The income statement is a financial statement that reports on company revenue, expenses, and net income as of a specific time period, such as a month or year. The income statement is directly connected to the balance sheet, […]
Underpricing your product or service can be dangerous to your bottom line. Nellie Akalp, entrepreneur and founder of CorpNet.com, explains that: “Even though you might land the sale, underpricing your products and services comes at a cost. […]
Successful business owners learn from their mistakes. The effort required to operate your business may seem overwhelming, and you have to make a multitude of decisions every month. Once the month is over, you may […]
It’s difficult to keep all the balls in the air, when you’re trying to manage your business. It’s great to have a number of projects in the field, but working multiple projects presents some real […]
Successful business owners create an annual budget and compare the budgeted amounts to actual results each month. This process is the best way to make smart business decisions and increase profits during the year. However, […]
Do you really know how to price your product or service? What assumptions are you making about your costs? Are you pricing your product so low that you’re not making a consistent profit? As Entrepreneur.com explains: “Generally, the more you know, […]
Do you control your business, or is your business controlling you? Gino Wickman, an author and business consultant, finds this lack of control as a common frustration with entrepreneurs. Gaining control over your business requires time, and […]
Customers demand convenience. If your business can’t make the buying process quick, easy, and convenient, customers will go somewhere else. There are lots of examples that illustrate this point, including the demise of Toys “R” Us. The […]
It’s little surprise that many of America’s 45 million student loan borrowers are looking to loan forgiveness programs to ease their burden. But while loan forgiveness sounds like a dream come true, you might be waiting a while: Some […]
Is an international business strategy the next step for your small business? Expanding into new global markets can dramatically boost sales and profits, but it also requires careful planning. Don’t get bogged down in overly complex […]