Management Consulting

There’s a market for every price point. Find it, find your price and don’t ever sell anything that isn’t profitable. If you’re not making a profit, it’s not worth being in business. Pricing for profit. It’s easy to say and easy to remember, but it’s a challenging concept for many entrepreneurs. When you don’t price…

Without sales, you have no revenue. Without revenue, you have no business. So, how do you create a successful sales program? It’s so true that nothing happens until something is sold. The question that we like to ask small business owners is “what are you doing to support sales and getting it done”? Let’s focus…

Most business owners think if their business partner files bankruptcy, they aren’t affected. The partner was supposed to shoulder 50% of the business risk, and his personal guaranty is meant to support 50% of the outstanding loan balance, right? Wrong.   When creating a business with a partner, few entrepreneurs truly understand how that act intertwines…

Being a success starts with caring for the people who work for you. When you show genuine interest, care and attention, your employees will go to bat for you when you need it. Making a habit of stopping by to chat with your employees face to face on a regular basis to get a sense of…

When outstanding debt for $600 or more is discharged, you’ll receive a 1099-C debt cancellation income notice from that creditor, and that amount must be filed as “other income” on your federal tax returns. You are not automatically responsible for paying income taxes on the 1099-C income, but here’s what you must know to avoid…

When deciding what type of expansion to employ, the decision comes down to a matter of preference, strategy, opportunity, market dynamics and the availability of capital to support the growth requirements. This article will help you choose the right path. Various, distinct strategies can support profitable growth and development. Two examples of these strategies are…

Follow these tips to make your team happy, hardworking and effective. You’re paying your sales force too much if you’re giving them a significant salaried paycheck. Their salary should be just enough to cover their food, gas, and overhead costs, with their checks based largely on sales, not salary. The key is to design an effective…

How to anticipate and prevent a downturn in profitability. Timing. That’s what it’s all about when it comes to tracking potential downward trends as a small business owner. One of the advantages small businesses have over big businesses is their ability to see results immediately. However, this takes persistence and dedication to review and tracking…

Far too often, business partnerships fail because of poor planning in the beginning stages. Two friends decide to make their dreams come true by starting a business together. Every aspect of the business—including ownership and decision-making—is split 50-50. Often times, one partner provides the money and the other contributes sweat equity. While it’s happening, it…

Take these tips into account when setting up your commission rates to achieve numbers that work for both your valued employees and your bottom line. Establishing commission rates for a particular employee or job title can be tricky territory to enter. Setting a commission rate should accomplish several things: Instead of following the path of…