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Avoiding March Madness

By Anna Masker In standard14th March, 2011

March is the time when most businesses start collecting and turning over their documents to their accountants to prepare their taxes. For some businesses, it is pulling out a shoebox of receipts, for others it may be a scramble to bring their books up to date. In either case there is a certain level of financial “madness” that happens in March. There is a simple way to avoid the rush and improve your business at the same time.

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Looking beyond your Giant Clients

By Anna Masker In standard8th March, 2011

If you’re like most companies, at some point you’ve had a large customer that’s made up a majority of your income. We refer to them as giant clients. It’s hard to look past the steady stream of orders, and the big fat checks. In the back of your head you know you’ve got all your eggs in one basket but it’s hard to think about that when you are so consumed in the day-to-day of delivery and service. It’s a good idea to start diversifying your portfolio of customers—adding more and possibly in different industries. You’ll need to get creative and here’s how…

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Let’s talk about money—YOUR money

By Anna Masker In standard28th February, 2011

OK, I’ll be frank. Sometimes business owners can be the greatest downfall of their own companies. You’ve probably heard the hundred ways this is possible from management and HR issues to lack of “business” skills. I’m in the business of finance, so I’ll talk about only one—handling money. There are two scenarios where a business

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Downfalls of cost-plus pricing

By Anna Masker In standard16th February, 2011

Many companies that offer unique or custom products figure out what to charge by adding up their costs and tacking a markup on top of that. That’s called cost-plus pricing. However without being careful, you may find that cost-plus pricing can actually benefit your customers more than you.

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Why Mix Matters

By Anna Masker In standard9th February, 2011

Have you ever wondered why you may be selling more and more but aren’t making any more money? You may have a problem with your mix. Just as too much of one ingredient can ruin a recipe, mix can make the difference between profitability and losses, a cash crunch and money in your pocket. It

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Shaking the shoebox

By Anna Masker In standard26th January, 2011 Shaking the shoebox

Saving money in your small business may seem hard to do. Office Supplies is one “back-office” expense that you can reduce. See how a multi-billion dollar company– and a shoebox– saved money, one pen and pencil at a time.

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Budgeting is sooo 2010

By Anna Masker In standard19th January, 2011 Budgeting is sooo 2010

If you’re like me, you’ve gotten dozens of emails about why you should set up a budget for 2011. The word “budget” often spurs a collective groan. It sounds so restrictive. Not to mention the effort that needs to go in to putting one together and the tediousness of all that number crunching. No thanks.

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“Keel it up!”

By Anna Masker In standard18th January, 2011 “Keel it up!”

I used to row on the crew team in college. For those of you who know me, at 5’2″ I’m not exactly the typical long and lanky rower-type. Despite my lack of height we did pretty well for a bunch of novices—and even won some regional races. But that’s beside the point. The boats we

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How well have you figured out the 4Ms of business?

By Anna Masker In standard9th January, 2011

For any business to be successful, they need to have a good plan looking at the 4Ms of business: Money. Do you have enough money so that your business is paying its own bills? Or does the owner or investors need to sink their funds into the business to keep it afloat? If you are

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Your most important information may not be in QuickBooks

By Anna Masker In standard10th November, 2010

If you are puzzled by your profitability, looking at your P&L will give you only part of your answer. If you are trying to figure out why you are not making any more money even though your sales are increasing, or if your bottom line hasn’t moved from the last few years, here are some

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