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7 Tips To Fund Your Small Business on a Budget

Starting your own business can be expensive, but it doesn't have to be as costly as you think. These tips from experts in the field of small business will help you launch and grow your enterprise without breaking the bank (and going into debt).

So, consider investing in real estate or starting an online business; consider these seven tips to fund your small business on a budget.

1. Crowdfunding

Crowdfunding is a great way to fund your small business on a budget. There are many platforms out there that can help you get started. When choosing a platform, select one that is right for your business and your target audience. Also, be sure to create attractive rewards for your backers.

With some planning and effort, you can quickly raise the funds you need to start your business. There are other ways to get money besides crowdfunding, like grants, loans from family or friends, or investments from angel investors or venture capitalists.

2. Use Social Media to Attract Customers

As a small business, you may not have the budget to run television or print ads. However, you can still reach your target market through social media. Here are some tips:

  • Create a profile on each of the major social media platforms (Facebook, Twitter, Instagram, LinkedIn, and so on) and ensure that your branding is consistent across all of them.
  • Use relevant hashtags to reach potential customers searching for products or services like yours.
  • Interact with other social media users by commenting on their posts, sharing their content, and tagging them in your own.
  • Run social media contests and give away prizes that will appeal to your target market.

3. Invite Investors Online

You can find investors for your small business by pitching your business online. There are many websites and forums where entrepreneurs can connect with potential investors. When you post your pitch, include information about your business model, team, and financial needs. It would be best if you also briefly explained why you think your business is a good investment.

4. Get Professional Help

If you're not sure where to start when it comes to funding your small business, don't worry – you're not alone. Many entrepreneurs feel the same way. The good news is that you can take steps to get professional help and make the process less daunting. You might find that you'll need to do this as your company grows.

As for what you should do now, here are some tips for getting started:

  • Reach out to individuals or companies in the industry who have experience raising money for startups or projects similar to yours.
  • Reach out to incubators, accelerators, and other organizations that specialize in helping new businesses like yours succeed.
  • Look into government grants available through local, state, or federal agencies focused on small businesses.

5. Use Opportunities in Market Cycles

When it comes to funding your small business, you can do a few things to take advantage of opportunities in market cycles. First, consider using crowdfunding platforms to raise capital. This can be a great way to get started if you don't have much money to invest. Additionally, consider ways to reduce overhead costs by negotiating with suppliers or finding cheaper office space.

Finally, take advantage of low-interest rates by refinancing any loans or buying new ones.

6. Get Government Assistance

One way to fund your small business is to apply for government assistance. Many programs can help you with funding, so it's worth doing some research to see if you qualify. The Small Business Administration (SBA) is an excellent resource for finding government assistance programs. If you're looking for financing in the form of a loan or grant, this agency may be able to help. They offer loans of up to $500K and grants of up to $50K per year.

One program they offer is the Express Loans Program, which provides fixed-rate loans of up to $35K for those who want funds within 14 days or less. Another option is the Grant Assistance Program, which provides funds not exceeding $5K per year.

7. Do Something Different

One way to stand out when seeking funding for your small business is to do something different. Whether you're taking an untraditional approach to your business model or marketing your company uniquely, find something that sets you apart from the competition. This can help you get the money you need by making you more appealing to investors.

Final Thoughts

One of the most important things you can do when starting a small business is to ensure you have the funding you need to get off the ground. However, if you're working with a limited budget, this can be a challenge. Luckily, there are plenty of affordable options for funding your small startup.

Contact us today or visit our website to learn more about how we can help fund your small business. You will not regret it!

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Top 4 Ways To Crush Your Growth Marketing Goals

Growth marketing is a significant part of digital marketing, and every company has ambitions to grow its business. Use growth marketing techniques to reach out to more people with your product or service in this competitive market. These four methods will help you achieve your goals and get ahead of the competition.

4 Ways to Crush Your Growth Marketing Goals

1. Create a Growth Marketing Strategy

Marketing is no longer about the brand, but about creating a strategic direction for the business. Growth marketers are the ones who make this strategy and then use unconventional methods to achieve it. They do not simply focus on the bottom line or sales; growth marketers look at ways to improve the company's overall health. For example, if a company has set itself a target of doubling its turnover in five years, then a growth marketing strategy comes in.

