It’s a quite common dilemma to figure out if you need to hire externally or promote from within to see improvement with your business. There are benefits to both. We will now go over the pros and cons to each side. Hiring Externally Pros Cons Promoting from Within Pros Cons Overall, consider your employees and […]
Business Best Practices
Bookkeeping & Accounting Tips for Small Business Owners
Running a small business is a demanding task, requiring you to wear many hats, from managing operations to marketing and customer service. Among these responsibilities, bookkeeping and accounting are crucial for the financial health and sustainability of your business. While it may seem daunting, effective financial management doesn’t have to be overly complicated. Here are […]
Leadership vs. Management: Navigating the Distinct Paths to Organizational Success
In the realm of business, the terms “leadership” and “management” are often used interchangeably, but they represent distinct approaches that play crucial roles in the success of an organization. While both are essential, understanding the differences between leadership and management can unlock new perspectives on how to effectively guide teams, drive innovation, and achieve organizational […]
Five Steps to Keeping Employees Motivated
Motivated employees typically perform at a higher level than employees who are disengaged from their work. They are willing to go beyond their job description to see a project through to completion. Very often, their enthusiasm inspires and pushes coworkers to excel. Certain strategies can help foster a culture of motivation and enthusiasm within the […]
What Is Your Most Valuable Asset?
Your most valuable asset isn’t your real estate or the tech stocks you bought in the 90s that have done well. It isn’t even your business per se. Your most valuable asset is you — specifically your ability to run a profitable company and make money. Are you protecting that asset from the risk that […]
The Pluses and Minuses of Business Borrowing
There are distinct pluses and minuses that small business owners should consider when looking for a loan. New small business owners typically enter the marketplace with high expectations — they want to build sales and increase profits quarter to quarter. More often than not, they hope to add employees and, perhaps, open up additional locations. […]