Category: Small Business

Volume 9 03.09.2023

Posted on by Biznezz Hub Consultancy in Accounting, Accounts Receivable management, Bookkkeeping, Business management, Growth Mindset, Revenue Management, Small Business, Uncategorized

Small business: SEWING / CRAFTING

Are you passionate about sewing and crafting? Looking to turn your hobby into a thriving small business? You’re in the right place! We’re here to help you create a successful venture in the world of sewing and crafting.

With a combination of creativity, dedication, and the right tools, you can transform your love for sewing and crafting into a profitable enterprise. Whether you’re interested in creating custom garments, handmade accessories, or unique home decor items, there’s a market waiting to embrace your talents.

From building a brand to marketing your products, we’ll guide you through each step of the journey. Discover valuable insights on sourcing materials, pricing strategies, and setting up an online presence. Unleash your creativity, nurture your passion, and embark on an exciting entrepreneurial venture.

When starting a business, it is important to consider the following key aspects:

  1. Identify your target audience: Find out who would be interested in buying your products or services by asking friends, family, and neighbors for their opinions (free reviews).
  2. Ensure profitability: Calculate the costs of producing your product or offering your service to see if it can generate enough profit to sustain your business. Look for tools, equipment, or free software you already have at home that can be utilized to minimize costs.
  3. Secure funding: Make sure you have enough money or access to capital to cover the initial expenses of starting your business. Estimate the costs involved in launching your small business after considering points 1 and 2.
Starting a small business in sewing and crafting

Don’t hesitate any longer — let’s get started on your sewing and crafting business success story today!

Starting small business in sewing and crafting

Let us know how your business venture is going and even these blogs are helpfull and user friendly

Vol.6 NEWSLETTER 02/04/2023

Posted on by Biznezz Hub Consultancy in Accounting, Accounts Receivable management, Affiliate Marketing, Affirmation, Bookkkeeping, Business management, Digital Marketing, Growth Mindset, life, Revenue Management, Small Business, Technology, Uncategorized

Bookkeeping for all content creators as small business

Bookkeeping for all content creators as small business

As a content creator, you are essentially running a small business, and bookkeeping is a critical aspect of managing your finances. Here are some tips to help you with bookkeeping as a content creator:

  1. Separate personal and business finances: It’s essential to keep your personal and business finances separate. You can open a separate bank account and credit card for your business transactions. This makes it easier to track your income and expenses and helps you stay organized.
  2. Track your income and expenses: Keep track of all the money coming in and going out of your business. This includes payments from clients, subscription fees, advertising revenue, and any expenses you incur, such as equipment, software, and website hosting.
  3. Use accounting software: Accounting software such as QuickBooks or FreshBooks can help you keep track of your finances and generate financial reports. These reports can help you track your income, expenses, and profits, and make informed business decisions.
  4. Set aside money for taxes: As a small business owner, you will be responsible for paying taxes. It’s important to set aside a portion of your income for taxes to avoid any surprises at tax time.
  5. Hire a professional if necessary: If bookkeeping is not your strong suit or you don’t have the time to manage it yourself, consider hiring a professional bookkeeper or accountant to help you manage your finances.

Content creators incur a variety of expenses and receive several types of income. Here are some examples:

Expenses:

  1. Equipment: Cameras, microphones, lighting, and other production equipment.
  2. Software and tools: Editing software, website hosting, social media scheduling tools, and other software necessary for content creation.
  3. Internet and phone bills: Monthly bills for internet access and phone services used for business purposes.
  4. Travel expenses: Costs associated with traveling for content creation, such as transportation, lodging, and meals.
  5. Professional development: Fees for courses, training, and conferences related to content creation.

Who are your clients/customers

  • Followers
  • Subscribers
  • Donators: Online viewers, who pay in the form of donating
  • TikTok viewers /attendees who gift you for your content or live shows
  • Viewers, purchasing through clicking on your affiliate links.
  • Potential clients: Submitting likes, on your social accounts.

Income:

  1. Ad revenue: Money earned from ads displayed on your website or YouTube channel.
  2. Sponsorships and partnerships: Payment for sponsored content or collaborations with brands.
  3. Affiliate marketing: Commission earned by promoting other companies’ products or services and earning a percentage of the sale.
  4. Subscription services: Income earned from paid subscription services or membership programs.
  5. Sales of digital products: Income earned from selling digital products such as e-books, courses, or music downloads.

These are just a few examples of the expenses and income that content creators may incur. The specific expenses and income will depend on the type of content created, the content creator’s business model, and their marketing strategies. It’s important for content creators to keep accurate records of all their expenses and income to properly manage their finances and maximize their profits.

Biznezz Hub Consultancy

Here at Biznezz Hub Consultancy, we understand, that things can get very overwhelming sometimes. We pride ourselves in matching our services to your business needs. Check out our website http://www.biznezzhub.com

We are not your traditional bookkeepers; we keep ourselves relevant to the micro and macro economy in order to better understand our clients’ needs.

Where can you find us?

http://www.biznezzhub.com

Does the saying “I don’t need a bookkeeper, I know all my customers and who owes me from memory” sound familiar?

Posted on by Biznezz Hub Consultancy in Accounting, Bookkkeeping, Business management, Growth Mindset, Small Business

Does the saying ” I don’t need a bookkeeper; I know all my customers and who owes me from memory” sound familiar? Yeah, right unless you’re Superman.

Month in and out you struggle, you make a lot of sales, oh so you thought because the numbers do not add up, plus there is your vendors or suppliers or partners, and they surely keep book on what you owe them, but hey you work from memory and don’t need a bookkeeper.

Then there is your stock or inventory, that you thought you’re getting at a good price for the quality, but it turned out, your profit margin is too low, and does not include deliveries and no insurance on it not to forget you have not increased your prices in a while, during various of economic changes, such as increase in inflation, increase in petrol or gas just to name a few. All this is happening yet you don’t need a bookkeeper, you work from memory.

Every month, you wonder what I am missing? What am I doing wrong? I thought we had a good month? According to your memory all your customers paid you? I mean who is going to call you and say “you forgot to come and fetch your money for goods sold or services rendered” Everyone is looking for a freebie. Do freebies exist?

Photo by RODNAE Productions on Pexels.com

Then there are the consumer trends that are changing at a rapid rate and you are still old school, bold move. The world is running on technology like an oiled machine but you feel what worked five years ago will still work in an ever-changing, high demand, competitive environment. No wonder you feel like Superman.

Now let’s get back to the bookkeeping part of your business. You don’t need a separate bank account for your business, because you know from memory what money relates to your business and what is personal money. Then you spend money that you don’t have because you thought you had a good month, lots of sales and many of your customers promised by word of mouth they will pay you at the end of the month. Some did request an invoice but you said don’t worry I got a good memory I know who owes me will not forget. Yeah, right unless you’re Superman.

We at Biznezz Hub Consultancy provide bookkeeping, accounting and business management services. We understand the needs of small business, that is why we provide easily accessible bookkeeping, accounting and business management services. We tailor our services to each client’s small business needs. Watch out for your Vol5 Newsletter coming in February 2023

You can contact us on our social media pages or carmenarnols9@gmail.com or sales@biznezzhub.com.