Stale inventory is a costly nuisance for any business owner. Ideally the rule of thumb is to sell the goods taking up space on your sale floor within 90 days; after the three month mark stale inventory becomes dead inventory. Products are much harder to move and nearly impossible to get top dollar for. Fortunately there are a number of ways to recoup at least part of your investment on…  Read more

Change in business is almost always a good thing, but often poor management means that the workforce becomes disengaged and the change process painful. In the worst cases, this results in irreparable damage being done. It doesn’t need to be this way. Follow these nine steps and empower yourself to successfully lead your people through major organizational change. Understand the change Make sure you understand exactly what is changing and how…  Read more

Maintaining positive cash flow can be challenging for small businesses, whether you’re just starting out or have been running your company for years. The difficulty often comes down to waiting for clients to pay their invoices. One or two chronic late payers cost valuable time and money when you have to chase them down; if reliable clients also fall behind one month, the result can be devastating. These tips will…  Read more