Running a business means juggling countless moving parts, from landing new clients to tracking every deductible mile. Quicken Business & Personal will soon release two major updates that can give you more time back to focus on what you do best.

Whether you’re sending estimates to potential clients or tracking business miles for tax deductions, these features deliver the professional tools you need.

Here’s everything you need to know about what’s new.

Estimates: Set clear expectations from the start

For many businesses, work can’t start until the client has approved an estimate. Estimates set clear expectations, define the project scope, and lay out the costs, so you can avoid misunderstandings while protecting your margins and building strong customer relationships.

Now, Quicken Business & Personal makes creating and managing estimates effortless. Send polished, branded estimates in minutes, track their status, and negotiate changes, all while keeping a full history for future reference.

How it works

The new Estimates feature offers multiple starting points for maximum flexibility. Create an estimate within a specific project, from a client profile, or from the invoice dashboard, making it easy to start your estimate wherever you’re already working.

Estimates let you draft longer, more descriptive line items. This means you can fully explain the work or products being quoted, reducing questions and building client confidence. Need to create a similar estimate? Simply copy an existing one, whether for the same client or a new one, and adjust only what you need to.

Every estimate can include your business name, logo, and contact details, reinforcing your brand and professionalism. You can even specify payment terms and add notes about retainers or deposits directly on the estimate, ensuring that expectations are clear before work begins.

Professional delivery and tracking

Estimates can be emailed or printed as non-editable PDFs, giving clients a clear, professional document they can review, sign, or save for their records.

The system tracks clear statuses — such as draft, sent, accepted, or declined — so you always know where each estimate stands. Clients can easily approve or decline estimates, helping you move quickly to the next step.

Even outdated or declined estimates remain accessible for future reference, making it easy to revisit past proposals for pricing or scope ideas.

Mileage tracking: Turn every mile into tax savings

Mileage deductions can mean significant tax savings for business owners, but only if the records are accurate and IRS-compliant. If tracking mileage is messy or inconsistent, trips can be forgotten, receipts can go missing, and rates can change from one type of trip to another, making it nearly impossible to get the deduction right.

Quicken Business & Personal puts mileage tracking in the same place as the rest of your financial data, making it easy to log, calculate, and report deductible miles.

Flexible entry options

Need an easy way to start? Simply enter your total annual mileage. This ensures the deduction appears on your Taxes report without the need for complicated trip-by-trip entry. It’s perfect if you’re tracking your mileage some other way but want everything consolidated for tax time.

Detailed tracking when you need it

For more precision, log individual trips with key details like date, mileage, business or personal purpose, specific business (if you have more than one), trip reason, and your start/end locations.

The system automatically applies the correct IRS standard mileage rate based on the date the miles were driven, even if that rate changed mid-year, so your deduction is always accurate.

The round-trip toggle is a thoughtful time-saver. Simply mark a trip as round-trip, and Quicken Business & Personal automatically creates the return trip with matching mileage.

Complete tax integration

View your total miles driven and the calculated dollar value of your deduction for the current year as well as past years, making it easy to track changes over time. The system integrates seamlessly with tax reporting, so mileage totals and deductions appear automatically in the Taxes report. This gives you a complete, accurate view of all tax-related data in a single place.

Why these updates matter

These two new features address the daily realities of running a business. They’re about taking the essential tasks you already do — estimating work, tracking mileage — and making them faster, more accurate, and easier than ever.

Together, they represent a significant step forward in how Quicken Business & Personal helps you manage the business side of your finances. Each feature integrates seamlessly with your existing workflow, maintaining the clean separation you need between business and personal finances while organizing everything in one convenient place.

Getting started

These features will soon be available to all Quicken Business & Personal users. Each one includes helpful guidance to get you started quickly. And remember, Quicken offers free phone and chat support if you’d ever like a hand.

Your business deserves tools that work as hard as you do. These updates to Quicken Business & Personal deliver on that promise, providing sophisticated capabilities that are genuinely easy to use. Give them a try and see how they can streamline your business finance management.

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Quicken Classic Business & Personal has migrated its PayPal integration to a new system, bringing increased speed, flexibility, and reliability to your payment processing.

If you’re already connected to PayPal in Quicken Classic Business & Personal, great! All you need to do is sign in again with your PayPal credentials.

If you tried to add your PayPal in Quicken Classic Business & Personal recently and weren’t able to connect, try again. You should be good to go.

Let’s look at what you can do with PayPal in Quicken Classic Business & Personal.

What is PayPal integration and how can it help my business?

The integration between Quicken Classic Business & Personal and PayPal eliminates a lot of the hassle that can come with trying to get paid. Instead of clients needing to write checks or navigate unfamiliar payment systems, they can simply click a link and pay using their existing PayPal account or credit card.

How the updated PayPal integration works

Setting up PayPal payment links has never been more straightforward. You can connect your PayPal account directly to Quicken Classic Business & Personal, generate secure payment links, and add them to your invoices, all within your familiar Quicken workflow.

When you email invoices from Quicken, those PayPal links are automatically included, so your clients receive a professional invoice with a convenient, immediate way to pay. All they have to do to access the payment portal is click that link; everything flows seamlessly from invoice creation to payment receipt.

Where that PayPal connection shines

Haven’t connected your PayPal account to Quicken Business & Personal? Here are just a few reasons why you might want to.

PayPal is a trusted payment platform

Trust matters when it comes to online payments. PayPal has built its reputation over two decades as a secure payment processor that protects both buyers and sellers. When clients see PayPal as a payment option on your invoices, this trust translates directly into faster payment decisions. Clients are much less likely to feel hesitant when they recognize and trust the payment method.

Give your customers payment flexibility

Not everyone wants to pay the same way. Some clients prefer using credit cards for the rewards or cash flow benefits. Others like the simplicity of paying directly from their bank account. Some maintain PayPal balances from their own business transactions. By including PayPal on your invoices, you’re offering multiple payment paths through a single link.

Streamline payment tracking and reconciliation

When payments come through PayPal directly into your Quicken Classic Business & Personal workflow, reconciliation is remarkably straightforward. Each payment automatically links to its corresponding invoice, eliminating the work of entering checks and matching them to outstanding invoices.

Getting started or reconnecting

If you’re new to PayPal integration in Quicken Classic Business & Personal, setup takes just a few minutes. Navigate to Web Links on your invoice, connect your PayPal account, and you’ll be ready to include payment links.

For existing PayPal users, migrating is easy, even if you haven’t used the integration in a while. Just sign into your PayPal account through Quicken when prompted, and your integration will seamlessly transition to the new platform. All your existing settings and preferences carry over — you just gain the benefits of the modernized connection.

Moving forward with confidence

Payment processing continues to evolve, and staying current with these changes ensures your business operates efficiently. The updated PayPal integration in Quicken Classic Business & Personal for Windows represents more than a technical update. It’s a key pillar in our dedication to our customers, giving you the tools you need for smoother cash flow, happier clients, and less time spent chasing payments.

Whether you’re sending your first invoice with PayPal or you’ve been using it for years, this enhanced integration keeps your payment workflow professional, reliable, and efficient. Your clients get the payment flexibility they expect, and you get paid faster.

Ready to streamline your payment collection? The updated PayPal integration is available now in Quicken Classic Business & Personal for Windows.

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Running a business on Mac means you value elegant design, intuitive workflows, and tools that just work. Quicken Classic Business & Personal for Mac has released several updates this past quarter that bring these same principles to your business finance management, from tracking every billable mile to upgrading your professional invoices.

Whether you’re billing clients for travel time, fine-tuning your invoice branding, or onboarding new clients, these features deliver the efficiency and polish Mac users expect.

Here’s what’s new for fall, 2025.

Mileage tracking & invoice integration

Mileage may be one of the most overlooked and underclaimed business expenses. Without an easy way to track it, link it to clients, and bill for it, many business owners lose these tax deductions and reimbursement opportunities. 

Quicken Classic Business & Personal for Mac eliminates those gaps, making mileage a visible, billable part of your financial picture.

From tracking to billing in one workflow

The new mileage tracking system lets you assign each mileage entry directly to a specific client, keeping your records organized and making it easy to track travel that’s related to billable work. No more scattered notebooks or separate spreadsheets. Everything lives where it should, connected to the right client from the start.

When mileage is billable to a specific client, simply flag your entries as billable expenses. These billable mileage entries will flow directly into your invoices automatically. You don’t have to manually re-enter the details or worry about missing charges. The system handles the connection between your mileage log and your invoicing, saving time and ensuring accuracy.

Flexible import options

Already tracking mileage in a different system? The CSV import feature makes migration quick and painless. Whether you’re bringing over a year’s worth of data from a spreadsheet or importing it from another tracking app, you can bulk import your records to keep everything centralized in Quicken. Your historical data stays intact, and you can start using the integrated billing features immediately.

Taking your invoicing to the next level

An invoice is more than just a request for payment. It’s a reflection of your business’s professionalism and brand. Quicken Classic Business & Personal for Mac has enhanced its invoicing features to make customization easier, navigation faster, and edits more intuitive.

Perfect your brand presentation

Preview how a new logo will appear on your invoices before finalizing it, ensuring that your brand will look polished and professional. You can also specify exactly which business details — like address, phone number, or tax ID — appear on printed or emailed invoices, tailoring them for both professionalism and compliance requirements.

The new reordering feature even lets you arrange invoice line items to present products or services in the most logical or impactful order. Maybe you want consultation fees before expenses, or you prefer grouping related items together. Now you have complete control over how your invoice tells its story.

