Controlling costs is essential to running a profitable business. If you don’t keep track of your operating expenses, it can become nearly impossible to catch issues that reduce your business’s profitability.
What do printer ink, client lunches and shipping costs all have in common? They’re business expenses—the costs incurred while operating your business. And, as long as you run a for-profit company, you can deduct many of these expenses from your taxable income which can help your business’s finances at tax time.
You have a crackerjack idea for a new business, and you’re ready to pursue it. Time to make sure you also have a crackerjack team to make it a success. Most small business owners don’t possess all the skills it takes to run every aspect of their business, and that’s okay. Maybe you’re a whiz with numbers who can handle all the finances, or you’re a natural sales pro who wins over every potential customer. But chances are, you’ll need help in other areas.
If you’re focusing on keeping your business in good financial shape even more than before, you’re not alone. To help, we’ve compiled a list of common business finance terms and definitions.
Any small business can get turned upside down by an unexpected event whether it’s from a wildfire or a hurricane. But having a disaster plan in place can help get you back in business quickly.
Business finances can be tricky, but managing your finances doesn’t have to be overwhelming. Keep an eye on your company’s financial health with our checklist of essentials to keep your business in good shape and manage your finances like a pro.
Online marketplaces not only help sellers reach a wider audience of potential buyers, but they also offer a year-round sales venue beyond seasonal street fairs, craft bazaars and art shows — one that doesn’t rely on good weather or holidays.
The information that you enter into a Generative AI tool (“prompts”) are a big influence on the quality of outputs you receive. More descriptive prompts can improve the quality of the outputs.
Examples of "act as if" prompts for ChatGPT. After you enter a prompt, the AI model analyzes your input and generates a response based on the patterns it has learned through its training. More descriptive prompts can improve the quality of the outputs.
Establish a basic payroll structure to help you hire employees. Then, manage employees properly with a general understanding of state and federal labor laws.
