Did you know that committing just 15–30 minutes per week to reviewing five key accounting reports could help you improve your business’s profitability? Now, I know what you’re thinking. That’s my accountant’s job! As a business owner, spending some quality time with...
In business, the most important thing you must be able to communicate to a potential customer is the reason why they should buy from you. Without the answer to this question, you’re going to struggle to convert prospects into paying customers. After all, every...
Today, we are going to talk about only selling what is profitable. Every business has a gateway product or service—one that you and your staff know inside and out. What makes this particular product or service special is that it is highly effective in bringing in new...
Today, I want to address one of the most common questions I hear from business owners: How do I increase sales? While it may seem like a reasonable and straightforward question, frankly, I think it’s the wrong question to ask. So, naturally, I will usually question...
Today, I want to tackle a very important concept that many business executives and managers tend to overlook: When and how should you make changes to your product mix in order to increase profits? When a company isn’t doing well, most of the time it’s because they...
In order for a business to pay the rent, make payroll, and cover all of their expenses, they need to make a certain number of sales each month. Of course, they may be able to continue collecting receivables for a time to help keep the lights on; but eventually, that...
It’s imperative that you prepare for the next tax filing season all year round. Now, it’s time to turn your attention to this year’s personal and corporate tax returns. Of course, proper tax planning will help you maximize the amount of money you’re able to save when...
I’m always amazed when a business that makes $500,000, $1,000,000, or perhaps even $5,000,000 has no idea what they’re making. If they are relatively organized, they may be able to see what they are making at the end of the month. Otherwise, they may have to wait...
One of the most important questions that a business owner can ask is, what should we be charging for our products and services? On one hand, charging too much discourages customers from purchasing your product. On the other hand, charging too little reduces your...
Especially in a struggling economy, raising your prices might seem like a nonsensical thing to do. But the reality is that, as a business, your costs are increasing all the time. You should be able to raise your prices as needed in order to offset those costs and...