13 Free Online Educational Resources for Business Owners

A small business owner wears many hats. Often, they are responsible for finding business, customer service, sales, advertising, and bookkeeping. This is in addition to the duties surrounding the actual service or product the business provides.

There are many resources available on the internet to help you wear your many hats with more confidence. Here are some of the most useful courses, websites, and other resources you can access now.

1. The University of the People

The University of the People is an online, fully accredited university, based in the United States. They offer tuition-free associate and bachelor degrees in Business Administration, Computer Science, and Health Science.

2. Coursera

One of the greatest bastions of self-directed education, Coursera offers instruction in on a variety of topics. Learn how to market yourself, and improve your personal brand. Take a class on bookkeeping or accounting. Or, sharpen and expand your marketable skills.

3. Open Culture

Open Culture bills itself as a repository of free cultural and educational resources found on the internet. Their list of videos, courses, and audio files, related to many different aspects of business management, will keep you busy for days.

4. Small Business Administration

The Small Business Administration should be the first stop for every self-employed entrepreneur. Their website offers free courses, downloads, and videos to help you on every step of your path. Learn how to write a business plan, find funding, do market research, and so much more. The SBA also offers a mentoring program for new small business owners.

5. Free Management Library

If you want the knowledge that comes with participating in an MBA level business program, but don’t want the expense, the Free Nonprofit Micro-eMBA is for you. You get access to all the lectures, readings, and assignments that you would in a full university course. But you get to do the work at your own pace, and all for free.

6. iTunesU

The iTunes app gives you access to hours of podcasts. Many prestigious universities and schools have partnered with Apple to bring you audio and visual files straight from the halls of Ivy League business schools. Enjoy top notch instruction from schools like Stanford, Harvard, and UC Berkeley.

7. Udacity

Udacity is one of the newer faces in online self-directed education. Their courses concentrate on web and computer technologies. Take one of their free courses, or invest in one of their paid offerings. If your business is web or computer based, their offerings can help you find new services and products to help grow your business.

8. MIT OpenCourseWare

Best known as the gathering place for academic elite to explore engineering, science, and other futuristic technologies, MIT offers many past lecture courses for your personal development. They offer courses that cover many topics, including classes in business and entrepreneurship.

9. edX

Another new website catering to the self-educated crowd, edX offers a variety of courses that a small business owner or entrepreneur will find indispensable. They also offer certifications that prove you put in the work. Their MicroMasters program will have you feeling like an expert in no time.

10. Code Academy

Computer technology is the future. If you find your computer programming skills are holding you back, look at the courses offered by Code Academy. Their short, interactive tutorials and lessons will get you up to speed with what you need to know to tackle lucrative online markets with confidence.

11. HubSpot Academy

This one is for all you keyboard warriors! If you are attempting to carve a slice of the internet marketing pie for yourself, this is the site for you. You can work towards a certification in inbound marketing, email marketing, inbound sales, content marketing, and many other offerings. Most courses are free.

12. TED Talks

Make this your one-stop source for information, entertainment, and inspiration. TED talks cover the whole fabric of life, from personal stories to motivate to advant garde and unusual instructions and solutions.

13. ALISON Diploma in Social Media Marketing

If you want a quick yet thorough guide to effective social media marketing, the diploma in Social Media Marketing might be what you need. This free course will take you from social media newbie to media marketing master in under 20 hours.

5 Tips Small Businesses Can Take Away From The Tiny House Movement

What on earth could small businesses learn from the tiny house movement if your industry is unrelated? It comes as no surprise that the growth, mission, popularity and purpose of the tiny house movement have grown over the past decade. People are joining this movement for financial freedom, environmental and leisure enjoyment. These owners reduce skyrocketing maintenance costs and living expenses that come from soaring mortgage payments of capacious houses. This movement also frees up more time to spend with family and travel.

Over the past decade, we have seen the increase in restructuring, downsizing and corporate dismantling by many large firms. According to the U.S. Small Business Administration, 99.7 percent of all employer firms are small businesses. While this percentage is an impressive number, there are some great tips many small businesses can take away from the tiny house movement.

