Tips every small business owner needs to know to up their business game
Posted: September 20, 2022 | Word Count: 616
Successful small businesses are the ones that remain adaptable, forward-thinking, and leverage the right resources. As we enter the fall, there’s never been a better time to explore new opportunities to take your business to the next level. Read on for a few expert tips on how to help your business venture grow.
Optimize tools to track and maximize your spending
No matter how big or small, every business owner knows they will have to spend money to make a profit. It’s important to budget for and diligently track every expense to prevent overspending. Whether it’s for travel, paying a vendor, or purchasing supplies or inventory, these expenses should be recorded and tracked. One of the best ways to do this is by acquiring a business credit card.
A business rewards card allows you to organize your expenses and earn rewards by accumulating redeemable points that can be used in the future toward travel costs. In addition, every business credit card comes with its own perks and opportunities for Cardmembers to earn more rewards. For example, new Southwest® Rapid Rewards® Performance Business Credit Cardmembers can earn 80,000 Rapid Rewards points after spending $5,000 on purchases in the first three months from account opening and 9,000 anniversary bonus points each Cardmember anniversary year.
Successful small business owners know which tools are worth incorporating into their businesses to save time (and money!). Various tools are available to help provide accounting, invoicing, and payroll services for a fraction of the cost of outsourcing the work. Others can help you build and schedule your social calendar to get the word out about your business with ease. Many of these services even offer a 30-day free trial for users to familiarize themselves with the platform and decide if they want to continue using it.
Some business credit cards even offer opportunities to earn on purchases for your business. For example, Southwest Rapid Rewards Performance Business Credit Cardmembers earn 2 points per dollar spent on social media and search engine advertising, internet, cable, and phone services.
Grow your network
Every person that you meet in a professional setting has the potential to be a customer, partner or advisor. In a world that revolves around social media, joining Facebook and LinkedIn groups that are relevant to your industry is one of the easiest ways to start building your network.
When possible, also try to identify conferences or in-person meet-ups that can connect you with other like-minded professionals or potential clients. Purchasing travel with the right credit card, like the Southwest Rapid Rewards Performance Business Credit Card, can help you maximize every trip for points toward future travel.
For example, Southwest Rapid Rewards Performance Business Credit Cardmembers can earn 4 points per $1 spent on Southwest Airlines® purchases; 3 points per $1 on Rapid Rewards hotel and car rental partner purchases; 2 points per $1 spent on local transit and commuting purchases, including rideshare services, tolls, parking lots, and parking garages. Cardmembers can also enjoy the benefit of up to $100 statement credit every 4 years for Global Entry or TSA Pre-Check and can travel more comfortably and efficiently thanks to perks like 4 Upgraded Boardings every year, when available.
As a small business owner, it can sometimes feel intimidating to incorporate new tools or strategies — but many are quick to implement and can save time and money in the long run. Now is a great time to take stock of your business and assess where some of these tips can make an impact.
Accounts subject to credit approval. Restrictions and limitations apply. Offer subject to change. Cards are issued by JPMorgan Chase Bank, N.A. Member FDIC.