Operational Strategy Problems

Operational Strategy Problems Most small business managers have a fairly clear idea of the company strategy and mission. Whether your staff has the same understanding, and whether business operations are set to maximize strategic advances is a different question. Strategy Development Problems arise when those most familiar with operations such as line staff and operations […]

Point of Sale (POS)

Point of Sale (POS) System Inventory software programs now on the market let you track usage, monitor changes in unit dollar costs, calculate when you need to reorder, and analyze inventory levels on an item-by-item basis. You can even control inventory right at the cash register with point-of-sale (POS) software systems. POS software records each […]

Using Cash to Pay Employees

Using Cash to Pay Employees While it is not illegal to pay employees and independent contractors in cash, it’s not a good business practice for many reasons. Some businesses use cash to pay employees in an attempt to avoid paying payroll taxes. Payroll and Tax Issues When Paying Employees In Cash Employers must withhold payroll […]

Investment Objectives

Investment Objectives Help Stock Market Investors Focus on Goals Investors can use a variety of tools and strategies, but without clear investment goals, they might not achieve as much as they would like. Investment objectives give you a target to aim for, and the right investment product is the tool that will help you reach […]

Leadership Style

Delegation as a Leadership Style Your leadership style is situational. Your leadership style depends on the task, the team or individual’s capabilities and knowledge, the time and tools available and the results desired. As a supervisor, manager or team leader, you make daily decisions about the appropriate leadership style to employ in each work situation. […]

The History of Lean Planning

The History of Lean Planning Lean Planning is a concept that we introduced back in 2012 as an evolution in business planning. The traditional business plan just wasn’t fitting the needs of modern, fast moving companies and it was time to bring more of a scientific approach to business planning. There’s nothing wrong with planning, […]

Customer Retention

5 Steps to Improving Customer Retention When your business is just starting out, acquiring new customers has to be your primary concern. But once you get beyond the initial stages, the key to real growth is not so much getting new customers, but customer retention. Many small businesses are falling short when it comes to […]