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…
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…
“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…
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.…
How can you make the most of tax deductions as a self-employed individual? This article outlines essential tax tips for freelancers and business owners in the U.S. Learn about the deductions you can claim, which taxes you need to pay, and how to reduce your tax liability with…
Invoices are primarily known from business transactions. However, private individuals can also issue invoices—for example, when selling a used item or providing a one-time service. It is important to follow certain guidelines to ensure that the private invoice is correct and…
Getting Things Done (GTD) is a productivity and time management system that was developed in 2001 by David Allen and now has a large community of followers. What’s so special about the GTD method? You can apply it to all areas of life to prevent important to-dos from falling…
Your to-do list is not getting any shorter, and you feel like time is slipping through your fingers? If you want to work more productively and efficiently, you should use time management strategies. With proven strategies, tasks can be prioritized, planned, and completed…
Many U.S. companies must comply with records management or face hefty penalties. The Sarbanes-Oxley Act was passed in 2002 to crack down on corporate fraud and to regulate accounting in companies. Our dedicated article has all the information you need to know about the…
Google Workspace or Microsoft 365? Both providers offer businesses a cloud platform equipped with office and collaboration tools. With similar pricing, companies looking to centralize their work processes using cloud-based apps face a tough choice. In this article, we’ll take a…
In the USA, the tax return deadline is usually April 15. Many freelancers (self-employed individuals or independent contractors) often have questions about earnings, deductions, and required forms. Staying organized and maintaining good records throughout the year can…
Many businesses—whether large or small—depend on orderliness in their warehouses. To prevent organizational errors that could lead to significant business issues, companies should use inventory management software. These programs help businesses keep track of their inventory.…
Withdrawing from company assets for personal use is common for business owners, as they need income. This process, known as an owner’s draw, can be complex in terms of accounting and tax law. What should you consider when withdrawing money, what types of withdrawals exist, and is…
Accounting is a complex task and especially entrepreneurs who are just starting their projects can use all the help they can get. With the right bookkeeping software, founders, freelancers, and SMEs have tools at their disposal that make the work easier and less error-prone. What…