Growth marketers must decide how to achieve the goal and what areas of the company need to be developed for it to happen. For example, suppose a company wants to build its website. In that case, growth marketers will first find out how the website is performing, whether it is generating leads for potential clients, and if it is easy for customers to find what they are looking for. Once they have this information, they will analyze it and devise a strategy to make the website more successful.

2. Analyze Your Audience

Growth marketers must not only be aware of their target audience, but must constantly be analyzing it. This is because the marketing world is continually changing, and customers are getting more connected, particularly with social media. It means a company can no longer get away with simply relying on colorful advertisements in newspapers or bus stops. Nowadays, companies must engage with customers directly or risk being left behind. Growth marketers need to understand what makes their target market tick and how they can use this knowledge to communicate with them effectively.

How To Analyze Your Audience

Growth marketers must conduct regular surveys among their customers to find out the issues that matter to them. There are several ways to analyze your audience. Company representatives could speak with customers face-to-face, or they could set up an email campaign in which they ask customers how satisfied they are with the company's services and products. Growth marketers can also use social media to contact their audience; for example, to ask them how comfortable they are with their experience of the company's products or services.

3. Create Content That Attracts and Nurtures Your Audience

Content is king in digital marketing. It is what gets page views for websites, generates interest for social media, and pushes traffic to your website most significantly. It builds customer relationships by creating trust and allowing them to get to know you better. The thing about using content as part of a growth marketing strategy is that it must be attractive and easily digestible for the customer. They should be something they want to share with friends and family and get them thinking. It is crucial because customers are inundated with content daily, so they need to be engaged immediately to keep their attention.

4. Embrace Viral Content Marketing

Growth marketers use viral content to spread their business's message through the internet. Viral marketing is the process of releasing something that will attract many people to your product or service. The idea is to create something that your market will want to share with their friends and family, for it to spread quickly around the web and get shared by other influential people. If you want to generate buzz surrounding your product, then viral content marketing is a great way to do so.

Growth marketing is the future of digital marketing and is the best way to get ahead in this competitive market. With the help of these four methods, you can quickly develop your growth marketing strategy and make it successful. Remember, the market changes daily, so keep updating your strategy and adapt it to this ever-evolving world. For expert advice, contact us today.

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4 Ways to Save Cash and Cut Spending as a Business Owner During a Recession

It's no secret that the economy is currently going through some tough times, which means that your business may also be feeling the effects. Staying afloat during a recession can be very challenging, especially if you're running your own business. Luckily, there are plenty of ways to reduce the financial burden and save cash as an entrepreneur, even during an economic downturn. This guide provides four simple tips that you can use to cut spending in your business and save money so you can get through this difficult time with relative ease.

Curb discretionary spending

One of the first places you can look to cut costs is your discretionary spending. This is any money you spend on non-essential items, such as entertainment, dining out, or luxury items. If you can find ways to curb your discretionary spending, you'll free up more cash that you can put towards other areas of your business.

Diversify revenue

Diversifying your revenue sources is one of the smartest things you can do as a business owner. It insulates you from market fluctuations and gives you a buffer when one sector is struggling. There are many ways to diversify revenue, but some common methods include offering new products or services, expanding into new markets, or partnering with other businesses. For example, if you own a coffee shop that primarily sells coffee during regular hours, consider opening up for breakfast service in the morning to attract more customers and increase revenues.

Look for ways to operate more efficiently

One of the best ways to cut costs during a recession is to find ways to operate your business more efficiently. This could involve automating certain processes, streamlining your supply chain, or re-evaluating your marketing strategy. By becoming more efficient, you can free up cash that can be used to keep your business afloat during tough times. The following are some strategies for operating efficiently:

  • Consider outsourcing any services that are not part of your core business. For example, if you're a graphic designer but don't need much help with customer service, consider hiring an outsourced customer service provider. Outsourcing tasks outside your core competency will allow you to focus on what you do best without wasting time and resources on things you're less experienced in.
  • Determine what's causing inefficiencies in your operations, and then develop new procedures to address these issues.
  • Build contingencies into your budget so that any unforeseen expenses can be covered without draining all of your funds. You may want to put aside 5-10% of revenue each month in order to have enough cash available when unexpected expenditures arise.
  • Negotiate with vendors about rates and contracts before committing to anything long-term. Ask them for discounts based on their current offer; you may get lucky!

