Bad Bad Business

There is a lot more to being in business than most people realize. You have to deal with everything that the average worker doesn’t have to. Irate customers, missing inventory and thin profit margins are all par for the course. Another problem is deciding if taking in money is bad business in certain circumstances. In …

Take Your Profit First, ALWAYS

The formula for profitability has been established for ages. Every business owner, CEO, freelancer and entrepreneur knows it. It is required by Generally Accepted Accounting Principles (GAAP), which is enforced by the SEC in the US and the International Accounting Standards Board internationally. GAAP’s fundamental formula for profit is simple: Sales – Expenses = Profit …