  • Compact and mobile: Owners of tiny houses downsize to reduce the overabundance of clutter, high mortgage payments, and freedom to do more things they want to engage in. They have the capability of hitching their home on the back of a vehicle and can save money on hotel costs when traveling. Depending on your type of business, with the ease and digitization of many applications and smart devices, you can mobilize your business and take it anywhere. Even if you relocate, your business can be just as portable. Small businesses may be compact in scale, but can be substantial in their return on investment.
  • Energy and cost-efficient: Tiny house owners save money by lower operating costs, energy usage, and maintenance costs. You will find innovative ways to curb your budget in certain areas that will free up money for other important business investments to grow your business. Small businesses may not use up as much energy and power as larger organizations. You can operate more efficiently as well as effectively.
  • Environmentally conscious and sustainable: Tiny houses may be built using environmentally friendly and repurposed materials. They are built to last but are as unique and aesthetically appealing as the details in a larger home. Small businesses can apply similar eco-friendly elements and recycled supplies to their organization. Make a statement with personalized and customized brand installations on a smaller scale, but with great innovative curb appeal.
  • Technological advantages: Technology is not as big and bulky as it once was. Tiny houses can embody the same level of digitization as larger homes, just on a smaller scale. At one time, big businesses had the upper-hand with harnessing more advanced applications in technology. Nowadays, not only is technology more advanced and constantly evolving, many elements are far more affordable than they’ve ever been.
  • Innovative: While tiny house living is not a new phenomenon it is increasing in popularity. The idea of living a quality life on a small-scale pushes us to new levels of residential creativity. We are inspired to try something new, creative, and innovative that will make us stellar in our industry. Since many quality products and services are more affordable and reliable, small businesses can make quality purchases and outsource services that will save on equipment and personnel budgets.

18 Easy Tips to Start Your Business

Blueprint to starting a business -from ideas to implementation.

Starting a business, where do I begin? Information overload. I’ve complied what I’ve learned over the last 8 years of being on the internet.

    1. Write down a list of services in your area that could be filled.
    1. Write down a list of what your hobbies, interests are.
    1. Research and see if there is a need for the service. Check if there is competition. If there is, see if you can do something easier/better/different. Is there a problem you can solve for your customers? In our area, I would love a delivery place that offered healthy foods such as good old-fashioned green beans with a hamburger instead of fries. Research a need in your area and see if you can fill it. Research the laws in your state. If you’re thinking of starting a bakery, check with your local health inspector to find out what is allowed. If you’re thinking of running a business out of your home and will have customers pick up orders, make sure and check with your local business zones. Some areas may not allow excessive traffic, it’s best to do your research.
    1. Once you’ve decided what you want to do, research the business name and make sure it’s available. You’ll need to register it with the state. Most states allow you to do this online for a minimal fee.
    1. Taxes- get legal. If you’re selling a product, see if you need to collect state sales tax. In my state, I collect taxes on products purchased in my state only and then forward to the Department of Revenue once a year.
    1. Buy a domain name with your business name. 1and1.com and GoDaddy offer domains. This usually costs less than $10 for a year.
    1. Hosting-ask friends and family for referrals. I love my host. Uptime is very important as well as response time. I host with a smart entrepreneur who owns her own servers and monitors them regularly. If there is a problem or I have a question, I know that she is one email or phone call away. I don’t get referred to another person for another issue.
    1. Create a website. There are tons of ways to do this. There are many templates you can find, both paid and free. I’ve used both, plus created mine from scratch as well as paid to have my website created from scratch.
    1. Shopping cart-How are you going to sell your product/service? There are as many shopping carts out there as there are ways to start a business. A free shopping cart that is easy to use is Mals-e. It integrates easily with Paypal.com. PayPal also has their own shopping cart and buy now buttons. When considering a shopping cart, look at the features that you are going to need. Are you selling 20,000 different products? If so you’ll need a shopping cart that lets you use Excel or other programs to upload information. If you’re selling 10 or even 50 items then Mals-e will probably work for you. Mals-e creates a HTML button to insert into your page. The customer is taken to a secure form where they input their payment information.
    1. Are you secure? If you will be accepting credit cards, you will need to be certified PCI compliant for credit cards. Some shopping carts take care of this for you. I currently use Ultracart and they offer PCI compliance with their cart. I have a SSL certificate that I pay a yearly fee for. To get the certificate, I had to prove who I was and get it verified. This protects both you and your customer.
    1. Learn Search Engine Optimization (SEO)-Learn it and keep learning it. This is how you get the best search engine results, which can mean the difference between your business making a profit or losing money. If your website is optimized correctly Google and other search engines will find you and send traffic to your website, resulting in more sales. Cricket’s search engine optimization class is the best and it’s free!
    1. Now that your website is up and running and you have a working shopping cart, it’s time to advertise. When you built your website you used keywords that others would find you with, right? It’s important to understand that just because you have a website up and running, it doesn’t mean customers will magically find you. There are many new websites going up every day so yours has to stand out. You can start by adding original, unique content using your keywords. To find your keywords, use a keyword finder. Google has a free one. Another way is to brainstorm. What would you type into Google to find you? Who needs your services? Who is your target market? Where can you find them?
    1. Accounting- set up a method to keep track of sales and expenses. It doesn’t have to be complicated. It can be as simple as an excel spreadsheet or even old-fashioned pen and paper. QuickBooks is a popular program that is easy to set up and maintain, just do it from the beginning or you’ll spend time backtracking to put information in.
    1. Marketing plan-Create a map of where you’re going and how you are going to reach your goal Get your free business marketing plan workbook.
    1. Ideas- Keep track of all your ideas. I write them down and put them in my folder of ideas that could be implemented with time and money.
    1. Have a support system. I have a fabulous group of women who have their own specialties. I’ve learned so much from them. When I’m having a bad day I can go to them and vent. It’s extremely important to have a support system in place. Realize that you can do this but it will be hard work, long hours and little pay up front.
    1. Work, Love and Enjoy- My best advice comes from Kay Green, work your business like a business every day. Set up a business schedule and stick to it. Work on your business every day. My friend and mentor taught me this. She went from one product to having a storefront and being a leader in child safety and baby products, all within less than 10 years..
  1. Read these tips, make notes and read it again. Remember that although this is step by step, it can be accomplished by doing more than one thing at once. When you’re an entrepreneur you will wear many hats. If there’s something you don’t know, reach out to your network and ask for help.

