Inventory consists of wholesale merchandise you resell and products you manufacture or assemble. You’ve got to keep track of these items, as they represent your future revenues. This means you must know how much you have of each item. You must also keep tabs on items lost through damage, spoilage, … [Read more...]
The idea of gleaning business tips from reality TV might seem as absurd as taking trading advice from Gordon Gekko. Just in case the memory isn’t what it used to be, Gordon Gekko is the corporate raider Michael Douglas played in the film “Wall Street” who was fond of insider trading. The only … [Read more...]
All About Kids Pediatrics really is all about kids. They keep approximately 2,000 of them healthy each month. In doing so they deliver a lot of preventive care services, like vaccinations. Every shot administered involves extensive reporting and documentation requirements. Take a look at vaccine … [Read more...]
Improv comedy is an extemporaneous interaction - meaning “spoken or done without preparation or advance thought.” No advance planning? Pretty solid idea as far as a funny theatre performance goes, but not exactly the best business practice. Or is it.. The potential of improv as it … [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...]
1) Launch. Learn. Re-Launch. Experience: In 2008 we went through the experience of leveraging the Internet in our business. It was great because we began to work faster and more efficiently. We began listening to our customers and understanding their problems and their needs; our commitment to them … [Read more...]
Trade shows, expos, and conventions are some of the most overwhelming and confusing situations one can find themselves in. The onslaught of flashy booths and unruly crowds can rattle anyone. One way for an exhibitor to not only stick out, but make a long-lasting impression on attendees and potential … [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...]
Small Businesses Divided on Internet Sales Tax Small Business Trends The U.S. Senate is expected to make a decision soon regarding Internet sales tax legislation aimed to give states the power to collect sales tax for online sales, regardless of a merchant's physical presence. Businesses may … [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...]