Keep inventory low

When sales are down, it's tempting to try to boost them by stockpiling inventory, but that can hurt your business in the long run. Not only will you have to pay storage fees, but you'll also be stuck with products that may not sell for months or even years. Instead, keep your inventory low and only order new products when you're about to run out.

Bottom Line

A recession can be a scary time for any business owner. As companies tighten their belts and cut back on spending, what are you supposed to do? If you're struggling to make ends meet, you're definitely not alone. Take some time to assess your current situation and determine what needs to be done to get your business back on track. Whether you are a startup or have been working in the field for decades, PS Group can help increase your understanding of the situation and assist with developing effective plans. Our experienced professionals will work with you to minimize financial risk, assess your current state, and offer new opportunities at every turn. For more information, get in touch with us today.

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Eight Crucial Elements You Should Not Miss In Your Business Plan

Every business needs a business plan. Whether you are just starting out or need financial investment, or are looking to raise capital and expand your business, a good business plan is a must. A well-written business plan is not only important for your investor pitch; it can also help you articulate what it is you hope to achieve with your business-your goals, values, mission, and the company's growth trajectory.

However, most entrepreneurs, when drafting a business plan, tend to forget the key elements needed to make the plan successful. Here you will learn about the crucial elements you should not forget to make your business plan a winning and complete document.

Eight crucial components in business plans that are easily overlooked

1. Executive summary

The executive summary is the most critical and most read section of your business plan. It should be at the front of your document, but it's mostly advisable that it be the very last part you write. The summary should be brief and businesslike, probably no longer than one page. It is the space where you will present all the key elements surrounding your business.

The statement should outline the four "W" s (What, Why, Who, and Where) as well as the mission statement. Write about why you started the business, where you would like it to be in the future, why your customers will be interested in your business, why your business will succeed, and what measures you will take to get there.

2. Competitive analysis

This is a statement of the business master plan and how it relates to the competition. Most people forget to include this in their business plans, but it is one of the most important components. Strategize on how to beat your competition by first identifying the current and potential competitors, grouping the competitors according to their competitive strategies to understand what motivates them, and determining your unique value factor that makes your business different.

3. Cash flow analysis

One of the most common mistakes first-time business owners make is focusing on profits, not cash. Understanding that businesses spend cash and not profits is a piece of critical information in your business plan. Thus, it is always good to have a solid understanding of your cash flow and clearly illustrate it in a graph or table.

4. Market psychology

Your market psychology should strictly be based on logical findings and research. The market analysis proves that you know the trending ins and outs of that particular industry and the specific market you intend to enter. When you discuss the statistics and data in this section, use colored graphs and spreadsheets to showcase your insights.

You can also make a smart move and write about your customers' mindset and emotional problems and needs that your proposed product will solve.

5. Clear, measurable business goals

For your business plan to succeed, you should be able to clearly articulate your goals measurably. Instead of saying, "I want to run the most successful ice cream shop in town," which is not measurable, you can say, "I want to serve 10,000 new customers in 2022." This also makes it easier to hold yourself accountable for goals associated with a specific quantity or time frame.

6. Ask "What if?"

When developing your business plan, it makes sense to brainstorm "What if?" scenarios, especially when it comes to a company growing fast. This long-range thinking will give your investors confidence that you can be able to manage a fast-growing company, come what may. For example, what if your website traffic increased ten times, or what would be your plans if you got more orders than expected?

7. Exit strategy

To get venture capital investment, you will need to have a well-researched and detailed exit plan. Most venture capitalists or investors want to know that you are thinking about a liquidity event-how and when they can cash out of your startup. They want to see a return of ten times the initial investment. Identify your preferred exit strategy, including particular candidates for sale or merger, and time frame.

Another alternative would be to go public. All this is to show how your rate of return would be attractive to your investors.

8. Examine your document

Spelling, grammar, style, and punctuation are all important when it comes to getting your business plan on paper. This would seem like it's not a big deal to the investors, but you should be aware that they are always looking for clues about the underlying business and its bosses when perusing the business plan.