8 Tips for Starting An Event Planning Business

Whether you’ve been planning events for family and friends or just for fun. If you are ready to start planning events and get paid for it, these strategies will get you started the right way. Turn your passion into profit with the most important steps you’ll need to be successful.

1. Research your market

You will need to do some research before taking the big plunge into business. Conducting your market research is an orderly way of learning about the people who will be buying from you. Essentially will need to uncover if there’s demand for your service, how much and for what areas. Market research will virtually cost you nothing with access to the internet and a computer.

2. Create a Business Plan

A business plan is a written description of your business future. It summarizes what you plan to do and how you plan to do it. A business plan should never be skipped as it will provide you with the most detailed guide for setting out your future business goals and being able to track if they are being achieved.

3. Register your business

It is important to register your business and secure your business name legally to make your business operations official. This is an important step for setting yourself up as a serious, trustworthy and professional service provider. This is also the time to think about what type of business structure you would like to have. Will this be a sole proprietorship or will you be working with a partner? These are just some questions to think about as you go about registering your business.

4. Setup your business structures

It is highly recommended that you put essential business structures in place before taking on any event planning clients. These include naming your business, obtaining event insurance, setting up a business bank account and speaking with a lawyer to ensure that your contracts and other business documents are suitable for your business.

5. Establish your event planning fee structure

Pricing is a struggle for most new event planners, so if you do not have this figured out you are not alone. Determining your pricing structure, particularly when you are new can be a rather difficult task. When I first started planning events it was mainly for family and friends and I charged $0, not even for supplies!. When I started planning events for paying clients I was even more clueless as to what my pricing structure should be, and I would seriously undercharge for my services in an effort to not lose out on potential clients. You can avoid this by tracking your cost, the amount of time it takes you to plan an event and your desired hourly wage to determine the sweet spot for your prices.

6. Enrol in an event planning course/program

The field of Event Planning has become more established as a professional career, it has also become more competitive for event planners as a result. In the past, it was never required that event planners have both event planning education and design skills. This has changed. Event planners are now expected to possess a basic level of skill, experience, and education to be competitive in the industry. This means that you will need to have an impressive portfolio as well as professional development courses to prove your skills and expertise. Search for courses that can improve your skills and enroll in them. Even better if they offer a certificate of completion to prove your newly acquired knowledge.

7. Volunteer to gain experience

Knowing what to do is the first step, but knowing how to do it is the second. Volunteering provides you with the skills and experience you need to impress your clients and build trust. This is a great way to improve your portfolio when you are new to the industry without experience. Check out your local non-profit organizations and offer your services for free to get started.

