As the year quickly comes to an end, some time-sensitive items are begging for your attention! But f
Let's face it: Business has always been a challenge, made even more difficult over the last five years. While the economy appears to be improving, it's critical to look at how to push more dollars to your bottom line.
Last month in CustomRetailer, Leslie Shiner looked at ways to improve your profitability in 2013 by succumbing to a higher power. Or, as she put it, “Get help! You can’t do this alone—if you could, you would have by now.”
As 2012 has closed, it’s time to push forward with 2013. I could talk until I’m blue in the face about getting your books in order, creating budgets and starting 2013 out right. But frankly, I’m tired of it. Not because it’s not a good idea, but because I see so many small business owners who continue to ignore the books and run their company by the seat of their pants.
I really enjoyed the movie Moneyball. And not just because it starred Brad Pitt. The story is about Billy Beane, the general manager of the Oakland A’s, who was (due to rules I’ll never understand) stuck with the lowest salary constraint in baseball. The way he eventually turned the team around involved hiring a “numbers guy.”
I hate April. I used to like April—my birthday is in April. But now, I just hate it. Not because as one gets older, the birthdays seem to come more often, but April is a cash-flow nightmare. Does your company suffer from the April Cash Flow Nightmare? What causes this?
If it seems like you've been in survival mode for what feels like an eternity, now is the time to start the New Year with the focus to build your business in a planned and structured way. Last month we discussed controlling overhead and setting your marketing budget, read on for advice on creating labor utilization goals and digging yourself out of the cash-flow crunch.
If you've slashed and burned, now is the time to start the New Year with the focus to build your business in a planned and structured way.
Most small business owners are concerned about profits. So they often look at the Income Statement (also referred to as the Profit and Loss Statement or P&L). Good business owners carefully monitor net profit, gross profit and overhead.
Sometimes, even with a good understanding of the accounting behind the numbers, interpreting financial statements can still be a mystery. Why? Because some financial statements are poorly organized; in fact, some financial statements are just plain messy.
When you create your operating budget, you set a goal for your expected revenue and expenses. This budget mirrors your Profit and Loss (P&L) Statement and helps you create your Gross Profit and Net Profit goals.
Do you ever feel like Alice from Alice in Wonderland? These last few years remind me of Alice running on the chess board, taking two steps forward and one step back. But I continue to be optimistic about 2011.
In the September issue, our discussion on paralellism began with a review of gross margin. Part 2 focuses on how to be more efficient with your books to achieve maximum profitability.
CEDIA EXPO is often seen as a pivotal point of the year. The manufacturers show off new products; business owners, technicians, designers all mingle with peers; and educational opportunities abound.
While I was speaking at a recent trade show, an attendee came up to me and said he was concerned about his profit—aren't we all!