Streamlined workflow enhancements

Navigate invoice line items quickly with tab and shift-tab keyboard shortcuts, making data entry faster and less repetitive. Plus, the new Invoice Actions pop-up menu puts common commands at your fingertips, reducing clicks and speeding up your workflow.

Last but certainly not least, the enhanced Activity Timeline now tracks credited and refunded invoices alongside other status changes. This gives you a complete historical record of each invoice’s journey from creation through payment, including any credits or refunds, all in one comprehensive view.

Streamlined client management

When a new client relationship begins, being able to capture their details quickly means no lost information, fewer manual updates later, and a smoother start to the working relationship.

Create clients without breaking your flow

While entering transactions in the register, you can now instantly create a new client profile without leaving the screen. This captures important details in the moment, when you have the information at hand, rather than requiring a separate workflow later.

This seemingly simple enhancement solves a real problem: those moments when you’re entering a payment or expense and suddenly realize you haven’t set up the client yet. Instead of interrupting your flow, you can create the client record right there and continue with your task. It’s the kind of streamlined efficiency that makes daily financial management less of a chore.

Why these updates matter

These three features work together to create a more cohesive business finance experience on Quicken Classic Business & Personal for Mac. Mileage tracking ensures you capture every deductible mile and billable trip. Enhanced invoicing helps you present a professional image while working more efficiently. Streamlined client management keeps your contact and billing information organized without disrupting your workflow.

Each update values both form and function, from keyboard shortcuts to visual polish, making sure you can run your business on your Mac the way you want to, with tools that enhance your workflows.

Getting started

These features are now available to all Quicken Classic Business & Personal for Mac users. Mileage tracking appears in your business section, ready to log your next client visit. The invoicing enhancements are already active. You’ll notice them the next time you create or edit an invoice. And client creation from the register is there whenever you need it, waiting quietly until the moment it saves you time.

Each feature includes helpful guidance to get you started quickly. And remember, Quicken offers free phone and chat support if you need assistance with any of these new capabilities.

Your Mac is already the hub of your business. These updates to your Quicken Classic Business & Personal ensure your financial management is just as seamless as the rest of your Mac experience. Give them a try and see how they streamline your business finance management.

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When you’re running a service business on your own, every hour and every dollar counts. You can’t be everything to everyone — and you shouldn’t try to be. That’s where market segmentation comes in.

Market segmentation is simply the practice of dividing your potential customers into smaller groups based on shared characteristics. Instead of casting a wide net and hoping for the best, you focus your energy on the people most likely to need what you offer.

The result? Your marketing becomes more effective, your time gets spent on better opportunities, and your business becomes more profitable. Let’s look at how to make this work for your business.

Why does market segmentation matter for small service businesses?

When you’re working solo, every decision about where to focus your energy has a bigger impact. Here’s why segmentation makes such a difference:

You can’t afford to waste time on the wrong clients

When you’re a solo service provider, your time is your inventory. Every hour spent chasing leads that won’t convert or serving clients who aren’t a good fit is an hour you can’t get back.

Market segmentation helps you identify who actually needs your services and has the budget to pay for them. This means you can focus your limited time and marketing budget on the people most likely to become great clients.

You’ll stand out instead of blending in

When you try to appeal to everyone, your marketing message becomes generic. But when you speak directly to a specific group’s needs and challenges, you become the obvious choice.

A web designer who specializes in e-commerce sites for local retailers has a much stronger position than one who just says “I build websites.” Segmentation gives you that clarity.

Your marketing budget goes further

Small businesses rarely have marketing budgets to spare. Segmentation helps you invest in the channels and messages that actually reach your ideal clients, rather than spending money on broad campaigns that might miss the mark entirely.

What are the different types of market segmentation?

There are several ways to think about dividing your market. You don’t need to use all of them — just pick the ones that make the most sense for your business.

Here are five common approaches to help you see the possibilities:

Demographic segmentation

This looks at measurable characteristics like age, income, education level, or job title. A bookkeeper might focus on small business owners with annual revenues between $100K and $500K, while a fitness trainer might specialize in working with people over 50.

Geographic segmentation

Location matters, especially for service businesses. You might focus on clients within a certain radius, specific neighborhoods, or particular cities. A landscaper might target suburban homeowners within 20 miles, while a consultant might serve clients throughout their entire metro area.

Psychographic segmentation

This considers values, lifestyle, and priorities. Are your ideal clients early adopters who want the latest solutions? Budget-conscious pragmatists? Quality-focused clients who’ll pay more for expertise?

Understanding the mindset of your best clients helps you speak their language and offer services that align with what they truly care about.

Behavioral segmentation

This looks at how people actually behave: their buying patterns, how often they need your services, how they prefer to communicate, or what triggers them to seek help.

A plumber might discover that emergency calls are more profitable than scheduled maintenance, or that certain types of problems lead to repeat business. That insight changes everything about how they market.

Needs-based segmentation

Sometimes the clearest way to segment is by the specific problem people are trying to solve. A graphic designer might serve clients who need ongoing brand support differently than those who need one-time project work.

How do I segment my market as a service business?

The process doesn’t have to be complicated. Start with what you already know, then build from there. Here’s a practical approach that works for solo service providers:

Start by looking at your current clients

Your best clients already hold the answers. Look at who you’ve enjoyed working with most, who’s been most profitable, and who’s referred others to you.

What do these clients have in common? That’s your starting point for defining a segment worth pursuing.

Identify patterns in your business data

Look through your past projects and invoices. Which types of clients generate the most revenue? Which services are most requested? Which industries or client types lead to repeat business?

If you’re tracking your business finances in an app like Quicken Business & Personal, you can tag transactions by client type or project category to spot these patterns more easily.

Research potential segments you’re curious about

Maybe you’ve noticed an underserved group in your area, or you have expertise that could help a specific industry. Do some basic research to understand:

• How many potential clients are in this segment?
• What specific challenges do they face?
• What’s their typical budget for services like yours?
• How do they currently find and hire service providers?

You don’t need formal market research for this — conversations with potential clients, online forums, and local business groups can tell you what you need to know.

Choose one or two segments to focus on

Don’t try to serve every segment you identify. Pick one or two that make the most sense based on:

• Your current strengths and experience
• The profitability potential
• The size of the opportunity in your area
• Your genuine interest in serving these clients

Having a clear focus doesn’t mean turning away other work — it just means being intentional about where you invest your marketing effort.

Test your assumptions

Before you go all-in on a segment, test it. Try targeting one specific group with a focused marketing message and see how they respond.

You might create a simple landing page for a specific service, run a small social media campaign, or reach out directly to a handful of potential clients in that segment. Their response will tell you if you’re on the right track.

How can I use market segmentation in my day-to-day business?

Once you’ve identified your target segments, the real value comes from applying that knowledge consistently. Here are practical ways to put segmentation to work:

Tailor your marketing messages

Once you know who you’re talking to, you can speak directly to their situation. Instead of “I’m a freelance consultant,” you might say “I help healthcare nonprofits navigate compliance challenges.”

This specificity makes your marketing more compelling and helps the right people self-identify as a good fit.

Adjust your service offerings

Different segments might need different service packages, pricing structures, or delivery methods. A corporate client might expect formal proposals and invoicing, while a small business owner might prefer quick quotes and online payments.

Understanding your segments helps you design services that actually fit how they want to work with you.

Focus your networking and referral efforts

When you know exactly who you’re trying to reach, you can be strategic about where you network and who you ask for referrals.

If you’re targeting real estate agents, you’ll invest time in real estate associations rather than general business networking groups. If you want to work with nonprofits, you’ll connect with board members and executive directors.

Allocate your time wisely

Not all clients or projects deserve the same amount of your attention. Knowing your target segments helps you quickly evaluate new opportunities.

When a potential client reaches out, you can assess whether they fit your ideal profile — and if they don’t, you can refer them elsewhere or politely decline so you have time for better-fit opportunities.

Refine over time

Market segmentation isn’t a one-time decision. As your business grows and the market changes, your ideal segments might shift.

Keep paying attention to which clients energize you, which projects are most profitable, and where you see the best opportunities. Let that guide your focus going forward.

How can Quicken Business & Personal help me understand my market segments?

When you’re trying to figure out which clients and projects are actually working for your business, having clear financial data makes all the difference.

Track income by client type or project

Quicken Business & Personal lets you use custom tags to categorize your income and expenses however makes sense for your business. You might tag transactions by client industry, project type, or service offering.

This makes it easy to see which segments are generating the most revenue and which ones might not be worth the effort.

See which work is most profitable

Beyond just revenue, you can track the expenses associated with different types of projects. This helps you understand true profitability, not just gross income.

You might discover that smaller projects with lower overhead are actually more profitable than larger ones that require significant upfront investment.

Generate reports to guide your decisions

With built-in reports like profit and loss statements and cash flow analysis, you can see exactly where your money is coming from and where it’s going.

These insights help you make smarter decisions about which market segments deserve more of your focus and which ones you might need to rethink.

Manage multiple businesses or organizations in one place

If you have several different business ventures — maybe a main consulting practice plus a new garden design venture you’re exploring, or freelance work alongside a nonprofit you’re starting up — Quicken Business & Personal supports up to 10 different businesses in a single subscription, with no additional fees.

This makes it easy to keep each venture’s finances separate and organized while managing everything from one central place.

Making market segmentation work for you

Market segmentation doesn’t have to be complicated. Start by looking at who you’re already serving successfully, identify the common threads, and focus your energy there.

