Do you know what the break-even point is for your business? Your break-even point is the level of income needed to cover your costs.
Read MoreTopics: Business Improvement, Business Planning
There was a time when cars didn’t have a fuel gauge. That meant you had to understand the size of your fuel tank, remember when you last bought fuel (and how much) and estimate the distance you’ve travelled since filling up.
Read MoreTopics: Business Improvement, Business Planning
Selling your business might be far from your mind right now. Perhaps you just started and/or it’s going fabulously well. Don’t fix something that’s not broken, right?
Read MoreTopics: Business Evaluation, Retirement Planning, Business Planning
As business owners, there is an endless stream of things, people, events and information that can overwhelm even the steadiest of leaders. We win or lose big sales, team members come and go, costs change, competition arises, and bills and payroll must get paid. We get to the end of the year, we look at some numbers and evaluate what kind of year it’s been. Often, we spend so much of our time and energy battling to simply keep up, that we never ask if our business is providing us the life we want.
Read MoreTopics: Business Planning
A business plan and budget is a road map to succeeding in business. If you know where you want to go but you don’t know how you are going to get there, you may still reach your destination, but it will probably take you longer than if you had planned out the journey. Including your team in this process is vital to the success of your plan.
Read MoreTopics: Business Planning
