Difference between hire purchase and installment system

Hire purchase and installment systems are both methods of purchasing goods or assets on credit, but they have some key differences. Hire purchase and installment systems are both common ways…

Entrepreneurship: Definition, Types and Real-Life Examples

The idea of entrepreneurship is becoming increasingly popular among individuals, as an alternative to joining a traditional job. To gain a deeper understanding of the world of entrepreneurship, it is…

Cost of Borrowing

When obtaining a loan, an individual is borrowing a certain amount of money. The overall expense of the loan is the sum of the borrowed amount and the interest that…

A Quick Guide to Insurance and Supply Chain Disruption

Many businesses rely on materials and services produced overseas in today’s interconnected industries and distribution networks. This is so they can stay competitive and even have the edge over other…

7 Ways Companies Can Reduce Their Carbon Footprint

“Going green” is a lot more than a buzz-worthy phrase. Whereas most people associate the phrase with a commitment to preserving the planet, they sometimes forget that going green is…

Difference between interest earned, interest paid and interest accrual

Interest also plays an important role in determining the overall cost of borrowing. The higher the interest rate, the more expensive it is for borrowers to access the funds they…

Cash Flow Adequacy Ratio – Definition and Formula

Investors and analysts can use the cash flow adequacy ratio to gauge a company’s financial health and determine its capacity to generate cash and handle its financial obligations. It is…

Is Alibaba Safe and Legit? 8 Tips to Avoid Alibaba Scams

Image Source: Wikimedia In short, yes, Alibaba is a safe and legit platform. It is a leading e-commerce company that has been in business for over 20 years and has…

6 Ways to Improve Your Financial Literacy

Financial literacy is the ability to understand and manage personal finances. It involves understanding financial concepts and being able to make informed decisions about financial products, such as investments, insurance,…

5 Steps to Prepare for a Small Business Loan Application

You’ve hit a wall in your business growth. You need more working capital. A small business loan may be the most secure and cost-effective approach to receiving the capital your…

7 Inventory Reports Types That Benefit Your Business

Inventory management is a fundamental factor in a business’s success. You can forecast future demand using your inventory and sales patterns, allowing you to plan your budget and, if required,…

Investment Tips For New Entrepreneurs

You may have already identified the profitable business you’d like to invest in and drafted a business contract. However, do you have what it takes to make the most out…

Personal Finance Tips for Young Adults

Although personal finance is a very important subject for life, you don’t get to see it in most of the syllabus, around the colleges, or even in universities. Since there…

5 Signs You Should Move Your Home-Based Business to an Office

Hosting your business at home instead of in an office offers a number of benefits for entrepreneurs. Not only can you avoid the costs associated with leasing and maintaining a commercial space, but…

6 Jobs That Prepare You for Entrepreneurship

Your day begins with a loud noise, maybe an alarm from your cellphone or from some obnoxiously loud source outside your window. You groggily rub your eyes, slowly awakening with…

How Relationship Marketing Can Increase Customer Loyalty

Traditional marketing focuses on acquiring new customers through individual sales. In contrast, relationship marketing is the employment of strategies that develop strong relationships with existing customers, which ultimately contributes to long-term business success…

5 Tips for Growing Your Home-Based Business

Operating a home-based business allows entrepreneurs to be their own bosses while developing products and services that matter to them. While the idea of escaping the stress and competition of the traditional office setting…

Should You Franchise Your Business?

Approximately 792,000 franchise businesses are predicted to exist in the US in 2022, producing an estimated 827 billion USD in economic production and employing close to 8.5 million people. As…

Freemium Business Model: Definition, Types, Pros and Cons

As more entrepreneurs look to launch business ventures in increasingly crowded and competitive industries, many owners realize that using innovative business models can mean the difference between success and failure. The freemium model, which…

How to Monetize Your Knowledge, Skills and Expertise

Starting your own business, especially one that relies on your knowledge or experience instead of selling a physical product, can be highly rewarding, but it’s also pretty tough. You want to…

Hiring on a limited budget? 9 ways to attract top talent

Getting to the point where you can hire new employees is exciting. It means you’re succeeding—or at the very least growing—and that you need to increase your manpower to continue that success. You want to…

The 6 Biggest Challenges When Starting a Home-Based Business

Starting a home-based business is an alluring prospect for many entrepreneurs. You have the option to work for yourself, make your own schedule and do the kind of work you’re interested…

8 Essential Skills for Every Entrepreneur

Most entrepreneurs already have an excessive amount of enthusiasm for their businesses. This enthusiasm lends itself to developing a fair understanding of how the worlds of sales, marketing, mergers and meetings work. However, any…

7 Reasons to Quit Your Job and Work for Yourself

You most likely understand the implications of starting your own business. A large amount of risk is definitely involved, including the potential for severe financial setbacks, but above all, you need…

