For any small business owner, success comes from generating a profit. And generating a profit requires you to set fair prices that more than cover all the costs involved in manufacturing or purchasing the products you sell. Calculating your ideal selling price requires you to understand the true costs involved in purchasing or manufacturing your […]
Being outstanding at delivering the products and services your business is known for is great – but it’s only part of the picture. The future health and growth of your business depends on making smart decisions based on solid information. To drive your business forward, you will need to: Have a plan. Whether it’s to […]
Put simply, an invoice is a way of listing products and services which a business has supplied to a customer. It itemizes those products and services, and their costs, and creates an obligation for the customer to make payment. Creating invoices is a vital practice for small businesses, as they are the means by which […]
If you have recently changed, or are considering changing, from “break/fix” to offering managed services, then this article is for you.
Yes! The government requires banks to report all cash deposits greater than $10,000.
When written on an invoice, “net 30” simply means that the customer has 30 days from the date of the invoice in which to make payment. If, for example, “net 30” is written on an invoice dated March 1st, then payment is due on or before March 30th. Net 30 is not the only option […]
For small and midsized businesses (SMBs), a healthy financial situation can be make or break. Unlike larger businesses, smaller enterprises often have fewer resources or less resilience to resist external pressures, such as disrupted supply chains or economic uncertainty. Therefore, assessing all aspects of your business to identify areas for improvement is crucial to reduce […]
Running a small business is not always easy. With many demands on your time, it’s easy to lose focus and try to do everything all at once, rather than to concentrate on what really matters one step at a time. Productivity can suffer as a result, affecting your business’s competitiveness and profitability; in challenging economic […]
As a conscientious small business, you work tirelessly to deliver your products or services to your customers on time so, when invoice deadlines pass without payment being received, it’s frustrating. But overdue invoices aren’t simply an inconvenience; when clients don’t pay by the due date, your business’s cashflow can suffer. It becomes harder to settle […]
Being a freelancer often tends to mean that you are the sole person responsible for your business – in every aspect. A common obstacle that many sole proprietors face is trying to reduce time spent day-to-day tracking time on projects, invoicing, billing, managing tickets etc… all things that typically detract businesses from growing their bottom […]