As you get clearer about your ideal clients, everything else gets easier: your marketing becomes more effective, your time goes to better opportunities, and your business becomes more profitable.

The key is to start simple, pay attention to what works, and refine your approach as you learn more about your market and your business.

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Running your own business means wearing a lot of hats. You’re the CEO, the accountant, the marketer, and everything in between. We’ve heard you loud and clear: you need tools that work as hard as you do, saving you time on the financial stuff so you can focus on what really matters—growing your business and living your life.

That’s why we’re thrilled to share three new features for Quicken Business & Personal. Each one addresses specific challenges you’ve told us about, and we think you’re going to love how much easier they’ll make managing your finances.

Estimated quarterly taxes: Finally, a tax calculator that gets it

If you’re self-employed, you know the quarterly tax dance all too well. Every three months, you’re supposed to figure out how much to send to the IRS based on… well, your best guess about fluctuating income, deductible expenses, and whatever else might affect your tax bill. Get it wrong, and you could face penalties. Or you might overpay and give the government an interest-free loan.

Coming in July, our new Estimated Quarterly Tax Calculator takes the guesswork out of the equation.

Here’s what makes it different: Instead of throwing you into a complicated form right away, we’ll start with a pre-screening questionnaire. Think of it as a friendly conversation that helps us understand your specific tax situation. We’ll ask the right questions up front so the calculator can give you personalized, accurate estimates without feeling overwhelming.

How it actually works

Once we understand your situation, the calculator does the heavy lifting:

Smart projections: We’ll pre-fill the form based on how you’ve categorized your transactions throughout the year. No more manually entering every income source and expense category—we already know this from your day-to-day use of Quicken Business & Personal.

Future quarter estimates: Income can be unpredictable when you’re self-employed. Maybe Q1 was slow but Q2 was your best quarter ever. The calculator lets you adjust projections for future quarters, so your estimates stay realistic as your business evolves.

Automatic payment reminders: Once you’ve calculated what you owe, we’ll create scheduled transactions for each quarterly tax due date. No more scrambling to remember when payments are due or how much you planned to pay.

Multi-year tracking: Tax situations change from year to year. Maybe you incorporated, moved states, or had a particularly good (or challenging) year. The calculator saves your estimates for multiple years, making it easy to see trends and plan ahead.

The best part? This all happens within your regular Quicken Business & Personal workflow. Your business income and expenses are already tracked and categorized, so estimating taxes becomes just another natural part of managing your finances—not a separate, stressful event four times a year.

Sticky reports: Set it up once, use it forever

We heard you. You’ve spent 20 minutes setting up the perfect profit and loss report—filtering by specific categories, choosing exactly which columns to display, getting the date range just right. Then you close it, come back next week, and… you have to set it all up again.

Not anymore.

Soon, reports in Quicken Business & Personal will remember exactly how you left them. We call this “Sticky Reports,” and it’s going to save you more time than you might think.

What “sticky” really means

When we say reports are sticky, we mean they remember everything:

• Filters: Selected specific categories? Filtered by certain tags, clients, or projects? All remembered.
• Display preferences: This includes your accounting method (cash vs. accrual), line height preferences, and any other visual settings that make the report easier for you to read.
• Date ranges: Did you set a report to show you this year’s numbers? Last month’s numbers? You won’t have to start over when you bring up the report again later. 
• Graph settings: When you have a graph set up just how you like it, Quicken Business & Personal will remember your choices, so you can see what you want to see without any extra effort.

Every report becomes your report, set up exactly how you like it.

Include expense receipts with invoices: Because your clients need proof

Here’s a scenario we’ve heard from many of you: You’re a personal chef who bills clients for your time plus the cost of ingredients. A consultant who travels on behalf of clients. A contractor who purchases materials for specific jobs. In all these cases, your clients don’t just want an invoice—they need to see the receipts.

Until now, that meant a tedious process of scanning receipts, organizing them separately, and attaching them to emails alongside your invoices. Now, Quicken Business & Personal handles it all in one smooth workflow.

The complete invoice package

Here’s how the new feature brings everything together:

Receipt capture: You’re already snapping photos of receipts with the Quicken Business & Personal mobile app (if not, you should be—it’s a game-changer for expense tracking). Now those receipts aren’t just for your records.

Automatic attachment: When you create an invoice that includes expenses, you’ll see a new option: “Include expense receipts.” Check that box, and every receipt attached to those expense transactions automatically becomes part of your invoice package.

Smart PDF generation: When you preview or send the invoice, Quicken Business & Personal creates a single PDF with your invoice first, followed by all relevant receipts. Multiple receipts for one transaction? Multiple pages for one receipt? No problem—everything’s included in the right order.

Client-friendly delivery: Your clients receive one professional PDF with everything they need. No more “see attached” emails with five different files. No more follow-up requests for missing receipts. Just clean, complete documentation that makes approvals and reimbursements faster for everyone.

Control at your fingertips

We know not every invoice needs receipts attached. Maybe some clients trust you implicitly, while others need documentation for everything. That’s why receipt inclusion is always your choice:

• The setting is off by default, so nothing changes unless you want it to
• You can toggle receipt inclusion on or off for each individual invoice
• All your receipts remain securely stored in the app whether you include them with invoices or not

This feature works seamlessly between mobile and web. Capture receipts on the go, create invoices from your desktop—everything syncs automatically so your receipts are always ready when you need them.

Built for you, by listening to you

These three features might seem different on the surface—tax calculations, report customization, receipt management—but they share something important. Each one came directly from your feedback. Each one solves a real problem that real users face every day.

That’s how we build Quicken Business & Personal: by listening to what slows you down, what frustrates you, what takes time away from your real work. Then we craft solutions that feel natural, save time, and just make sense.

Together, these features continue our mission to give you back time—time to grow your business, time to serve your clients better, time to actually enjoy the flexibility that being your own boss should provide.

The estimated quarterly tax calculator and sticky reports are coming soon, while the receipt inclusion feature is available now. Keep an eye on your Quicken Business & Personal app for updates. We can’t wait to hear how much time these features save you.

Because at the end of the day, that’s what it’s all about: giving you the tools to manage your finances efficiently so you can focus on what you do best. Whether that’s cooking amazing meals, providing expert consulting, building beautiful spaces, or whatever your business passion might be—we’re here to handle the financial details so you can handle everything else.

Your business. Your way. With a lot less hassle.

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According to 2024 data from the US Bureau of Labor Statistics, more than one in five new businesses (20.4%) fail within a year. Almost half (49.4%) fail within the first five years. 

But, imagine a world in which those failed businesses weren’t going it alone—where they had the help they needed to crunch through business plans, solve problems, strengthen their leadership, and stay ahead of an evolving market.

The good news? We all live in that world. From articles and podcasts to videos and free lectures, the internet is chock-full of great information—and qualified experts ready to lend a hand.

Below you’ll find 13 actionable, field-tested tips for Small Business Week, including hard-won wisdom from 7 experts on how to beat the odds.

1. Pick one thing to scale

Whether you’re a small business owner or freelancer, running your own business as a self-employed individual is a lot to shoulder. It isn’t just the work; it’s the responsibility—the pressure of knowing how much is riding on every decision, and, at the same time, not knowing how things are going to turn out.

The key is not to try to do everything. People will tell you that you have to do a million different things, from social media to networking, but there’s only so much of you to go around. So, play to your strengths. Get some traction in one direction before you start on something else.

From Curtis Luke, Founder, Niche-Marc Consulting, LLC:

“Most people think building a business is about big ideas. What I’ve come to realize is that success isn’t about hype; it’s about pushing through the quiet, gritty days.

One thing I had to learn — and what I now teach — is to stop trying to scale everything at the same time.

You should pick one thing you do better than anyone, and go all in.

Keep it simple.

Stay stubborn about your mission.

Success isn’t sexy when you’re living it day to day — it’s discipline, sacrifice, and relentless service.

I coach entrepreneurs through the messy middle — the doubts, the pivots, the pressure — to help them build businesses that don’t just survive, but lead.

You don’t need more noise.

You need more focus.”

2. Clarify your ideal client and core promise

Get crystal-clear on your best clients. Who are they, and what is it about them that makes them such a good fit? With this in mind, draft one sentence that captures your value proposition: who you help, the specific problem you address, and the outcome you deliver. 

When every decision flows from that statement — from your pricing to your logo — your marketing gains instant focus and your offers resonate more deeply.

3. Use AI to amplify your story

Pick one repetitive task (e.g. e-mails, social media posts, or reel scripts) and experiment with AI, figuring out the best ways to use it in coming up with new ideas for your specific business. Measure the time you win back, and reinvest it in higher-value conversations with customers.

From Neal Schaffer, Fractional CMO and author of Digital Threads: The Small Business and Entrepreneur Playbook for Digital First Marketing:

“My best advice for small businesses leveraging AI is to keep things simple yet strategic. AI tools like ChatGPT can dramatically boost your DIY digital marketing, helping you create smarter content, engage better on social media, and save precious time. But don’t get lost chasing tech trends; focus on using AI to amplify your unique story and connect deeply with your audience. Remember, digital marketing success comes from authenticity, consistency, and human connections—let AI enhance your creativity, not replace it.”

4. Focus on razor-sharp, measurable goals

Choose one or two numbers that matter deeply to your business and track them regularly, whether that’s every month, every week, or even every day. Maybe it’s your monthly revenue, average engagement rate, or qualified leads per week.

