The First Five Years of a Small Business

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The First Five Years of a Small Business

According to the Small Business Administration, half of all small businesses fail within their first five years of operation. There are several problems that are common to small businesses. Understanding what they are can help you navigate around them, ensuring your business prospers.

Costs. A study conducted by the National Federation of Independent Business reported  that the primary problem that business owners face is the expense of running the business and controlling costs. Add the cost of paying employees, inventory and basic overhead, and these costs can create cash flow issues for any small business owner.

Time Management. Small business often operates on a very tight budget. This means the owner is often faced with trying to manage and grow the business, while at the same time, managing every day operations. Small business can also find themselves so tied up in running the business that they don’t take time to relax, enjoying family life, hobbies or other outside activities.

Inflexibility. Sometimes small business owners get a hold of an idea and refuse to move onto something else. According to the Nevada Appeal, this is a serious issue. For small business owners to succeed, it is important for them to be willing to think like an entrepreneur and explore many different ideas, not just one. Whether to purchase software, add or remove services or move to a new location, a small business owner must remain flexible if the business is to succeed.

The bottom line.  Watch your pennies, try to maintain a work-life balance and stay open minded to new ideas. It’s not easy, of course, but if you are aware of the pitfalls, the less likely you are to find them as a barrier to success.

One idea to explore that helps manage costs and better manage your time is vCita. The vCita Web Engagement Platform works with any website and transforms a static website into an online engagement vehicle. vCita offers immediate communication channels for visitors to connect with you and your business while visiting your website. Your website converts visitors to clients 24 hours a day whenever an appointment is booked or message sent. The best part is that your clients can engage when it’s convenient for them – after dinner, when the kids are in bed asleep or anytime on the go.

The vCita Web Engagement Platform includes Online Scheduling, Invoice Templates and Online Payments. The platform is knit together with vCita’s unique Client Management software. Integrating the suite takes minutes, but the benefits are long-term. Often businesses see an immediate increase of new business opportunities with vCita.

vCita Online Scheduling offers clients personalized self-service appointment setting directly through your website. You can manage your time more efficiently as well as it syncs with virtually any calendar and is accessible on any mobile device. You get notified of every new appointment and can automate reminders to reduce no-shows. After the appointment, use the vCita Invoice Template to bill clients and offer online payments for maximum convenience. Track invoices and payments easily in the vCita dashboard.

vCita is the perfect web-to-end solution for any small business to succeed.

Check us out and register for a free trial. Visit or call 855.824.8244.

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