HOW ACTIVITY-BASED COSTING WORKS Activity-based costing (ABC) is an accounting method that allows businesses to gather data about their operating costs. Costs are assigned to specific activities – such as planning, engineering, or manufacturing – and then the activities are associated with different products or services. In this way, the...
Business
THE TURNAROUND PLAN FOR A TROUBLED COMPANY The Gestation Period of Crisis A crisis rarely develops overnight. The time between the initial cause of trouble and the point of intervention can run from 18 months to five years. What happens to a company during the gestation period has implications for...
WHY BUSINESSES GET INTO TROUBLED WATERS The Cause Trouble can be caused by external forces, and not under the control of management. Among the most frequently mentioned are recession, interest rate changes, changes in government policy, inflation, the entry of new competition, and industry product obsolescence. However, those who manage...
INTEGRATIVE BUSINESS GROWTH STRATEGIES – HOW TO GROW WITHIN THE INDUSTRY There are many opportunities for entrepreneurs to pursue integrative growth strategies – to grow their venture through acquisition. The acquisition is in many respects less about the financial ability of the entrepreneur to purchase another company and more about...
INTENSIVE BUSINESS GROWTH STRATEGIES – HOW TO GROW WITHIN THE CURRENT MARKET (PART 2) Product Development One of the ways to exploit the current product market is to develop new products and services for existing customers or offer new versions of existing products. That is the tactic employed by software...
First-time Homebuyer’s Guide: Applying for your first mortgage By Better.com This article was originally published on Better.com You’ve dreamed, you’ve planned, you’ve budgeted, and you’ve finally found that place you want to call home. Now, you just need to pay for it. Getting a mortgage isn’t always easy but, the...
KEY STEPS TO OBTAINING A BANK LOAN Before The Loan Decision Choosing a bank and, more specifically, a banker is one of the more important decisions a new or young business will make. A good lender relationship can sometimes mean the difference between the life and death of business during...
Three Easy Branding Ideas for Small Businesses to Give Your Brand Personality Perhaps you have your logo, your Instagram account up and slowly growing, and a website that shows your portfolio—but the inquiries aren’t pouring in like you thought they’d be. Or maybe you started your business three years ago...
5 Time-Sucking Tasks All Freelancers Should Automate in 2020 Source:https://images.unsplash.com/photo-1526948128573-703ee1aeb6fa?ixlib=rb-1.2.1&ixid=eyJhcHBfaWQiOjEyMDd9&auto=format&fit=crop&w=2250&q=80 When it comes to working as a freelancer, there’s no more important asset than your time. We’ve all heard something like this a million times. And yet, we continue to let less-important tasks absorb our time, sometimes finishing up the...
HOW FRANCHISING CAN AID YOUR BUSINESS GROWTH GETTING STARTED One of the most readily available ways of starting your own business is to buy a franchise. Compared to other forms of start-up, this is often a relatively risk-free method of getting established in business, because the development of the product...