Whatever you choose, set up a system that lets you enter that data and track it over time. When you can see the scoreboard clearly, priorities snap into focus, and your progress compounds.

5. Build and follow a repeatable sales process

Selling isn’t magic; it’s a series of predictable, learnable steps that convert potential interest into actual revenue. Map out the sequence to see where you’re doing well and where you want to improve. Tighten any leaks, rehearse your close, and watch your revenue grow.

From Jeff Goldberg, Head Coach and Lead Trainer at Jeff Goldberg & Associates:

“If you’re going to build a business, there’s one thing to keep in mind: The best product/service is useless unless you can sell it. Want your biz to beat the odds? Learn how to sell.

The good news is that sales isn’t rocket science. You just need a process:

1. Establish rapport
2. Ask questions
3. Confirm the answers
4. Present your solution
5. Negotiate (if needed)
6. Close (ask for the business)

Sales is a conversation, or series of conversations, leading to help the other person CHOOSE to do business with you.”

6. Package up at least one service

Is there something you do for your customers fairly often? Something they all seem to appreciate? Turn it into a clearly defined package, including what you’ll do, how long it will take, and how much it costs. Pre-defined services tend to sell more easily, helping you get more new customers in the door. 

If the service is something clients need regularly, like every week or every month, that can form a solid foundation of dependable, repeatable business.

7. Show up as a strategic partner, not “just a freelancer”

Clients keep experts who plug into the bigger picture, providing what they need without requiring a lot of their time or attention. Expand your skills and try to frame your proposals around measurable results rather than tasks. When you get paid by the hour, your revenue is limited by the hours in a day. When you get paid for results, you won’t face that bottleneck.

From Christine Gomolka, Conversion Copywriter, Content Creator & Brand Messaging Strategist for Service-Based Businesses:

“If you want to freelance long-term, especially as a copywriter, you’ve got to evolve with the industry. Two things I always teach my students:

1. Don’t just be “a writer.” Expand your skills and learn how to contribute to the bigger picture: SEO, content strategy, web design, or even video. The more value you bring, the harder you are to replace.
2. Shift your positioning. Clients don’t hire you for words. They hire you for results. Speak the language of conversions, leads, and revenue.

When you show up as a strategic partner in their growth, not just a freelancer, you’ll stay booked and in demand.”

8. Pilot, measure, iterate

Instead of betting the farm on a big launch, run micro-experiments that don’t require a high investment in time or money to see how well they work: a one-hour webinar, a paid discovery session, a low-commitment project. 

Track engagement and profit on each test so you can double down on what works and either tweak or abandon what doesn’t. Momentum comes from a steady drumbeat of small, validated wins.

9. Align passion with market demand

Love for your craft can sustain you through the long days and late nights of running your own business — but it will only put food on the table if you’re solving a genuine problem for paying customers. Talk to potential clients and let their feedback shape your offer until you find that magic opportunity where your passion provides the value they need.

From Phil Masiello, CEO CrunchGrowth Revenue Acceleration Agency:

“After interviewing hundreds of entrepreneurs on my show and building four brands myself, here’s my best advice: Build something you’re truly passionate about. Passion is what will carry you through the inevitable rough patches. But passion alone isn’t enough. You also need to find the customers who want what you’re creating. That means getting out of your own head and into their world. Listen. Learn. Adapt. The businesses that beat the odds aren’t always the flashiest. They’re the ones that solve real problems for real people and stay relentlessly focused on delivering value. Build for them, and you’ll build something that lasts.”

10. Create a referral flywheel

Customer recommendations are the cheapest, most effective kind of marketing for solo service firms. Make it effortless for your clients to refer you to the people who trust them: deliver great experiences, ask for a referral or LinkedIn recommendation when they’re thrilled with a project you just delivered, and show your appreciation with handwritten thank-yous or small gifts. 

When clients refer you to their friends and colleagues, those new customers will trust you as much as the people you’ve been working with for years.

11. Treat profit—and retirement—as non-negotiable

Earmark percentages of every dollar you make for take-home pay, taxes, and future you. Automate your salary or distributions, transfers to a business savings account for taxes, and contributions to a retirement plan before allocating the rest to expenses.

From Laura D. Adams, author of Money-Smart Solopreneur, host of the Money Girl Podcast, and founder of The Money Stack newsletter:

“Building a successful business starts with understanding your goals—like reaching a certain profit margin, sustaining a desired lifestyle, or creating a global brand—because every entrepreneur is unique. 

If you’re one of about 82% of small businesses with no employees, getting expert guidance and help can be the ticket to growing your venture. For instance, pros like certified tax professionals, web designers, attorneys, insurance brokers, and marketing specialists can fill gaps in your skills, protect your liability, help you save money, or take responsibility for tasks you don’t enjoy. 

Solopreneurs should also be proactive in planning for retirement by opening and contributing to a tax-advantaged account, like a solo 401(k) or SEP-IRA. Regularly funding a retirement account is the secret to building wealth while growing your business.”

12. Get help from contractors

No business owner is an island. Sometimes, you’ll need help from someone who brings different skills to the table, or you’ll just need a helping hand to get through the busy season. But you don’t need to hire full-time staff to get the help you need, especially when you only need a hand here and there.

The most important thing to remember if you’re bringing on contractors to handle client demand is to document your expectations for any tasks you delegate. Include deliverables and deadlines, rules about communication, software they need to use, and so on. A lightweight library that documents your standard operating procedures will help new contractors ramp up quickly and keep quality consistent even when workloads spike.

13. Build a marketing foundation, one step at a time

You can’t do everything at once, but, step by step, even a solo freelancer can build a marketing engine that brings in new business on a regular basis. Keep getting out there and trying new things. Some will work, and some won’t. So test each idea in a small way. Don’t worry about getting it perfect. Design your experiments for learning, and the success will come naturally. 

From Bryon McCartney, CEO & Co-Founder at Archmark:

“My best advice for building a business that can beat the odds is to treat your firm’s marketing like you would a building: start with a solid foundation, draft a clear blueprint, and schedule disciplined maintenance. Focus on attracting ideal clients by defining a niche, showcasing your strengths through high‑value content, and establishing authority with targeted thought leadership. Invest in predictable lead channels—SEO, email nurture, referral partnerships—to keep cash flowing. Measure your results, refine your strategy, and iterate relentlessly; resilient growth comes from consistent, data‑driven effort, not from trying to perfect everything before putting it out in the wild. Progress over perfection, always.”

Want even more help beating the odds?

Start by following the experts in this post. They’re all on LinkedIn, offering great advice for small business owners week in and week out.

Then, let us help you manage your finances.

When you’re self-employed, you need every hour you can get to focus on client deadlines and growing your business. The last thing you want is a lot of admin work. But most small business owners manage their own finances, at least for a while, and that gets complicated. You need to keep business and personal accounts separate for taxes, but your cash needs to flow back and forth, too. 

Quicken Business & Personal can give you a leg up, letting you track and manage your finances in one place with the perfect separation you need — at a price that makes sense for a small, growing business. It even comes with free, live support when you need a hand.

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No matter where you are, chances are that you have your phone on your person — you might even have it in your hands, reading this sentence! Once simply a means to stay connected (you remember your Motorola Razr, right?), phones are now so integrated into our lives that it’s hard to imagine leaving home without them. 

Aside from using your phone to play music, organize your life, and engage in social media, did you know you can use it to make money online? Here are the best ways to stack some extra cash just by using your phone.

1. Sell photos 

Whether you’re team Android with a Samsung Galaxy or you’re locked in with the iPhone 15 Max, mobile phones nowadays have remarkably good cameras. If you have an eye for photography, consider snapping shots with your phone and selling them to sites like Foap, Adobe Stock, Shutterstock, or Getty Images for a little extra income. 

Who knows, maybe you’ll see a stock photo you took on a billboard!

2. Complete surveys online

Earn money on the subway, sitting on the couch, or in between periods during a hockey game by taking online surveys on your phone. Sites like SwagBucks, Survey Junkie, or InboxDollars have contracts with companies to conduct surveys for market research, offering their opinions on anything and everything. 

This avenue is definitely more supplementary in terms of income — the payout usually ranges from $.50–$5.00. 

3. Buy and sell as a business

Are you an expert in musical instruments? Vintage watches? A bonafide sneakerhead? 

No matter where your interests lie, you can make money by finding deals on things like snare drums, 80s Seiko watches, or Adidas Gazelles and flipping them on generalized sites like eBay or specialized sites like Reverb, Chrono24, Poshmark, Grailed — or even by starting your own eCommerce website.

4. Become a freelancer 

If you have experience as a writer, graphic designer, or UX analyst — or if you’re a social media maven — you can monetize your expertise by finding work as a freelancer. And the best part? You can often do it directly from your phone!

Put together a portfolio of your work and upload your resume to sites like Upwork, Fiverr, and Toptal where you can be hired by potential employers looking for a freelancer to add to their team — maybe it could even transition into something full-time. 

5. Rent out your car

Got a set of wheels that you don’t mind lending out? Consider listing your car for rental through Turo or Getaround. Getting started is simple — create an account, get approval, and list your car available for rental. Both services offer insurance for extra peace of mind, and the sign-up process and approval can be completed on your phone.

6. Become a virtual assistant

If you’re organized and don’t mind doing a little administrative work, consider picking up a few hours as a virtual assistant — all on your phone. 

You can find opportunities on digital job boards like Upwork and ZipRecruiter. Tasks can include data entry, booking travel, doing clerical work, managing email accounts, and more. If you’ve been asking yourself how to make money on your phone on the side, becoming a virtual assistant is a great idea.