8. Promote your event planning business

Once you’ve written your business plan and know what to charge for your services, the next step is to develop your business branding materials and begin marketing your services. A brand identity such as a logo, website, and business card will leave an impression in the minds of potential customers!

5 New Technologies for Small Business Owners

Small businesses are sometimes the slowest to adapt to emerging trends. Yet, enterprises that are quick to take advantage of new technologies are often the most successful. Here are 5 new technologies that will change the way we do business:

1. Mobile Payments

Credit card machines are omnipresent, but mobile transactions are the payment models of the future. A litany of mobile-based payment solutions has already flooded the market. A few taps of a smart-phone screen is all it takes to make a payment, reverse a transaction, or receive an automated invoice. Experts predict that mobile transactions will be worth more than $250 billion this year. Many businesses are already making a massive push towards the adoption of this user-friendly technology.

2. Wireless Conferencing

Meetings are where strategies are discussed, progress is evaluated, and partnerships are forged. Meeting rooms with clunky video equipment, wires, and connectors splayed across the table are rapidly becoming a thing of the past. Solutions such as Google’s Chromecast and Apple’s Airplay may be familiar to some business owners. Wireless conferencing technology makes connecting, collaborating, and sharing faster and easier and saves time and money. Newer technology is going beyond simply sharing presentations and allowing team members to interact in real-time with holographic tele-presence.

3. Embedded Communication

In the future, apps, websites, and ATMs are set to feature embedded communication capabilities. This technology allows customers to chat with service representatives instantly in real-time. An increasing number of consumers are accessing the Internet solely through their mobile devices, and the ability to connect with a customer service rep at the click of a button holds tremendous potential. Amazon has launched Mayday on its Kindle devices. Bank of America features Teller Assist on ATM machines to allow customers to video chat with a teller if there are any issues.

4. Share Economy

Airbnb and Uber are household names now. These brands define what is known as a share economy where consumers choose to borrow or share goods and services instead of purchasing them. Small businesses can take advantage of a number of opportunities offered by these models and benefit from the economies of scale. This type of collaborative consumption is a great way to boost and accelerate business plans.

5. Driverless Motor Vehicles

When ride-sharing giant Uber acquired a startup called Otto, it made headline news. Otto is a startup company developing driverless trucks. The commercial transportation industry is the backbone of many businesses, big and small. There are continuing concerns about the safety of autonomous trucks. However, the economies of scale offered by driverless vehicles are massive and could change the way we do business.

5 Steps to Retire From Your Business With Confidence

As a business owner, you’ve poured your time and energy into making your company successful. But how much thought have you given to what will happen when you relinquish this role? Sooner or later, you will step down and hand the reins to someone else. Even if you intend to work for many more years, having a well-defined path can help you develop peace of mind as you enter the next phase of life. Looking ahead allows you to anticipate future opportunities and challenges, as well as give you time to create financial contingency plans that improve your prospects down the road. Here are five ways to constructively think ahead.

1. Decide what the future looks like – for you and your business

What would you like the next chapter of your life to be? Whether it’s starting another business, dedicating time to volunteer or visiting countries on your bucket list, your goals and dreams will be in better reach if you take the time to articulate them.

Next, think about what you desire for your business when you leave the helm. If you want your company to continue after you’re gone, then it’s important to groom future leaders. A succession plan can help you avoid potential gaps in the chain of command and make your company more attractive to prospective buyers. Even if you choose to shut the doors, you’ll want to think about how to best wrap things up with vendors, customers and clients.

2. Assess your retirement savings

After you’ve identified the goals and dreams for you and your business, focus on planning the details of your retirement. You know from being your own boss that you need to have a strategy when you want to achieve specific goals. First and foremost, it’s important to have separate retirement savings as you plan a future that’s independent of the business. Pouring every dollar that you make back into your business is not a retirement plan. Even the best intentions can be thwarted if something unexpected happens.

When you have a retirement savings account in place, commit to making regular contributions. Start as early as you can and consider increasing your contribution as you get closer to retirement age. Enlist the help of a financial advisor to ensure your retirement plan is robust enough to finance your transition and maximize your retirement.

3. Calculate your retirement expenses

Knowing that your savings are enough to cover the lifestyle you want in retirement may help you step away from the business with more confidence. Project what you expect to spend, including any anticipated housing, healthcare, taxes and lifestyle expenses. If you are still years away from retirement, use your best estimate and tweak your projections as you approach your golden years. Compare your expenses to your savings to get a sense for your financial readiness.

