Not long ago, I helped a business owner solve a problem that was costing her money. She was pretty frustrated about her employees not meeting work deadlines. She had planned for the people and equipment needed to fill customer orders. She hired qualified and experienced people. Still, deadlines were being missed. It was my job to find out why and help her to fix it.
After my review, the reasons for low productivity became clear. Employees were spending a lot of time fixing mistakes and re-doing work tasks. Employees were often unaware of how the timing and condition of their work impacts the next person’s work.
Continue reading “Is Training Worth the Investment?”
How do you know that your product or service is priced right? Sure, you can compare prices with your competitors. But are you making money at that price? Knowing whether your business is priced to cover costs and have some leftover seems pretty straightforward, right? Not necessarily.
Many businesses track the funds coming in to know their income. But they often do not have clear and accurate information about expenses to know if they are profitable. One key factor is recognizing all the costs of doing business.
Continue reading “Price and Profit”
Non-profits and small businesses often look to grant funding to expand services or start a new program. Grants don’t need to be re-paid, but the money is not entirely free. Addressing these five important questions before applying for grant funding will simplify the process, reduce overall costs, and relieve stress.
Continue reading “Ready for Grant Funding?”
You may have heard that on October 1, major U.S. credit card issuers caught up with other world economies and transitioned to full adoption of EMV chip-enabled cards to reduce credit card fraud. This change is big for small business owners, as described recently by the Small Business Administration in it recent post “Migration to EMV Chip Technology and Your Small Business”. http://1.usa.gov/1iDftDB @SBAgov
Continue reading “Credit Card Liability Shift”