Profit engineering is all about managing risk both on the upside and the downside and discovering your target profit goals via cost volume profit analysis.Although a manufacturing company will … [Read more...] about Profit Engineering, A Cost Volume Profit Analysis. Investing For Growth And Surviving Loss Of Revenue In A Manufacturing Company
Take Back Control of Your Revenue
Sales revenue is the fuel for your business. The revenue from sales allows the business to generate profit, value, and ultimately freedom for business owners. Do you feel that you are not in control … [Read more...] about Take Back Control of Your Revenue
How To Improve Cash Flow When Your Business Is Growing
Cash flow is basically what describes what comes in and comes out of a business treasury, such as income from sales and/or bill payments. Its’ importance lies in the fact that it allows us to quickly … [Read more...] about How To Improve Cash Flow When Your Business Is Growing
How To Increase Revenues Through Market Segmentation
Sales revenue is the fuel for your business. Developing a product or service that provides value that customers will pay for is what businesses strive for. The revenue from these sales is what … [Read more...] about How To Increase Revenues Through Market Segmentation
Maximizing Your Supply Chain Advantage
Every business relies on other businesses to provide materials, products, and services to accomplish your mission. These relationships are collectively referred to as your supply chain. They supply … [Read more...] about Maximizing Your Supply Chain Advantage
How Accounts Receivable Impact Cash Flow and Net Profits
The extension of ‘credit’ is often very lax in the startup phase of a business, and usually, no written policy exists. Past due accounts receivable is often a result of not clearly defining the … [Read more...] about How Accounts Receivable Impact Cash Flow and Net Profits
How to Assess Revenue vs Profits for Business Health
Why to Learn How to Assess RevenueWall Street judges you on it. Shareholders demand it. Management scrambles to make it happen. Revenue growth is the mantra of modern-day business. Quarter by … [Read more...] about How to Assess Revenue vs Profits for Business Health
Increasing Profitability In A Organization
A challenge facing owners and managers of all businesses is how to increase the profitability of the company. The focus almost always turns to increase sales revenue. The strategy is to increase sales … [Read more...] about Increasing Profitability In A Organization
Is Pricing Your Problem? Opening the Door to Higher Profitability
In startup and established businesses, the need to maintain a consistent revenue flow is constant pressure on management. In responding to the demands of management, sales efforts for any shortfall … [Read more...] about Is Pricing Your Problem? Opening the Door to Higher Profitability
80% of Failing Businesses Have Poor Job Costing
Job costing is where your revenue comes from. Poorly designed bidding structure and job costing means that profit margins are decreased or even nonexistent. Conversely, a well designed structure will … [Read more...] about 80% of Failing Businesses Have Poor Job Costing
Two Ways to Make Your Business More Successful
You know what is odd? Nobody expects successful experts - doctors, electricians, sports figures, lawyers, plumbers - to just wing it. We know they put a lot of time into learning about and training … [Read more...] about Two Ways to Make Your Business More Successful
How to Increase Profits Without Raising Prices
While it's undoubtedly true that one way to increase profits is to raise your prices, it's rarely the most reliable. It can be difficult to predict the effect price increases will have on your sales … [Read more...] about How to Increase Profits Without Raising Prices
Revenue Growth Through Product Development
Difficult times often require rethinking a company's products and markets to maintain or grow revenue. These last months have certainly been a time for owners to review their business model and … [Read more...] about Revenue Growth Through Product Development
7 Ways that Technology Increases Profits
Guest post about using technology to increase productivity and profitability in a business.Technology has greatly evolved in almost all aspects of life, and workplaces have not been left out. … [Read more...] about 7 Ways that Technology Increases Profits
Break-Even Point: The Secret To Success
Business owners who do not know their break-even point will eventually find themselves asking,"I’m making money, so how come I don’t have any?”The answer for most owners is simple - because you … [Read more...] about Break-Even Point: The Secret To Success
More Profit: Earn More Profit Than Last Year In 6 Steps
With the new year just underway, everyone is talking about New Years Resolutions, and every business owner has the same one: Earn More Profit than last year. Business owners often look at a new year … [Read more...] about More Profit: Earn More Profit Than Last Year In 6 Steps
From Behind the Desk: Profit