7. Become a dog walker

Love dogs and have some spare time? Sign up as a dog walker with Rover or Wag! — they have mobile apps that make the process on your phone a breeze. You can set parameters, including your availability and how many dogs you’re willing to walk, and get paid right in the app! 

8. Start a YouTube channel

Ready to become a star on YouTube? All you need is the camera on your phone and a Google account. Sign up, create your channel, and get the camera rolling — play to your passions and consider creating videos about the things you love. 

Once you get established, you can earn revenue from ad streams, affiliate links, and subscriber fees on YouTube Premium. If you’re a beginner, remember that there may be a learning curve — just be patient and persistent.

9. Create a podcast

Nowadays, there’s a podcast for literally everything! If you want to start your own, you can do it right on your phone — simply use the built-in microphone, record directly using Voice Memo (iPhone) or Sound Recorder (Android), and upload it to streaming platforms like Spotify and Apple Music. 

You can sell ads once you increase your listeners, use affiliate links to earn a percentage of sales from a product you promote, and even open yourself up to tips from your listeners! 

10. Become a delivery driver

Okay, so not entirely on your phone, but you can use your device to sign up to become a delivery driver for services like Uber Eats, DoorDash, or Instacart in your free time. 

Signing up is easy — you’ll need to download the app, upload your personal information (driver’s license and car registration), and connect your bank account for direct deposit. Most services will also require you to pass a background check. 

11. Rent out your space

Got an investment property that you’re ready to monetize for some passive income? Or even a spare room in your home? Consider listing your space online and letting that new income stream work for you. 

For short-term rentals, you can list on sites like AirBnb and Vrbo — signing up is easy and you can use the app to communicate directly with renters. For long-term rentals, you can list your place on Zillow or Redfin. 

12. Sign up for cashback programs

Cashback apps, like Ibotta and Rakuten, allow you to put a little extra cash back into your pocket when you go shopping. After signing up (for free, of course!), you can earn cash back on travel, groceries, and online retail shopping. 

Average cashback ranges anywhere from $10–$30 monthly, which can be deposited into your checking account directly (Ibotta), or be disbursed via PayPal (Ibotta or Rakuten). 

13. Tutor online

Can you do algebra in your sleep? Speak a second (or third) language with native proficiency? Could you play “Canon in D” before you could tie your shoes? Believe it or not, these are marketable skills that could earn you some dough as a teacher — you can do it all with Zoom or FaceTime right on your mobile device. 

You can apply via sites like Tutor.com or Skooli, or just promote your services locally! 

14. Become a brand ambassador

If you’re a creator with a substantial social media presence, becoming a brand ambassador could be a no-brainer in terms of making money. The job generally entails working with a brand over multiple campaigns, where you’ll serve as a cheerleader for what they’re doing — and ultimately, getting paid to create content and through affiliate marketing. 

Remember, it helps to champion a brand that you genuinely care about, so be discerning about who you work with! To get started, check out this guide. 

15. Create (and sell) digital products

Songs. Apps. Software. Ebooks. These are all examples of digital products — things that exist virtually — that you can sell from an eCommerce platform for real money. Phones are sophisticated enough to code an app and record music — you could even write a novel if your thumbs have the stamina! 

Play to your strengths — if you’re a developer, you could create a plugin or app. If you’re a writer, pump out some prose. Once you finalize your product, create a storefront using Shopify, Stan, or the App Store, and start making money.

16. Test websites and apps

Did you know that you can get paid to test websites and apps, directly on your phone? Not a bad side hustle when you really think about it! 

With sites like UserTesting and UserPeek, you can earn money by completing tasks on websites — you might watch videos, play games, or test apps, and give your opinion on the experience afterward. All you need to do is sign up, take an aptitude test, and start reviewing.

17. Rent out your parking space

If you live in a city like New York or San Francisco, you know that thinking about parking can spark thoughts of existential dread and notions of selling your car altogether. If you have access to a parking spot that you don’t need (or only use part-time), why not help assuage someone’s parking panic and rent that space out? 

List your parking spot on Neighbor or Spacer, get paid, and help someone out!

18. Drive for a rideshare app

Another option that doesn’t exist entirely in the virtual space is driving for a rideshare app — but it can be pretty lucrative. Uber and Lyft are everywhere — if you have a license, a vehicle that’s inspected and insured, and a cell phone, you can start almost immediately. 

Setting up your account is simple. Just upload your personal information — including photos of your license, registration, and proof of insurance — and then undergo a background check. Once you’re verified, you can start driving immediately and cash out daily. 

19. Sell your stuff online

It’s been scientifically proven that owning less can make you happier in the long run. Why not cash in on your way to everlasting happiness by selling things you no longer need? Take stock of your belongings, and decide what you want to get rid of — you’ll be amazed at the different niche markets across the internet! 

Type up a listing in Google Docs, snap some photos with your camera, and upload to Decluttr, Craigslist, eBay, Facebook Marketplace, or any other online marketplace you like. 

20. Create music and sell it

Music is so subjective — you don’t need a 72 channel Neve console and Rick Rubin at the helm to create something amazing. In the spirit of DIY recording, you can write, record, and distribute everything on your phone! 

Use your phone’s built-in sound recorder to capture intimate takes of an acoustic performance, or use FL Studio or GarageBand (iOS only) to create with virtual instruments. You can upload to streaming services with CDBaby or DistroKid, or post your music on Bandcamp and get paid directly.

21. Curate virtual experiences

Perhaps the most creative option of this list, consider creating and curating virtual experiences for clients or customers using your phone — this can look different from person to person. 

If you’re a yoga or meditation teacher, film guided sessions and sell the content. If you’re a sommelier or chef, you can offer personalized tasting sessions or cooking lessons via Zoom or FaceTime. 

This is a great opportunity to turn your passions into extra money, and an even better opportunity to share your passions with a grateful audience!

Bonus: stretch your money further

When you’re hustling for extra cash, every dollar counts. If you’re not currently using a personal finance management tool, it can be wildly helpful to manage your money with one. 

Whether you want to keep an eye on your income, create savings goals, hone in on your budget, or track your investments, Quicken has you covered.

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If you have a business, or if you’re thinking about starting one, there are several ways you can use that business to help you save money on your taxes. For example, one little-known strategy that can provide significant tax benefits is employing your children. 

This article explores the various tax benefits of paying your kids from your business and how it can help reduce your overall tax burden. From saving on payroll taxes to shifting your income to a lower tax bracket, employing your children can be a wise financial move.

Shift your income to a lower tax bracket

When you pay your child from your business, you’re effectively shifting income from your higher tax bracket to your child’s lower tax bracket. Specifically, if your child is in a lower tax bracket than you, you can reduce income taxes using this strategy. While this technically increases the tax liability for your child, this strategy can effectively reduce the overall tax liability for your family as a whole.

Save on payroll taxes

If your business is a sole proprietorship or a partnership in which both partners are the child’s parents, you can save on payroll taxes. In this case, the child’s wages are exempt from Social Security and Medicare taxes (FICA) until they turn 18. This exemption provides an additional tax savings benefit because not only do you reduce income tax but you also eliminate payroll taxes on the wages paid.

Benefit from a standard deduction

Each taxpayer is entitled to a standard deduction, which reduces the amount of income subject to income tax. For 2023, the standard deduction for a single individual went up $900 to $13,850!  By employing your child, you enable them to use their standard deduction against their earned income, effectively making a portion of their wages tax-free. This can further reduce your family’s overall tax liability. 

For example, if you only pay your child $15,000 in 2025, they will pay no income tax because they will take full advantage of the standard deduction. If you are in the 37% bracket, this amounts to over $5,500 in tax savings.

Deduct business expenses

When you employ your child in your business, you can deduct their wages as a business expense. This can help reduce your business’s taxable income and lower your tax liability.

Teach valuable life skills

While not a direct tax benefit, employing your kids in your business can teach them valuable life skills, such as work ethics, financial responsibility, and time management. These skills can benefit them throughout their lives, making this strategy an investment in their future. For example, I really enjoy teaching my children the value of a dollar earned.

What’s the catch?

While this sounds like a great strategy, make sure you dot your i’s and cross your t’s. Specifically, you must document the work performed and be able to show that the work was necessary for the business. Additionally, you must document the amounts paid and be able to justify them as reasonable for the services they perform.

Conclusion

Paying your kids from your business can provide numerous tax benefits to help you save on taxes. From income shifting to payroll tax savings, the advantages of this strategy are material. Additionally, employing your children allows you to invest in their future by teaching valuable life skills and setting them up for long-term financial success. 

As with all tax strategies, it is important that you keep robust documentation, and it is highly recommended that you work with a tax professional/CPA to ensure all the correct income tax and payroll tax forms are properly completed and filed. If properly executed, this strategy can pay dividends to your family for years to come.

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Every successful business owner has an edge: the ability to see their business clearly, understanding both its potential and its challenges. For independent professionals and small business owners, SWOT analysis transforms this insight into action.

Whether you’re evaluating new opportunities, planning for growth, or making sure your business stays competitive, a well-crafted SWOT analysis helps you make confident decisions based on real data.

What is SWOT analysis?

SWOT analysis is a practical tool that helps you evaluate your business from four key angles: Strengths, Weaknesses, Opportunities, and Threats. Think of it as taking a snapshot of your business from different perspectives, helping you see what’s working well and what needs attention.