4. Consider what income you may receive from selling or passing the reins

This is where you figure out how to optimize a key piece of your nest egg. Do you cash out in a lump sum or negotiate a sale over time? If you’ve built a business that hasn’t reached its full potential, you may be reluctant to sell and forego future profits. You might consider bringing in new leadership to manage day-to-day operations while retaining your ownership stake. If you don’t think you’ll be able to sell your business (which is sometimes the case for sole proprietors who themselves represent much of their business’s value), identify business assets that can be liquidated to generate cash on your way out.

5. Prepare for the non-financial aspects of retirement

Expect to feel some emotions over the transition. Stepping away from your business can be tough, especially if you put considerable time, effort and money into creating and growing the business. Know that it will take time for you to settle into your new life in retirement, and that’s okay. Having a plan will likely help you feel more confident about your new direction.

3 Useful Things to Consider When Starting Up a Commercial Cleaning Business

Starting a commercial cleaning business involves completing several important steps. With the low start-up costs and high demand for this type of service, there is every opportunity to build rewarding and profitable business. Here are a few things to consider in the process of getting set up:

Business plan

A major first step is to create a solid business plan. A good plan should include a detailed look at your company, the services you intend to offer, financial data like income statements and cash flow and strategies to obtain customers. Plus, it can help to provide an action plan on how you aim to achieve your profitability goals.

A well written business plan should be seen as an outline for your business success, and can be referred to in times of gaining finance or getting things accomplished. This type of plan needs the most care if hoping to use it in an effort to obtain a business loan from a bank or other lender.

Target Market

It is certain to make it easier to apply the proper strategies to get customers if you know your exact target market. Even though you intend to work in the commercial sector, you still want to break this down into something like smaller retail locations or large office complexes. By being really focused it is a lot easier to put in place the right advertising and marketing strategies.

Independent vs. Franchise

It is essential to fully research the options of running an independent or a franchise business. A major benefit of the franchise business is the ability to work with an established brand name while also having full operational and marketing support in the background. Plus, when buying into a franchise, the investment includes in-depth training to make sure you have the knowledge to be successful from the start.

A downside of this type of arrangement is higher up-front fees and ongoing monthly fees payable to the franchise owner. Also, there may be business limitations in place, such as not offering certain services and imposing advertising restrictions.

On the other hand, the independent run operation is certain to appeal to the business owner that prefers to have complete control and is more flexibility. Plus, it is possible to offer the services you want and get to keep 100% of the profits. But, it will be necessary to have a sufficient budget in place to market your commercial cleaning business to an already established market.

Laminating Tips To Consider For Ideal Results

There are plenty of benefits that come with laminating your documents. Some of these advantages include:

  • Enhancing and preserving the color and contrast of the images
  • You have professional looking documents
  • Lamination protects the documents thus they last for a long time even with frequent handling
  • The process is easy, and you achieve immediate results

Laminating tipsWhether you have a home or office laminating machine, you need to use it correctly for you to obtain perfect results. Some of the tips you need to consider include:

Use the right pouch: This seems like a no-brainer, but you will be worried by the number of people that fail to achieve perfect laminating results due to failure to use the right pouch. If you have a high-quality machine, the chances are that the unit has different pouches. For ideal results, use the right pouch for the product you are looking to laminate.

You also should place the document at the right area. To be on the safe side, leave a 2mm border around the entire document.

Properly warm up the machine: Different machines require different heating temperatures for them to work efficiently. The cool thing is that they all come with manuals from where you can refer on the right temperature to use. If you aren’t sure, check the manual and set your unit.

Properly laminate irregular surfaces: While most of the documents to be laminated come in regular shapes, there are a few that feature irregular shapes. When laminating these documents be cautious. As rule of thumb, send them through the machine twice. This is to avoid wrinkling.

Clean the machine: Just like any other unit in your home or office, you need to regularly clean the laminating machine for it to work effectively. When cleaning it, pay attention to the rollers. The best way of cleaning the unit is heating up the machine to its normal laminating temperature and then pass a non-glossy piece of paper through it as you are laminating.

Leave a seal: Once you are done laminating a document, cut it appropriately to give it a professional look. The best way of going about it is leaving a seal around the edges of the document.

