If you can measure it, you can track results — Budgeting & Forecasting
Balancing the Budget Budgeting and Forecasting is a vital key to business success as the budget is part of the goal-setting process for any thriving company. The forecast helps the business owner understand if he or she is on track to achieve both short and longer-term goals during a set time period. Many businesses have […]
Why Your Small Business Needs a Disaster Recover Plan and How to Build One
Do you need a Disaster Recovery and a Business Continuity plan? The answers to the following questions will dictate what your response must be. Do you have clients? Do you have employees? Are you providing products and services that your customers value? If you answered yes to any of these questions, then you absolutely need […]
10 Strategies to Help Small Business Leaders Prepare for Year End
Year end is a busy time of year for finance & accounting staff. It is that time of the year where we draw a line in the sand and take a gauge on how a business performed over the last 12 months. Most businesses run their fiscal year in sync with the calendar year, and […]
How to Perform a Market Analysis and Define Your Target Market
“Strategy 101 is about choices—you can’t be all things to all people.” Michael Porter’s advice is key to understanding how your business identifies a target market and develops a solution to meet the identified need. One of the fundamental parts of any business plan is the market analysis. The business owner will quantify the “problem” […]
Why Risk Management Is Important to Small Business and How to Manage it for Growth
Risk is inherent to every part of a business. Companies need to take risk in order to grow, become profitable, and contribute to the economy. Risk management is the practice of identifying, analyzing, understanding, and controlling risk, helping to ensure capital and earnings are maintained. Risk management applies to all aspects of a business and […]
How Small Business Can Manage Credit Risk
Credit risk, or the risk of customer payment default, is very important for all businesses, but it can be a matter of success or failure for a small business enterprise. A small business must manage their credit risk well in order to ensure their business can function. Credit risk is a key issue that has […]