Unlike complex business evaluation methods that require extensive (often expensive) research, SWOT analysis organizes what you already know about your business into a format that makes patterns and possibilities clear. 

Meet Elena

“Elena” is invented but her story is very real, based on many years of experience running service-based businesses. As an independent architect, she built her reputation designing innovative spaces for small commercial clients. Her keen eye for detail and ability to blend function with style earned her a growing stream of referrals, and soon she found herself bringing in specialist contractors to help with larger projects.

But growth brought unexpected challenges. Managing multiple projects while maintaining quality became increasingly complex. Elena needed a way to evaluate her business objectively and make strategic decisions about its future. She used SWOT analysis to transform her approach to business planning.

SWOT analysis can help you:

• Evaluate growth opportunities with concrete data
• Make your greatest successes more predictable and repeatable
• Understand what truly sets your business apart
• Turn your business insights into meaningful action

A real-world example of SWOT analysis 

Let’s look at how Elena used SWOT analysis to evaluate her architecture practice. Her approach can work for any business, helping you turn observations into actionable insights.

Strengths

Elena started by sifting through her client feedback, project outcomes, and the kinds of projects that consistently earned her referrals. This helped her identify what her business did exceptionally well.

She discovered that her sustainable commercial design projects tended to be more profitable than others, and she noticed that her designs in retail and restaurant spaces often led to referrals. Other strengths included strong relationships with reliable contractors and an excellent reputation for meeting deadlines and budgets.

This clear picture of her strengths helped Elena make better decisions about which projects to pursue and how to market her services.

Weaknesses

As Elena examined her business challenges, she noticed several areas that needed attention. 

Her success with larger projects was revealing a capacity issue — she could only effectively manage a few at a time. Her project management processes varied from client to client, creating inconsistencies that sometimes led to confusion. She also realized she had no systematic way to stay in touch with past clients, potentially missing opportunities for repeat business. Even her website, she admitted, wasn’t keeping pace with her best work.

By identifying these weaknesses objectively, Elena was able to prioritize the improvements that could have the biggest impact on her business.

Opportunities

As Elena studied market trends and reflected on recent client requests, several promising opportunities emerged. 

She noticed a growing demand for sustainable retail spaces, perfectly aligning with her expertise. Restaurant owners were also increasingly seeking renovation services, an area where she’d already proven her capabilities. She was even receiving inquiries from clients in neighboring cities, suggesting potential for geographic expansion. Additionally, several clients had asked about quick-turnaround design consultations, hinting at a possible new service offering.

This analysis helped her focus on opportunities that aligned with her strengths while addressing her weaknesses.

Threats

Finally, Elena took a careful look at potential threats to her business. 

She’d noticed several new architecture firms moving into her market, increasing competition for projects. Contractor costs were rising steadily, putting pressure on project budgets. The retail sector, a significant source of her work, was facing economic uncertainty. Meanwhile, local building regulations were becoming more complex, requiring additional time and expertise for compliance.

Understanding these threats helped her develop strategies to protect and strengthen her business.

Creating your own SWOT analysis: A step-by-step guide

Now that we’ve seen how Elena uses SWOT analysis in her architecture practice, let’s walk through the process of creating one for your own business. Each step builds on the previous one, helping you create a thorough analysis that drives real results.

Step 1: Gather your data

Start by collecting concrete information about your business performance. Review your financial metrics, including revenue trends, project profitability, and cash flow patterns. (If you’re using Quicken, be sure to run these reports on your business finances.)

Beyond the financials, gather feedback from your clients and contractors. What do they say about working with you? What keeps them coming back? Also, take time to understand your market: who else serves your clients, what trends are emerging, and what changes might affect your business.

Step 2: Analyze your strengths

Look for patterns in your successful projects. Which services consistently generate the most profits or the most positive feedback? What aspects of your work do clients mention when referring you? Pay special attention to elements that set you apart from others in your field.

Consider tracking metrics that validate your strengths. For Elena, this meant documenting her project completion rates, budget accuracy, and client satisfaction scores. These numbers transformed general impressions into concrete proof of her capabilities.

Step 3: Assess your weaknesses

Approach this step with curiosity rather than judgment. Review projects that faced challenges or clients who didn’t return. Look for patterns in tasks you consistently postpone or aspects of your business that cause stress.

Use your financial data to spot potential issues. Are certain types of projects less profitable? Do some activities take more time than they’re worth? This objective approach helps you identify areas for improvement without getting caught up in self-criticism.

Step 4: Identify opportunities

Start with your current clients’ unmet needs. What additional services do they request? What challenges do they face that you could help solve? Review your market for trends that align with your strengths.

Consider both obvious and subtle opportunities. Elena discovered that her expertise in sustainable design opened doors to consulting work, creating a new revenue stream she hadn’t initially considered.

Step 5: Evaluate threats

Begin with external factors that could impact your business: market changes, new competitors, or shifting client needs. Then consider internal threats, such as capacity limitations or an overreliance on specific clients or contractors.

Document both immediate and potential future threats. This forward-thinking approach helps you spot challenges early while you still have plenty of options to address them.

Step 6: Create your action plan

Transform your analysis into specific, prioritized actions. Focus first on opportunities that leverage your strengths or address critical weaknesses. Create clear, measurable goals and set realistic timelines for achieving them.

Quick win: Your 20-minute SWOT starter

Want a rapid analysis that you can complete in just 20 minutes? Start by listing your three most successful projects from the past year and ask yourself these 3 questions:

• What made them work well? 
• What challenges did you overcome? 
• What opportunities do they reveal?

Take notes using a simple table with four columns: Strengths, Weaknesses, Opportunities, and Threats. Even this quick exercise often reveals surprising patterns and possibilities.

Tips for success

Creating a SWOT analysis is the first step — next, it’s time to put it to work. Here’s how to turn that analysis into results.

Keep it focused

Concentrate on factors that directly impact your business goals. Don’t get sidetracked by outliers, such as a single disgruntled client. Instead, look for patterns. This targeted approach keeps your SWOT analysis practical and actionable.

Use clear measurements

Track specific metrics that matter to your business, such as project profitability, client satisfaction scores, and response times. Review these numbers during each SWOT update to ensure your analysis reflects reality rather than assumptions.

Involve key people

Share relevant parts of your analysis with trusted contractors and gather their insights. Consider client feedback when evaluating your strengths and weaknesses. This collaborative approach enriches your analysis while maintaining appropriate professional boundaries.

Review and adjust

Update your SWOT analysis whenever you achieve significant goals or face new challenges — or use a quarterly cadence to keep it current. Pay attention to which actions create the most positive impact and adjust your strategy accordingly, keeping your analysis relevant and useful.

Link to long-term planning

Use your SWOT insights to guide major business decisions. When setting goals for the next year or evaluating new opportunities, refer back to your analysis. This connection between analysis and action helps you make confident, informed choices.

Scale your analysis as you grow

Adapt your SWOT process as your business evolves. Add new metrics when needed, but maintain the core simplicity that makes the tool so valuable. This balanced approach helps you gain sophisticated insights without getting lost in complexity.

Insights to results in just 30 days

For a 30-day SWOT action plan, try completing your first SWOT analysis and turning just one insight into an action plan that you would expect to make a difference within 30 days. Be sure to note any metrics that you expect to change—as well as what those metrics say today—so you can measure and track your progress.

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Every successful business has a secret weapon: a system that keeps everything running smoothly even when life gets hectic. For solo entrepreneurs and small businesses, that system is operational planning.

Whether you’re juggling client projects, coordinating your team, or trying to maintain consistent quality across your services, the right operational plan can transform daily chaos into manageable routines.

What is operational planning?

Think of operational planning as your business’s playbook — a practical guide that translates your big-picture goals into daily actions. 

It’s not about creating complex spreadsheets or lengthy documents. Instead, it’s about developing clear systems that help you deliver consistent value to your clients while making your business easier to manage.

Meet Marcus

“Marcus” is invented but his story is very real, based on many years of experience running more than one small business. As a solo IT consultant, Marcus built his reputation on providing exceptional technical support to small businesses. His expertise in solving complex IT problems earned him a growing client base, and he brought in a contractor friend to help handle the workload.

But success brought its own challenges. What started as an occasional need for extra help evolved into a network of specialized contractors, each with their own scheduling demands and working styles. Marcus found himself spending more and more time coordinating projects, making him feel stressed and overwhelmed by the business he used to love.

Quick check: Which of these sound familiar?

• Spending your weekends “catching up” on scheduling
• Never quite sure if your team will be available when you need them
• Struggling to maintain consistent quality when you can’t be everywhere at once
• Finding yourself reinventing the wheel with each new project

If you nodded along to any of these, you’re not alone. These were exactly the challenges that led Marcus to develop an operational plan that transformed his business.

What operational planning can do for a small business

Before creating his operational plan, Marcus’s typical week looked familiar to many business owners. Each work day brought at least an hour of back-and-forth messages about routine projects. Quality varied depending on which contractor handled the work, and potential clients sometimes slipped away because Marcus couldn’t confirm resource availability fast enough. He spent 2-3 hours on Saturdays fixing issues for clients, and Sunday nights meant another three hours of contractor scheduling and project coordination. 

The transformation didn’t happen overnight, but the results were dramatic. Today, Marcus spends just 15 minutes on weekly schedule updates. Daily contractor coordination takes 10 minutes or less. Service quality is consistent across his contractor network, and he has clear procedures that answer routine questions before they’re asked. Best of all, he can confidently take on larger projects, knowing his operational system can handle the complexity.

