Are you ready to stop, look at yourself in the mirror and willingly admit that you have no business succession planning in place yet? Yes, planning for when you leave the business (because of bad health, retirement , or death) is a must-do if you want to sustain all of the hard work you put in and managed to continue—at least, if you want the business to go on for a few years more.
In this article, I’ll take you through some action steps to start planning for your departure from the business. Remember, whether you’re young or old, you need to have a plan in place! READ MORE »
When looking at a spreadsheet that’s chock full of information and row after row of data, it can be difficult to discern the bottom line at a glance. Perhaps you want to know if members of your team met their individual sales goals for the month. Or which of your sales representatives was the top seller for the quarter. Maybe you want to see if your expenses exceeded your budget for the year. You can easely have these things stand out in a spreadsheet by using conditional formatting READ MORE »
While there are several books dealing specifically with business finances, including A Guide to Financing Your Small Business and A Guide to Small Business Finances, any consideration of business growth has to encompass at least some discussion on financing options such as mergers, acquisitions, joint ventures and franchising. READ MORE »
Microsoft Excel is useful for tracking and analyzing all types of information. When using
it for business, the first thing you need to ask yourself is, “What information do I want to track/manage?” Businesses use Excel to manage a variety of data including lists of information, budgets, invoices, inventories, expense statements, time sheets, and employee schedules to name a few.
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It’s amazing how many small businesses are not aware of contract bidding opportunities or how to find them via the Internet. No business owner starts a business with the vision of having it fail. Don’t let looking at other revenue options only occurs when the business is already failing. As long as money is coming in the door and cash register, an enemy called complacency sets in quickly. Don’t let your business be another victim of failing to think outside of the box. Finding and pursuing contract bidding opportunities is a critical component to business sustainability.
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