business break even point

Why You Need To Know Your Business Break Even Point

By Asa Beavers | financial management

As a business owner, what keeps you up at night? You’re probably snickering at that question simply because the list of things could go on and on. Well I’ve had the opportunity to ask that question to business owners many times, and the most prominent answer is, cash flow, or should I say lack thereof.

So wouldn’t it be good to know at what point during the month your business achieves the breakeven point? By the way, breakeven is when total revenue equals total costs. After all, up to the point in the month where your business achieves breakeven you haven’t earned a dime of profit yet. All your money has gone to just pay the business operating costs.

Here's a simple formula to calculate your business break even point...

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keeping score

You Are Keeping Score In Your Business, Right?

By Asa Beavers | performance management

You ask someone how their work is going, and the reply is “pretty good”, or “it’s coming along”, or “just about done”, only to learn a bit later that the job is really only 20% complete. English teachers call these verbal diversions euphemisms, or escape words. They are a long way from the truth and they are rampant in business.

For some people there is too much truth in exact measurement. They just don’t have the courage to face the truth of exact measurement and instead focus on activities, not results. Along the way they collect reasons – excuses – why the job they are working on is “almost…”, or “just about…” done.

Using key performance indicators (KPIs) is a great way to turn your business into a game. Here's some tips on creating your own score keeping system...

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leadership lesson listen

4 Ways To Lead By Following

By Asa Beavers | leadership

When I think of leaders, I visualize something different than many people do. A high-performing team is one in which every player acts in a leadership capacity—at least part of the time. Unfortunately, many still think of leadership as something assigned exclusively to one person. The image of a lone individual standing at the head of a board room table, “calling the shots,” illuminates a misleading idea that I believe is all too pervasive in workplace cultures. Successful leaders create thriving organizations by stepping out of the spotlight and showing others how to achieve their own greatness.

There's all kinds of good that comes from being a good listener, especially when you're the boss. Here's 4 tips to keep in mind...

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