Are You Charging Enough to Cover Your Costs AND Make a Profit? The purpose of being in business is to make more money than it costs to provide your goods and service, right? And “what should I charge?” can be a loaded question. You’re making money, but is it enough?
Many business owners have some expectation of what their expenses and revenues will be in coming months, but most have not taken the time to put together and use a real budget. In order to better understand your business, and maintain good financial stability – a business owner should consider the following when developing their […]
When we first start a business, the biggest question we often think is, “what should I charge?” We tend to start out where we’re comfortable and confident people will buy. After a while we may find that we’re making sales easily. That’s an indication to consider raising prices. If you also find that you’re working […]
According to a small business administration study, over 28% of businesses go bankrupt due to problems with the financial structure of the company, and in many cases this could have been avoided. Understanding your accounting reports is essential in order to stay on top of business so you can manage your finances and make informed […]
Think about it – when drawing out a plan of action for your business, you can minimize any unexpected cash flow issues, control spending, inform decisions in other departments, assist with financing applications and reduce overall risk. Here are 12 steps you can take right now to create a business budget. Research Costs – Why? […]