I’m a retired sales and marketing guy who’s recently purchased a local convenience store. What are some of the key numbers I should be monitoring to successfully manage the business’ finances?
Cash Flow Template in Excel
In the pages ahead I will share with you some of the major ways poor forecasting can sabotage your business plan and your financing. I will also share some of the lessons I have learned about how to avoid these pit-falls and secure the financing you need to launch and grow your enterprise.
I met with a friend recently who shares my interest in launching and funding startups. He told me an interesting story that resonated at many levels. It went something like this:
The role that pricing plays in the financial structure and competitive profile of a small business is often misunderstood. Many business owners and entrepreneurs automatically assume that price increases put them at a disadvantage. But that’s not necessary so if you have a clear strategy for setting prices at your business. Some pricing experts, for example, argue that small, strategically targeted price increases can actually give a company a competitive edge.
The key is to bridge the disconnect that exists between pricing strategy and profits for so many businesses, both large and small. Proper pricing is more complex that most of us realize. Business owners usually see pricing as a mix of markups, margins and matching the competition – plus a modicum of “gut feeling.”
I’ve been an independent media and public relation consultant for almost a year. As a first-time self-employed tax filer, what business deductions am I entitled to?
Running A Profitable Company
This free online business workshop will help you with: identify tips to help you run a profitable company.