How to keep your customers coming back to your ecommerce store

Attracting new customers to your ecommerce store is a must if you’re going to make a profit, especially in the early years of running your business. It’s one of the best ways to boost your sales in the short term, and grow your store. But there’s a lot of effort involved in acquiring new customers—it can cost six times as much as retaining...

Key management skills to grow your business

Many small business owners start out with a good business idea but little concept of what it takes to manage and grow a business. The good news is that you can definitely learn and improve your management skills as your business grows. And while there isn’t a definitive list of skills, the ones we’ve listed below could help you to build your...

The Elephant in the Warehouse – Inventory Carrying Costs

It’s time to address a subject that a lot of companies fail to notice or incorporate into their business planning – the costs of carrying inventory. Inventory costs money to purchase, this much is a given; however the cost of the inventory goes far beyond that. Typically, (if accurate values are not calculated on a case-by-case basis) the total...

Common mistakes made when calculating payroll costs

Knowing what your payroll costs are – daily, weekly, monthly and yearly – is an important part of running a successful business. It allows you to forecast future wage costs, ensures you don’t have any surprises come pay day, and gives you confidence in the stability of the business. But do you know the TRUE cost of your roster?

Top 7 Tips for Finding the Right Business Software

You almost certainly started your business for one of two reasons: you can do something better than anyone else, or you have a burning passion so deep you cannot focus on anything else. And if you’re lucky, it’s both. You didn’t start your business because you wanted to track cash moving in and out of your bank account. Nor to complete...

Understanding Perpetual Inventory

A perpetual inventory system is also known as a continuous inventory system. The premise of this type of inventory system is that is allows businesses to keep a real-time account of what inventory they have in stock.

Field Service Management – Out from the Shadows

Colour-coded job sheets on clipboards. Customer details stuffed in manila folders. Rooms full of grey filing cabinets overflowing with clip-lock files. Cardboard boxes bursting with service manuals arranged in rough alphabetical order. Handwritten notes, 8am sales meetings in sweaty city offices and well-thumbed street directories in company-car...

Social media: are you using it for your business?

Social media is a great tool; it’s a route to new and different customers and a direct way of communicating with your existing customers. It’s also a free way to build brand recognition and create a name for yourself in your field. So it’s surprising that many businesses still don’t have a social media presence. Sometimes this is a...

Assessing Your Mid-Year Milestones

Wow, it’s hard to believe that 2015 is half over already!  Now that we’ve crossed the mid-year mark, it’s time to see if we’re on track to hit our 2015 goals.  In order to do that, we need to see if we’ve met our mid-year milestones. Managing By Milestones A milestone, in project management terms, […]

Is Your Revenue Forecast On Course?

A great way to start the year is to get clear on exactly how you can make your revenue goals.   A revenue forecast is the perfect tool.  You’ll need to be proficient in Excel, and if not, you can use a tool like LivePlan ( which makes business planning much easier. The first step […]

How to Read Your Balance Sheet

The Balance Sheet is a primary report in your business’ financial statements.  Many small business owners are unsure of what all the numbers mean on this report, so here are some basics.

Is There an App for That?

The technology side of business is rapidly changing and expanding.  There is no shortage of new and innovative software applications springing up to help small businesses automate their processes and save time and money.

Summertime Strategies for Your Business

Summer is a fantastic time of year not only for the weather; but also offers you a chance as an entrepreneur to press pause and take stock of where you are, congratulate yourself on what you’ve accomplished so far this year, and make adjustments to your future plans.  Here are five summertime strategies to help you regroup, reassess, and...

Does Your Small Business Need a CRM?

Have you ever stayed at a hotel and then returned for another stay, finding that they've stocked your room with everything you asked for the last time you were there?  Your special allergenic pillow was already waiting for you, you were asked if you would like a dinner reservation made just like you always do the first night, and there were even...

Essential Components of an Entrepreneur’s Compensation

The two major ways entrepreneurs can take money from their business is through draws or by receiving a paycheck.  The type of entity in which their business is set up will determine which method can be used.  In either case, entrepreneurs need to be careful not to shortchange themselves.

Five Browser Productivity Tips

As systems and applications we use for our business and personal pursuits are increasingly cloud-based, most of us spend a lot of time online and already have a favorite browser we normally use.  Google Chrome is the most popular browser with roughly 40 percent market share.  Internet Explorer follows with about a 30 percent share and Firefox is...

Go Green with Your Accounting

With St. Patrick’s Day and spring arriving, March is a great month to have “green” on the mind. There are green shamrocks, green beer, the green of new vegetation, and there’s even green accounting too. Here are five ways to make your accounting a little more green:

Is Your Business Using the Right Accounting System?

Have you ever tried on a shirt or jeans and found they didn’t fit at all? They looked great on the hanger, but that was the end of it. Accounting systems come in all sizes, shapes, and colors just like clothing; and just like clothing, some accounting systems fit your business better than others. It’s not that easy to spot in a mirror when an...
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