Mind Mapping for Business

Do you learn better using visual tools, auditory tools, both or none of the above? The methods people employ to most effectively learn, teach and retain information have spawned countless…

Scenario Mapping for Business

Scenarios, in simple terms, are possible and plausible pictures of the future. Within the corporate world, scenario mapping (also known as scenario planning, reality mapping or design mapping) is a method used…

7 Habits of Incredibly Successful Salesperson

As an occupation, sales is not for everyone. Becoming great at it requires a willingness to put yourself out there, learn the ropes and be consistent and persistent. But if you can master these…

What is a Sales Cycle: Definition, stages, and steps

Every business has one goal in mind: to sell things. Whether you’re selling big things like cars, small things like jewelry or intangible things like your expertise, you must work…

What Is User Generated Content And Why It Is Important?

Of the many gifts given by social media, none may be so fruitful as the ease of use for people to create and share their own work, especially if it features…

7 Things to Know Before Entering a Small Business Partnership

Successfully running a business partnership can be complicated, as there are lots of things to consider when operating a business with another person. There are many critical decisions to make,…

The 9 Best Sources of Capital for Your New Business

No matter how terrific your idea or service is, your business won’t get off the ground without adequate funding. Business startup costs can vary, but it’s fairly safe to say…

The Top 5 Reasons People Fail at Business Development

As nearly every ambitious company knows, its growth potential lies in its business development efforts. Although business development seems like an easy concept to grasp on the surface, there are subtle nuances and finer…

Black Hat vs. White Hat SEO – Meaning and Difference

In this article we are going to discuss the meaning and differences between Black Hat and White Hat SEO practices. If you want to grow the customer base of any…

6 Important Questions to Ask Yourself Before Quitting Your Job

While it was once commonplace to remain at a single company for an entire career, the market has changed, and these days most of the workforce changes jobs with some…

What Are Accounts Receivable and How Do You Use Them?

What Are Accounts Receivable? A healthy balance sheet in your business will always include an “accounts receivable” section under “current assets.” Accounts receivable is the money that customers or clients owe for…

How to Calculate Your Operating Expenses

To protect the health of your business, you must closely monitor your operating expenses in order to ensure that you are running efficiently enough to be profitable. Your operating expenses are pretty…

How to Calculate Startup Costs

When you’re starting a business, it is essential to have a handle on how much seed money you will need to get it off the ground. Typically, businesses need investments early on in order to…

The Differences Between Personal and Executive Assistants

While people often use the terms interchangeably, the roles of “executive assistant” and “personal assistant” vary greatly. If you are looking to hire an assistant, the preceding qualifier you use in…

The 8 Basic Principles of Accounting

The practice of accounting is probably one of the oldest in relation to business. For as long as people have traded goods and services for money, they have needed accounting standards to…

9 Etiquette Tips for Business Development

The success of your business is heavily contingent on the types of business development activities you spend your time on. Whether it’s prospecting through social media or following up on warm leads,…

How to Take a Vacation When You Run a Small Business

Taking a vacation as a small business owner and leaving the company in the hands of its workers can be difficult and a bit intimidating. Because of this, many owners…

Understanding the Different Types of Inventory

Maintaining an appropriate amount of inventory is directly related to a business’s profit margin. Your supply of goods needs to adequately meet the demands of your customers. If you produce too little, you will…

Why Do You Need to Update Your iPhone ASAP?

Apple’s range of smartphones, namely the iPhone lineup, has been a rage among the masses globally ever since the first model came out in 2007. Every year, the global tech…

How to Deduct Travel So You Don’t Get Audited

Business travel can take many forms. Whether it’s to meet with prospects and clients, to attend industry conferences for networking or to enroll in a business seminar, travel can sometimes…

Do You Need to Adjust Your Pricing?

Billionaire and renowned investor Warren Buffett once said, “If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business.” Most entrepreneurs…

How to Create the Financial Section of Your Business Plan?

When it comes to asking the bank or an investor for money to sink into your small business, few things are as important as the financial section of your business plan. It demonstrates how financially…

7 Simple Steps to Improve Your Business Model

In its simplest terms, a business model is a plan for how your business will make money. It outlines how you plan to cover your expenses and how your business will become…

8 Reasons Why You Need a Business Plan

You might pride yourself on being a risk-taker, the kind of person who doesn’t feel the need to plan. And while agility and adaptability are critical skills in today’s business…

How to Be Desirable to Top Candidates

Finding top and qualified candidates for open positions is only half the battle. The other half is offering the types of compensation and benefits that will entice these candidates to join your…

What is a Managing Partner? Definition, Duties, Examples

A managing partner is a salaried position given to a senior partner or shareholder, most typically in a law, consulting, financial or accounting firms. His or her duties are similar to a chief…