Before you submit your plan, go through every single line personally. You can also have a friend or business associate proofread it to avoid any minor mistakes. A small typo can create a negative impression on your investor's minds about your professionalism and startup idea.

Writing a strong business plan can feel like a daunting task, but with the right resources, research, and help, you can implement it in the right way. You should also remember that a business plan is a useful roadmap that will help you stay on track based on your business objectives and goals.

At PS Group, our mission is to guide startups and established companies through their journey to success focusing on the generation of revenue, margin, and reach. Our skill sets are also managed to guarantee that your business is ready to adopt our projects. Contact us for further questions and to learn more.

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Why Small Businesses Fail: How to Avoid the Most Common Pitfalls of Start-ups

Success-minded entrepreneurs drive themselves and their companies forward through optimism, diligent planning, and strategic action. However, although having the right mindset is critical for getting a small business off the ground, it's also important to know the most common causes of small business failure. After all, if you don't know the pitfalls and stumbling-blocks that frequently lead to disaster, how can you avoid them? With only 35 percent of small businesses surviving past the 10-year mark, you must take steps now to ensure your longevity. Read on to find out exactly why small businesses fail and how you can keep yours afloat.

Not Having a Quality Website and a Solid Online Presence

No matter what industry you're entering, it's important to have an online presence. Most consumers are using the web to find and compare businesses, inform their purchasing decisions, and complete transactions. Even if you have ambitious, outbound marketing campaigns that include mailers, fliers, signage, and other elements, you'll need the web to effectively reach the largest portion of your available market. If you aren't leveraging the web to build your commercial reputation, find and convert prospects, and educate your market, you're guaranteed to miss out. Companies that lack websites, active social media profiles, and other online elements constantly miss out to their competitors.

Insufficient Planning

Good ideas can only go so far without adequate planning. The web has it possible for just about anyone to start a business. Online sales platforms and marketing tools allow new business owners to sidestep a number of start-up costs that were once unavoidable. It's no longer necessary to have brick-and-mortar headquarters for businesses. With just a few clicks, you can equip your new company with mobile payment processing tools and other essentials that allow you to work out of your home, your truck, or any other location of your choosing.

However, the ease with which a new business can be started doesn't negate the need for good business planning. Of the nearly 65 percent of businesses that fail before they've completed their first full decade of operation, most lack solid business plans. If you don't know how to write a business plan, you should get help before seeking funding, spending money, or opening your doors. Having a well-mapped plan for your business will make it possible to get funding from serious investors. It will also allow you to anticipate funding, effectively manage your overhead costs and manpower, and more. Your business plan should include:

  • A detailed description of your business and its goals
  • Manpower needs
  • Marketing and promotions plans
  • Competitive analysis
  • Market analysis

It should also have an in-depth breakdown of your business finances including a sales and expense analysis, cash flow analysis, income, and more. If your business plan is missing these or any other essential elements, critical oversights could leave you scrambling to stay afloat early-on.

Expanding Too Quickly or Too Much

Small amounts of success early-on can cause new business owners to confidently expand their operations long before the time when they can safely and comfortably do so has arrived. Rapid expansion can be devastating for a new company that isn't ready for it. Moreover, what works well in one location isn't guaranteed to work well for another. The business plan for an initial establishment cannot be recycled for a brand new one. Costs, competition, and many other factors will invariably change. Each new location will place stress on the first one. Early success is not a measurement of readiness for expansion.

Choosing the Wrong Location for Your Business

Choosing the right location is key for a number of reasons. If you'll be running a brick-and-mortar establishment, you want your chosen area to have a nice flow of traffic, access to adequate parking, and sufficient safety for ensuring that people feel comfortable visiting. You also want to make sure that the traffic you're getting is both qualified to purchase what you're offering and in need of it.

Not Every Market Is a Viable One

For every product or service, there is always a finite number of people or companies that will want and need it, and that are actually qualified to buy it. Careful study of your market will reveal whether or not it is already saturated by excess competition. It will additionally show you your ideal price point for your services and products for maintaining both a competitive edge and a reasonable margin or profitability. If there are 17 coffee shops within a relatively small geographic territory, you'll need to find out if there are enough regular coffee drinkers to reliably support another one. When markets are near the saturation point but are still desirable in other ways, it may be necessary to expand your vision so that you can offer things your competitors are not. You can innovate to make your business stand out. Making sure that your market is viable before entering it is key for avoiding substantial loss and disappointment. Keep in mind that even if the product or service you intend to sell feels like an essential one to you, other consumers may not see it as so. Some companies have no viable market at all.

