by The profit margin is something that every business has, but not every business owner understands. Small business owners especially struggle with this concept. In this tutorial we will explain exactly what a profit margin is, how to calculate it, and how to use it in your business. by
by I recently chatted with Joshua Cohen who is working on building a heritage website The Heritage Source. This site’s approach to heritage is unlike other heritage websites which traditionally simply focused on building heritage trees of people’s ancestry. Joshua’s approach is to understand heritage from a deeper place. His site will focus on understanding…
by In this article I want to share why CRM (contact relationship management) software is so critical for your business. I’ll also show a new mobile app and web based software that I like and recommend. This CRM syncs from mobile to your web based software so you can use it on the go as…
by Publicity is defined as any time someone is willing to endorse you for free. Publicity can be as little as a tweet if someone decides to tweet about you, simply based on the merit of some of your work. That happens from time to time. But the challenge that all business owners have is…
by As soon as people create their first website, they are faced with the question of how to make money from that website. Even when people who do not yet have a website think about how to make money online, the monetization strategy they usually come up with is to make money online with the…
by In this article we will go over whether you should write a business plan, when you should write a business plan, and go over a template of how the business plan should look like. Many people write to me and ask about these issues so I made a YouTube video and this article to…
by By pure accident, the concept of an executive summary is a convoluted one. The problem lies in the terminology itself. The term executive summary can actually mean two things. An executive summary can be either a single section in a long business plan which serves as the opening section. An executive summary is also…
by Understanding and correctly calculating the unit economics of your business is extremely important. It is a large part of a successful business plan, and the business itself. The term might sound complicated, but it is surprisingly simple. In an effort to help you understand how to calculate the unit economics of your business, we…
by Understanding your target market and the behavior patterns of your potential consumers is one of the most important and underrated aspects of planning and running a business. In fact, having a deep understanding of the needs and behaviors of your target consumers is one of the core fundamentals for almost any business. And…
by Business terms like revenue model, revenue stream and business model may seem like basic concepts, but many people get confused with these terms. In business, you often hear these terms being used with various levels of accuracy. And in this article I’ll try to provide clear explanations and definitions for what these terms are.…