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The idea of productizing your service is becoming quite popular especially on the internet. But what exactly does this mean? To productize your service means to set up your service so it behaves more like a product rather than a service. The idea of doing this is to increase efficiency and profitability.To do this right, you need to become efficient at doing one thing to the extent that you

One of the questions that come to mind as a freelancer is how to price your service. This question is especially important when you are just starting out. The probability is your first jobs will come from personal relationships you have and eventually you branch out to serve people you have never known before. If you have no experience in your chosen field, the starting out with no charge to

Shareholders of a corporation must hold shareholder meeting once a year. When more than one shareholder exists in a corporation it is important to have an agenda when calling a meeting.  A shareholder meeting agenda communicates the date and information of an upcoming meeting while the meeting minutes keep the formal record of the meeting. Agenda An agenda communicates the purpose and importance of the meeting and keeps everyone on

As a business owner you sometimes buy products with the intention of reselling it. When you buy a product for resale it is called inventory. Inventory becomes cost of goods sold Inventory is classified as an asset in the balance sheet until it is sold. When sold it becomes cost of goods sold. This is consistent with the matching principle. The matching principle aims to match expenses with revenue. Here

Business owners can easily create legal structures for themselves using services like legal zoom. However, what these business owners don't understand are the accounting or tax ramifications of choosing one structure over the other. A business owner may hear from a friend that a certain structure is good and then they adopt that structure without understanding what it means for their business. Depending on what structure you choose, the way