Not Having Enough Operating Funds

Insufficient capital is the bane of new businesses. In fact, it can drive companies to a grinding halt, undermine their efforts to build respectable reputations, and give their competitors the opportunity to step in. You cannot replenish a dwindling inventory unless you have the necessary capital. You can't upgrade payment processing platforms, expand your marketing campaigns, or even keep the lights in your brick-and-mortar establishment on unless you have the funds for doing so.

Bad Business Management

Poor management can drive a company into the ground at any stage of development. Well-established businesses fold all of the time due to poor management. However, brand new companies are especially susceptible to this pitfall. Poor management can result in:

  • Dismal customer service ratings and an unhealthy commercial reputation
  • Waste resources
  • Costly redundancies
  • An unhappy workforce and ultra-rapid employee turnovers
  • Low morale
  • General neglect

For micro-sized businesses, bad management falls entirely on the shoulders of business owners themselves. For small businesses, poor management can be attributed to bad hiring decisions. Many small business owners make the grave mistake of hiring under-qualified family members and friends when they really should be looking for the top talent in their industries. When companies fail due to bad management, lack of experience and lack of market-specific experience rank among the top reasons why.

You Had Unrealistic Expectations When Starting Your Business

Starting a brand new business won't give you more time to spend with your loved ones or more time to enjoy your favorite forms of recreation. It isn't going to make you a millionaire overnight. Success stories that laud these results are often untrue. When people do experience rapid success and still have lots of free time on their hands, they represent rare cases. Starting a successful small business will likely require you to work harder than you ever have before. However, with the right planning, adequate capital, and careful decision-making, it can provide outstanding rewards.

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Small Business Must-Haves in 2022

There are a few things that all small businesses will need to be successful in 2022. Here is a list of the top must-haves for small businesses in 2022.

1. A Strong Online Presence

A strong online presence has always been important for businesses, but in 2022, it will be essential. With more and more consumers using the internet to research products and services, businesses that don't have an online presence will be at a severe disadvantage.

Small businesses must ensure that they have a professional and informative website. They should also use social media to connect with potential customers and build relationships. Finally, they should ensure that their online listings are accurate and up-to-date.

By taking these steps, small businesses can ensure that they have a strong online presence that will help them attract new customers and grow in the years to come.

2. Excellent Customer Service

Excellent customer service has always been a key element of successful businesses, but this will be especially true in 2022. In a world where customers have more choices than ever before, those businesses that can provide a superior customer experience will be the ones that thrive.

There are several things that small businesses can do to ensure they are providing excellent customer service in 2022. First, they need to ensure that their employees are properly trained in customer service.

Secondly, they need to use technology to their advantage, using data analytics to quickly identify and resolve customer issues. Finally, they need to create a culture of customer service within their organization, making sure that everyone from the CEO down is committed to providing a positive experience for customers.

3. Quality Products or Services

As the world continues to change, so too must small businesses. What was once a successful business model may no longer be relevant, and what is popular today may be forgotten tomorrow. It is essential always to be innovating and adapting to stay ahead of the curve.

This is especially true regarding the products or services offered by a small business. To succeed in 2022 and beyond, small businesses must offer quality products or services that meet the needs of their customers.

This means staying up-to-date on industry trends and continuously improving the quality of goods or services. Small businesses can differentiate themselves from the competition by offering quality products or services and ensuring long-term success.

4. A Well-Defined Target Market

In 2022 small businesses must consider what they need to stay afloat and relevant. Perhaps one of the most important things a small business can have is a well-defined target market. With so much competition, it is more important than ever to know your ideal customer and what needs and wants they have.

By that you can tailor your products or services to meet their needs and stand out from your competitors. In addition, knowing your target market will help you craft more effective marketing campaigns and use your limited resources.

Therefore, if you want your small business to succeed in 2022, make sure you have a clear understanding of your target market.

5. Strong Branding

Strong branding will continue to be a must-have for small businesses in 2022. A strong brand will set your business apart from the competition in a world where customers have endless choices.

