Improving Your Profitability

Input Efficiency The first aspect of business operations is to examine input efficiency. This is commonly measured by knowing how much cost you incur for everything you sell. It goes beyond calculating overall gross profit by deducting from sales revenue the direct costs to manufacture or acquire goods. The truly useful figures are gross profit […]

Stop Fearing the Cash Flow Roller Coaster

As you know, starting your own business isn’t for the faint of heart, and you didn’t take the plunge because you enjoy leisurely amusement park rides. So stop fearing the roller coaster ups and downs of cash flow. Understanding your business cash flow allows you to plan ahead and gives you a high comfort level […]

How a Working Budget Benefits Your Business

Many microenterprises and solopreneurs believe they are too small to need a working budget. Some start-up owners who are busy launching their operations think it’s a waste to spend time developing one. And some small and medium-sized enterprise owners reason: “It’s just a shot in the dark, anyway.”But no matter how small or entrepreneurial your business, […]

Buying a Business? How to Establish the Value of Goodwill

Goodwill is the value of a business to a purchaser over and above the net assets of the business in question. Ultimately, goodwill is a reflection of the intangible portions of the business, such as reputation, brand name, customer relations and employee morale as well as other factors that improve the company name. When a […]

What to Look For When Hiring an Accountant

As business owners, we share one common goal – growing our business. Although you may be an expert in your field and you have an all-star sales team, your full time CFO is crunching numbers in the back without letting you know what exactly your current financial status is. Even though you are winning bids […]

Should You Become the Face of the Company?

In today’s world, people often base purchasing choices, employment decisions and investment picks on their opinion of an organization’s top leader. Think of Martha Stewart, Steve Jobs or Meg Whitman. A company’s reputation is closely linked to that of its chief executive officer (CEO), and the credibility of the top banana greatly influences whether people […]