Archive for July 29th, 2023

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3 Types of Free and Paid Services Entrepreneurs Can Leverage to Grow Their Business in 2023

One of the keys to success for any small business is maintaining a healthy bottom line. In addition to adopting sound financial practices, this can be achieved by automating or delegating time extensive processes in the areas of marketing, finance, product management, and more. In this article by The Virtual Consulting Firm, we’ll explore the best free and paid services businesses should leverage in 2023 to streamline operations and maintain a strong bottom line.

1. Project Management Services

Over the last few years, the discipline of project management has grown in prominence among businesses of all sizes. The main reason is to find the best ways to streamline business processes and reduce costs. Additionally, in the aftermath of the COVID-19 pandemic, businesses have understood the importance of adopting lean project management processes allowing them to quickly pivot in times of emergencies or market slump.

There are a host of free and paid project management tools on the market that small businesses can utilize starting today. Here are the benefits they provide:

• Serves as a centralized system used by managers and employees to track, assign and collaborate on projects.
• Generates on-demand performance reports to track the efficiency levels of an employee, team, or specific projects.
• Enables decision-makers to leverage real-time data and make prompt informed decisions regarding key business projects.

2. Business Formation Services

The business structure has a direct impact on the level of the owner’s liability towards business liens and dues in addition to its tax burden. For instance, if the business is established as a sole proprietorship, the owner bears unlimited liability and receives limited tax benefits. Given the complexity of choosing the best business structure, small business owners should take the help of experts i.e. formation services.

A formation service will provide you with guidance on the best structure suited for your business and undertake the tedious task of filing paperwork with the required authorities. Additionally, come tax season, they’ll assist in making the right deductions and helping you save as much as possible.

When it comes to small businesses, an LLC (limited liability company) is often the best option, owing to its ease of formation and tax benefits, according to Management Library. Additionally, it protects the owner’s private assets and finances from business-related risks, which helps overcome the biggest drawback of a sole proprietorship.

3. Digital Marketing Services

According to research by Smart Insights, businesses need to create a sound digital marketing strategy to be successful in 2023 and beyond. More people than ever are using the internet and interacting with brands on social media. Additionally, every year millions of new customers (predominantly young buyers) are entering the market, bringing along a change in demands and products based on their needs. Hence, digital marketing is not a one-time strategy, rather it is a constant process that needs to be studied, analyzed, and taken advantage of to drive business growth.

Understandably, not all businesses have the in-house expertise to manage the gamut of social media activities, but here’s where working with a digital marketing agency like The Virtual Consulting Firm serves as the best choice, as they can successfully manage the following projects:

• Social Media Campaigns: From organic posting to paid marketing campaigns, your agency will create a personalized content calendar in line with customer expectations to drive traffic to your store/website and make higher sales.
• Website Design and Optimization: A great design, fast load speeds and responsiveness to screen sizes is the hallmark of a great website. Meeting this parameter will allow your content to be ranked higher on SERP and generate organic brand awareness among hundreds if not thousands of customers daily.

Professionals will also know how to implement search engine optimization (SEO) strategies that will get your content out to more people. If you are managing your digital content strategy on your own, definitely look into SEO so that you can make the most out of your campaigns.

Invest Strategically to Grow

It can be challenging to expand your business, but there are great support services available that can help you. Don’t be afraid to outsource when necessary. If you are strategic about where you invest your money, you are likely to see a significant return on investment. So focus on your project management, business structure, and marketing to make 2023 your best year yet!

This article was written by a guest writer, Sally Hook of freelancingresource.com.