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Direct VS Indirect Costs: How To Classify Your Business Expenses?
Business owners have a lot on their minds. They have to consider if there are enough raw materials on hand to produce their products. They have to make sure there is money in the bank to pay their employees. They need to know that all of their customers are satisfied. However, while your cash flow statement tells you if you have the money to cover your expenses, you need to understand direct vs indirect costs to calculate profitability accurately. After all, businesses exist to make money.When reviewing your expenses, it is important to understand the differences between a direct and...
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What are Overhead Costs? How to Distinguish and Minimize Them
Image via unsplash Unfortunately, most businesses are seasonal. This means there are times where revenue drops dramatically but you still have necessary business expenses. The scope of this article today is to answer the question "what are overhead costs" so you can...
FreshBooks Review: A New Perspective For Invoicing And Bookkeeping
Freshbooks is one of the most popular financing and accounting software options for small businesses, growing businesses, and freelancers. It has won awards for innovation, efficiency, and user-friendly features. Freshbooks reviews reveal consistently high customer...
5 Professional Tips on Creating an Employee Handbook That Works
Your employees are the backbone of your business. So it's important to make sure they have the resources they need to fulfill their duties. The best way to do that is by creating an employee handbook. This manual is a valuable piece of communication that serves both...
What Is A Tax Write Off? Your Guide To Deductions Made Easy
It was back in the 18th century that Benjamin Franklin, arguably America's most famous founding father wrote: “in this world nothing can be said to be certain, except death and taxes.” And while some may prefer death when every April 15th rolls around, the fact is...
How to Buy a Business
How to Buy a Business As many people think of starting a business, they probably picture you starting a company from scratch using your ideas, funding, time, and so much more. However, starting out from the bottom can have some disadvantages, including building up a...
What are Overhead Costs? How to Distinguish and Minimize Them
Image via unsplash Unfortunately, most businesses are seasonal. This means there are times where revenue drops dramatically but you still have necessary business expenses. The scope of this article today is to answer the question "what are overhead costs" so you...
Cost Saving Strategies That Can Keep Your Business in the Black
If you are a business owner, maintaining a strict budget can be everything. Here are some cost saving strategies to keep your business profitable.
Cost Containment Strategies to Help Your Business Succeed
Cost containment is hugely important for any business if it wants to improve its margins and overall profitability.
Simple Business Cost Reduction Ideas That Will Work
Searching for business cost reduction ideas? We know how it feels to want the best for your business. Read more to find out how to save money.
Indiegogo vs Kickstarter to Get Your Company off the Ground
Crowdfunding, for those who haven’t heard, is technology’s new way of allowing people to raise money regarding donations online. Used by many as a way to build small business support, jumpstart a project, or fund an event for a noble cause, some platforms are...
How to Make a Budget Plan to Keep Your Small Business Profitable
One of the most important steps in starting a small business is learning how to make a budget plan. It makes all the difference in the world.
Budget Model: Choosing The Best Budget For Your Business
Every successful business relies on one budget model or another. Find out how to choose the best for your business.
Which Is Better UPS vs. USPS For Your Company?
E-commerce sales have soared in recent years, with forecasts putting annual revenue north of $638 billion by 2022. Whether your business is small or large, it’s crucial to your bottom line to find the most economically and efficient way to ship your products. You may...
5 Types of Business Budgets: One is Not Enough for Success
Most business owners know the importance of a business budget. But, did you know there are five different types of business budgets you should use?
What Is the Procurement Process, Which Are Its Stages?
The procurement process consists of identifying the goods your company needs and finding ways to get them. At a first look, this process seems quite simple, but it’s actually a lot more complicated than that. The process has all kinds of underlayers and stages that...
Strategic Financial Management: What It Is and How to Do It Right
Most people who think about economics and accounting regard these disciplines as extremely exact and analytical. However, they often ignore the management part, which requires some creativity and the ability to look into the future. Strategic financial management is...
How to Write a Letter of Employment
As an employer, you’re likely to have an employee request for a letter of employment. Writing a verification letter doesn’t have to be difficult. Read on to find out what your letter should contain and what to avoid. As an employer who runs a business, you’re likely...