It will make customers choose your products or services over everyone else's. And it's what will help you build long-term relationships with customers. If you want your small business to succeed in 2022, you must focus on building a strong brand.

That means creating a unique and recognizable logo, developing a consistent look and feel for your business, and creating powerful marketing materials that show customers why your brand is the best choice. With a strong brand, you'll be able to attract new customers and keep them returning for more.

Let get Started with PS Group

Small businesses must focus on several key areas to be successful in 2022. They need to offer quality products or services, provide excellent customer service, have a well-defined target market, and build a strong brand. Small businesses can set themselves apart from the competition and ensure long-term success by focusing on these things. At PS Group, we are a technology, strategy, and investment company for the sole purpose of creating change through products, services, and people. Contact us to learn more.

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Helpdesk Software: The Ultimate Solution for Boosting Your Customer Service

73% of consumers claim that friendly customer service teams are the reason they continue to support brands. Apart from funding your start-up, one of the main evaluation criteria that your company is on the right track is customer experience. You will quickly achieve your targets when your customers are happy. Most companies fail to provide superior customer service because they are unaware of the advantages of help desk software.

What is a Help Desk Software?

It is a standard customer service tool that helps to turn support requests and issues into tickets. Agents at the help desk may monitor these tickets' status, prioritize fundamental problems, and send timely responses.

Also, some contemporary solutions even provide powerful automation features to assist you in streamlining your process and avoiding tedious manual labor. For instance, you can help potential and current clients around the clock by using chatbots to answer their questions about product prices, returns, stock availability, and other topics.

4 Reasons You Should Incorporate Help Desk Software into Your Business for Enhanced Customer Service

Customer Self-service

Making a consumer wait to speak with an agent for an answer is time-consuming and will result in discontent. Additionally, answering the same questions all day long is exhausting for the customer care representatives.

Helpdesk software may quickly and effectively overcome this obstacle by offering consumers self-service choices. A consumer could phone a bank's helpline to find his account balance. Instead, the customer can get guidance via a self-service that provides a variety of menu alternatives.

Workflows Automation

An intelligent instrument that can automate tasks is help desk software. Nowadays, the majority of clients are pretty tech-savvy and proactive. They would therefore be more than willing to complete activities alone to move more quickly toward their goals.

Using automation, you can increase productivity by focusing on other tasks and saving time. Automation is great for delegating tedious, repetitive tasks that your people must perform. By categorizing questions that most customers ask according to their specificity, complexity, and priority, you may systematize them.

A customer may occasionally receive 2-3 distinct responses from your team when you use email to manage their requests and issues. That may not only reflect poorly on your team's reputation, but it may also cast doubt on their dependability.

Thanks to technologies, your agents can receive notifications when someone else responds to a ticket. By doing this, you can avoid repeating responses and ensure that everyone on your team is always in the know.

Provide Omnichannel Customer Support

Customers find it annoying when you only allow them to contact your company through a few different methods instead of reaching out to them. The production of tickets from any channel is possible with omnichannel helpdesk software. The system also allows customers to communicate with the company in the most convenient way. It will also enable agents to view the customer from every possible angle.


Help desk software boosts mobility since its user interface (UI) is a straightforward web application that you can access quickly through any device like a smartphone or a computer with an internet connection. Help desk ticketing software enables you to post all tickets to a central platform, where you can track or resolve them from anywhere worldwide.

Every single one of your clients is essential, and each interaction holds excellent weight. To win customers' minds and hearts, a company must provide a pleasant and consistent customer service experience across all of its touchpoints. Only then will the customers be willing to do business with the company.

The use of helpdesk software is an example of progress in this area. In addition, if you are an affluent investor or a seasoned businessperson, PS Group provides a platform for crowdfunding investments tailored to start-up and growth-stage businesses. Please get in touch with us for more information.

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Tips for Small Business to Deal with Inflation

In today's business environment, it's important for your business to adjust to the ever-changing market conditions, especially when inflation sets in. Inflation happens when demand outweighs supply in an economy, causing prices across sectors to go up. Inventory, supplies, and labor costs have all been problematic in recent months, causing difficulties for small businesses in nearly every sector of the economy. Inflation can be tough for small businesses, but the right strategies, support, and resources can help you mitigate the challenge. Here are tips for small businesses to deal with inflation.

