One of the most difficult parts of running any business is when menial and petty tasks start to pile up and bog down critical operations, thereby reducing profitability. Most businesses will lean toward hiring someone to fill the position which handles the tasks, but this can also consume unnecessary resources when that employee is on the payroll permanently. This is where outsourcing comes into play to effectively mitigate the factors and streamline business operations. [...]

Accounts Receivable is the cash balance owed to any company for goods or services provided and used but have not yet been paid for by the customer. Efficient and effective money management is at the core of the Accounts Receivable (AR) process. How well you handle your company’s AR and AP directly affects your cash flow and bottom line. Accounts receivable management is crucial to maintain control over your payroll, debt payments, and fuel [...]

When it comes to invoicing, there are some common rules of etiquette that will hold true if a contract is not signed in advance to ensure that expectations of payment and acceptable methods will be followed. For example, it is most frequently observed that payment is to be made immediately after services have been provided. In other words, once services are rendered, an invoice is sent or provided to the client and either full [...]

For years there has been the ongoing debate as to what the best, most efficient, or cost-effective ways might be for printing and mailing to be handled in the world of business ownership. Those qualities in a particular method are not always mutually exclusive, so sometimes the cheapest way to do it is not always the best. One might think that the do-it-yourself method must be cheaper and therefore better when it comes to [...]

Outsourcing is a term first used to describe the business process of relying on outside resources for the making of goods or the providing of services that would usually be done internally. Some say the term dates back to the outsourcing of manufacturing services during the second world war. Others report its first use in the late 1970s when used in conjunction with entrepreneurship and the business procurement process. Though there is a little [...]

One of the main reasons that small businesses fail is undercapitalization. That means that in business, cash flow is like a lifeblood. You have to have it in order to survive. According to a US Bank study, 82% of business failures are caused by a lack of resources or mismanagement of them. Not only can a lack of capitalization limit business growth in key areas like inventory expansion, equipment resourcing, and employee development, it [...]

Money has been described by financial gurus as having some qualities that are like a natural resource such as the energy of the universe or chi of the human body. It has been called the lifeblood of any business. Money needs to flow. Holding on to it too tightly can shut down its potential. Like squeezing a tube, the amount of flow is decreased by an outside or inside source. Releasing the tube opens [...]