Increase Profits

Telephone Communication for 21st Century Businesses: Radio Interview with Charlie Fusco of Synergixx

Call centers have a not-so-great reputation with many consumers. Between aggressive telemarketers and foreign-based customer service centers, call centers sometimes do a disservice to the businesses they are trying to help. Charlie Fusco, an expert in call center services, talks with Dean Rotbart of Monday Morning Radio about how businesses can best utilize their call centers … [Read more...]

3 Ways to Add More Revenue Streams to Your Small Business

When you own your own business, you have to not only expect, but also plan for the natural ups and downs that you’re likely to face financially—especially in your first few years of operation. Some weeks it’s a feast and the next it can be a famine, making it desirable to find other ways to earn income so you’re more stable and able to withstand the “dry” seasons. One of the … [Read more...]

The Pros and Cons of Sharing Company Ownership with your Employees

When you have worked hard to establish and build your small business, why in the world would you consider sharing the ownership of that business with your employees? The answer is the same answer you use in making your other business decisions—it could be good for business. First, the term "ownership" can be confusing. It is important to understand that offering your … [Read more...]

You Are Finally Making a Profit, Now What Should You Do With It?

When you start a business, your goal is to begin turning a profit as soon as possible, and then to grow that profit as much as you can. That's a fundamental element of capitalism. But there is a story about a dog who chased cars every day until one of them crashed in a ditch. The dog ran to the car but didn't really know what to do; he had always focused on chasing the car, … [Read more...]

What is ROI, or Return on Investment?

ROI is the measure of an investment’s efficiency. Simply put, it’s a calculation that gives a comparable gauge of an investment’s profitability; ROI is especially useful in comparing two or more investments, is easily calculated, and it can be applied to a variety of investments. ROI = (Gain from investment - Cost of investment) / Cost of investment If a business finds … [Read more...]

What is a P&L, or Profit and Loss Statement?

A P&L is a financial statement that summarizes all the revenues, costs and expenses that a business has incurred over a period of time.  The P&L is a helpful snapshot of the company’s ability to generate profits, either by increasing revenues or by reducing costs and expenses. Usually P&Ls are reported quarterly or on an annual basis, as part of a company’s … [Read more...]

How the NFL Makes Its Money

If there is one thing we can all agree on, it’s that the National Football League is a financial juggernaut. In 2014, the National Football League raked in 7.3 billion dollars, with each of the league’s 32 teams taking home $226.4 million. This was an increase of more than twenty percent from 2013’s revenue. For many businesses, 7.3 billion dollars would be enough, but the … [Read more...]