Run Your Small Business & Enjoy Life at the Same Time

Monthly Archives: November 2011

Do You Really Need a Business Plan?

Starting a simple small business is very much like a roller-coaster ride. It has many ups and downs, twists and turns and sometimes heart pounding excitement. It is definitely thrilling and scary at the same time. In the midst of hundreds of things to do for a new start-up, one can get lost in unnecessary tasks or even lose track of the important things. In order for start-up founders not to lose their sight on important things, it is imperative to have a business plan. Even if that business plan is on a napkin or a single sheet of paper.

Business plans are like roadmaps or blueprints. They provide start-up founders with a direction, and necessary information to form correct… Continue reading

Understanding The Difference Between Profit Margin and Markup

Many people have a problem with accountants' jargon and often get confused between the terms "profit margin" and "markup" which are often bandied about freely or used interchangeably. Although these two terms are used to express different things, they are also, in fact, two different ways of analyzing the cost and profit of a product or service in your small business . Continue reading
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