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In an effort to create more transparent support, and to just make it easier to answer questions about Merchant’s Mirror, we’ve decided to use Get Satisfaction as our support area. Get Satisfaction puts all of your support needs in an area where the power of the community weighs in. And since there are things coming down the pipeline that have to deal with community… (we won’t get into it here today although we can already here the half-hearted and playful boos), we decided that this was a good shift for us.

When you get right down to it, all small business is people powered, community driven, and the web 2.0 era has re-proven that fact. This allows both the corporate side to show that they’re listening, and not have to be repetitive with question answering which helps users find what they need, (maybe throw in some praise), and move on. The worst that can happen is when we hear about how some business shelled out hundreds if not thousands of dollars on accounting software to find that the company behind it never replies to emails or phone calls.

So if you have questions, comments, or whatever, just head over there and find out what you want to know. If you want to keep it private? There’s a place for that too.

There are plenty out there from Twitter to Facebook, and all of them have different types of scenarios that you should be paying attention to since the audiences are actually somewhat different. For example, if you are leveraging Facebook, there’s a good chance that you’re trying to sell a product or service to friends and acquaintances that you’ve met along the ways. However, microblogging sites such as Twitter provide a different type of scenario where the audience is not only the people that are looking to follow you, but also the real-time stream of information going across like a river. If it passes at just the right time, when someone is looking, you’ll have gained more eyes on your marketing.

Now, there’s multiple reasons to do social media networks, and it truly depends on whether or not your segmented market audience happens to use these services. For us, many of our clients happen to be freelancers of all types and are very in-tune with social networks in general which makes it a great area to not only market to those individuals, but communicate and provide customer relations through those channels. I do not believe that all small businesses should use this as a shotgun blast type marketing since it’s way too broad and is very much dependent to whom you are catering. But if you do provide products and services to an Internet market? Leverage your social networks like there’s no tomorrow.

There usually is a caveat though with open source. While they are community driven and supported, you have to be able to man the help station yourself and be proactive in finding the solutions to your particular issues. It also could be that your issue is explained in a very technical fashion and you have to be able to at least learn enough to disseminate that information. This makes certain choices more viable than others depending on the small business owner’s comfort level with technical documentation or sometimes lack thereof.

If you feel comfortable in the technical realm to use certain open source tools, there are many to choose from if you only take a few minutes with your favorite browser and look for the subject + open source. It has definitely helped keep our costs lower which is one of the reasons we can pass along the savings to our clientele.

Think about it. With all of the large corporations tightening their belts and getting rid of crucial professionals, there are many more of those that are striking it out on their own their their respective industries as independent firms and consultants than trying to look in the dried up job market. In fact, if you’ve been job hunting for a little bit you would be quick to recognize that there are not as many of the positions there as you’re lead to believe and while those large corporations are actually laying people off, they still have work to do that cannot be done with staff on hand. Thus, consulting and small businesses are still needed by these larger businesses.

If you take that into consideration, then you’ll also realize that while it’s no easy task to go out on your own, it’s also something that is very fulfilling and allows you to learn things about your business that you might not have necessarily knew about before. This gives you insight on how corporate structure works and eventually be able to look at things in a different light. Obviously, going out on your own means that you would need a little business acumen since you’ll be running everything from your own accounting software to marketing and advertising. When you’re self-employed, you will also need to buy what’s right for your company without over-extending your budget. Finding more cost effective solutions such as web based accounting is a definite need in the consultation world. In the end? There will be more people that adapt to owning their own businesses than ever before thanks to how global economics are panning out.

In fact, it wasn’t until I understood the cash-flow report that I was able to grasp the financial fundamentals of my business. Before then, I didn’t know what I was doing or where the business was headed.

My accounting software not only helps me manage and track the different financial transactions, but it also helps me measure the business performance.
Accounting system software provides many benefits to small businesses. Here are some of the key benefits, in my opinion:

• Speed: they are designed to speed up financial procedures.
• Automation: simple accounting software will automate your transactions, which helps eliminate mistakes. And since there’s no paper-intensive workload, it also frees up time to focus on more important activities to grow the business.
• Appraisal: allows you to measure your cash flow / financial performance.
• Forecasting: It provides management with a detailed picture of the company’s financial position for planning and budgeting.
• Convenience: a web-based accounting software allows you to take care of your accounting at the office, at home, or even during vacation, 24-7.
• Email capability: save money on postage! With software for accounting that has e-mail capability you can send invoices by email. No more trips to the post office.

In general, accounting software is essential to track sales, provide estimates, invoice customers, manage projects, and run your business more efficiently.

Now nearly every week, someone asks me one of these questions: “How did you start your business?” “What steps do I need to take?” “How do I get an EIN number?”

Launching your own business can be one of the most exciting and rewarding things you’ll ever do. It certainly has been for me. Of course, it does take some serious thought and planning.

So, here are some key steps (the way I see it) to take your business idea from fantasy to reality:

• Brainstorm your idea. First, make sure that you’re truly excited about your business idea. I believe deeply in this. The more passionate you are about your company, the more likely you are to succeed. Next, do your homework. Is there a growing need for the product or service you want to sell? How can you set yourself apart from the competition?

• Protect your idea. Have you come up with a great new name for your company? A revolutionary idea for a unique product that will change people’s lives? First, pat yourself on the back. Then, visit the U.S. Patent Office to register—and protect—your idea.

• Choose your business structure. Will you be a sole proprietor? Form a partnership with a friend or colleague? Create a corporation or limited liability company? Investigate your options.

• Get an employer identification number (EIN). This unique number—also known as a Federal Tax Identification Number—will be used by the IRS to identify your business. If you’re a sole proprietor, your social security number may suffice. Take this short quiz to determine whether you need to apply for an EIN.

• Open a business checking account. You’ll need to show proof that you own a business, so check with your bank to see what paperwork they require.

• Create a business plan. You need a roadmap to get to your destination, so don’t skip this important step. A business plan details your business idea, your target market, your team, key milestones, how much money you’ll need, and more. Not sure how to start? Watch the Small Business Administration’s 30-minute business plan webinar.

• Secure funding. Funding options range from personal savings or money borrowed from friends and relatives, to bank loans and venture capitalist funding. Fully investigate your options.

• Market your product or service. If you have a big budget, there are endless marketing options available, from billboards to television advertising. But even small startups can gain visibility, thanks to the Internet, which is leveling the playing field. Building your website is key, but bolstering that with a presence on social networking sites—such as Facebook, Twitter, and LinkedIn—can generate even more buzz.

• Accounting Software. And, of course, [ =) ] you’ll need an accounting system software to help you keep track of your expenses.

Lastly, I would like to recommend everyone thinking about starting a business to go see the great people at SCORE (Service Corps of Retired Executives). They have been a tremendous support. They offer free business coaching, and they have local offices all over the United States!