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...]
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...]
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...]
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...]
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...]
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...]
Turnover is costly to businesses. It takes money to recruit. It takes money to train. It takes time to transition staff and manage internal operating efficiency during periods of transition. The savvy small business owner will eliminate wasteful spending by incorporating smart HR … [Read more...]
