Whether we’re headed for a recession or not, it’s always a good time to squeak out more profits from your business books. We’re not talking about drastically slashing expenses or spending a lot to raise revenue; the tips in this article are long-term ideas to gently lift
Read more →How is your business doing? There are many ways to answer that question and, in this report, we’ll focus on the quantifiable answers. These come in the form of financial measures or metrics, sometimes called key performance indicators (KPIs). Many come in the form of ratios, so
Read more →Every business has competitors of one sort or another, and in many industries, it’s crucial to know what your competition is offering their customers. The good news is you can often find out what your competition is up to, and this is where mystery shoppers come into
Read more →As a business owner, you have dozens of decisions to make at any one time. One of the most important decisions to make is choosing what type of entity your business will be. While you already made this decision when you started your business, your situation could
Read more →Almost every successful business owner craves accountability. We’re wired to respond to crises and to help others, sometimes before we help ourselves. Entrepreneurs are excellent in running their day-to-day businesses, but some need more accountability to meet internal deadlines and long-term goals. Let’s take a look at
Read more →The short answer to this question is YES! Incidents of cybercrime have been problematic for a long time, but have soared exponentially since the start of the pandemic. If the reputation of your firm depends in part on your maintaining confidential client records secure and private, then
Read more →Pick up just about any public company’s most recent annual report, and you’ll find a section on ESG. ESG stands for Environment, Social, and Governance, and the trend of not only considering, but also measuring a company’s sustainability performance on ESG issues has become key. A new
Read more →Getting your business loan can be an exciting step in the growth of your business. Recording your loan properly in your accounting system usually requires special handling by your accountant. Your loan statement will provide the information you need to get it booked properly. You’ll need the
Read more →A refund policy defines the processes and rules for when customers want their money back and want to return the products or services they purchased from you. It’s often required by your credit card or shopping cart company as part of maintaining PCI (Payment Card Industry) compliance.
Read more →Measuring and encouraging customer retention is important for businesses in many industries. There are a couple of great measures to see how you are doing in this area. We’ll explain those and provide some tactical tips in this article. Measuring Customer Retention The most common metric to
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