Owning a successful business may depend on the tools you use to keep your business running.  There are five tools that will be discussed below.  These tools can be used to help you in your business, whether you are starting a new business or continuing in the business you have.  For current business owners you may know about many of these tools, but there may be something you did not know regarding one of the tools below.

• Business Loan Calculator is the first tool.  You may be looking for a business loan or you may already have one.  The business loan calculator can help you in a number of ways.  First the calculator can help you determine if you can afford to get a new loan.  You can enter in the amount of the loan you want, what you think the interest rate could be, and the length of the loan.  It will then show you the amount of your payment.  If you already have a loan it can show you what would happen if you decided to increase your monthly payment.  It helps you plan better financially for situations like paying expenses, wages, and of course any loan you might have.

• Business Loans vs. Cash Advances is something you may have to consider.  A business loan will provide the better interest rate; however sometimes it is more difficult to find a bank that will loan you the money.  Business loans are a great tool for an established business since the bank is more willing to lend you the money you need.  Your business will have a history and credit score to run.  A newer business may see half a dozen banks before one is willing to loan you the money you need.  With a cash advance you spend more on interest for a shorter term loan that needs to be paid back immediately.  Though a viable option for a business that cannot get a loan this tool is not always the best one to seek.

• Credit Card Machines help you make sales.  If you have yet to look into a viable credit card processing company and terminal now is the time.  More and more consumers are using debt and credit cards for transactions, especially online.  If you are using PayPal for your sales you are missing out on potential consumers.  Credit cards are highly easy to use online and relatively cost effective once you have the security and service in place.  We are going to continue to use credit cards and debit cards rather than cash or checks.  Shop around for the right company for credit cards.

• Business Plans anyone beginning a business needs to have a business plan.  It is a tool that you will need to get a business loan, grow your business and overall succeed.  A lender is going to want to see your business plan.  Furthermore they will not want to see a business plan you created five or ten years ago.  The business plan you show to a lender needs to be up to date and reflect the changes you wish to make with the loan.  It is also a good idea for you.  An up to date business plan allows you to look at your business performance objectively and decide if changes need to be made.  At least once a year you should examine your business loan and make adjustments.

• Advertising is going to encompass our last tool.  Advertising tools include a great many options.  For advertising you can use television, billboards, buses, bus stops, magazines, newspapers, and a host of online tools.  AdWords, Social Media Sites, and many more online tools are available to help you advertise your business.  Failure to use the online tools will increase your advertising budget.  Most people look online at newspapers, social media sites, and pay per click ads to find goods they need.  Advertising online is less expensive than the television, radio, or bus ads you can purchase.

In business there are numerous tools you should be using to make it successful.  These five tools are just some of the options you have.  While you may know they exist you now have concrete information for how they can help.