When planning the finer details of your web store, rushing through your financial plan can lead to chaos. It’s important to be aware of how much money you need to spend, and only an extensive finance plan can provide the necessary security for the development of your web store....
Neuro-linguistic programming, NLP for short, is a collection of tools and models designed to facilitate and strengthen communication in various areas of life and work. The goal is to better understand oneself and others, and to make positive changes. We will tell you exactly what...
The profit and loss account (P&L) is also called an income statement. All general ledger accounts are summed up with expenses subtracted from the income to leave a profit or loss amount for the period, which is usually one financial year. Daily operating expenses are summarized...
Have you heard of SMART goals, but you’ve never used an organized and effective method for setting objectives? We’ll explain the advantages of SMART goals, how to use the technique for your personal and business goals and what to watch out for with this method. Because, like all...
A sole proprietorship is one of the easiest types of businesses to set up. All you need to get started is a business idea and a bit of courage. The one-person business does not require registration with the state, but there are plenty of other requirements you will need to...
Whether you’re self-employed or employed – a growing number of professionals are working from home and many even set up a dedicated space to perform their job duties. To reduce any resulting financial burden, the costs for working from home can be deducted from your taxes....
Double-entry accounting or double-entry bookkeeping is an essential part of the accounting system. Lots of entrepreneurs have a hard time with bookkeeping, when in fact it should be an aid to you and provide a detailed overview of your finances. Double-entry accounting isn’t an...
For social entrepreneurs and individuals looking to start-up their own social or charitable companies, choosing the right legal form for their business matters greatly. Registering as a non-profit corporation offers plenty of advantages including tax exemption, limited liabilities, access to grants and the prestige of a formal structure. But what exactly is a non-profit?
Environmental protection by companies is becoming more and more important. In order to implement ecological sustainability in your operations, an environmental management system is helpful. So that it also functions, you should take a look at ISO 14001. The international standard provides you with guidelines for installing an adequate system. The ISO 14001 certification gives you the opportunity...
What are royalties? You may have heard of the term ‘royalties’ in association with musicians, writers or artists. But did you know that board members, directors and even employees can use royalties to improve their salary? We’re going to help you understand what royalties are, and how they work in the corporate world.
Being fired is not the only way in which a current employee may be dismissed. An employment termination agreement is a way of ending a working relationship with someone without having to fire them which can make it difficult for them to find a job afterwards. What is important and what should be considered?
When it comes to accounting, order is the be-all and end-all. This requires not just adhering to the Generally Accepted Accounting Principles (US GAAP), but also making sure your work is facilitated with a reasonable accounting standard structure. Creating a predetermined framework, you will always know which accounts you can use for billing. Additionally, third parties can also go through your...
If you’re looking to dissolve your company, you must tell state authorities. Even though the process can be stressful and involves multiple steps, it is fairly straightforward once you understand the individual stages. There are a couple of things you need to know. Which paperwork needs to be filed and what else do you need to know to terminate your business? We’ll explain.
Six Sigma is one of the most commonly used process optimization and quality management methods in companies. This method sets itself apart through its foundation in math and its clear focus on being able to measure change. In the following article, we show you how the Six Sigma method works, what benefits you can gain from it, and how to put it into practice.
Quality checks are some of the most important objectives for every management team. However, measures that are introduced for this purpose do not always contribute to achieving this objective. Anyone who adheres to ISO 9001, however, will optimize their quality management system according to international standards. You can make a good impression on the international stage with ISO 9001...
Constant increases in quality: That works best with ongoing, small improvements. CIP – the continuous improvement process – provides the right framework for this. Every employee should see it as their task to recommend improvements for their area of work. And that can be quite simple: Even reorganizing the workplace can have a great impact.
A financial analysis provides entrepreneurs with information on the current economic situation of their business. But the report is full of figures – you can lose track of things quite quickly. So what is a financial analysis? And how do you get to grips with it? What is the report actually good for? And can you also create one yourself?
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