Take a moment to think about your biggest time drain right now. As we explore each component of operational planning, consider how these solutions might help you reclaim those lost hours.

What makes a good operational plan?

Before diving into the specifics, it’s important to understand what sets operational planning apart from other types of business planning. While both are essential, they serve different purposes and work on different timelines.

How it differs from a business plan

A business plan is your long-term strategy — your destination and the major milestones along the way. Your operational plan is your daily GPS, providing turn-by-turn directions to reach those milestones.

Marcus learned this distinction when planning his company’s expansion. His business plan outlined goals like “expand service offerings” and “increase monthly revenue.” His operational plan detailed exactly how to make that happen: which contractors to bring in, what training they needed, and how to maintain quality while scaling up.

Quick win: Your 15-minute operational planning starter

The breakthrough for Marcus came from a simple template that organized his daily operations. Start with these three questions:

1. What tasks do you repeat at least weekly?
2. Which decisions regularly slow you down?
3. What questions does your team frequently ask?

Track your answers for just one week. You’ll quickly spot patterns that reveal where an operational plan can make the biggest difference.

Components of an effective operational plan

A strong operational plan addresses four key areas: 

1. Service delivery standards 
2. Resource planning 
3. Timelines 
4. Risk management 

For Marcus’s IT consulting business, this meant creating clear procedures for common technical issues, establishing a reliable system for contractor availability, setting regular review points, and developing backup plans for when things don’t go as expected.

Which of these components would make the biggest difference in your daily operations? Keep that in mind as we walk through the steps of creating your plan.

Creating your operational plan: A step-by-step guide

Now that we understand what makes an operational plan effective, let’s walk through creating one that works for your business. We’ll follow Marcus’s approach, adapting it to work for any service-based business.

Service delivery standards

The foundation of any service business is consistent quality. For Marcus, this meant moving beyond the “it’s all in my head” approach to documenting exactly how his business delivers its services.

Start with your core services. Marcus listed everything from routine maintenance to emergency support, then documented his exact process for each one. This became his blueprint for training contractors and ensuring consistent quality.

He discovered that what seemed obvious to him wasn’t always clear to others. Simple things like how to greet clients, what information to collect during the first contact, and how to document solutions made a huge difference in service quality.

Reality check: When first standardizing his services, Marcus made the common mistake of creating overly complex procedures. Effective standards need to be detailed enough to ensure quality but simple enough to follow under pressure. Focus on what matters most to your clients.

Resource planning

As businesses grow, resource planning is critical. Marcus transformed his contractor coordination from a constant juggling act into a smooth system.

He started by creating a clear availability system. Instead of checking with each contractor individually for every new project, he built a shared calendar where contractors could mark their availability in advance. This simple change eliminated hours of back-and-forth communication.

Budgeting became another priority. Marcus started tracking his projects and expenses in accounting software, sending out auto-filled invoices as soon as each project was done. This proactive approach prevented unexpected expenses and helped him get paid faster.

For your own business, think about your three most frequent contractor coordination challenges. Often, the solution isn’t working more hours — it’s clearer communication and better systems.

Timeline and milestones

Effective operational planning requires the right rhythm of planning and review. Marcus found his sweet spot with quarterly goals broken down into monthly checkpoints and weekly routines.

His quarterly planning focuses on big-picture operations: reviewing contractor performance, updating service standards based on client feedback, and planning for upcoming technology changes that might affect his services.

Monthly reviews help him spot trends and adjust quickly. Do certain types of projects consistently run behind schedule? Do particular contractors need additional support? These regular check-ins help prevent small issues from becoming big problems.

Weekly routines keep daily operations smooth. Every Friday afternoon, Marcus spends 15 minutes reviewing the next week’s schedule and sending any necessary updates to his team.

Risk management

In IT consulting, Murphy’s Law is always in effect: anything that can go wrong, will go wrong. Marcus learned to build resilience into his operational plan through smart risk management.

He identified common bottlenecks — like contractor availability during busy seasons — and created backup plans. His network of contractors now includes specialists and generalists, giving him flexibility when scheduling gets tight.

Quality control became systematic rather than reactive. Instead of waiting for client feedback, he implemented regular check-ins during projects and standardized handoff procedures between contractors.

Signs to watch for: Is your team asking a lot of the same questions? That usually means your procedures need clarification. If you’re making the same choices over and over, that’s an opportunity to create standard guidelines. Finally, pay attention when similar problems crop up across different projects — there might be a gap in your operational plan.

Tips for success in operational planning

Creating an operational plan is one thing — making it work in the real world is another. Here’s what Marcus learned about turning plans into results.

Start with your biggest pain point

Don’t try to fix everything at once. Marcus started with his most time-consuming problem: contractor scheduling. By solving this first, he freed up energy and time to tackle other challenges. Pick the operational issue that costs you the most time or causes the most stress, and focus there first.

Keep it simple and accessible

Your operational plan should make work easier, not harder. Marcus keeps his procedures in a shared cloud drive where contractors can quickly find what they need. He uses checklists rather than lengthy documents, and he makes sure every procedure passes the “midnight emergency test” — could someone follow it easily and correctly during a crisis?

Build in feedback loops

The best operational plans evolve based on real-world feedback. Marcus sets up regular check-ins with his contractors and clients, actively seeking input on what’s working and what isn’t. These conversations often reveal simple tweaks that can make a big difference in efficiency.

Document as you go

Instead of trying to document everything at once, Marcus now makes it a habit to capture procedures while doing the work. When solving a new technical problem or creating a new service offering, he takes a few extra minutes to document the process while it’s fresh in his mind.

Measure what matters

Focus on metrics that directly impact your service quality and efficiency. Marcus tracks response times, project completion rates, and client satisfaction scores. 

Using Quicken Business & Personal, he also monitors key financial metrics like contractor expenses and project profitability. These numbers tell him whether his operational plan is truly working.

Plan for growth

A good operational plan should help your business scale. Marcus regularly asks himself whether his current systems could handle twice the workload. If the answer is no, he knows it’s time to refine his procedures or develop new ones.

For your business: Ready? Here’s your 30-day operational planning checklist.

• Week 1: Document your most time-consuming process
• Week 2: Set up a basic team availability system
• Week 3: Create templates for your most common client communications
• Week 4: Establish your weekly review routine

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Navigating taxes can feel overwhelming, especially if you’re self-employed and managing everything on your own. 

Unlike traditional employees, whose income taxes are automatically withheld from their paychecks, self-employed individuals are responsible for handling their own tax obligations. 

This guide walks you through the essentials of self-employment tax, from understanding who needs to pay it to tips for managing it effectively.

What is self-employment tax?

It’s important to understand that self-employment tax is separate from income tax. 

Income tax is based on your total taxable income and takes into account deductions, credits, and your tax bracket. Self-employment tax, on the other hand, is specifically for Social Security and Medicare contributions. Both taxes are calculated differently but must be paid simultaneously.

Who needs to pay self-employment tax?

If you’re self-employed, you’re generally required to pay self-employment tax. This includes anyone earning income as a sole proprietor, freelancer, independent contractor, or partner in a business. If you work for yourself and generate income, the IRS expects you to pay self-employment tax.

One important thing to note is the income threshold. If you earn $400 or more in net self-employment income during the year, you must pay self-employment tax. For church employees, the threshold is slightly lower at $108.28. Meeting these thresholds means you’re responsible for covering both the employee and employer portions of Social Security and Medicare taxes.

How is self-employment tax calculated?

Self-employment tax is based on your net earnings, which is your income after deducting allowable business expenses. This calculation ensures you’re taxed only on the money you got to keep — what was left of your business income after you paid your business expenses — not your gross income.

Current self-employment tax rates

The self-employment tax rate is 15.3%, which includes 12.4% for Social Security and 2.9% for Medicare. If your net earnings exceed $200,000 (or $250,000 for married couples filing jointly), an additional 0.9% Medicare tax applies.

Deductions available for self-employed individuals

One of the perks of being self-employed is access to deductions that can lower your taxable income. Here are some of the most common deductions.

Self-employment tax deduction

You can deduct 50% of the self-employment tax you pay. This reduces the impact of covering both the employee and employer portions of Social Security and Medicare taxes.

Home office deduction

If you use part of your home exclusively for business, you can deduct related expenses such as rent, mortgage interest, utilities, and maintenance costs.

Business supplies and equipment

Items like office supplies, computers, printers, and software necessary for running your business can be deducted.

Travel expenses

Costs for business-related travel, including airfare, lodging, rental cars, and meals, are deductible. Ensure these expenses are exclusively for business purposes.

Vehicle expenses

If you use your car for business purposes, you can deduct either the standard mileage rate or the actual costs of operation, such as gas, insurance, and maintenance.

Health insurance premiums

Self-employed individuals can deduct the cost of health, dental, and long-term care insurance for themselves, their spouse, and dependents.

Retirement contributions

Contributions to retirement accounts like a SEP IRA, SIMPLE IRA, or Solo 401(k) are deductible, helping you save for the future while lowering your taxable income.

Professional services

Fees paid to accountants, attorneys, or consultants for services directly related to your business are deductible.

Education and training

Costs for courses, certifications, or seminars that improve your skills or knowledge in your field can be deducted.

Advertising and marketing

Expenses for promoting your business, such as website development, digital advertising, and business cards, are deductible.

Internet and phone services

The portion of your internet and phone bills used for business purposes can be deducted.

