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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
Startup Tips

Good inventory management equals big profits

Maintaining inventory costs money, but not having enough stocks means your supply would be compromised. Here\\\'s how to strike a balance.

The growth of businesses engaged in manufacturing or retail products distribution means the entrepreneur must constantly deal with an increasing list of inventory items to manage.According to supply chain expert Arthur Kessel of logistics and freight handling company Accela Inc., a business ...

by Rafael Santos  | April 03, 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