For many years, the word inventory has been a dirty word in the world of business. Factories expect their parts to show up at the docks and head directly to the assembly line. Management teams at retail stores want fashion that arrives ready to display and sell. The idea of devoting space to unsold and Read More
Small business owners sometimes neglect to keep a watchful eye on their business accounts. After all, there is a lot to do when you are running your own business. Even so, it is advisable to carry out a financial health check occasionally to ensure that your small business is healthy and on track. Here is Read More
The smartest way to use the profits from your business is to reinvest them back into your business. Not only will reinvesting in your business result in further growth, but it can also help your business run much more smoothly. However, you need to ensure that you find the best ways to reinvest your business Read More
As the COVID-19 pandemic begins to wind down, many companies are looking at a graduated return to work (GRTW) program that will slowly allow them to resume normal operations. Understanding how to implement your company’s GRTW plan can help you to avoid any mistakes or pitfalls. Here are some key points to consider when creating Read More
When you run your own business, not every opportunity is a good one. Sometimes you might want to politely decline some type of offer. How you do this without burning any bridges or hurting your reputation can be a challenge. Here are a few things to keep in mind.
When to Say No
When deciding whether or Read More
With more employees opting to work from home, many small businesses are either looking to downsize or to take advantage of very affordable commercial lease rates. Your ability to make the best possible deal on the lease terms for commercial space can make or break your business. Whether you’re a new business or an established Read More
Getting a business partner as an entrepreneur is a massive commitment. Whoever you have at your side will, ideally, stick with you until the current venture ends. They are part of your core team and will play a huge part in the startup’s growth and success. That kind of commitment cannot be taken likely. Here Read More
Pricing your products and services can be difficult. If you set your prices too low, you may not cover your costs. If your sales prices are too high, you may not make the volume of sales that you need to be profitable. Here are ten tips to help you get the price right for your Read More
Managing inventory can be a challenge. If your inventory levels are too high, you are tying up cash and creating cash flow problems. If you let stock run too low, you will have difficulty filling sales orders. Effective inventory management, then, is crucial to profitability.
Many businesses fail to manage their stocks of raw materials and Read More
The holiday season is both a blessing and a curse for entrepreneurs around the world. Don’t let the complications that surround this holiday season distract you from the impact you can create in this month. Here are three things you and every entrepreneur should do:
1. Give Thanks
The success of your business isn’t just down to Read More