PROFIT - (or lack thereof). For purposes of this article we will be discussing net profit, not gross profit. Net profit, minus taxes, is what you get to keep; it's what you can put in the bank. While … [Read more...] about From Behind the Desk: Profit
Want More Sales? Improve your Brand
The idea to improve your brand isn't new, but it can be a confusing concept for business owners. People think of branding as an “it.” They believe a thing (i.e., website, logo, catchphrase, … [Read more...] about Want More Sales? Improve your Brand
Net Cash Flow for Small Business Owners
Net Cash Flow for an SMB/E is a critical component of a correct cash flow analysis. To make a correct Net Cash Flow for an SMB/E the SMB/E’s accounting needs to be in at least good order. In general, … [Read more...] about Net Cash Flow for Small Business Owners
One Page Business Plan
A one page business plan is a document that in a short form format identifies what the business is about and how it will succeed. In today's business environment, the need for concise and … [Read more...] about One Page Business Plan
3 Steps to Effective Time Management
“Time Management” is one of those phrases that a lot of people throw around, but very few know what it means, and even less practice effective time management.The concept of time management is not … [Read more...] about 3 Steps to Effective Time Management
What Banks Want You To Know About Money
When it comes to working and growth capital, business owners get frustrated with banks and banks get frustrated with business owners.Banks get frustrated with owners who expect to get a loan or line … [Read more...] about What Banks Want You To Know About Money
Company Vision Should Emphasize Customer Service
How can you create a customer-centered culture that promotes quality customer service? This is one of those things that a lot of owners have heard about, sort of know they need but have no idea how to … [Read more...] about Company Vision Should Emphasize Customer Service
Train Your Mind for Business Success (Part 2)
You know the old saying, “If all you have is a hammer then everything looks like a nail.” It reminds us that we need several tools in our “successful business toolbox” to get the job done right. We … [Read more...] about Train Your Mind for Business Success (Part 2)
Train Your Mind for Business Success (Part 1)
Are you looking for the secrets to long term business success? If so, you are not alone, many business owners are. You know that success can be hard to find, and is even harder to … [Read more...] about Train Your Mind for Business Success (Part 1)
Plan for a Successful Capital Investment
There are many “things” a business owner needs to grow a company successfully. Some of them include equipment/machinery, warehouse/office/shop floor space, trucks, a new product line, land, etc. In a … [Read more...] about Plan for a Successful Capital Investment
How to Deliver More Net Profit for your Business
Despite what you hear on the news, small business owners are thriving in very real ways. This article details three client case studies on how these small business owners have successfully delivered … [Read more...] about How to Deliver More Net Profit for your Business
Four Strategies for Managing Cash Flow
Did you know that profitable, growing businesses regularly go bankrupt? One main reason is cash flow mismanagement. The typical business owner is not trained for, nor understands cash flow management. … [Read more...] about Four Strategies for Managing Cash Flow
Diversification – Stack the Deck in Your Favor
Too many businesses stagnate, decline or fail because they are not adequately diversified. Diversification is one of the most challenging decisions a company can make, which is why most business … [Read more...] about Diversification – Stack the Deck in Your Favor
“Are You Ready to Sell Your Business?” Checklist
Are you an owner who is thinking of selling your business? If so, do you know how to sell your business?If you are like a lot of owners the answer to the first question is, “Yes, I’m ready to go … [Read more...] about “Are You Ready to Sell Your Business?” Checklist
Cash Flow 101: Introduction for Business Owners
Cash flow planning is one of management’s most important, ongoing duties. In a simple comparison, Cash Flow is like checking your bank statement for money going in and money going out every … [Read more...] about Cash Flow 101: Introduction for Business Owners
Pricing Methodologies and Strategies
Establish Price based on Gross Margin One effective means of establishing selling price is based on gross margin. Using this approach, it is imperative that you have a good understanding of all the … [Read more...] about Pricing Methodologies and Strategies
Make Your Goals Happen
When you ask business owners why they started their companies you get a variety of answers - personal satisfaction, freedom, security, create a legacy, control, responsibility to community, family and … [Read more...] about Make Your Goals Happen
The Road to Bankruptcy Is Paved with Bad Budgets
