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Your Lean Plan needs strategy, but even a great strategy is useless without tactics. Tactics are the things that you actually do to make your business work. Tactics are your road map—and here’s how to develop them.
When facing an economic crisis, it can be difficult to think about the future of your business. The need to survive takes precedence over planning and that can lead to both short and long-term problems for your business. Read on for steps on how to save your business and pivot to recession-proof success.
Don’t let times of uncertainty lead to panic and rushed decisions. Instead find ways to adapt and plan, starting with reviewing your budget and forecasts.
Keeping track of your business’s expense budget is really not that much different than managing a personal budget—in fact, it’s strikingly similar with just a few differences.
We all set goals in our personal lives, but in business, we’re not always as goal-focused. How can we actually track and reach our business goals?
Your expense budget is one of the keys to good business management. Here’s a detailed guide on how to build an expense budget—including what not to do.
The balance sheet is the most misunderstood financial statement—which is problematic because it is also one of the most useful. Here’s why the balance sheet matters, and how to read and create one.
Profit margin (also called operating margin) shows how much profit your business makes on every dollar of sales, before paying interest payments or taxes. It is usually expressed as a percentage. Here’s why it matters, and how to calculate the profit margin for your business.
Setting goals is a fundamental part of improving. Here’s how to set goals within your business and track your progress—which better improves your chances for achieving your goals.
Whatever type of business plan you’re writing, there are a few key financial items that you should definitely include. Here’s what they are, why they’re important, and how you should create them.