Profit First

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10 Great Ways to Increase Profits

Profit is the bottom line of an income statement. There are a lot of items above it that affect it, such as revenue and cost. A good understanding of what drives profit gives better footing in crafting specific strategies that will lead to a higher bottom-line value. We have listed ten great ways to increase …

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Do I Need to Register My Home-Based Business?

Many people dream about taking charge of their financial future by owning their own business. Aside from thinking about operations, it would be best if you also gave your company an identity – which means registering it. But, is this part really needed, or is it a step you can do wIthout? Here are five …

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Profit First for Growing Businesses With Mike Michalowicz | Special Episode from Annette Fergs TV

I got to talk with none other than Mike Michalowicz, the genius behind Profit First, and bestselling author of the book with the same title. You can watch our conversation here: The Profit First Backstory Profit First came out of Mike’s own desperation. It’s a solution he needed for himself, and it’s a solution you can use for your …

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When Does A Business Become Insolvent?

The coronavirus 2019 has been cruel to humanity for the past few months. It has forced the world into a screeching halt. People’s lives were changed in just a span of a few weeks, and millions of people are now affected by the said virus, businesses are becoming insolvent. As the world stopped, though, another …

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How to Raise Your Prices the Right Way

Maybe you’re finding yourself swamped with new clients, and you cannot refuse new ones who want to get on board. This issue is a beautiful problem to have as an entrepreneur. One of the ways to address this is by increasing your price. Your new price would act as a filter that would sift through …

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How Much Should I Spend On My Marketing?

Would you believe that most companies fail in the introductory phase not because of the lack of business activity but rather because of disproportionate or inappropriate spending? When you first open a business, whether online or offline, a considerable amount of time, effort, and money must be spent to grow it. However, it’s also important …

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When is The Right Time to Hire?

Hiring one or more talents could be one of the most challenging decisions a business owner has to make from time to time. However, it doesn’t have to be. As long as you are clear on your current financial position, the vision you have for your business, and the future financial projections, you will be …

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Does Your Business Have Money Leaks?

A money leak means money that goes out of the business that is unnecessary. While these spendings may seem small and insignificant, once they add up, the amount of money spent is actually significant. This step by step guide may help a business owner systematically eliminate money leaks. How to Identify Money Leaks 1. Pull out all the …

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Business Budgeting In A Recession

Recessions are an unpredictable and deadly phenomenon for most businesses. No matter how economists predict it, downturns can come swiftly to sweep us at our feet, crippling our businesses without even having time to prepare for the market crisis. With everyone panicking to find a quick fix, entrepreneurs may find themselves at the forefront of …

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