Conclusion

These are tips to consider when laminating your documents. For the unit to give you the service you deserve, buy a high-quality machine. The unit will not only give you professional looking documents, but it also will last for a long time.

Explore Ideas and Concepts Before You Commit to Any Exhibition Materials

Offering appealing and exciting exhibition materials will help you to connect with your target audience. They are often enticed by visual aids, so you can’t fall short with what you put out there. When you are part of the exhibition circuit, there were be plenty of potential buyers coming your way. Never underestimate what your competitors will offer though.

With that in mind, you need to work with the best exhibitions company you can find. Evaluate your choices and select one that offers integrity, understands the values that matter to your business, and they have cutting edges concepts for you to consider. Explore the possibilities with them and don’t succumb to going with what is all too common out there.

Break the Barriers

Too often, business owners are afraid to break out of their comfort zone. They don’t want to try something riskier. Having the support and the expertise of a wonderful exhibitions company by your side though may be what you need. They can assist you with looking and the pros and cons of the various concepts. They can share with you what they recommend and why.

While you will always have the final say about what goes into production, are you less likely to be held back by doubt when you have their information to help you based your decisions upon. Your goal should be one that allows you to be a leader in the industry and to feel confident you have a powerful strategy in place for all to see.

The right exhibitions company can help you to overcome doubts, to break down those barriers, and to get results that make a different for your business. You can’t put something this important into the hands of the wrong entity though. You need to make a good choice and it all starts with discussions and carefully evaluating what you need with what they have to offer.

Share Information

Scheduling time to discuss all of it should be a good starting point. Identify a company with a strong reputation and plenty to offer. Then see what they can discuss that directly involves your needs. You don’t have to come in with a solid plan of action, you just need to show up! Jot down questions you may have so you don’t forget to ask while you visit with them.

Ask to see examples of what they offer so you can get a feel for the diversity. You need to make sure they don’t give something very similar to all their clients. You want what the exhibitions company creates for you to be detailed, customised, and not something your niche market has already seen out there over and over again.

Listen to what the exhibitions company has to say about types of offers they can provide, various forms of materials they can create, and packages they may have available. It may surprise you to discover how affordable it really is to get amazing help in this sector. With a larger company, find out if you will have a team of people to work with and if so, who is your direct link for information.

Results

You should be a big part of the final concepts that get produced, as nothing should be created without your approval. Take your time to look over the concepts they create for you and to give feedback. Ask the exhibitions company for changes and additions until it is exactly what you will be proud to display for your business. The effort involved is going to be worth it!

3 Useful Tips for Buying Wholesale Supplies

Once a retail business is in a position of getting regular sales, it is worth looking at buying in bulk from a wholesale supplier. This will give a variety of benefits including the ability to buy the low-cost stock and increase the profit margin. But, it is usually best to wait until an e-commerce business is making money, because the wholesale lots often have a minimum order amount with goods costing at least $150 of more.

Here are three useful tips to consider when buying supplies in bulk:

Compare prices

The first step to buy wholesale is to research the different online sites and compare the cost of the different items. It is great to find a site that gives heavy discounts on the goods you trade in, but it is still worth the effort to shop around to find the most competitive deals to match the needs. A further key consideration is the wholesale minimums. This relates to the volume of stock to be purchased per single order. This can vary significantly with the different wholesalers, so it is important to find something that trades in a volume that is within your budget.

Website’s legitimacy

It is essential to check a particular wholesaler is entirely legitimate before committing to make an order. Look for reviews or recommendations from other buyers. This will let you know the quality of delivery service and the goods. Only use the sites that are highly rated and get a lot of positive feedback from fellow buyers. Without doing the proper checks there is the risk of signing up a fake e-commerce site that looks fully functioning, but doesn’t actually ship goods and you lose your hard-earned cash.

Do your calculations

Before making a large order of wholesale materials, it makes sense to do your calculations to ensure you are in a position to increase your profit potential. While it can help to improve the actual profit margin, there isn’t likely to be much benefit if you are only making minimal sales. In most cases it is practical to wait for a business to make steady sales before ordering a large volume of supplies.

While some may think it is best to order in bulk goods from the start, there could be problems further down the line if they don’t sell as expected. This is certain to cause more difficulties for those who bought on credit and may have interest accumulating. Also, if buying time sensitive items like seasonal fashion, you have a further need to conduct the timely business.