Business insurance

Premiums for business-related insurance, such as general liability, professional liability, or commercial property insurance, are deductible.

Membership fees

Costs for joining professional organizations, industry associations, or networking groups are deductible if they relate directly to your business.

Interest on business loans

Interest paid on loans or credit cards used for business purposes is deductible.

Depreciation of assets

If you purchase equipment or property for your business, you may be able to deduct the cost over several years through depreciation.

Keeping detailed records of your expenses is essential to ensure you claim all the deductions you’re entitled to and reduce your overall tax burden.

Quarterly estimated tax payments

Because self-employed individuals don’t have taxes automatically withheld, the IRS requires quarterly estimated tax payments to cover both income tax and self-employment tax.

When to make estimated tax payments

Quarterly payments are due four times a year: April 15, June 15, September 15, and January 15 of the following year. If you don’t pay enough throughout the year, you could face penalties, even if you catch up when filing your annual tax return.

How to calculate quarterly payments

To calculate your quarterly payments, estimate your total income, deductions, and taxes for the year, then divide this amount into four equal parts. The IRS provides Form 1040-ES, which includes worksheets to help you calculate these amounts. Many self-employed individuals find it helpful to work with a tax professional or use accounting software to ensure accuracy.

Managing self-employment tax effectively

Managing self-employment tax requires discipline and planning, but it doesn’t have to be stressful. One of the best strategies is to set up a dedicated tax savings account. Each month, deposit a portion of your income into this account—ideally 25-30%—to cover your estimated tax payments.

By regularly setting money aside, you’ll be prepared when quarterly payments are due, avoiding the financial strain of scrambling to find the funds. Additionally, keeping your tax savings separate from your everyday business accounts helps you stay organized and reduces the temptation to spend the money on other expenses.

Using tools like Quicken Business & Personal and working with a tax advisor can also streamline your tax management. These resources can help you track income, calculate payments, and ensure compliance with IRS requirements, giving you peace of mind and more time to focus on growing your business.

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The right business mission statement can be a powerful tool for success. It serves as your north star, inspiring your clients while guiding your day-to-day decisions. 

Ready? Let’s explore how to create the perfect mission statement for your business.

What is a mission statement? Definition and purpose

At its heart, a mission statement is a concise declaration of your business’s fundamental purpose and unique value. It answers three essential questions:

• What does your business do?
• How does it do that in a unique way?
• Who does it serve, and why?

To see how it works, let’s walk through an example. 

Meet Kira, a freelance web developer who struggled to differentiate herself in a crowded market. Like many service professionals, she took on any project that came her way — that seemed like the best way to make money and grow. But she often felt like she was scrambling to bring in new business, and, after a while, she started to feel disconnected from her work.

Fortunately, that changed when she developed a clear mission statement, helping her focus on her ideal clients and the unique value she provides. 

This post walks you through that process.

Key components of an effective mission statement

Just as every successful business has distinct elements that make it work, every strong mission statement contains key components that give it power and purpose. 

Understanding these components helps you create a statement that’s not just inspirational, but also practical and meaningful. 

Let’s examine each essential element and see how they work together to create a mission statement that drives your business forward.

What does your business do?

For a mission statement, what your business does goes beyond your day-to-day operations — it’s about the fundamental impact you want to have. 

Through the process described below, Kira realized her core purpose wasn’t just building websites — it was building accessible websites. This shift in perspective transformed how she approached her work and communicated with clients.

How do you do that in a unique way?

What makes your business different? Your mission statement should reflect your unique approach or philosophy. 

At first, Kira didn’t think there was anything unique about what she did. She thought she was just building websites. But the process of creating a mission statement helped her realize that she had a genuine passion for working with authentic brands, and helping her clients showcase that authenticity in a digital environment.

Who do you serve, and why?

A strong mission statement clearly identifies who you serve. (Marketers talk about this as your “target audience.”) The question goes beyond demographics. It’s about understanding the specific problems and aspirations of your ideal clients — who you want to help, and why.

Kira realized that she loved working with small business owners who value accessibility and authenticity, and she loved helping those clients succeed. Those kinds of projects made Kira feel more connected and engaged in her work.

Steps to creating your mission statement

Creating a meaningful mission statement isn’t about following a template or copying competitors. It’s about discovering and articulating what makes your business uniquely valuable to your clients. 

Let’s break down the process into manageable steps, demonstrating what it looked like for Kira.

Understanding your business

Start by answering these fundamental questions:

• What specific problems do you solve for your customers or clients?
• Who are your favorite customers or clients and why?
• What impact do you want to have on your customers’ lives?
• What makes your approach different?

Kira started with a journaling exercise, answering the questions above for each of her favorite clients and projects. She wrote about what she did specifically for each of them, what she enjoyed most, why she was excited about the value she had provided, and what unique talents, experiences, and perspectives she felt she had brought to each one.

In several cases, she wrote about the joy of seeing small business owners’ faces light up when they saw their authentic brand voice come alive online. She also noted how she loved making complex technology accessible and using it to help businesses build genuine connections with their customers.

Identifying what matters

Next, look for patterns in your most successful and satisfying client relationships. What elements made these experiences positive? These insights often reveal what truly matters in your business.

As Kira read through her answers for each of her favorite clients and projects, several patterns emerged. She realized she enjoyed doing more than solving technical problems — she loved helping small businesses find their authentic voice online. 

She recognized that her approach focused on making technology accessible and using it to tell genuine brand stories. And she discovered she was driven by seeing local businesses thrive in the digital space.

Putting it into words

The next step is to create a rough draft that summarizes what you’ve learned so far. Don’t try to fit any particular length or format. The point is just to get all your thoughts down.

For Kira, her rough draft looked something like this: 

“I help small businesses succeed online by creating accessible, authentic websites that showcase their unique brand voice and build lasting connections with their customers. Using my expertise in inclusive design and brand storytelling, I transform technical challenges into opportunities for genuine connection and growth. I believe every small business deserves a website that truly reflects who they are and helps them thrive in the digital world, and I love seeing that potential come to life.”

Making it clear and short

Finally, refine your draft by:

• Eliminating jargon and buzzwords
• Consolidating any common elements so they don’t repeat
• Keeping it under 30 words — focusing on the most important elements
• Making it memorable and specific

Here’s how Kira refined her own draft into a polished mission statement: 

“I create accessible websites that showcase authentic brands, helping small businesses thrive in a digital world.” 

She achieved exactly what a great mission statement should do — clearly stating: 

• what she does (creates accessible websites)
• how she does it uniquely (showcasing authentic brands)
• who she helps and why (helping small businesses thrive in a digital world)

Each word serves a purpose, making the statement both concise and complete.

3 kinds of business statements: Mission, vision, and values

Before you dive into your own mission statement, let’s finish up by clarifying how a mission statement differs from other types of business statements. 

Understanding the differences between mission, vision, and value statements can help you make sure your mission statement stays laser-focused on its intended purpose.

Mission statement

Your mission statement should be your compass, guiding your day-to-day operations and decision-making. It defines your current purpose and communicates the immediate value you provide to your customers.

Example: “I create accessible websites that showcase authentic brands, helping small businesses thrive in a digital world.” 

• Describes what you do today and why
• Guides daily decisions and actions

Vision statement

Think of your vision statement as your business’s aspirational destination. It paints a picture of what success looks like in the future and provides motivation for growth and development.

Example: “To become the go-to web development partner for purpose-driven small businesses across North America.”

• Describes what you want to become
• Guides long-term, strategic decisions

Values statement

Your values statement outlines the fundamental beliefs and principles that shape how you conduct business. It serves as the foundation for your company culture and business practices.

Example: “I believe in honest communication, inclusive technology, and the value of collaboration.”

• Defines core beliefs and principles
• Guides your company culture and behavior

Tips for creating an impactful mission statement

Creating your mission statement might take several attempts — these practical tips can help you stay on track.

Start with active verbs

Strong mission statements often begin with action words that clarify what you do. Instead of “My business provides…” try starting with active, first-person phrases like “I create,” “We build,” or “We help.” This approach immediately communicates your core activity and engages your reader.

Focus on outcomes, not processes

While your day-to-day work matters, your mission statement should emphasize the results you create for clients. For instance, Kira doesn’t mention her coding skills or design process — she focuses on helping businesses “thrive in a digital world.”

Test it with others

Share your draft mission statement with trusted colleagues or clients. Ask them specific questions like:

• Is it clear what I do?
• Does it sound authentic to what you know about my work?
• Does it feel memorable?
• Would it make you want to learn more?

Keep refining

Your first “final” draft rarely ends up being your final version. Set your mission statement aside for a day or two, then return to it with fresh eyes. 

You may also find that you need different lengths for different uses. An “Our story” section on your website might deserve 50 or even 100 words. But on your LinkedIn bio, you might shorten it to: “I help small businesses thrive in a digital world.”

Watch your language

It’s easy for industry jargon to sneak into our writing. While terms like “optimize,” “leverage,” or “synergize” might be part of your daily vocabulary, they can make your mission statement feel corporate and impersonal. 

Instead, use clear, direct language that any client would understand — words that communicate your value without creating distance between you and your clients.

Make it work for you

A mission statement isn’t just a line to put on your website — it’s a practical tool that can make your business stronger and more focused every day. 

Refer to it when you make business decisions, share it naturally in conversations with potential clients, and use it to evaluate new opportunities. 

Finally, revisit it as you start each new year to make sure it still reflects where you are today. The best mission statements grow with your business while keeping you anchored to your fundamental purpose.

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