A retail business’s inventory is among its most precious assets. As it has been proven to be the case, in the global ever-growing economy, for inventory-intensive industries such as retail, hospitality, and manufacturing, an entity’s finished products, raw materials, and other components are at the heart of its business. Therefore, a shortage of inventory at…
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Its been a long pandemic and it still continues to exist. Amid this pandemic, we have figured out a lot of solutions to our problems, a lot of ways to manage everything around us. We have changed some old methods and have transformed them into something that suits current situation and adjustments. One such…
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However you look at it, email marketing continues to be a powerful advertisement tool, even today. But it is also one that most businesses allow to go underused and is underestimated most of the time. It doesnt take a genius to look at the numbers and realize the potential value there, yet for every…
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Have you ever wondered how investors and other interested parties assess the financial position of companies before they become shareholders? Alternatively, how do shareholders make informed decisions regarding a company? Parties interested in a company carry out a financial statement analysis to make these decisions. An analysis of financial statements would include a study…
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According to the Bureau of Labor Statistics, about half of all businesses will close in their first five years of operations, and one of the most common reasons for closure is mishandling funds and running out of money. Rather than malicious fraud or disastrously low sales, what usually leads to financial crisis comes down…
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The old adage “it takes money to make money” couldn’t be truer in the world of entrepreneurship. Unfortunately, getting the money that you need to expand or sustain your business is not always going to be easy. In some circumstances, you will be able to finance business endeavors with the revenue that your business is…
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Website conversion rate is an essential metric to track for businesses large and small. A business owner or company leadership can learn a ton about consumer trust, website usability, lead generation, website optimization, user interaction, and more via conversion rates. Understanding your conversion rate more can also help you allocate precious marketing dollars toward the…
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For startups and small businesses, bookkeeping can be a real challenge. As an owner or manager, you encounter these three options for accounting: do it yourself, hire an employee to do it, or let a third party take care of it. All of these options have drawbacks. With your spread-thin time, doing it yourself eats…
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Let’s outsource the accounting department. Now this sounds like a sweet plot for a fun Americans sit com show, but its actually a very effective way to handle your book, especially as a small business owner. Most of the young entrepreneurs tend to make mistakes such as improper team management, lack of multi-domain experience,…
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