Estimated reading time: 1 minute, 35 seconds

expertsThe top priority for running a business is cash flow, according to Lonnie Sciambi, a business consultant and owner of The Small Business Force. Not only does Sciambi argue that cash flow is the most important consideration for small business owners, “it’s also Number two through five and six through ten.”

Second to cash flow is learning how to find new customers or clients, he says.

The best strategy for business success is making the experience all about the client, says Sciambi. Finding a niche is also intrinsic to business prosperity, he says.

According to Sciambi, who generally advises entrepreneurs in business at least six months, flexibility is also paramount for endeavors to succeed.

“What worked last year, even last month, may not work (today). Change what you are doing to do it better,” says Sciambi.

It’s also imperative for small business owners to treat employees well. Not only does treating employees properly reflect positively on management, but staff who feel valued will treat customers better. Happy customers translates into positive word of mouth, leading to more clients, increased revenues and more.

Ed Walters, CEO of Fastcase, which offers digital legal research tools, suggests small business owners seek feedback from both customers who patronize them and those who opted not to.

Of course, it’s not enough to simply request feedback.

“Listen to the answers,” says Walters, and then implement changes suggested by the responses, if practicable.

One way Fastcase responded to feedback it received is to post its prices for services on their web site. That way, clients are fully aware of their financial stake in hiring Fastcase, and that relieves the worry of the unknown.

“Lawyers as customers as users of software aren’t shy about telling what they want. Small businesses should be the exact same way,” he says.

Tami Kamin Meyer is an Ohio attorney and writer who tweets as @girlwithapen.
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Scott Koegler

Bob Scott has been informing and entertaining the mid-market financial software community with his email newsletters for 10 years. And he has been covering this market through print publications for 18 years, first as technology editor of Accounting Today and then as the Editor of Accounting Technology from 1997 through 2009. He has covered the traditional tax and accounting profession during the same time and continues to address that as executive editor of the Progressive Accountant.

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