|Small Business Information|
Is Your Business Making Money?
Is your business making money? Would you know?
Figuring out whether your business is actually making money is no easy task. Most small business owners have a pretty good idea of what their top line is (their revenues), but unless they're closely tracking and inputting all of their expenses, the bottom line can often come as a complete surprise. That's why it's critical to closely monitor these numbers on a monthly basis. They are the tools you need to make ongoing business decisions.
For example, a client of ours recently started a landscaping service. Although his sales were rapidly increasing, he was frustrated by the fact that it didn't seem to have much of a positive impact on his bottom line. By inputting all of his costs into the proper format, it became immediately apparent he wasn't charging enough for his services.
He thought that by charging his clients $20/hr and paying his workers $10/hr, the extra $10 would be his to keep. However, he forgot about all of the costs involved in actually carrying out the job starting with payroll taxes on the $10/hr, transportation costs, office overhead, and advertising. At his current rates, no matter how much business increased, he would never make any money.
The answer was to raise prices or get out of the business! Fortunately, he was able to raise prices without upsetting clients. Now, he can comfortably carry on his business and keep adding to his bottom line.
For more information on whether your business is making money, visit http://www.theprofitline.com or call 416.861.8177.
Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting
How To Accept Credit Cards
If you plan to do business online, then your website will need to accept credit cards. For many, the idea of applying for a merchant account sounds like a daunting task, but the truth is that building an online store is incredibly easy these days.
Slip And Fall Professionals; Service Businesses
Since you own a business you probably have liability insurance to help you against a scam of slip and fallers. Some entrepreneurs call them slip and fall professionals.
Winning in Business - Lessons from Lance Armstrong
Lance Armstrong this week won an unprecedented 7th Tour de France victory, confirming him as one of the greatest cyclists of all time. The fact that he won more Tour victories than anyone else in history is remarkable.
How to Bond a Business Relationship
When should you create a foundation in order to solidify a business relationship?Before you bond any business relationship, you need to make sure that this is a relationship that you both want to have. No relationship is a one way street; the relationship must work in both directions.
Don't Wait for the Perfect Plan
1. Don't Spend Too Much Time PlanningWhen you are entering a new market, you won't know the hidden problems and challenges you will face.
Mattress Cleaning Business: How To Manual
A Mattress Cleaning Business might be just for you if you have tried everything to contain your allergies, but feel like it is not enough. Instead of just purchasing the equipment to rid your fabric furniture and mattresses of allergens, you can also help others in your community to feel the relief and make a good income at the same time.
Small Business Success: Thriving During Change (And Landing On Your Feet!)
If I had $1.00 every time I heard someone say " I don't like change or, change makes me uncomfortable" I'd be a millionaire.
Joint Venture Your Way to Extraordinary Sales!
You know what makes me really happy? Drinking a Starbucks latte while doing my grocery shopping at Safeway. Getting my Godiva fix at Barnes & Noble.
Small Business - A Thing Worth Doing Is Worth Doing Badly
A thing worth doing is worth doing badly. Yes I know that it should be 'well'.
Pressure Washing Market Niche
Those who are in the pressure washer business should not neglect the Hotel exterior cleaning niche. Many five-star hotels spend significant dollars in making sure that their grounds are meticulously cleaned.
Detailing Business Options
So you want to get into the auto detailing business and are not sure what options are right for you? It is a difficult choice indeed and there are so many options. Let me tell you a few having been in the industry some 27-years, we have seen a lot of businesses come and go and we have seen what works.
4 Areas Where Your Business is Losing Money
In my 18 years of consulting I have heard it all. Everything from competition to managed care as reasons why it's hard to create the business of your dreams.
11 Things Small Business Owners Can Learn From Tiger
1. There Are No "gimmes" - They count two-foot putts on the PGA Tour.
Creative Marketing Tips: Simple Things You Can Use In Your Business To Attract More Clients
The single most important activity you can do in your small business is create a unique marketing strategy and plan. When was the last time you saw a company marketing themselves in an outrageous way? In this day and age it looks like everyone has read the same book on marketing - and sorry to say - that book doesn't work!What does work - is a little creativity, a little personality and a lot of effort to make yourself so different from your competition - that there is no real competition.
Business Failure, The 8 Traps Causing Failure And The One Attribute Which Ensures Business Survival
It is estimated that 78% of all small business start-ups fail within the first twelve months years, and long-term survival is likely for only 22% of all new business start-ups.At the same time huge corporations with seemly vibrant trade suddenly close their doors.
Tips on Setting Up Your Small Business Bank Account
One of the first things you will need to set up is a bank account. We recommend a large bank because:They have locations everywhereThey have longer hoursThey will probably buy out your local community bank anywayIf you are an owner/operator of a small business, you will appreciate having a Debit or ATM card for your business.
Smart PR Tactics for Small Businesses
Small businesses need Public Relations, possibly more than large corporations, to put them on the map. If you consider that time is money, however, you may find that handling your own public relations is a daunting task and not necessarily worth the monetary savings.
Mobile Truck Washing, Case Study
Most folks in the pressure washing business are happier to do business cleaning concrete or flat work, because it appears to be easy. Some do both fleet truck washing and concrete, which makes sense.
Expand Your Professional Organizer Business
Grow your Professional Organizer business by branching out into related areas. If you have been doing the same old thing for a while, and are comfortable with it, it may be time to stretch your capabilities and offer something new.
Going Public: Now that You Have Successfully Made the Transition, What Do You Do?
Ok, you have successfully accomplished your dream of being the CEO of a public company. The stock of your company has a symbol and you are continually going to the computer to check the price, you tell all your relatives and friends and you even tried to encourage them to buy the stock.
|home | site map | contact us|