LinkedIn has become an indispensable part of the job search. HR staff search the network for potential candidates for open positions. A well-managed profile is essential to be successful on LinkedIn. After all, you want to show yourself at your best on LinkedIn. It is important...
Even if prices are raised and there are more affordable alternatives on the market, we will often continue to buy products from the same brand. The reason for this is the same as explaining why we always choose to fly with the same airline or get our coffee from the same place:...
According to the US Small Business Association (SBA), a small business is a privately-owned and operated business with a small scale of trade and a small number of employees, depending on the industry. A small business can be an LLC, partnership, or sole proprietorship. There are...
A work-life balance involves a lot more than simply dividing working time and personal time equally. The concept is often viewed as a philosophy that determines many aspects of a person’s life. In order for it to succeed, both employers and employees must make an effort to create...
You’ve made it past the application process and the initial screening and you’ve been invited to an interview. It’s normal to be nervous, especially if you have limited experience in selling yourself. There are a few unwritten rules that apply for all interviews. As soon as you...
Customer care is one of the corner stones of a successful company – whether you are running an online store or offering bank accounts. Even smaller companies can benefit from the use of CRM tools, which help to organize customer- or buyer data. These software systems automate and...
Do your customers usually purchase once with you and then never return? Then your Customer Satisfaction Score is perhaps too low. Put simply: your customers are not satisfied with the services your company provides. This could be because of the product quality, the ordering process, or the support. Customer satisfaction surveys help to discover where exactly the problem lies. We will advise you...
What are Sinus-Milieus? If you are unsure about your target market research, this classification from the Sinus Institute can help you. The market research institute created a model of society with 10 groups, and provides a comprehensive profile for each group based on scientific research. We explain how the model works and provide an easy-to-understand Sinus-Milieu definition.
Creating a balance sheet can give business owners and entrepreneurs a headache. After all, proper bookkeeping with a balance sheet and a profit and loss account is far more complex than a simple income statement. But how do you know whether you are obliged to create a balance sheet? Here, you can find out why you might need to keep a balance sheet, and what they mean for you and your company.
By depreciating your low-value assets, you can get a better idea of your financial status, enabling you to work out when assets need replacing and their cost. There are two different depreciation methods: straight line depreciation and reducing balance depreciation – but you need to work out which of them works best for you and your business. Software can also facilitate the task and work out the...
Anyone who is required to prepare accounts needs to pay attention to the guidelines and principles that come with it, especially when it comes to balance sheets. We expect the data to be reliable, verifiable, and objective, as well as consistent and compatible. Knowing these objectives helps you to prepare accurate annual financial statement for your company. We explain what is meant by the...
Dropbox, Airbnb, Twitter – all these succesful companies have one thing in common: they became successful using the lean startup model. This method questions traditional business concepts and procedures, and instead promises greater flexibility and innovation. But what do lean startups mean for product development and company culture, and how can you benefit from these new ideas?
Buying a company is costly and risky. An earn-out clause in the contract reduces the risk for the buyer and creates a monetary incentive for the seller to support the new direction. This is because the earn-out promises a fluid, profit-oriented adjustment to the purchasing price in addition to the basic amount. However, this option has its pitfalls. If you want to use the earn-out model properly,...
For many businesses, inventory management is their lifeblood; regular stocktaking is essential in order to ensure that you’re working with the correct figures for your accounts. We explain the subtleties of inventory counts, which inventory types and inventory procedures there are, and how to carry out the complex process as quickly as possible without encountering any problems.
The profitability of many companies and freelancers depends primarily on the order situation. If you attract a customer’s attention with your products or services, and they send you a request, you should try to create a quote as quickly as possible and send it back to them. We explain what you need to include when writing a quote and the correct way to structure it.
Would you like to judge the price of a product or service appropriately, but you don’t know its corresponding overhead costs? In contrast to direct costs, overheads such as factory rental costs cannot be directly assigned to a product or service. Instead, you must calculate the overhead rate to determine the appropriate percentage of overhead costs and, subsequently, the total expenses which...
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