit cards can be an excellent way to take advantage of an extensive list of luxury-focused travel benefits. Businesses go through multiple stages of growth and purchasing, so one of the crucial questions to ask as you consider your card options is, “When?”

 

Does Your Business Have Financial Confidence?

Posted by Tony Esposito to Investment, Accounting, Business Advice, Funding, Budgeting

Ask yourself: How confident are you in your company’s financial position? How much knowledge do you have about the transactions and activity that flow in and out of your books? Not to mention, how much faith do you have in the accuracy of your financial picture?

SMBs Double Down on Proven Tactics to Increase ROI in 2017 [Infographic]

Posted by Tracey Wallace to Business Advice, Budgeting, Startup Tips

In a recent BigCommerce survey of small to medium businesses (SMBs), 90% reported that they expect to grow in 2017. Almost half of them (48%) expect to grow more than 25%.

6 Small Business Revenue Hacks for Uncovering Hidden Cash

Posted by Meredith Wood to Accounting, Business Advice, Budgeting, Startup Tips

When you’re a small business owner, every dollar counts. If you’re new to business, then chances are your revenue stream isn’t predictable yet. You could be making $10,000 one month and $1,000 the next. Often, the line between failure and success is razor-thin, and you need to maximize every possible bit of revenue to stay afloat.

Success starts when you take charge of your finances.

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