How to Increase Sales Without Extra Marketing Costs

You don’t need to break the bank in order to increase sales. Before I continue, I like to quickly mention that it is not enough to increase sales, each sales increase should also increase your profits. That is why small business should be very creative when it comes to marketing. As important as marketing is to every business, small businesses don’t have much funds to invest in it. This makes it difficult or impossible for them to compete with large companies. Large corporations can afford to spend thousands of dollars for the promotion of their products. But a small business that Continue ReadingHow to Increase Sales Without Extra Marketing Costs

How to Calculate Break Even Point in Business Plan

How To Calculate Break Even Point (BEP) in Sales and Units. Let me assume that you don’t know how to calculate break even point. But before we start talking about how to calculate the break even point, it is important you have the understanding of what the break even point is. Break even point analysis is a key financial analysis tool which you need to understand how to use as a business owner. It will help you in your pricing decision. Break even point is the point at which sales equal expenses. That is, a point at which you are Continue ReadingHow to Calculate Break Even Point in Business Plan

How to Evaluate Business Opportunities

Characteristics of Good Business Opportunities. There are many small business opportunities available to entrepreneurs. These range from home business opportunities to franchise opportunities or going for business for sale. But with all these business opportunities, good entrepreneurs know how to sieve them to determine the best business opportunities among others. If you are a budding entrepreneur looking for business ideas for beginners, it is very important that you don’t just rush into any business opportunity no matter how appealing it may sound. It is good that you how to evaluate business opportunities in order not to get your fingers burnt. Continue ReadingHow to Evaluate Business Opportunities

How to Start a Family Business

Understanding Family Business. What do you understand about family business?  What does it mean to start and run a family business? I consider this topic to be very important to anyone starting his or her own business. This is because a lot of people start a business which can be described as a family business unknowingly. Before I continue with this article, I will like to make certain clarification about what a family business is all about. If your business is jointly owned by your family members, you are running a family business. That does not mean that there are Continue ReadingHow to Start a Family Business

How to Start an Auto Repair Business

How to Start an Auto Repair Business at Any Scale. Auto Repair Services are in high demands nowadays with the influx of different makes and models of vehicles on roads. We used to have a large number of youths going into auto repair business as apprentices. But now, in this technological age where everybody wants to get rich quick, repair business is no longer appealing to our youths. Therefore, the gap between demand and supply of repair services is becoming wider. This has made auto repair business to become a lucrative business for those who have expertise in that line Continue ReadingHow to Start an Auto Repair Business