Posts Tagged ‘e-commerce’

In Business You Must Keep Learning

For a company to survive be sure to understand that in business you must keep learning. There is no two ways about it; change is continuous and what worked yesterday or even today will likely not work in a few years or even a few months. Read the rest of this entry »

Share

Time to Try Something Different

How often have you or someone you know tried something repeatedly only to see it fail each time? For most of us it is more than we care to admit. It’s amazing how often people act foolishly and fulfill the saying attributed to Albert Einstein, “Insanity: doing the same thing over and over again and expecting different results.” So, here is the question. If we know what we’ve been doing is not working and we know that it is insanity to keep doing the same thing, why do we? Read the rest of this entry »

Share

Testing Your Business Idea

For years I’ve loved working with start-ups and early stage businesses. There are numerous reasons, including the uncertainty and the need to be able make quick changes as the business begins to unfold. You might wonder why I would like uncertainty. Well, I like it because it keeps challenging me to grow and learn. If you are starting a business or even trying to grow a relatively new one, you will find it more enjoyable and improve your likelihood of success if you learn to like or even love uncertainty and change and the challenges both present. Whether a start-up or simply a relatively new business, you will need ways for testing your business idea.

The Disadvantage That Once Existed

It was not that long ago that you had to invest a lot of time and money simply to see if Read the rest of this entry »

Share

Not All Cash Measurements Apply

The past few weeks we have looked at several financial performance ratios and financial terms. Among these were a number related to cash measurements. The links below will take you to some of those articles:

This is not intended as an all-encompassing list of ways to evaluate cash, but rather is a list of some of the key and most common ones.

Your Company

I encourage you to get familiar with the terms above and how the calculations are made for each of them. Once you have done that, consider the cash measurements that mean the most to your company. For example, if you have Read the rest of this entry »

Share

Justify Spending

Does your company have a way to justify spending? If so, have you realized that there may not be one all-encompassing way? If not, the why spend?

A Little Background

One of the first times I encountered this after college involved justifying expenditures for capital equipment. Actually I don’t even remember what method was used. It could have been return on investment (ROI), time to recover the cost through expense reduction, discounted cash flow or some other method. The point is, though, they did at least have some method in place to justify capital expenditures.

Years later a client would not even entertain the idea of justifying equipment purchases. The only method this particular client used was somebody said they needed it or Read the rest of this entry »

Share

Change or Become Irrelevant

What do all of the following have in common? Hudson, Henry J., Crossley, Packard, Studebaker, Oldsmobile, Plymouth. They are all automobile brands that are no longer produced. At one time some of these were significant players in the automobile industry. So what happened?

Relevance

When these companies were successful they were relevant to the auto world. At one time some were highly successful. Although they all ended their run at different times, they all have something in common. They lost their relevance in the sense that people stopped desiring these vehicles. But why did this occur?

Change

These companies failed to sufficiently Read the rest of this entry »

Share

Calculating Internet Sales Taxes

In an earlier blog (Internet Sales Taxes) we looked at where the U.S. stands on implementing sales taxes for internet sales in states where the seller lack nexus. The bill passed by the Senate (Marketplace Fairness Act) is intended to level the playing field for brick and mortar and internet businesses and address tax concerns expressed by states. That discussion touched on what the impact would really be and whether it actually did level the playing field. Again, this bill now Read the rest of this entry »

Share

Internet Sales Taxes

By a vote of 69-27 the U.S. Senate has passed a bill called the Marketplace Fairness Act which allows states to collect sales taxes from online sellers whose out of state sales are $1 million of more. Whether the House of Representatives also will pass it is yet to be determined. There are pros and cons about the bill.

Some Pros

It is indeed true that states have not been able to collect internet sales taxes on Read the rest of this entry »

Share

Be Different

Commonality

There is without a doubt great benefit to having standards by which we operate and behave in both our business and personal lives. Without this nobody knows what to expect out of us. This should be pretty consistent. But there is an unannounced danger as well.

Blindly Following

The picture below reminds me of the story called the Pied Piper of Hamelin. As you will recall in the story the pied piper is hired to use his magic pipe to lead the rats out of the town. When the people refuse to pay him, he uses the same magic pipe to lure their children out of town. While this is just a story, it does illustrate a danger to commonality.

blindly-following

Just like the children in the story, in business and personal life we often automatically, as they say, Read the rest of this entry »

Share

Cross Sales and Up Sales

Nearly every company is trying to figure out ways to increase sales and generate sales that deliver better margins. But are they turning over every stone to do so?

The Typical Approach

One of the first things most companies do is put pressure on sales people to generate more sales. Along with that they often become more lenient in sales terms, thus creating more accounts receivables and in the process likely increasing days to collect. Be careful when you decide to relax your credit terms. This can be a recipe for disaster and reduced cash flow. See 3 Reasons Past Due Receivables May be Worthless and 3 Low Cost Sources of Cash – Part 2 for more on this. But suppose it is not practical to grant more lenient sales terms? What are some other ways to generate increased sales? Read the rest of this entry »

Share

Enter your email address:

Delivered by FeedBurner