OUR INSIGHTS

ADVERTISING

  • Identify what you want to sell or how you want to grow

    — Sales Targets

    — Clear Sales Pitch

    — Discounts and Incentives

    — Kickbacks or incentives for referrals

  • Decide how much you want to spend

    — There are a ton of free options that only cost time

    — Paid Ads on google and social media accounts?

  • Make sure it is possible

    — Can the market sustain this?

    — Competitors? Holiday discounts? Friend & Family promotions? etc.

  • Update your website regularly to stay current

    — Make it easy for people to take advantage of your promotions

    — Provide information on new services and/or product offerings

  • Get reviews and testimonials

    — Encourage your customers, friends, families to give you 5 star reviews

    — Google, Facebook, Yelp, etc (our Sales Force service can help with this!!)

  • Stay current on your business’ social media pages

    — Posts weekly or bi-weekly to stay connected with your followers and potential new customers

    — Promote events, promotional discounts, referrals, etc.

    — Get your products and services on social media marketplace pages. Keep them up to date weekly

    — LSI has many free advertising options: partner page, partner posts to social media, Featured Business, etc.

  • Start up paid advertising

    — Paid ads on social media, craigslist, google

    — Traditional mediums: newspaper, radio, tv

    — LSI’s Sales Force: LSI will train our sales force team to sell for you!

  • Know when you hit your goal

    — Take a break and re-evaluate your goals and plans. Get ready to start again!

PROPER ACCOUNTING

  • Know what is necessary for good accounting

    — Transaction separation (don’t use your personal accounts, only the business account)

    — Categorize every transaction

    — Reconcile all transactions for every account, including cash on hand

    — Use Cloud based servers so you can access your information anywhere and don’t have to worry about losing it

    — Invoice creation and ability to take payments electronically

    — Automatic report generation including income statements and balance sheets

  • Select the accounting software that best suites your business needs

    — Spreadsheets (excel, google sheets, etc)

    — WAVE accounting (free)

    — QuickBooks, FreshBooks, etc (Paid)

  • Categorize and Reconcile your accounts

    — Monthly (weekly if you have 100 transactions/week or more)

    — Don’t allow anything extra or not accounted for

  • Send invoices for completed work

    — Allow for traditional methods of payments

    — Set up for electronic payments

  • Pay your bills on time

    — Set up online payment or AutoPay to avoid unnecessary charges

  • Track incomes and expenses based on jobs or billable activities

  • Know if you are making money