Expenses

80/20 Expense Analysis

The term 80/20 expense analysis is not one you hear every day, but it is a concept that can be highly useful to managing and improving a business. Read the rest of this entry »

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80/20 Accounting

The 80/20 rule (Pareto Principle) is one of the most useful we will ever encounter. Let’s discuss its use with 80/20 accounting. This is about focusing on the 20% of customers, products, expenses, etc. that account for most of our company’s results. Read the rest of this entry »

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Keep Business and Personal Spending Separate

You’ve probably heard it is a good idea to keep business and personal spending separate. There are some very good reasons for that. Read the rest of this entry »

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Financial Literacy for Business Owners

If you are a business owner you may already be financially literate, but just how strong is that literacy? Even if you are there are likely some things your CFO, Controller, or in-house accountant can do to improve your understanding of your financial situation. On the other hand if you aren’t financially literate then these same people should be helping you to become so. Read the rest of this entry »

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The Latest is Not Always the Greatest

We live in a time of constant change. As a result of this and effective marketing, some companies get people to buy things they don’t really need. What do I mean by that? Read the rest of this entry »

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The Details Matter in Business

How well do you know the details of your business’s expenses? Just as in your personal life, the details matter in business. Read the rest of this entry »

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Buying Insurance Is About More Than Cost

When it comes to buying insurance it is easy to get focused on just the cost. That can be a big mistake because buying insurance is about more than cost. Read the rest of this entry »

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Don’t Let Vendors Become Complacent

If you are diligent you will likely find that you can get better deals from your vendors than you are led to believe. Read the rest of this entry »

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Shop Around to Find Quality Insurance for Less

Do you find your business’s insurance cost getting more expensive each year with no better coverage and perhaps less? Beware of complacency. Read the rest of this entry »

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Actively Manage Expenses to Increase Cash

Increasing cash involves paying attention to numerous things and acting in a timely manner. Let’s briefly look at how expenses impact this. This is the last of a series of posts on this topic, following ones on converting Read the rest of this entry »

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