In a nutshell, all businesses exist to solve problems. Why people engage with a business is because the business owner can achieve the desired result faster than the customer could achieve it themselves.
Its amazing how many times I’ve sat down with somebody and I ask, why did you go into business? And all I get are blank stares and no clear-cut responses. It’s rare that I get an answer with such conviction that it shows me why they started their business. Some of the more common responses I get are:
Ask any successful entrepreneur about their path to greatness and you’ll get the same answer: failure is an inevitable part of the journey.
Every business can benefit from dedicated financial management expertise, but very few small businesses have the means to hire someone full time—particularly in the lean early years.
Almost one-third of small business owners report having high levels of psychological distress, Beyond Blue has revealed in a new guide targeting the mental well-being of small business owners.
Many entrepreneurs operate with their business processes and systems in their heads. They know what they need to do each day and the way they want to get things done.
At some point in its lifetime, every small business suffers from cash flow problems. The trick is to think ahead and figure out when these problems are going to arise, so you don’t have to unexpectedly postpone a purchase or hurriedly seek out additional finance. This is where cash flow forecasts come in.
What exactly is profit in a business? This article shows you how to avoid three common profit mistakes that can seriously affect the success of your business.
Sales and profit are two very different things – as a business owner, you can find yourself without the cash to pay bills despite making sales you knew were profitable. You may also be startled to discover that strong cash flows from sales deliver little profit.