Topic 4: Does your business make a profit?

Fundamentals of Business Are you one of the millions of Americans who recently quit their job and started your own business?  Your business exists to make a profit by providing goods and services to customers.  But how do you know if the business makes a profit?  Simply counting the cash in and cash out can be good […]

Topic 3: Does your business have the right employees?

Fundamentals of Business Employees can make or break the success of a business, and it is critical to hire the best employees you can afford.  Your employees will make thousands of decisions that affect the profitability of the business, and there is a measurable financial cost to under-performing employees.  While there are many resources that […]

Topic 2: Does your business need a budget?

Fundamentals of Business It is budget season! A budget provides a map for the road ahead, and every business needs one.  A business can use a budget to plan for revenue, expenses, staffing levels, cash flow and financing needs, making long-term investments (capital expenditures), and expansion of the business. Now is time of year to […]

Topic 1: Does your business have enough cash?

Fundamentals of Business Beginning with this article, I am starting a Fundamentals of Business blog. I will be writing short articles for new small business owners, and I also hope more seasoned owners will find the reminders helpful. These fundamentals apply to all businesses and will be true regardless of the economy or phase of […]