Knowing your gross profit is one of the most important steps to understanding the health of your business. Gross profit is the amount of money a company makes after subtracting the cost of goods sold from total revenue. In this blog, we are going to look at...
Decision making when things are calm is not the same as decision making under uncertainty. Because when it’s business as usual, you pretty much just follow the strategy laid out in your business plan, and take action that you’ve planned out beforehand. But...
To understand break even, you first need to know the components involved with business activity. But how do you find out what your business requires to break even? What is break even in business? Your business breaks even when your sales cover all your costs -...
Building your cashflow forecast might seem unnecessary to some - at a first glance, that is. That's why, this cashflow forecast guide aims to explain why you need one and how to build it. Because, you might be thinking, "I don't need one of those. I'm not going...
How to avoid undercapitalization and what it is, is the topic of this video and blog. It’s when the company hits a financial brick wall. But, let’s take a more step-by-step approach and explain everything so it’s easy to understand. In this blog (and vlog), you...
Setting the right business targets can seem daunting, but it need not be. We will help you to choose the right targets for your business, and provide tips on how to reach them. Why targets are important The first thing that we want to make sure of is explain...
Creating and following a financial plan (your financial story) is an important step to taking control of your finances. If you're like most business owners, you know that it's important to have a financial plan in place. But do you know how to effectively use...
Managing your business risk is something you need to know no matter what kind of business you run. Naturally, there will always be some inherent risk involved when running your business. There's no way to completely eliminate the risk. But by understanding and...
Have you ever put off doing something, and then ended up racing to finish the task last-minute? If this sounds familiar the read on: It might be that you’ve been struggling to start work on major tasks just because they feel overwhelming. Hence, you’ve delayed...
Are you looking to be successful in your business but don't know where to start? Most people think that in order to be successful in business, you need to be intelligent, have a lot of money, or know the right people. While these certainly don't hurt, there...