If you have gone through the hassles of incorporating your business, separating your personal affairs from your business affairs (which includes having both personal and business bank accounts), then you know that creating a new business entity has a […]

When calculating the cost of a new hire, it’s important to note wages are merely the base cost of hiring an employee. As an employer, you also have to make Canada Pension Plan (CPP) contributions, […]

An income statement, otherwise known as a profit and loss (P&L) statement, is a critical financial document for your business. Income statements produce a clear snapshot of all of your business activities, allowing you to […]

Did you lose a week of billable hours last tax season because you spent time sorting through all your credit card charges and paper receipts to figure out how many of your purchases were business […]

Despite unparalleled success initially when founder Sophie Amaruso turned an eBay business into a $300 million company, the brand ended up filing bankruptcy in 2016. Their main problem sounds simple: Nasty Gal spent freely on advertising and marketing (as […]

For businesses with multiple warehouses, thousands of items in inventory, and complex supply chains, moving to available-to-promise (ATP) supply chain management can transform a company. In the ’90s, Walmart and Kmart were in a brutal […]

You’re out there every day. Getting up at the crack of dawn to prep your ingredients and menus, filling up your mobile food truck with gas, and making a few calls before the lunch rush […]

You want to turn your hobby into a business. That’s the dream. Or is it? Transforming your favorite past-time into a full-time job full might sound like the secret to a happy and fulfilled life—both […]

The idea behind lean manufacturing, also called lean production, or just “lean“ is simple: Cut waste out of the manufacturing process while maximizing productivity. No matter what type of business you run, you can still […]

Spending money is a necessary part of building a business. Business owners can attribute many costs to producing or creating a product or service. These are known as direct costs. The expenses that are not […]

It’s no secret that small businesses play a vital role in the US economy. However, revenue for small businesses can be scarce. For instance, small businesses that do not have any employees average just $44,000 a […]

If you’re an entrepreneur or small business owner, you may not realize how unlikely a new product is to succeed. Clayton Christensen, a professor at Harvard Business School, says that of the roughly 30,000 new consumer […]

If you’re an artisan or maker, you might dream of hitting a home run with a large retailer or national big box store. Creating something worth buying is every entrepreneur’s first challenge. After that, most […]

Over a decade ago, Gallup discovered that the average small business owner works 52 hours a week. 39% put in over 60 hours. And 86% work on the weekends. Fast forward to today and those numbers have […]

Summer’s here! But that doesn’t mean the same thing when you’re running your small business as it did when you were in school, does it? As a small business owner, you don’t have the luxury […]

The definition of “invoice” according to the Merriam-Webster English dictionary is, “an itemized list of goods shipped usually specifying the price and the terms of sale.” As a self-employed freelancer or small business owner, knowing how to […]

Ready to take your business to the next level but aren’t sure how to do it? These startup founders were once in that same spot, but all of them went on to build bigger, better […]

Any small business owner would go to great measures to avoid a tax audit. Although the possibility of being audited is relatively low, you can’t afford to be ill-prepared. If the IRS does decide to […]

Winning the lottery isn’t the only way to earn a lot of money with minimal effort on your part. And you don’t need hundreds of thousands of followers on social media to earn money online, […]

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 […]

Credit cards have evolved into the most common method of consumer payment, with nearly 60% of U.S. consumers using credit cards over cash, according to a recent report by the Federal Reserve. Some businesses offer […]

When you prepare to sell your business, you want advisors who will address issues including management succession, potential acquirers, tax issues, the best deal structure, the best negotiation approach, how to reward your employees, and […]

Ready for a challenge? Of course you are— you’re a business owner after all. How about a challenge to establish and build business credit in less than two weeks? If you’re like many of the […]

I want to tell you a story, about three cupcake stores… Kara’s Kupcakes sold delicious cupcakes and was known for being the most affordable cupcake store in town. Amidst the perpetual line snaking out of […]

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, […]

Raise your hand if you want to get paid faster. Yes, all hands raise, I presume? A method of payment that you might be overlooking is the eCheck. Here’s everything you wanted to know about […]