One of the early-developed lean tools, developed in the 1930’s, is The 5 Whys. It is a problem-solving technique developed by the founder of Toyota Industries Corporation, Sakichi Toyoda. It's also useful for solving your business problems, regardless of your industry.
Companies using a calendar year to do their financial statements need to take this time of the year to do budgeting for next year. Budgeting? Why would a company need that? Just do their thing – sell and hope for the best? That’s NOT a good way to run a company. Not good at all. All the big corporations budget everything – sales, expenses by category, cash flow, etc, etc. And, they do it on a quarterly basis. Why? One, they want a target that they believe they need to hit and so they then plan what they must do to hit that target. And, secondly, they use it for accountability – to measure the performance of each subsidiary or department that fed their budgets into the overall budget. Planning and accountability.
The Small Business Administration has some key changes to the Paycheck Protection Program (PPP) to ensure America’s smallest businesses get exclusive access. Read more
Observe los cambios que puede realizar en su negocio y comprenda lo que eso significa para sus ventas y costos. Read more
In this module, you will learn about accounting and bookkeeping systems, sources of capital, the six C’s of credit, and banking relations. Read more
In this online module, you'll learn the importance of financial planning, how to build your financial model, how to understand financial statements and more. Read more
If you want or need to apply for a business loan, use these steps to understand the application process.