As an entrepreneur, you are bound to fail sometimes. If you want success, you must first learn how to deal with failure.
Growing your business does not need to break the bank. Often, accelerating small business growth is a case of fine-tuning practices that are already in place and capitalising on the opportunities that are already in front of you.
Do you feel like your business is taking over your life? Does it seem as though there are never enough hours in the day to get everything done? If this sounds familiar, then it's time to start thinking about how you can buy back some of your time.
Money leaks in your small business eat away at your profits without you even knowing about it. Even if your business seems to be in great financial health, you should regularly check for leaks to ensure that you’re not unwittingly wasting money.
There’s a lot to think about when starting a small business and learning basic accounting terms may not be a top priority. However, it is incredibly important to familiarise yourself with accounting basics in order to get a grip on your finances and build a thriving business.
Having a solid understanding of accounting principles will help you to make informed decisions about the financial management of your small business. These tips will give you a good foundation on which to build.
Accounting can feel notoriously complex but as a small business owner, good accounting practices are essential to the financial health of your organisation. Taking your accounting seriously from the start is the best way to set your small business up for success and it will allow you to operate much more efficiently in the future.
Losses in business are fairly common. But some business owners tend to attribute them solely to inefficient sales and marketing.
However, that's not the only way a small company can lose money.
Here are some of the lesser-known reasons why your bottom line may not be as high as you'd hoped it would be.
If you're running a business, it's important to understand what gross profit margin is and how to calculate it. This figure tells you how much money your business is making after accounting for the costs of goods sold.
A good customer retention rate is essential to your small business. The more one-off customers you can convert into long-term patrons, the more profitable your business will be.
