Financials

Do you know you can become really good at doing something the wrong way? The 10,000 rule was popularized by Malcolm Gladwell and simply states that lots of deliberate practice can make an expert at doing just about anything. While the 10,000 rule does not always work in all circumstances for variety of reasons, there are instances it actually works in reverse. Take for instance the small business owner, who is good

As entrepreneurs we are often presented with new opportunities and more often than not new opportunities do not complement existing ones. However, running in too many different directions can be very exhausting. This articles provides suggestions as to evaluate new opportunities so as not to spread yourself too thin. Suggestions to help with not spreading yourself too thin Consider these bullet points to keep from spreading yourself too thin: Develop

Life is filled with many choices and every choice has a cost associated with it. Every change you make in your business affects cost one way or the other. Being able to predict the impact of the cost of a business decision is important. To understand what I mean let us take a look at Tom Longman. Tom Longman is an entrepreneur who owns Bacon Party Enterprises. Bacon Party specializes

Imagine rather than just your regular profit and loss statement, you actually have a cost report that showed cost by activity also known as the activity center cost report. The importance of breaking down your financial statement into activities is you can see what it cost you to complete the processes used in serving your customer base. The biggest thing you will gain from this report, is seeing your non

If you are feeling stressed in your business, it may be because you are trying to do too much. Your resources are not focused on doing what generates the most profits for your business. Bigger is not always better! Doing less could actually help you do more. For instance, if you have ten product lines and you are not getting the sales results you want, you can divest five of