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Startup Tips

Hoarders-the Business Edition: How to Eliminate Excess Inventory

Overstocking inventory just because you 'think' it's going to sell is a gamble that can easily lead to losses.

If you think your closet at home is disorganized, you don’t want to see what’s lying around H&M’s closet. The Swedish fashion giant is sitting on $4.3 billion in unsold inventory.The company says its massive stockpile is due to new store openings and ...

by Per Byland  | July 04, 2018 08:00:00
Run & Grow

25 things to do now for better business in 2017

Whether 2016 was rough or a banner year, there’s lots you can do now to make next year better

As 2016 winds down, it’s time to start planning for 2017. For business owners, this means getting financially prepared for the new year by following 25 ways in order to keep your business up-and-running for the long haul. 1. Revisit your business plan.If ...

by John Rampton  | November 25, 2016 09:00:00
Business Ideas

Managing your inventory

Excessive inventory hurts performance because it requires additional capital, and there is a cost associated with this capital. If you can reduce your debt by trimming your inventory, your interest cost will fall, and this will increase your net income, trim your ...

by Bay A. Cabrera  | February 19, 2013 10:00:00
Business Ideas

The solution to leaking profits

SAP developed a system that helped South Star Drug put a stop to pilferage and enabled its owners to make swift financial decisions.

Drugstore chain South Star Drug automated part of its operations as early as 1986, at a time when small businesses were leery of information technology solutions because they were thought to be costly and complicated to set up.[related|post]“We saw that the most ...

by Lenny Tirazona  | March 01, 2012 07:00:00
Startup Tips

5 simple steps for efficient purchasing

If you plan to expand your business this year, start implementing some controls in your purchasing cycle.

Q: I am a small, start-up business owner—I recently started a neighborhood convenience store, which I plan to expand by the end of the year. I do my own bookkeeping. Can you give me some tips to make this task less of ...

January 26, 2012 02:00:00
Startup Tips

Learning to do inventory

The stock inventory is as crucial as any other aspect of the business

The way you handle your inventory can mean the difference between success and failure, since its one of the crucial aspects of managing a business. To get you started, its best to sit down with a trusted accountant for advice in addition ...

by Henry Ong  | October 03, 2011 02:00:00
Startup Tips

How do I manage inventory?

Henry Ong gives 5 simple steps to manage inventory and maximize your cash

Q:  I am a small, start-up business owner—I recently started a neighborhood convenience store, which I plan to expand by the end of the year. I do my own bookkeeping. Can you give me some tips to make this task less of ...

by Henry Ong  | July 04, 2011 09:00:00
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