If you would also like to go for it and launch a startup yourself, you’ll need good ideas and a ton of organization. We’ve got some inspiration for both! How do you systematically approach the search for the next “big thing”? How have others written their success stories? And...
A BIA or business impact analysis emphasizes the most important processes of your company that could threaten your normal business operations in case of a deficit or outage. These processes allow you to evaluate the consequences of a crisis more effectively and devise strategies...
“Agile working” is currently one of the biggest trends in the corporate world. It’s seen as the best way to master the challenges of digitalization. How does the agile approach work? What opportunities and risks does it involve? And what role will this hot topic play in the...
Even when we don’t say anything, we communicate: Our body language is more or less consciously sending out signals to those around us. Gestures, expressions, and posture often share more than we’d like, including how we feel in a given situation. If you’re able to understand body...
Supply and demand determine pricing in a free market. Demand has an influence on supply and vice versa. With no demand, any supply is redundant, and with no supply, demand is ineffective. When they are in equilibrium, prices remain stable and goods are affordable. But how exactly...
Are you planning on setting up a side business and want to know how to go about it? Starting your own side business while working full time is a great way to minimize your financial risk. Test the waters, but first make sure you are legally registered and that you are even...
Before a business idea can be implemented, it is necessary to create a business plan. This serves as the founder’s roadmap, and summarizes all necessary information about planning and finances. However, the business plan is also highly relevant for investors as well as potential...
Invoices are usually associated with trading. However, private individuals are also permitted to create invoices if they sell a personal belonging, for example. What do you need to keep in mind when creating an invoice as an individual? Are there any specific guidelines to follow? What belongs on a private invoice?
At the break-even point (BeP), a company makes enough revenue to switch from the loss zone to the profit zone. If the BeP is exceeded, a company yields a profit. But what data do you need in order to calculate the break-even point? What formula is used to calculate it? We’ll answer these questions and provide you with further info about the BeP.
As an entrepreneur, you should have basic knowledge of double-entry bookkeeping with debits and credits in order to record your business transactions in a comprehensible manner. If you deliver products or services to your customers, then these are business transactions that you record. These records always follow the “debit to credit” system. But what exactly is behind this process?
Whether you’re in the supermarket, at the restaurant, or in the garage – invoices are issued everywhere. However, young entrepreneurs – either freelance or self-employed – who want to claim money from their customers for the first time and write outgoing invoices are often unsure. What is the difference between an incoming and an outgoing invoice? What information should be included in the...
Getting to grips with the challenges of accounting is now much easier than it was a few years ago thanks to new programs. Many developers offer tailor-made software that automate invoice management. There are many good Mac invoicing software for iOS, and there are several options to suit different needs.
If you run a business, you need to keep books well – this is tedious, time-consuming and requires a great deal of know-how. For these reasons, many businesses, both big and small, choose to get help from an accountant or tax advisor. Before you take this step, however, you should consider how much an accountant costs, as well as which aspects you might want help with to better predict how much an...
Whether you’re employed or self-employed, federal law requires US citizens to pay a Social Security tax and Medicare each year. But how much you pay depends on your income. The Social Security income cap ensures that only income up to a certain limit is being taxed.
An unsolicited application has to be done well, because it doesn’t relate to a specific job opening. That’s why it’s important that your application is impeccable and tailored to the company you’re writing to. This will increase your chances of getting an interview, where you can convince your potential employer of your application and how well you’re suited to the company.
Your income has increased and yet you still have less income after taxes? What happens to your income? This is due to so-called “cold progression.” Every year, the state earns several billion dollars this way. How can this happen? We explain cold progression using an example and go through the calculation step by step.
The laws governing employee time tracking are not always clearly defined. Things like overtime and meal breaks are managed differently state by state. However, every employer covered by the Fair Labor Standards Act is obliged to keep records for their employees, including the hours worked each day and the total hours worked per week. What kind of data must be collected and what role does data...
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