Website Editor No Comments

Could Your Business Survive a Disaster?

As business owners, we want to remain optimistic about our business’s future. But life can happen, and we need to be prepared.  A good business owner thinks about all the risks to their business and has a plan in place to reduce or eliminate them.  In 2017, we’ve already had floods in the Midwest, a healthy dose of tornadoes, and an ice storm.  And those are just the weather disasters. Are you prepared for a disaster? In 2015, Nationwide ran a survey that revealed that three out of four Read more [...]
Patricia Anderson No Comments

5 Metrics to Gauge Your Business Performance

Sometimes, the most telling numbers in your business are not necessarily on the monthly reports. Although the foundation of your finances revolves around the balance sheet and income statement, there are a few numbers that, when known and tracked, can make a huge impact on your business decision-making. Here are five: 1.  Revenue per Employee. Even if you are a solo business owner, revenue per employee can be an interesting number. It’s easy to compute: take total revenue for the year and divide Read more [...]
Patricia Anderson No Comments

The Triangle of Fraud Risk

A 2014 Global Fraud Study conducted by the Association of Certified Fraud Examiners (ACFE) estimates that the average business loses five percent of their revenues to fraud. The global total of fraud losses is $3.7 trillion. The median fraud case goes 18 months before detection and results in a $145,000 loss. How can you avoid being a fraud victim? The Fraud Triangle The first step is to become more aware of the conditions that make fraud possible. The fraud triangle is a model that describes three Read more [...]
Patricia Anderson No Comments

The One Question to Ask Each Day

As a business owner, you’re likely torn in a hundred different directions every day. It can take up most of the work day just fighting fires, serving your customers, and answering employees’ questions. It’s super-easy to lose sight of what you can be doing to move your business forward the most. That’s when “the one question” can come in handy. It’s something you can ask yourself at the very beginning of each day, even before you check your email. The one question is, “What’s Read more [...]