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Breakeven Analysis for Small Businesses, Part 1
This is an excerpt from a presentation I give to entrepreneurs about breakeven analysis and managing cash flow. —– What is breakeven analysis? Here’s how I define it: Break-even analysis is determining...
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Basics of Doing Business in Other States
If you own a business and you do business in other states, you may have filing obligations in that state. Here’s a basic overview. In general, if you’re selling a product and someone from outside of...
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Breakeven Analysis for Small Businesses, Part 2
In part 2, we’ll look at variations on the breakeven formula and analysis. For example, what if you sell multiple products? This quite likely with a typical small business. The first thing you need to...
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Breakeven Analysis for Small Businesses — Service Providers and Not-for-Profits
Whenever I talk about breakeven analysis, a common question is: how does this apply to service providers and not-for-profits? Service Providers A service provider doesn’t make widgets, but there are...
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Are HRAs Always Appropriate for Sole Proprietors? Part 3
After working through the math in Part 2, we determined that our fictional couple of John and Joan would owe the following amounts of tax with and without an HRA: Without: $31,846 With: $30,645 But...
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Choosing a Business Entity: Basic Terminology
This is an excerpt from a presentation I give to college students and to prospective entrepreneurs about types of business entities. A college professor (who’s also an attorney) told me that my...
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Things a Business Owner Needs to Know Before Hiring Employees
I often say that hiring employees may be the worst thing a small business can do. What I really mean is, hiring employees without knowing what you’re getting into is the worst thing a business can do....
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How Often Should a Budget Be Updated?
Image courtesy of user “stevepb” on Pixabay.com A common question that arises when I’m helping a business with creating a budget is: how often should the budget be updated? It’s a good question. You...
View ArticleGetting Your Business Off to a Good Start, Part 9: Wrapup Post
For nearly 4 months I’ve been posting excerpts from a presentation I give to entrepreneurs trying to get businesses off the ground. Because the posts are scattered across many weeks, this post serves...
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