Is Your Business Charging Enough for its Products and Services
Every business owner understands the importance of generating enough profit to stay afloat. But how do you know if you are charging enough for your products and/or services? Pricing is just as much an art as it is a science, and there are several different variables that go into deciding how much to charge for […]
Valuing Intangible Assets During a Business Sale
When selling a business, you need a proper valuation to ensure that you receive a fair price for the years you have spent building your company. This will include valuing tangible assets such as your equipment, inventory, and real estate, as well as intangible assets such as goodwill and intellectual property. As challenging as it […]
Importance of Online Marketing for Businesses
Digital marketing has become increasingly important in recent years, particularly for businesses that cater to the younger generations. But with the coronavirus outbreak having literally forced a large percentage of our population to stay-at-home (except for essential activities), even our older population has started to get used to interacting with businesses online. Those businesses that […]
Five Important Benefits of Doing a Business Valuation
Most owners do not obtain a valuation for their business unless there is an immediate need to do so. But even if you are not looking to sell your business in the near future, it is still a good idea to obtain a business valuation if you have not done so during the past couple […]
Strategies to Help Your Business Weather Inflation
As the US economy looks to put the Covid-19 pandemic behind it, another serious threat has been emerging inflation. In 2021, inflation totaled 6.7%, the highest level since the early 80s. Prices for some key items are up significantly more than the overall inflation rate. For example, energy prices were up 33.3% last year, the […]
Understanding the Future of Your Business
The coronavirus outbreak has disrupted every area of society, and in the business world, countless businesses that were deemed “nonessential” were temporarily closed. As things open back up, no one is entirely sure what the post COVID-19 economic landscape will look like. One thing that is certain, however, is that this pandemic will result in […]
Understanding Business Valuation
This is a trying time for business owners in many industries, and to add insult to injury, many of them have been unable to obtain access to the government assistance that was promised. This has left countless business owners wondering if they will ever be able to come back, and unfortunately, some have decided to […]
Habits to Make Your Business More Successful
Cultivating good habits for a successful business is very important. Entrepreneurs who are disciplined and do the right thing at the right time run successful businesses. To achieve success in your business, your work ethic has to be strong, because your thoughts and actions are a major determinant of what you can achieve. There are […]
Selling Your Own CPA or Accounting Practice
There are a number of advantages and disadvantages to consider when it comes to selling your own practice. I have listed some below and discussed the rationale behind it. ADVANTAGES: Commission: The largest single advantage of selling your own practice is that you do not have to pay any commission. Commissions generated from transaction intermediaries […]
