45% of businesses fail during the first five years. Avoiding these 7 common mistakes can help companies stay on the path to success.
Read More
A business plan that you like to refer back to should prioritize strategic aspects crucial for your company's success.
Read More
Tracking 5 standard metrics offers an efficient way to evaluate the effectiveness of a company's marketing spend without adding much extra time.
Read More
Shipping zones in Shopify are a great way to control which products ship to which locations.
Read More
The cost per lead (CPL) measures the average amount a company spends on getting one new lead from an advertising campaign. Apply these five tips to reduce the cost per lead and increase the effectiveness of your advertising campaign.
Read More
Companies with manual inventory management often struggle with unfulfilled orders, inaccurate reports, write-downs, write-offs, and high warehouse costs.
Read More
Companies with employees must know how much sales they must bring in and how much gross profit their products must make to cover their staff's costs. The metrics sales per employee and gross profit per employee can set the right thresholds.
Read More
Like taking a before picture, baselining creates a reference point against which you can compare your improvements.
Read More
A top-selling product has a high gross profit and sells in large quantities, contributing significantly to a company's profit.
Read More
The inventory ratio Days of Inventory Remaining uses past sold quantities to predict how many days a product will still be available until inventory runs out.
Read More
Many small businesses are not prepared to add employees and grow. Their workflows are too founder-centric.
Read More
If you have trouble answering how much money your company makes monthly and what its profit drivers are, your bookkeeping probably needs an upgrade.
Read More
Projects can be events, weddings, photoshoots, house remodels, interior redesigns, and website launches. They usually share three critical characteristics: scope, time, and cost. Successful project managers follow eight best practices.
Read More
Even if you want your company to stay small, scalability is the main reason your business is financially viable.
Read More
As a business owner, nobody will tell you what to spend your time on. But if you and your family have to live off your company's income, entrepreneurs suddenly face significant challenges.
Read More
How decisions will turn out in the future is sometimes hard to predict. But not always, if you develop a business case before making an important decision.
Read More
Using standardized components can significantly reduce the time spent creating proposals.
Read More
Speaking to a business coach with extensive business experience in various industries could sometimes prevent costly mistakes and save solopreneurs a lot of time — and their company.
Read More
Simplification is the best cure for complexity. Here are 5 signs to detect unnecessary complexity in your own business and 3 steps to reduce it.
Read More
The more you practice, the sooner you will become an expert in your field and the less time it will take you to complete a task, increasing your business's profitability.
Read More