There are dozens of formulas and ratios that a business can use to determine success and profitability. However, there really is one that is most important and should be used repeatedly . . . Sales – Expenses = Profit Keep on repeating this formula over and over again and you will do just fine. […]
Archives for August 2019
What Keeps Business Owners Up at Night?
Aside from worrying about everything, there are really just a few timeless concerns of most business owners. If you don’t have at least one of these concerns then that is probably a concern. Here they are with a few solutions: Employees: No matter how well you run your business, it will always be a challenge […]
Follow Your Emotions and Go Broke
According to dictionary.com, one definition of emotion is “an affective state of consciousness in which joy, sorrow, fear, hate, or the like, is experienced, as distinguished from cognitive and volitional states of consciousness.” Emotions can be complex and if you make business and financial decisions based solely on how you feel at the moment without […]
What is a Growing Business Doing Differently than a Struggling One?
There are major differences between the actions of a business owner with a growing business versus that of a struggling business. There seems to be a recurring theme for growing and struggling that closely mimics those who are fit and healthy versus those who struggle with their weight. The accumulation of certain actions will greatly […]
5 Traps to Avoid When Growing Your Business Rapidly
Growing your business, especially growing rapidly, can be a really great accomplishment, but there are dangers when growing too quickly. Here are several traps to avoid to ensure successful growth: Cash flow: Quite often, a small business will have cash flow issues when growing too rapidly. This is due to a delay of getting paid, […]