What do you know about critical supplies and the path travelled to your door?Discussions of risk have been at the front of our national and international dialog for over a year now. … [Read more...] about What Is Supply Chain Risk?
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
Which metrics should businesses use daily? Choosing the right metrics can often be challenging for small business owners. Many times the choice made is not to look at any metrics at all and still … [Read more...] about Metrics to Use to Manage Business by the Numbers
EXCUSES - As business owners we sometimes need to sit back and take a look at a single work day. During that day how many excuses do we hear from our people that are simply attempts to explain away … [Read more...] about From Behind the Desk: Excuses
Business goals are more than just numbers, they are what drive your business forward. As an SMB/SME owner, you have a purpose with your business just as you have a purpose in your life. Goals are … [Read more...] about Business Goal Examples For Any Small Business
An SMB should use every useful tool that makes sense; the critical test is to make sure the tool makes sense for your business and is not just an over-promoted feature that will take hours from your … [Read more...] about Excel Features Less Known For Entrepreneurs
Where does the time go? Can a procedure be more efficient? How long does it take an employee to finish a task? These questions and many more are posed by business owners every day. One of the best … [Read more...] about Time Study For Small Businesses
“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
When you start a company, one of the first things you must do is to determine how to define your fiscal year for financial reporting. There are several ways in which a company can define a fiscal … [Read more...] about Which Fiscal Year Methodology is Right For You?
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?
No, seriously - paperwork can make your life easier if it is the right kind. If it is the wrong kind it can make your life much more difficult (living hell comes to mind).Did you know there is a … [Read more...] about Paperwork Can Make Your Life Easier – Really!
Small business owners often fail to consider themselves large enough to set specific plans of action regarding the growth of their businesses. You, as a small business owner are larger than life in … [Read more...] about Consider a SMART Goal to Grow Your Business
Small businesses have or should have financial statements that provide a health measurement of the business and whether they are profitable or not. Your business financial can include data on business … [Read more...] about Small Business Accountability
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
Many businesses have a profit drain in the guise of inventory sitting on their walls, whether it be for resale, for assembly or for use in performing company services. Dependent on the size of your … [Read more...] about Inventory: Potential Profit Drain
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
As with any business, it's the duty of a business owner or assigned business manager to competently and adequately guide their company through to the initially intended achievements of the company … [Read more...] about 2 Forms of Analysis to Increase Company Health
It is baffling to experts. Why won't business owners learn how to read, understand and manage their financials? Why don't they want to control their money? Why can't they realize that the better they … [Read more...] about It Is Time to Get Control of Your Money
Cost of GoodsThe importance of knowing what expenses constitute Cost of Goods and what expenses constitute Overhead are critical to establishing a meaningful Chart of Accounts. A meaningful Chart of … [Read more...] about Overhead vs. Cost of Goods
Business analytics - if you are like most small business owners you have heard of it. And, if you are like most owners you are not exactly sure what it is or if you need it. Let us break it down and … [Read more...] about Business Analytics – Do You Need it?
For most businesses, the costs associated with having employees are significant; in some cases, employee cost is the single biggest cost area for the company. It should be no big surprise, therefore, … [Read more...] about Employee Productivity Measurement – The Why and How
What is a KPI?A KPI (Key Performance Indicator) is a statistical measure of how well a business is progressing towards specific goals and objectives. A KPI could, for example, measure a company's … [Read more...] about Understanding KPIs For Measuring Performance
Being the victim of embezzlement is one of the most heart-wrenching events that a business owner can endure. Usually it involves a being betrayed by a highly valued and trusted employee. Not only is … [Read more...] about Don’t be the Victim of Embezzlement