Posts Tagged ‘Costs’
3 Things Entrepreneurs Forget When Launching Their Startups
They say that 96% of all businesses fail during their first 10 years, and this incredible statistic highlights the universal challenging facing commercial ventures in the digital age. Attempting to mitigate these risks and challenges can be exceptionally difficult for entrepreneurs, who must manage a number of individual elements if they’re to launch a successful…
Read More5 Ways to Reduce Costs and Improve Business Performance
Technology’s continuous advancements have torn apart the barrier between and among nations. Thanks to ecommerce, individual industries now operate their respective businesses within a circuit of globalized market systems. Unfortunately, such ecommerce has resulted in business opportunities as well as threats. Ecommerce has made transacting business between and among individuals of diverse locations and entities…
Read More6 Hidden Business Startup Costs
Starting a business is exciting! You’re finally ready to bring your dreams to life, become your own boss, and strengthen your local business community. You’ve got everything figured out…at least, you’re pretty sure you do. But with a new business come lots of startup costs, and you want to be sure not to overlook them.…
Read MoreHow to Find Out What You’re Actually Spending on Customer Acquisition
Getting a new customer isn’t easy, but it can be done. Before you break out the bubbly to celebrate, however, you’ll want to know how much money you spent to actually get that new customer. Talk about a complicated undertaking! As an accountant and former CFO, I’ve gone through this exercise with clients and former employers, but tackling…
Read MoreStartup and Organization Costs
When starting a business, the owners are likely to incur two classes of costs that are not normally encountered in the ongoing operations of the business and should not be included as operating expenses. These are startup expenditures and organization costs. Each of these are specifically defined and receive special tax treatment. Startup expenditures are…
Read MoreThe Best Things Small Businesses Can Do to Reduce Overhead
Running a small business is much different than operating a Fortune 500 company. You may have limited resources when it comes to how much you make in a month or year as well as face limitations as to outside funding sources. If you don’t manage your overhead, the company could lose significant amounts of money…
Read MoreHow Much Does a Franchise Cost?
So you’re ready to start a franchise. Congratulations! Still, one thing might be holding you back – the franchise cost associated with starting the business of your dreams. There’s more than meets the eye when it comes to starting a franchise. Here’s a more accurate look at what a franchise costs to start. #1. The…
Read MoreHow 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 and why we use forecasting to help manage a business, and to predict starting costs and the numbers for the…
Read MoreHow Much Does SEO Cost, Anyway?
The current business climate makes SEO all but a necessity. According to a survey by Yelp, 85% of people searching for the product or service that you offer will begin their hunt online. If your website isn’t coming up when someone types in those keywords, you better believe those customers are going to go somewhere…
Read More5 Ways to Reduce Business Costs in 2016
There is no doubt that running a business is expensive. This is an inescapable truth of entrepreneurship. This doesn’t mean, however, that you can’t do anything to curb your overhead or that you have to accept the status quo. There are plenty of tricks you can use to reduce what your business spends and, by…
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