For most employees, the end of the year or the beginning of the New Year means facing the dreaded performance review. They’ll have to face their shortcomings and recommit to previously stated goals, while also promising to achieve more.
The end of the year can mean many things to many people. But for small business owners, the year’s end presents an opportunity to get past the cluster and apathy that’s built up for the past twelve months…
Borrow now or wait and see? It’s a question small business owners ask all the time. In many cases, it’s when interest rates are trending down.
Borrow now or wait and see? It’s a question small business owners ask all the time. In many cases, it’s when interest rates are trending down. But the same can also hold true when interest rates are rising. Either way, the question is important because the answer has far-reaching consequences. Of course, it takes a bit of creative guessing since no one can accurately predict the future.
We’ve all heard that giving people more for less is a clever business strategy. After
all, who doesn’t want to pay a lower price for a given product or service? Most
consumers will jump at the opportunity to save a little money. But this philosophy
doesn’t always apply. And sometimes, it can backfire big time. That’s right—lower
prices don’t always translate into higher sales levels. In fact, lower prices may have a detrimental impact on a business’s bottom line. But why?
Small businesses and bonuses aren’t synonymous. Such “lavish” gifts are associated with big companies and organizations with tons of employees, bringing in oversized profits. But there’s no denying the benefits of bonuses: increased motivation and productivity, improved morale and retention, and better alignment with company goals. However, small businesses often operate on small margins or moderate profits, making every expense count. So, how can a small company reap the benefits of giving employees bonuses when money is tight?
Small businesses not only need ways to stand out from competitors but also to provide customers with unique value. That’s not an easy task. Fortunately, it’s not necessary to reinvent the wheel. Instead, entrepreneurs can take a page from a proven playbook. And one great place to find such a combination is Disney.
Small businesses generally run on relatively small orders. It’s usually volume that makes the difference, and it’s also why entrepreneurs desire big-ticket sales.
Starting, growing, or navigating a small business through an expansion or lean sales period can present several challenges. Not the least of which is racking up significant company debt. These balances add up fast, and before you know it, they’re eating well into your profit, and possibly, erasing your income altogether.
Super-small businesses face many challenges. Not the least of which is manpower.