CUSTOMERS DRIVING THEIR BUSINESS FORWARD

Improving Profit Margins One way to measure the financial health of your business is to look at its profit margin. The profit margin shows how your company makes money. It’s a ratio that’s usually calculated by dividing business income by revenue. The most commonly referenced profit margin is the net profit margin, which shows how …

What does your business need to succeed? You might be surprised to learn that it’s not the best product or the most innovative service. It’s not offering the lowest price, nor is it breaking certain records. Your business’ continued health and longevity depend in large part on the health of its relationships. Those relationships might …

Life and business both have their ups and downs. As the COVID-19 pandemic continues to keep many businesses shuttered and continues to wreak havoc on the economy, many business owners are finding themselves up against previously unforeseen challenges. Your emotional resilience influences how you respond to those challenges, both on a personal and professional level. …

At this point, it is an understatement to say that the COVID-19 pandemic has rattled businesses to the core. Many are trying to find ways to stay afloat after prolonged closures and many are trying to find ways to win back customers who might be trepidatious about going out and about or spending money on …

Your company’s sales can drop for a number of reasons. You might own a seasonal business that sees lots of activities during certain times of the year and a significant decrease in sales for the rest of the time. The state of the economy could be keeping customers away. Whatever the cause of slow sales, …

As a general rule, the more cash your company can keep on hand, the better. The phrase “cash is king” takes on new meaning in the middle of a recession or downturn, when your sales might have dipped and your revenues have fallen. There are many things you can do to help your business survive …

After being closed for several months or having your business activities dramatically restricted as a result of stay home orders, your county has finally given your business the green light to reopen, provided you take certain precautions. You might be ready to get back to business and establish a new normal, but are your customers? …

After several months of stay-home requirements and business shutdowns, companies across the U.S. are beginning to make plans for what comes next. For many companies, that means reopening and attempting to get back to normal as much as is possible. As your company prepares to reopen, your employees might be concerned about what going back …

Most people don’t want to think about crises coming up and throwing a wrench in their business plans. But crises can, and do, arise. You might find your business in the midst of one right now. While in some cases, a crisis, such as a natural disaster, a scandal or novel virus that causes a …

Raising capital for your company can be challenging enough during times of expansion and when funds seem to flow freely. How can you get the funding you need to keep your business operational during a downturn or recession? While raising capital can be more of a challenge during financially difficult times, your business does have …

As much as you would like it to, things won’t stay the same at your company forever. Your favorite employees might move on to new roles or new projects at some point. You are likely to eventually decide to try something new, retire, or sell your business. Knowing who can step forward to replace managers …

At the end of March, the Senate voted to pass the Coronavirus Aid, Relief and Economic Security Act (CARES Act). The Act was signed into law by the President shortly after it was passed. An unprecedented relief act, CARES is a stimulus bill designed to provide more than $2 trillion worth of financial relief to …