Whether you operate a growing business, hospital, university, government agency, or other organization with high volume item receiving, your receiving team must be efficient to get the right items to the right people - fast. Am I right? So why aren't you automatically tracking your … [Read more...]
Distribution and Sales Oreck chose to distribute and sell its vacuum cleaners through a chain of 96 retail stores it wholly owned. Reports are surfacing that former CEO Doug Cahill left the company in March over his disagreement with this approach. One has to ask, in the era of Amazon.com … [Read more...]
The Income Statement is also called the Profit & Loss (P&L) Statement, reminding us that losses are part of the equation. In order to be profitable - simply put - you must stay out of the red and learn to identify trends that move your dial in the right direction. Your Income … [Read more...]
There are three concepts entrepreneurs must understand when securing funding for a fast-growing startup - burn rate, time to out of cash, and time to close. 1. Burn rate (BR) refers to the amount of money a company spends in a given time, usually a month. If the company has income, the burn … [Read more...]
Grants.Gov The information hub for U.S. Government grants is Grants.Gov. The website emphasizes that federal grants are not benefits or entitlements, but are used for an approved public purpose of support or stimulation. They are not meant to assist individuals and cannot be used by the … [Read more...]
Business Money-Wise Strategy: A good rule of thumb to stay out of the red is to budget 20% of revenue to cover expenses you simply don’t think about. Industry association fees – It helps to be connected, especially as a new small business. A great way to build your network among … [Read more...]
When you combine the power of QuickBooks® to manage your financial operations with a robust, feature-rich inventory management solution, you better manage your business. Automating the management of your warehouse inventory will result in reduced labor costs and increased supply chain efficiency. … [Read more...]
The Jumpstart Our Business Startups (JOBS) Act passed Congress and was signed by the White House in 2012. The Act legalizes a new form of crowdfunding – it allows small, unsophisticated investors to buy shares or debt privately from small or startup companies. We are still waiting on the SEC to … [Read more...]
Grants touch the lives of nearly everyone. From 2007-2012, the US government allocated over 5.2 Trillion grant dollars nationwide. The nature and scope of a grant may vary, but accurate reporting and prudent use of grant funding is critical to becoming a grant recipient. Grantees must be … [Read more...]
We've discussed the importance of planning. Your business plan is the documentation of that planning - one of the most important documents you will create as a business owner. It can get you started on the right foot or doom you to disaster. Your plan should include projections for your business … [Read more...]