How to Fire an Employee
When it comes to business, there is no fun way to fire an employee. Don’t turn what’s already a semi-stressful situation for you both into a full-fledged war zone by planning ahead of time. Taking a few steps ahead of time could wind up saving you a real headache when...
Most Common Types of Health Insurance You Need To Be Aware Of
Meta: Deciding between healthcare plans can be a complicated task. Here are the types of health insurance you need to be aware of to choose the best healthcare option for you. Types of Health Insurance You Need to be Aware of Health insurance is complicated....
How to Plan A Paid Time Off (PTO) Policy For Your Employees
Providing paid time off (PTO) for your employees is a critical aspect of your company’s benefits package. If your company is just getting started, you’ll need to create a PTO policy from scratch, however. In this article, we’ll walk you through the most important...
How to Write a Non Compete Agreement To Shield Your Business From Risks
Any business owner can tell you; strong employees are one of the keys to success in any industry. Every business has at least one employee who plays a major role in the success of the business. But, what happens if that employee leaves the company? How do you prevent...
Learn More About the Gross Rent Multiplier: How Is It Used?
Meta: Learn about how to calculate the gross rent multiplier along with its uses and applications. Know where its limitations exist too. Owning rental properties is an excellent way to supplement your income as long as you look at your costs and investments...
How To Calculate Asset Turnover Using Your Financial Statement
When your company needs to find out how effective its assets are at producing revenue, you’ll need to know how to calculate asset turnover. Calculating your asset turnover will help your company identify large inefficiencies and give your departments some ideas on...
Great Work Perks for Your Employees To Attract Top Talent
If your employees are happy thanks to great work perks, you’ll never have to worry about losing them to another company.Perks supplement your employees’ salaries and other benefits to make working at your company a more enjoyable experience. By providing great work...
How to Determine Current Assets In Your Financial Statement
Calculating your current assets gives you a measurable means to gauge the stability of your business. It’s also something you need to know if you need to secure a loan. The precise definition according to Merriam-Webster is, “assets of a short-term nature that are...
Cost Saving Strategies That Can Keep Your Business in the Black
If you are a business owner, maintaining a strict budget can be everything. Here are some cost saving strategies to keep your business profitable.
Cost Containment Strategies to Help Your Business Succeed
Cost containment is hugely important for any business if it wants to improve its margins and overall profitability.
How to Make a Budget Plan to Keep Your Small Business Profitable
One of the most important steps in starting a small business is learning how to make a budget plan. It makes all the difference in the world.
Budget Model: Choosing The Best Budget For Your Business
Every successful business relies on one budget model or another. Find out how to choose the best for your business.
How to Write a Profit Sharing Plan
Having a profit sharing plan for your company is an excellent way to engage your employees and investors by giving them skin in the game in your business’s success. It will make workers feel as if they have a clear purpose and goal with their job. That is one of the...
Simple Business Cost Reduction Ideas That Will Work
Searching for business cost reduction ideas? We know how it feels to want the best for your business. Read more to find out how to save money.
Our Favorite Proposal Templates
Our Favorite Proposal Templates A business proposal is an essential tool for you as a small business owner, solopreneur or freelancer. You need your business proposals to reflect your brand and your professionalism. The right pitch can close that next sale and launch...
The Most Effective Cost Control Methods in Manufacturing
Whether your business is publicly held or privately, in the red or in the black, cost control methods in manufacturing are critical to maintaining a profitable company. In times when your competitors are outsourcing to Southeast Asia, or automating their manufacturing...
How To Write A Press Release For An Event
You’re responsible for telling the public about a new event your company will hold. What’s your first move? To prepare a press release, of course. But writing a press release may be more difficult than it seems at first. What should a press release include, and how...
The Most Effective Ways to Increase Sales Revenue
As a business owner, you’re always going to be looking for ways to increase sales revenue. Read more to find out how to make your business profitable.
How To Start A Business By White Labeling Products
If you’ve ever heard of white label products, you might be wondering if you could turn a profit by selling them. In this article, we’ll explain how to start a business by white labeling products so that you can jump into the fray and make your brand. What Does It Mean...