Business owners who do not like to talk about, put together or follow a budget are more common than one may think. If left too long, the situation degrades into a position where owners are on the … [Read more...] about The Road to Bankruptcy Is Paved with Bad Budgets
Small Trucking Companies Raising Rates
According to Road Scholar Transport, "Nearly 70 percent of the freight shipped throughout the United States travels by truck at some point in its journey." It's the middle of 2018, and it's time to … [Read more...] about Small Trucking Companies Raising Rates
How to Calculate Cash Flow for Small Businesses
Understanding how to calculate cash flow is of high value to an SMB/E. Operating cash flow Formula for an SMB/E provides a measure of the amount of cash generated by a company's normal business … [Read more...] about How to Calculate Cash Flow for Small Businesses
Energy Leaks Are the Most Prominent Financial Leaks
In our attempt to uncover financial leaks in small businesses that will help save them money, our research has found that U.S. small businesses spend, collectively, approximately 60 Billion dollars … [Read more...] about Energy Leaks Are the Most Prominent Financial Leaks
Positioning Your Business to Sell
Do you have a business to sell in the next few years? If so, then you are joining the ranks of a significant number of owners who also wish to sell.Baby boomer business owners (born from 1946 to … [Read more...] about Positioning Your Business to Sell
Sales Don’t Always Equal Profit
"I just need to sell more, and I'll get out of this hole.""I just need to sell more, and I can retire in five years.""I just need to sell more, and I'll be able to grow.""I just need to sell … [Read more...] about Sales Don’t Always Equal Profit
Identity Theft: How Vulnerable Is Your Business?
According to the Bureau of Justice Statistics, more than 17 million individual American citizens are affected by identity theft. Since the larger data breaches have occurred over the past year, the … [Read more...] about Identity Theft: How Vulnerable Is Your Business?
Predictive Analytics 101
Businesses of all sizes, for decades, have been seeking answers as to how they would have the ability to improve negative business functions vastly before disaster strikes. With this knowledge, … [Read more...] about Predictive Analytics 101
Rewards: Unnecessary Pay, or Positive Reinforcement?
Most every small business owner desires dedicated, hardworking and loyal employees. The problem is how to do you cultivate and reinforce those values? We pay people what we believe to be a fair and … [Read more...] about Rewards: Unnecessary Pay, or Positive Reinforcement?
Fundamental Sales Planning
PRELIMINARY CONSIDERATIONSOne of the first considerations is the determination of the sales revenue required by the company to meet its payroll, expenses and desired profit. Are we expecting sales … [Read more...] about Fundamental Sales Planning
Time to Start Taking 3-D Printing Seriously
There is no doubt - 3D printers have a wow factor. Whether they are creating a plastic knee joint, one-of-a-kind metal turbine blades or a chocolate pyramid, they are a marvel.But, are they … [Read more...] about Time to Start Taking 3-D Printing Seriously
Experiential Marketing – Don’t Just Explore It, DO IT!
Many small business owners, whether they are just opening their doors or they've been in business for awhile, often find themselves lost in the digital noise, face in their hands, repeated sighs, … [Read more...] about Experiential Marketing – Don’t Just Explore It, DO IT!
7 Calculations for Profiting in the Service Industry
On numerous occasions, I have asked plumbing, coating and finishing, HVAC, or glass company owners and executives, "What is it you sell?" I get a variety of answers like excellent service, best … [Read more...] about 7 Calculations for Profiting in the Service Industry
Contractors Should Evaluate Their Sales Force Often
Attempting to read the housing market, so far this year has become challenging at best. In 2017 nearly everything driving the housing market teetered on what would remain after the natural disasters … [Read more...] about Contractors Should Evaluate Their Sales Force Often
Trend Analysis: Better Understand Your Business
A trend is a pattern in the company's performance over time. While trend analyses are often used to determine and evaluate financial performance, they may also be utilized to highlight statistical … [Read more...] about Trend Analysis: Better Understand Your Business
Budgeting: Under-appreciated and Under-utilized
One of the last things that most small business owners consider is doing a Budget. A large number of owners do not understand the value obtained from a having a budget. Often, when budgets are in … [Read more...] about Budgeting: Under-appreciated and Under-utilized
Price Resistance
Suppose that your analysis of your client indicates that the proper Labor Burdened Rate is not being used and the Overhead Recovery Rate is too low. Normally, this would require an increase in your … [Read more...] about Price Resistance
