Most business owners focus on long-term financial planning. They want to see what they can accomplish in 3-5 years; how their profits may change and what would be the options for further expansions. But by constantly looking way too ahead, it’s easy to miss an obstacle...
Want to get an edge over your competition? Invest in creating a better customer experience. Not only people (67%) and other businesses (74%) are ready to pay more for prime treatment, companies offering top CX retain customers that are 7X times for likely to make...
The tax season is just one month away. Already feeling that you have a large bill due this year? Well, that means your business is doing great! Perhaps, it also means that you missed out on some attractive tax deductions for small businesses? Let’s fix that,...
With low startup costs and potentially attractive profits, ecommerce has become an attractive business niche. As the competition keeps increasing, brands are looking for new avenues to stand out beyond price and product quality. This year, customer experience (CX) seems to be taking a central role...
Running a business means that you constantly need to learn about different legal and operational aspects of entrepreneurship. And the longer you run your company, the more often you'll find yourself navigating the somewhat muddy and confusing terminology and rules. Previously, we detangled different accounting/financial practices and...
Dreaming of leaving the daily grind behind, but don’t know where to start? The gig economy is on the rise, and finding a side-hustle or contract work is getting easier than ever. But if you want to launch something potentially bigger than a one-(wo)man business,...
The best way to determine whether your business is successful is to look at its profitability. This is especially true when it comes to startups and side-hustles. If an emerging business can beat the odds to become profitable early on, that's a great sign that...
When will I start making money from my business? It’s one of the most important questions you should ask before you start even business. Even the "no upfront costs" business ideas still require a certain financial commitment. Let's take dropshipping for example. The main appeal of...
Most businesses come as a result of one good idea (for a product or service), offered to others or a price. But unless that product or service brings in enough money for you to make a good living, it won’t survive. So, how do you know...
Knowing what you are spending is essential to maximizing what you will earn. Apart from keeping an eye on your operational costs and other businesses expenses, you should also understand how much does it cost you to produce (source) your products or deliver a standard...