Why Marketers Care About Intellectual Property

Paying special attention to intellectual property (IP) rights can prove to be an effective strategy for marketing your company’s product or service. When taking a product or service to market, an understanding of IP can help…

Guide to Tax Deductions for Freelancers and the Self-Employed

Whether you’re new to freelancing or someone who’s been self-employed for decades, you probably know that tax season can bring with it a great deal of financial uncertainty. Unlike traditional workers, contractors don’t have…

How to Raise Prices Without Angering Customers

Most business owners would agree that pricing is one of the most important elements in the marketing mix. Because it costs money to produce, promote and distribute products, pricing must be able to…

How to Calculate Your Overhead

There are a lot of reasons to start a business, but fundamentally speaking, there’s only one way to stay in business: To make a profit.  In order to make a profit, you have to…

How to Write an Executive Summary

An important part of starting or expanding a business is drafting a solid business plan. Each aspect of this plan is crucial in not only charting the projected path of the business but how it…

Quantitative vs. Qualitative Market Research

Market research is a critical part of launching and running any business. Proper research can tell you who your customers are and what those customers want. It involves answering questions like “Who will…

Do You Need a Business Partner?

Starting your own business is an exciting and daunting task, especially if you’re considering tackling the new venture on your own. But as you get closer and closer to truly putting your…

Solvency Ratio vs. Liquidity Ratios – Definition – Importance – Difference

There are seemingly innumerable ways to judge the health of your business, and calculating profit margins and ROI are among the favorite methods. But there are other metrics you can…

10 Illegal Job Interview Questions to Avoid

Because each party has so much invested in the end result, a job interview can feel like a minefield for both the interviewer and the interviewee. It’s easy to lose…

When to Outsource Your Coding vs. Hire an In-House Developer

Stories abound from entrepreneurs who praise the benefits of outsourcing their web-development projects. Other owners retell the horrors of working with unreliable and unqualified contractors, with little to show as a result. …

6 Ways to Make Your Business Card Stand Out

In a world of online connections and instant access to information, you may be tempted to neglect the idea of a tangible business card. But that would be a big mistake.…

The Pros and Cons of Starting a Business With Your Spouse

Have you ever considered going into business with your husband or wife? Perhaps you and your spouse have long dreamed of opening a business together, or maybe you just started discussing the…

6 Ways to Make Your Booth Stand Out at a Conference

Exhibiting at a regional or national conference is a great way to increase the visibility of your organization among a very targeted audience. However, walk any exhibition floor at a large conference, and…

How to Promote Your Press Release

Press releases are a well-recognized way for businesses to spread the word about their company, employees or products. They have long been preferred by many organizations due to the fact that…

How to Register a DBA “Doing Business As” name?

If you haven’t yet considered registering for a “Doing Business As” name (“DBA” for short and sometimes called a “fictitious business name”), now might be the time to do so. A DBA…

What is Profit Sharing, and is it Right for My Business?

Companies are always looking for ways to motivate employees to think bigger, act faster, be stronger and stick around longer. While there are a variety of ways to do this, one…

How to Find the Right Healthcare Options for Your Small Business

Offering healthcare enables small businesses to stay competitive in the job market while complying with the requirements of the Affordable Care Act. However, with so many healthcare options available, choosing the best…

Understanding Limited Liability (and Where It Applies)

When starting your business, the choice of whether or not to create a legal business entity can be bewildering. Do you operate as a sole proprietor? Maybe take on a partner? Or do you go…

Determining the Value of Your Product

While you may think your products or services are the best on the market, that opinion is only your perception of them. Unfortunately, it’s your customers’ perception of your offerings that determines their prices…

How to Develop an Effective Pricing Strategy to Maximize Profit?

One of the most challenging responsibilities for small business owners might be setting the appropriate price for goods or services. If prices are too low, you kill your chances of…

Guide to International Shipping for Small Business

Shipping can be a challenge for small business owners without access to larger competitors’ resources. This is evident at the local level, and it’s exasperating when companies try to expand…

How to Rebrand Your Business – 11 Steps

You’ve done some soul-searching. You’ve dug deep and analyzed every facet of your business, and you’ve come to the hard realization that something about your brand doesn’t work. It may be hard…

Should You Allow Pets in the Office? 5 Things to Consider

In some offices, the workplace is looking less like the stereotypical unwelcoming space of the past and more like a place that resembles a home or popular social spot. From…

5 Practical Tips to Help You Find a Mentor

Entrepreneurship can be an exciting and fulfilling path, but it also comes with plenty of hurdles and challenges along the way. Fortunately, you do not have to handle every difficulty…

Why Steve Jobs’ Stanford Commencement Speech Is Still Relevant

Fearless entrepreneur. Genius marketer. Visionary inventor. These are some of the words that have been used to describe Steve Jobs, co-founder of Apple Inc. Nearly four years after his death,…

7 Ways to Build a Strong Professional Network

Without contacts, there’s no one to call. Without anyone to call, there’s limited room for growth. Therefore, networking is your means to building your own personal phone book and unlocking…

How Can Six Sigma Principles Improve Productivity?

