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Every cent you spend on operational costs eats into your profit margin. As a responsible business owner you want to reduce those costs as much as possible. While many of your expenses are fixed or non-discretionary (e.g. rent, utilities, salaries, etc.) there are several areas of your business where you can make better financial decisions. …
Customer Service Costing Too Much? Here’s How to Fix It Read More »
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Consumer Reports published a survey of how consumers feel about self-checkout. The top complaint of the 62,917 subscribers surveyed was too few open checkout lanes. Nearly 75 percent of respondents liked self-checkout’s ability to save time. We decided to delve into the self-checkout lanes to determine the good and bad. Here’s what you need to know. …
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With a good understanding of your costs, margins, and sales, you can calculate exactly how long you’ll be able to stay in business. More importantly, you can use those figures to make informed decisions so you can survive longer, and get a plan in place for achieving profitability. Defining Profitability First, let’s define profitable. At …
Before Profitability: How Long Until You Run Out of Money Read More »
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Without an invoice, your clients might not know when they owe money and how they can pay for the product or service. In the past, invoices would have to be mailed to clients. Thankfully, modern technology has made the process of billing far easier, and invoices can now be created, sent, and even paid online. …
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Let’s take a look at what Bitcoin is, how you can accept it, and whether you should consider taking it at your business. What is Bitcoin? Bitcoin is a cryptocurrency. The term sounds cloak-and-daggerish, but it refers to a digital currency designed to exchange information via encryption techniques. There is no physical coin in a …
Taking Bitcoin – Does it Make Sense For Your Business? Read More »
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Recurring or subscription billing gives you the confidence of a semi-guaranteed income. It makes managing your finances a little easier, lets you plan for the future, and gives you a cushion against financial shocks. When you understand how many new customers you’re taking on, and how many you’re losing (the “churn” rate), you can also …
