Finance
Evaluate All Your Products and Services Each Year
“Cut your losses and let your profits run.” ~Proverb Many businesses fall into the trap of assuming that products or services generating great sales revenue are also profitable. Truthfully, you cannot tell which products and…
How to Do Due Diligence on Investors
This is my Quora answer to “How do I perform due diligence on investors?” Choose an Investor Like You Would a Spouse I’m so glad you asked this question, because it’s really important and vastly…
Freelancers: Update Your Invoices to Look More Professional
One of the biggest challenges you’re facing as a freelancer is managing your own admin. There’s no HR department that does the dirty work for you—you’ll be responsible yourself for managing your projects, logging receipts…
How to Perfect Your Payroll Process
Small businesses need to receive revenue to survive, but they also need to provide payroll to maintain a dedicated workforce. Payroll is an important business asset that needs to be done right, so here are…
Take Control of Your Small Business: Balance Your CAC and LTV
Small business owners focused on merchandising for the next major shopping holiday and worried about making next week’s payroll often have a difficult time taking a step back and looking at longer-range goals. Failing to…
Local Revenue vs. Online Revenue, or Both
If you are trying to keep your business local, there are several ways to do it. You can do it without doing business online at all, of course, but sometimes a mix of being online…
The Ins and Outs of Applying for a Small Business Term Loan
When most people are in the market for a small business loan, they think of a 3-5 year term with monthly payments. The problem with the business lending industry is that many business lenders are…
How to Forecast Sales and Profits Without Just Guessing
Yes, it’s—my title here—a real question, and I get it a lot: how to forecast sales and profits without just guessing. It’s a good question too, because it leads to a better understanding of how…
How to Take Charge of Your Spending Habits
Spending: Regardless of the size of your business, it is always a concern. Unfortunately, many businesses focus on spending only when income is down; too often, this is the worst possible time to be making…
10 Steps to a Successful Pricing Strategy
During the price strategy planning processes, companies assess past strategies, analyze how well each did, and plan prices for the upcoming year, eagerly anticipating a significant impact on the bottom line. After all, a 1%…
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