Finance — Blog

The #1 Mistake Many Small Business Startups Make

Managing a company, whether it is fast-growing or well-established, is not as simple as it may seem. There are many pitfalls, particularly when the fundamentals are neglected.

Business Ownership Is an Opportunity, Not a Guarantee - 7 Mistakes to Avoid

45% of businesses fail during the first five years. Avoiding these 7 common mistakes can help companies stay on the path to success.

How to Write a Business Plan You Will Use

A business plan that you like to refer back to should prioritize strategic aspects crucial for your company's success.

5 Key Marketing Metrics Every Small Business Owner Should Track

Tracking 5 standard metrics offers an efficient way to evaluate the effectiveness of a company's marketing spend without adding much extra time.

Setting up Shipping Zones in Shopify

Shipping zones in Shopify are a great way to control which products ship to which locations.

What Is CPL? — Cost Per Lead

The cost per lead (CPL) measures the average amount a company spends on getting one new lead from an advertising campaign. Apply these five tips to reduce the cost per lead and increase the effectiveness of your advertising campaign.

How to Manage Your Inventory With Shopify

Companies with manual inventory management often struggle with unfulfilled orders, inaccurate reports, write-downs, write-offs, and high warehouse costs.

If Your Business Has Employees, You Must Know This Ratio

Companies with employees must know how much sales they must bring in and how much gross profit their products must make to cover their staff's costs. The metrics sales per employee and gross profit per employee can set the right thresholds.

Baselining Shows Customers How Good You Are

Like taking a before picture, baselining creates a reference point against which you can compare your improvements.

How to Identify Your Top-Selling Products

A top-selling product has a high gross profit and sells in large quantities, contributing significantly to a company's profit.

How the Metric Days of Inventory Remaining Can Help Grow Sales and Free up Cash

The inventory ratio Days of Inventory Remaining uses past sold quantities to predict how many days a product will still be available until inventory runs out.

How to Prepare Your Business for Growth

Many small businesses are not prepared to add employees and grow. Their workflows are too founder-centric.

Don't Put Off Your Bookkeeping

If you have trouble answering how much money your company makes monthly and what its profit drivers are, your bookkeeping probably needs an upgrade.

Measure Twice, Cut Once! Intro to Project Management

Projects can be events, weddings, photoshoots, house remodels, interior redesigns, and website launches. They usually share three critical characteristics: scope, time, and cost. Successful project managers follow eight best practices.

Is Your Business Idea Scalable?

Even if you want your company to stay small, scalability is the main reason your business is financially viable.

Just Because You Can Doesn't Mean You Should

As a business owner, nobody will tell you what to spend your time on. But if you and your family have to live off your company's income, entrepreneurs suddenly face significant challenges.

How Business Cases Can Improve Your Decision-Making

How decisions will turn out in the future is sometimes hard to predict. But not always, if you develop a business case before making an important decision.

How to Create Proposals Faster

Using standardized components can significantly reduce the time spent creating proposals.

As a Solopreneur, Who Do You Ask for Advice?

Speaking to a business coach with extensive business experience in various industries could sometimes prevent costly mistakes and save solopreneurs a lot of time — and their company.

5 Signs Your Business Is Too Complex — and What You Can Do About It

Simplification is the best cure for complexity. Here are 5 signs to detect unnecessary complexity in your own business and 3 steps to reduce it.