Review Your Pricing Regularly

Inflation can cause prices of your raw materials inventory and other inputs to increase, which in turn can eat into your profit margins. To deal with this, it's important to review your prices on a regular basis and make sure they are still in line with your costs. If necessary, you should review the prices upward to make sure your business is making profits that can sustain your processes and growth. Be sure to review your pricing on a regular basis so that if inflation creeps in, it won't cost you unexpected losses down the road.

Maintain and Expand Your Network

Supply chain disruptions and concerns about them are fueling the inflation fire. Securing the inventory your business needs to operate is one of the most important ways to protect your business from the harshest of inflation's impacts.

This requires some extra effort on your part to communicate with your suppliers so you can get a sense of what products are in the highest demand. This can help you anticipate future supply challenges and prepare vigilantly. If possible, you can secure long-term contracts with your suppliers to maintain stability in your inventory and prices.

Evaluate Your Labor Market Vulnerability

The impact of inflation on the labor market is sometimes unpredictable. While it's hard to see the exact professions and skillsets that will be impacted, it's important to evaluate your labor market vulnerability. Develop a human resource strategy to attract and retain talent. This should be done through market-rate pay raises, but also through non-monetary compensation such as career development and employee benefits.

Reorganize Your Debt and Borrow Wisely

Debt is part of running your business, but when inflation is high, the boundaries between good debt and bad debt can become blurry. It is recommended to pay down variable, high-interest credit card debt right away, and if you can't, at least transfer it to cards with lower rates. An even better alternative is to refinance high-interest debt into a fixed-interest rate loan with a longer-term. Ensure you reorganize your debt and borrow wisely.

Differentiate Between Strategic and Nonstrategic Spending

In any disruptive environment, odds are higher that executives will make choices that jeopardize the company's long-term strategy. It's not uncommon to make broad-based cuts that are not aligned with the company's strategy – and as a result, will not yield an optimal return on investment nor maximize shareholder value in the long run.

Instead, it's important to clearly distinguish between strategic and non-strategic cost-cutting. For instance, protection of signature customer and employee experiences, and fiduciary requirements. Use consistent, accessible financials to prioritize higher ROI investments. A sustainable cost management system should fuel a company's strategy and enable the business to out-invest competitors.

Expand Your Business Plan Visibility

Conducting a monthly plan review meeting can go a long way in helping your business stay afloat during inflation. Plan visibility is a great way to ensure everyone is on board and understands how the business is doing. By educating your employees and other stakeholders about your company's health, you can give them information that makes them want to invest themselves more in its well-being. All you have to do is make this information available to the employees.

PS Group is the next generation of impact. Please contact us to learn more.

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Acquiring Small Business Funding for Women (2022)

If you are looking to fund your small business enterprise, grants and crowdfunding may be good funding sources. Thus, if you are a lady that currently owns and operates a small business, you may find it best to apply for some of these grants as well as look towards crowdfunding to get these funds. This post reviews some of the sites you can apply for grants and those which can help you crowdfund.

Where to Find Grants

Regardless of whether you need public or private sources of funding, the following are some good platforms to begin searching for grant opportunities.


Grants.Gov is the largest United States government database on the internet. As of 2022, the site has more than 2200 grants that are active for application. This site will be helpful if you feel the need to get a federal grant. Thus, you can begin your search here.

IFundWomen Universal Grant Application Database

IFundWomen is a platform that helps fund women entrepreneurs. If you are looking to generate funds through crowdfunding and business grants, then this is the right platform for your business. The platform offers different types of grants, which include business partnerships and grants from crowdfunding. To find out whether you qualify for this type of grant, you can check for active grants and eligibility requirements.

IFundWomen has a unique grant application database, whose purpose is tailored to offer you grant opportunities. Upon submission of your application, they add you to their database, meaning that you will wait for feedback regarding whether you qualify for the grant or not. IFundWomen will then broker a grant, after which they match the criteria of this grant to their database. The platform then gives you a notification to apply if you match the program criteria. This means that you will not waste any more time on your application only to realize that you are not eligible.