In 1986, Motorola developed a set of techniques and tools to minimize variability in manufacturing and improve business processes. Known as Six Sigma, this business methodology seeks to improve not only…

5 Signs Your Small Business Needs to Hire

The decision to hire new staff is often a challenging one to make. Most owners faced with this type of expansion are hesitant to act, citing the costs of both…

Business Games for Kids Every Parent Must Explore

One of the most significant benefits you can provide your child is to raise them with a business mindset. Whether they choose to be involved in business or not, exposing…

6 Tips for Business Growth and Customer Satisfaction

Arguably, the ultimate goal of a business should be to please its customer. A happy customer equals more business, and more business equals profit, growth and longevity. But having happy…

5 Things You Need to Know About Independent Contractors

Independent contractors (ICs), many of whom consider themselves freelancers or consultants, are booming across many industries. ICs can be beneficial additions if your business is picking up steam, especially if…

Recommendation Letters: Types, Importance and How to Get One

Remember the time when you were applying for college or grad school and recommendation letters were required? Well, references can be just as useful when seeking a job and are…

The 7 Elements of a Business Plan

“If you fail to plan, you are planning to fail” -Benjamin Franklin Creating a thorough business plan for a new or evolving venture is essential. A convincing blueprint is a…

How to Write an Effective Business Plan

Why do you need to write a business plan? Well, for starters, an effective business plan can help you acquire funding from investors and banks because it demonstrates that you have done some research and thought about marketing,…

6 Ways to Avoid Common Accounting Mistakes

Everyone knows how important it is for a business to maintain best practices for company finances. While faults in customer service or marketing can hinder your business, accounting mistakes can stunt your growth and leave your company…

How to Start a Successful Bakery

Do your family and friends incessantly ask you to bring those delicious cupcakes to get-togethers? Are your brownies the talk of the town (in a good way)? Do you make…

How to Start a Construction Company

So goes the popular saying, “It all starts from the ground up.” This is especially true when starting a construction company. While you may think it’s necessary to be a…

Vibrant Marketing: Choosing the Best Brand Colors

There are many elements to figure out when building your brand. But when it comes to creating visual assets used to promote your brand, color should be a big consideration.  Colors…

How to Start a Brewery? Brewery Business Checklist

Brewing beer often begins with a home-brewing kit and slowly ferments into a passionate hobby. Being able to convert this hobby into a career is an intoxicating prospect for many,…

How to Beat Your Lower-Priced Competitors

When rival companies step on your toes by offering the same product for a lower price, the easiest solution is to match their number or go even lower. But that’s…

6 Easy Ways to Increase Customer Retention

Keeping your customers happy—and therefore loyal—is key to any long-term business success. It takes much less time, effort and resources for you to encourage repeat business than to try and cultivate…

Why It’s Important to Hire Slow and Fire Fast

Whether you’re a business owner or executive looking to hire your first employee or your 50th, you’ve probably heard the popular catchphrase, “Hire Slow, Fire Fast.” This mantra, which has…

Someone Shared Their Trust Wallet Key in a Message [Scam Alert]

Have you received a direct message on your social media platform like Facebook, Twitter, Instagram, or Telegram where the sender reveals their trust wallet key and asks for assistance in…

What is a Key Performance Indicator (KPI)?

A key performance indicator (KPI) is a metric that shows how well you accomplish an important business goal. KPIs help you assess how well you’re doing at achieving specific goals.…

4 Different Types of Market Research to Fuel Marketing Strategies

Every effective marketing plan is built on solid market research. It’s the only way to have a deep understanding of your market, clients, and rivals. Every market research operation, in…

The Four Types of Market Segmentation

We already discussed what market segmentation is and how it may help you understand your clients, pinpoint needs in your market segment, and work out how to effectively satisfy those…

Market Segmentation – Definition, Importance and Strategy

The first step of any marketing campaign is to identify the target customers. However, a group of target customers does not effectively communicate the relevant information useful for the marketers.…

Why Location Matters So Much in Real Estate

Real estate is an important asset for any business to have. It is the most important investment that a business can make. The location of a property matters a lot…

Benefit Segmentation – Definition, Advantages and Examples

For every campaign, marketers are constantly attempting to provide an answer to one fundamental question: what do our customers want? Naturally, not every buyer has the same preferences. Because of…

16-Point Business Idea Checklist for Startups and Entrepreneurs

A business idea checklist for evaluation and decision-making might be helpful for someone who wants to validate a business idea and has to convince partners or authorities of its viability.…