Small businesses got some potentially unpleasant news from an unexpected source this week. Also, are you forgetting your customers every single day? This and much more in our round-up!
Small Business News of the Week
Small businesses received an unexpected update on their current state of affairs this week. According to none other than Wal-Mart, small businesses are buying fewer supplies from there and Sam’s Club. Paper, staplers, snacks, and coffee machine purchases are at an all-time low, signalling to the retail giant that small businesses aren’t in the best place right now.
According to Sam’s Club CEO Rosalind Brewer, the spending pattern indicates owners are concerned with different factors including taxes, the economy, as well as gas prices. Just as customers are closing their wallets, so are small biz owners who feel like they can’t afford to take the chance.
Is this really a bad sign for the businesses of the world? Perhaps owners are looking for alternate routes for supplies, like scouring online or even shopping local? Do you find you buy less from big stores like Sam’s Club or just spend less overall?
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Outright Community Speaks
Our users surprise us every day with questions and concerns. Here are some of the latest:
First year business taxes can be terrifying. How did you handle them your first year in business?
This user needs to deduct mileage as a sole proprietor. Paying it through Paypal lists the expense as “Uncategorized.” What to do?
Have more questions or concerns? Stop by our Outright Customer Care forum!
Outright Pro Tip: Remember Your Customers
What a weird tip, huh? Of course you remember your customers, you interact with them every day. If not through an email or Facebook post you at least see them come to your website and create an account or make a purchase. Why would you forget your customers?
But simple interaction aren’t what this tip is all about. Every day we make decisions as business owners. Quite a few, in fact. In these decisions you wan tot secure your business as a long term venture, so the tendency is to think about your longevity first. After all, if you go out of business, nobody can enjoy your products.
However, too much of this can become a problem. You start to weigh your future against every decision, which means you’ll eventually cut your customers completely out of the equation. It’s true you need to consider your own future, but the people who buy your stuff need some consideration as well.
Part of running a business is taking chances. Indeed, you wouldn’t be in business right now if you didn’t take some chances, as even opening your doors can be a hazard! Try to remember the people who help you keep those doors open throughout your day, during your hundreds of little decisions. Being careful is one thing; being overly cautious is another.
That’s it for this week’s Round-Up! Make sure to check our events calendar to see when we’re headed to your neck of the woods for a seminar on small business taxes!