Mashable #BizChats Questions and Answers

#BizChats Questions:


Q1. What factors need to be examined to determine if your business had a healthyyear? #BizChats

A1.You should know your numbers – clients, analytics, cashflow, profit/loss, info is key & compare to previous year/competitors #BizChats

A1. Also always important to compare generally to the economy, but also your industry niche against norms, trends & competitors #BizChats


Q2. What standard goals should entrepreneurs create for year two? #BizChats 

A2 Improve on year 1! More clients, better service, more efficiency, learn from your mistakes & be more focused #BizChats


Q3. When refreshing your website, key components of a consumer-friendly site should be included? #BizChats

A3 Be mobile friendly, social media enabled & linked, simple to navigate and absorb information, use videos and be succinct #BizChats


Q4. What should entrepreneurs know when it comes to the basics of funding and valuations? #BizChats 

A4. Cashflow is key, so make sure have liquidity. That kills more businesses than anything. Get funding at the right price, whether equity or loans. #BizChats

A4 Valuations depend on the goal. Unless planning to flip or get investors nice to know but much more relevant issues to focus on. #BizChats


Q5. What expectations should entrepreneurs place for their business moving into year two? #BizChats 

A5 Must aim for consolidation, growth & positive cashflow. Keep existing clients happy before all out focus on new ones. #BizChats

A5 Also be prepared to be surprised by tax obligations and plan that into your budgets #BizChats


Q6. What are key accomplishments entrepreneurs should achieve at networking events? #BizChats 

A6 Make contacts! Too many people focus on client acquisition rather than actually networking & listening. Mingle & meet everyone #BizChats


Q7. What mistakes should entrepreneurs avoid when looking to grow their business? #BizChats

A7. Trying to grow too fast. Avoid mistakes that competitors have made. Dont neglect your clients to get new ones & expand smoothly #BizChats


Q8. What final tips can you share that you wished you knew before starting your business? #BizChats 

A8. Be realistic & disciplined. Fix what’s in your control, let the rest go. Always do your best, move on and forgive your mistakes #BizChats



Happy to answer any questions, comment here and we will respond