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Financial Bits And Bytes
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Three Keys to Business Success
Over the years, I've had the opportunity to work with businesses of every size. Some have been start-ups with just a handful of employees. Others have generated hundreds of millions of dollars in annual revenue. Different industries, different owners, different challenges. But in spite of the differences, I've found an interesting commonality. Companies that are financially successful aren't necessarily the
How to Calculate Your Profitability: A Case Study
As Iowa State University reminds us, “profitability is the primary goal of all business ventures.” Business leadership is often responsible
Logistics Can Beat Product (Even Santa Needs Help Sometimes)
There are many elements involved in developing and manufacturing products for a customer. In fact, most of a company’s concentrated
Keep Proprietary Processes Secret
Companies create products or develop services to deliver to their clients. Many find a unique approach that gives them an
Ill-Defined Statement of Work
Any business doing custom work needs to carefully define the terms and expectations of the delivered product. Having open-ended, or
Identifying the Real Cost of Production
Knowing the actual cost of production is critical to setting accurate pricing and therefore profitability for any manufacturing company. How
Financial Reporting Drives Good Decisions
Problem The company used Cash Basis accounting for their operating statements because taxes were calculated on a Cash Basis. When
Family Business Case Study
A family business can be a great source of pride for everyone involved. However, working with loved ones can present
Every Man for Himself
Just as companies have multiple products to provide diversification to their revenue stream, some parent organizations have multiple companies that
Dealing with Obsolete Inventory
For manufacturers, retailers, or wholesale distributors, inventory is likely the largest item on their balance sheet. A particular problem that
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