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Financial Bits And Bytes
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Budgeting and Your Strategic Plan
What Are Your Plans? We are continuously making plans. Some are short term – where are we going to have dinner tonight, or how can we keep the kids occupied on the weekend? And some are long term – should we put a new kitchen in the house, or how do we plan for retirement? But what are your plans
Oh Brother – Hiring Relatives
Probably one of the greatest challenges facing any business is that of staffing and growth. Are you strategic and hire
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
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