Best Crowdfunding Sites for Small Businesses

Some of the best platforms to crowd-fund provide low fees, potential affluent investors and also create room for many types of campaigns. These sites have also proven to help projects meet their goals of funding. If you are looking to raise money for your business through crowdfunding, the following sites may come in handy.


Crowdfunder is a platform that enables investors and entrepreneurs to "meet". Crowdfunder is a community of more than 200,000 individuals and 15,000 certified investors. The site focuses on equity crowdfunding, meaning that you will need to provide a stake of equity stake in your business for you to get funding. Like a majority of other sites for crowdfunding purposes, Crowdfunder gives you resources that will help you to come up with the best crowdfunding appeal.


Wefunder has helped in the funding of over 450 startup businesses and helped raise more than $160 million. Unlike "Kickstarter" which allows you to sell products, Wefunder lets investors invest in your business with small ownership stakes. The site is only available to small businesses in the U.S. Wefunder may be what you need because the site does not charge any up-front fees and even offers you a chance of price matching should you find a better offer elsewhere.

Ready to Fund Your Small Business?

There are many other grants and crowdfunding sites catering to specific industries and products. Thus, do not despair in case you did not find an option that suits you in the list above. Take time to research on the type of funding that suits you the most and begin applying for funding for your business!

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Blog Post

7 Top Reasons Why Women Should Start a Small Business

Presently, many women are constantly establishing new businesses. According to the report, the number of women-owned enterprises has climbed by about 3000 percent in the last few decades. However, many women entrepreneurs have different reasons for starting their own companies.

Owning a successful business is the dream of many people. The majority of women business owners steer their career course and set their working hours. Everything you need to know about why women should start their businesses is right here.

For Flexibility

When you're your boss, there's a lot more freedom compared to being an employee. Women are seen as the main caregivers where family is involved. Research study reveals that the major reason why many women become entrepreneurs is to balance work with family preferences.

Owning a business provides you with the right to set a personal schedule that allows you to practice a healthy lifestyle and work out. Flexibility also offers you the opportunity of working whenever you want since you're unanswerable to anyone.

Inspiring Other Women

There's the positive power of mentorship when it comes to successful businesses. Many women have a role model in the world of business and this motivates them to open a new startup. Opening a business through the inspiration of a role model heightens the chances of its growth.

The majority of women entrepreneurs credit their mentors for the success of their companies. Your successful company can be an inspiration to other women desiring to be businesspersons.

To Follow Your Passion

Some women today are tired of making profits for organizations that don't value their worth. You might also feel uninspired by your corporate life and decide to leave it. Establishing a business provides you with the capacity to follow your passion and leave a legacy behind.

However, to become a successful entrepreneur you should identify something that you're passionate about. Businesses that are started as a result of passion tend to be more successful than others.

To Have Control Over Your Future

The pandemic busted the myth that corporate employment is a secure pathway to fortune. This lesson made it appealing for women to start their businesses. When it comes to losing jobs, the pandemic had an extremely negative effect on women as they saw more job losses than their male counterparts.

Owning a business makes you less vulnerable to job loss no matter the situation. You can be able to plan for your future without fear of getting sucked. Women business owners have control of their future.

For a Fast Progress

Women should start businesses to progress more quickly. The study reveals that men are promoted quicker than women because there's a variance in their behaviors. The research also found that the rate of promotions was due to treatment given to every gender.

Women with their businesses have a better chance of advancing quicker. Corporate life tends to slow the development of many women.

Entrepreneurship Opportunities

Women who start a business can reenter the workforce anytime in a method that supports the necessities of their lifestyle. You can start an organization that offers you job opportunities that were unavailable before. You'll have no trouble putting your plan into effect.

Being your boss allows you to learn the dos and don'ts of your venture. You're up-to-date with the latest technology, industry news, and consumer trends to help the growth of the business.

Brand Ownership

Opening a business enables you to have a brand that incorporates your logo and mission statement. Your brand clearly defines everything about your business. Having brand consistency builds trust with your clients and makes you stand out from competitors.

PS Group thrives at designing a performance strategy to stabilize, enhance, and exceed growth objectives, bringing in key players, and generating funds to help with the next phases of growth. Our skill sets are managed to guarantee that your company is ready to adopt our projects. Contact us to learn more.

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