Your business’s net income is the metric that will tell you how much you earned in a particular period (year, month, or quarter). An income statement of your financial statement will provide you with an insight into your operating income and net income. While the operating profit is your income generated out of the primary operations of your business, the net income is a measurement that will indicate how much money you have after deducting all expenses from your income. → Download Now: Financial Statements Template Many accountants confuse net income with the operating and cash income, but t ..read more

Especially for single parents, daycares have become somewhat of a mandate. It is statistically proven that a general childcare crisis limits the entrepreneurial potential of women. Many women traditionally in the role of caregivers, and even men stepping into the role are looking to find a safe and reliable daycare for their kids while they are off to work. → Download Now: Business Startup Checklist The potential of a daycare business, thus, is huge in the current times. But, it's not as simple as setting up a building for lodgings. When caring about children, there are many responsibilities ..read more

Your business plan is an elaborate set of instructions stating how to run your business to achieve objectives and goals. Each section describes a part of the process to reach your desired goal. Similarly, the operations plan section of your business plan explains the production and supply of your product. An operations plan is formed to turn plans into actions. It uses the information you gathered from the analysis of the market, customers, and competitors mentioned in the previous parts of your business plan and allows for the execution of relevant strategies to achieve desired results. → Do ..read more

A business is as efficient as its team and its management. It, therefore, becomes important for business owners to build a structured management team that achieves the objectives and goals set by the organization. Andrew Carnegie, an American steel magnate, beautifully summarized it - Teamwork is the ability to work together toward a common vision. The ability to direct individual accomplishments toward organizational objectives. It is the fuel that allows common people to attain uncommon results." → Download Now: Business Plan Checklist A business management plan helps build an efficient tea ..read more

According to the U.S Bureau of Labor Statistics, approximately 20% of small businesses fail in their first year, and only 25% of new companies make it to 15 years or more. Of the 100 businesses that set up shop today, only 25 would survive after 15 years. That's a whopping 75% failure rate for small businesses in the United States. As a small business owner, you should understand the reasons why small businesses fail. Learning from other business owners' mistakes will help you save time, energy, and resources. → Download Now: Guide on Starting a Business This guide will help you understand th ..read more

You are the proud founder of a successful small business. But you don't intend to stay and foresee your business as "small" in the long run, right? So what are some of the most successful strategies and ways that your business can follow, so you can upscale and grow your business. According to Entrepreneur, business growth strategist Roland Frasier, who builds and scales seven, eight, and nine-figure businesses, says there are only a few hand-picked fundamental methods that will significantly impact your bottom line and are essential to growing your business. Signs That It's Time To Grow You ..read more

Starting a small business demands changing many hats and donning roles you'd never thought even existed! While registering your business initially seems daunting, understanding and gathering documents for the different business licenses and permits can feel further intimidating. If the thought of navigating through business licenses and permits overwhelms you, thankfully, you need not worry much. As long as you are organized and well-researched, you should get your licenses and permits timely! → Download Now: Business Startup Checklist Most new small business owners often wonder if they at al ..read more

If you ever ask your friend about his life, he would probably start ranting for hours. It’s not because something wrong has happened with him but every one of us goes through the same situation at every point in our life. Think of 5 years ago, didn’t you have any problems? I know they might seem ridiculous now but once they had stolen your sleep and turned your taste buds to neutral. → Download Now: Business Startup Checklist The point here is every one of us has problems at every point in time and we are constantly looking for someone who can guide us through it. If you have dealt with probl ..read more

Choosing a business location is one of the key decisions you'll have to make as an entrepreneur. Doing so shouldn't be based on a personal whim but rather on a detailed understanding of your needs and limits. To do this, you need to understand how you can choose the right location. → Download Now: Business Startup Checklist In this article, we’ll see how to pick the right location for your business, and the factors that influence your decision. Why is it important to choose the right business location? You'll need to make a strategic decision regarding the state, city, and neighborhood where ..read more

Mistakes are the best teachers. Well, not really. Although you can learn a lot by making mistakes, not everyone gets enough chances to learn everything by making mistakes. So, what would you do in such a case? Read of course! When you're starting a small business or startup, it's always a good choice to read up as much as you can. → Download Now: Guide on Starting a Business But what to read, and what not to read? You don't need to waste your precious time worrying about that! We've compiled a list of the 12 best books for small business owners. Go ahead and find out your next reading obsess ..read more