An interesting way to fund your dream project, whether you are a startup or a more established business, is to consider crowdfunding. Crowdfunding is when many people provide the money in small amounts for a project. Although crowdfunding is not new, it became much more popular when organizations like Kickstarter, Indiegogo, RocketHub, and GoFundMe created […]
If it’s been a while since you’ve adopted new marketing methods, it might be time, especially if you want to attract younger customers. Here are five ideas to do just that. 1. Video With YouTube as the second largest search engine, using video in your marketing is a slam-dunk return on investment. If there is […]
Accounting automation has come a long way in the last few years, and the process of handling invoices and receipts is included in those changes. No longer is there a mountain of paperwork to deal with. In this article, we’ll explain some of the changes in this area. Vendor Invoices Most invoices are now sent […]
With over 400 million active users monthly, Instagram could be a great opportunity to showcase your business. It’s a mobile app where you can share photos and videos. Instagram is owned by Facebook and is considered one of the major social media platforms. Instagram is a natural app to share photos of your products, team, […]
If you’re looking for more ways to bring in additional revenue, then a VIP revenue stream is one option for many businesses. Here are a couple of examples: A plastic surgeon has a long waiting line of patients. The surgeon sets up a special membership fee of $3,000 per year for patients who wish to […]
Sometimes, the most telling numbers in your business are not necessarily on the monthly reports. Although the foundation of your finances revolves around the balance sheet and income statement, there are a few numbers that, when known and tracked, can make a huge impact on your business decision-making. Here are five: 1. Revenue per employee. […]
If you grant credit to customers, then you have a balance in accounts receivable. DSO stands for Days Sales Outstanding, and this helps you measure how fast your receivables are being converted to cash. Here’s how to calculate it: DSO = Accounts receivable balance / Annual net credit sales * 365. DSO is measured in […]
Are you interested in being known for your extraordinary customer service? Or perhaps you just want your customers to feel like it’s easy to work with you or purchase from you. If so, try these five tips for five-star client service. 1. A good old-fashioned handwritten thank you note. Almost extinct, this customer pleaser shows […]
Effective December 1, 2016, federal overtime regulations will change and may affect how you are paying your employees. These overtime updates will affect 4.2 million workers across the country. The new rules will raise the salary overtime-eligibility threshold from $455/week to $913 ($47,476 per year). This new threshold will increase every three years. Salaried workers already […]
The best cakes have layers and layers of different delicious flavors to enjoy. Stacked on top of one another, each layer is baked separately and becomes part of the whole. Like a layer cake, your business expenses have layers of meaning to them. When you can understand how expenses play a part in profit, you […]