Six Tenets for Business Success
By By Tyler Burgess as featured in Construction Executive
The success of a construction company is no longer dependent on the artisan or the professional craftsman turned construction company owner, running a profitable and efficient business may be an entirely new craft. By applying these six tenets–and a little bit of hard work and determination–construction company owners can master the craft of business management.
Tenet one: Produce profitable sales
Profitable sales begin with strategic bidding. The person who performs this task must be knowledgeable about the financial side of the business and understand the difference between variable and fixed costs. Variable …
Web approach
By Tom Ryan as featured in Smart Business Philadelphia
How to develop an online business strategy
While many business owners recognize the need for having a Web site, most don’t have a clear strategy. Instead, they see their site as a simple electronic brochure where prospective buyers can learn about their business, but a Web site should be much more — it should be designed as part of your business’s online strategy.
E-commerce has too often been viewed as a separate marketplace. It was that view that resulted in the wild run-up of stock prices for Internet based companies before …
Still Time to Reduce Year-End Taxes
By Craig Koop as featured in Home Business
Businesses and individuals, armed with an understanding of changes in the federal tax code, can still make decisions that may significantly impact their 2003 tax liability. There are generally three basic strategies that can be employed to decrease income tax liability: 1) deferring or accelerating income; 2) accelerating expenses; and 3) taking advantage of available tax credits.
Deferring or Accelerating Income
Individuals with relatively stable income, who experience no significant movement between tax brackets, most commonly postpone payment of taxes by deferring income and accelerating deductions. For example, delaying a year-end bonus …