When it comes to running a small company, considering every expense is as important as it is for big businesses. In fact, we can argue that it is even more critical for a survival of your company. In addition to product itself and its cost, expenses for packaging and shipping can be significant and should not be neglected. Often, the choice of boxes can greatly improve your profit margins, and the … [Read more...]

Expanding as a result of business growth is a goal of almost every company. Yet, the timing of expansion is critical, since expanding at the wrong time can lead to cash flow problems and even bankruptcy. It is important to recognize the signals for expansions. These can vary, from flattening sales to inability of your company to handle the demand. If your business can acquire the top talent and be … [Read more...]

Although there is really only one type of air, there are, in effect, several types depending on what we need it to do. Ventilation air provides the necessary removal of excess moisture, carbon dioxide, etc. Make-up air comes in from the outside to replace exhaust. Combustion air is used with fossil-fueled appliances. Today’s HVAC systems are well designed, but older buildings tend to be leaky. … [Read more...]

One of the pillars of good customer support is the ability to answer the phone calls promptly. However, for small businesses, this is not always possible due to staffing constraints. Incoming calls are routed to voicemail, and the greeting that you have set up plays an important role in perception of your company. The actual greeting can serve several purposes. It acknowledges that the caller … [Read more...]

Business sales are taxed as capital gains. The sale price minus the original cost is the capital gain, and the tax rate is much lower if the business was held for more than a year. Note that a business sale can be executed as an asset sale or a stock sale. Also, business assets (e.g., machinery) are included in the value of the sale. Purchase Price Allocation is the method used to calculate fair … [Read more...]

The value of podcasts as a source of information is often neglected, but the truth is podcasts are a great channel used by entrepreneurs in order to share their ideas and stories of success. Many business professionals listen to those podcasts in order to better understand best practices on a variety of topics. Interview of entrepreneur group reveals that some of the best advices they’ve heard … [Read more...]

Before email took over as a primary form of business communication, faxes reigned in this realm. While conventional machines that send fax through phone lines are quite obsolete, fax itself is still present in business world. The shift has happened toward online services and those familiar with the benefits are not surprised. Digital service provides the combination of email convenience, while … [Read more...]

Good customer service leads to high customer satisfaction and an increased likelihood that a particular customer will repeat their business with you. The definition of superb customer support will depend on the type of business, but also, subjectively, on who you ask. Some of good practices are the same, regardless of which industry segment you play in. Ensure that phone calls are answered or … [Read more...]

A sense of responsibility that impels one to do what is expected, often arises from a sense of duty and integrity and a desire to keep a good reputation. Most would agree that the above constitutes the core attributes of accountability. And it's an absolute must in business. But even if the owner and CEO of a company intends to project and actually have nothing but accountability as the overriding … [Read more...]

Responding to online reviews can help your business as well as the way your business is perceived by others. When you are responding to an online review, take a deep breath and don't come across as overly emotional. You also want to respond as quickly as possible as the quicker you respond the more success you will have changing a detractors mind. Finally, don't get defensive and instead take … [Read more...]