Business

“We love our customers!” Every business owner says it. But all customers aren’t created equal, and it’s in your strategic interest to know which profitable customers are strengthening your bottom line and by how much. Sorting out the data If your business systems track individual customer purchases, and your accounting system has good cost accounting […]

You’ve probably heard the term and wondered whether it could happen to your company. Maybe it already has. We’re referring to “digital disruption” — when new technologies and business models affect the value proposition of existing goods and services. Read on to discover 5 ways to dance through digital disruption. Perhaps the most notorious recent […]

If your estate plan includes a revocable trust — also known as a “living” trust — it’s critical to ensure that the trust is properly funded. Revocable trusts offer significant benefits, including asset management (in the event you become incapacitated) and probate avoidance. But these benefits aren’t available if you don’t fund the trust. Have […]

Estate planning typically focuses on what happens to your assets when you die. But it’s equally important (some might say more important) to have a plan for making critical financial and medical decisions if you’re unable to make those decisions yourself. That’s where the power of attorney (POA) comes in. A POA appoints a trusted […]

From the baseball field to the boardroom, statistical analysis has changed various industries nationwide. With proper preparation and guidance, business owners can use Key Performance Indicators to monitor company performance — far beyond the bottom line on an income statement. The metrics in question are commonly referred to as key performance indicators (KPIs). These formula-based measurements reveal […]

Bonuses can be an effective way for employers to reward hourly employees for an outstanding year. Some employers also offer a bonus as an incentive to meet certain productivity or sales goals.  Make sure you understand the definitions of each type of employee bonus and are computing and reporting overtime pay correctly when a bonus […]

A primary goal of estate planning is asset protection. After all, no matter how well your estate plan is designed, it won’t do much good if you wind up with no wealth to share with your family.  Are your retirement savings safe from creditors? If you have significant assets in employer-sponsored retirement plans or IRAs, […]

“Sorry, we don’t carry that item.” Or perhaps, “No, that’s not part of our service package.”  How many times a year do your employees utter these words or ones like them? Lost sales are lost opportunities. The specific number is critical because, if you don’t know it, you could be losing out on profit potential. Although […]

What could stop your company from operating for a day, a month or a year? A flood or fire? Perhaps a key supplier shuts down temporarily or permanently. Or maybe a hacker or technical problem crashes your website or you suddenly lose power. Whatever the potential cause might be, every business needs a disaster recovery […]

Does your business have too much cash? From the time a business opens its doors, the owner is told “cash is king.” It may seem to follow that having a very large amount of cash could never be a bad thing. But, the truth is, a company that’s hoarding excessive cash may be doing itself […]