Profitability

Your Small Business Model Doesn’t Have to be Complicated

  One of my favorite expressions I hear from small business owners is, “That doesn’t fit my business model.”  I have sometimes followed up when hearing that and asking simply, “What is your business model?”  Usually, I am told a lot of “stuff” about demand, processes, partners and things that really aren’t overwhelmingly important.  In …

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GOOD ENOUGH ISN’T GOOD ENOUGH

Your business is more than finance.  Your business is a combination of things. Running your own business can be fun, or it can be painful.  If you understand that Revenue minus Cost of Goods Sold equals your Gross Profit (some people call this Gross Margin), that is a good start.  From that gross profit, you …

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Are the New FLSA Requirements Really a Problem for Small Business?

The US Wage and Hour Division announced sweeping changes to the regulations that define exemption rules from the overtime provisions under the Fair Labor Standards Act (FLSA).  Many Small Business owners understandably have concerns as it relates to the new requirements, specifically the salary requirement of $47, 476 a year or $913 per week.  While …

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 How Innovative Leaders Develop Solutions through Flexible Work Options

Like many business owners, John’s business was cyclical.  Some months he was heavily producing while in other months he was minimally producing.  At times the differences were extreme enough that John either employed seasonally or simply conducted hiring and layoff actions to accommodate.  Over time John’s method, while having become accepted in the area, became …

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