Business Performance

Starting and running a business is both an exhilarating and demanding endeavor. It involves not only your professional aspirations but also your financial investments. For many small business owners, the business itself becomes an integral part of their lives.

In years past, small business owners found themselves entering facts and figures into ledgers by hand, which took hours and hours to complete. Fortunately, financial software for accounting and bookkeeping has changed things dramatically.

Whether you have owned your small business for many years or are an entrepreneur who has just gotten started in the business world, you know today's business environment is more competitive than at any point in history. Because of this, it is vital that you make ongoing financial education for yourself a top priority.

When you own a small business, every dollar counts. Unfortunately, many business owners don't take this philosophy to heart, leading them to make various budgeting mistakes. While some mistakes are relatively small and can be easily corrected, others can have a devastating impact on a business.

As prices on various products and services have risen to levels not been in nearly 40 years, consumers and business owners alike are starting to wonder if inflation will be here to stay.

As you know by now, the COVID-19 pandemic has resulted in the world's supply chain going haywire. Along with this, it has altered the ability of manufacturers to produce the all-important computer chips that are used in so many things in today's world.

The current labor shortage is a strange phenomenon. According to the experts, there are millions of jobs available, but not enough workers to fill them. Now, along with supply chain disruptions and chip shortages, businesses of all sizes must deal with an absence of workers to keep their businesses running smoothly.

Do you feel the urge to start your own business? Whether you’re thinking of an online business or something firmly planted in the brick and mortar realm, you’ll be glad to know there are plenty of resources available to you. Most of the following resources are free. Some require a small investment.

Your business’ assets are one of its greatest strengths. They support your day-to-day operations, can collateralize a loan, and could manufacture inventory. It’s important to track and account for them accurately.

Maximizing customer value is an important part of maintaining and growing your business. Your customer value proposition is what keeps existing customers happy and brings in new business. Without a clear value proposition, you may have difficulties marketing yourself to new customers.