Common Finance Terms Used In Small Business Explained
One of the biggest issues for small business owners, when it comes to incomprehensible terminology, is the jargon that is used to describe common finance terms. If you do not know your profit from your turnover, however, read on.
Steps to Starting a Small BusinessWhen most of us think about starting a small business, we think it is a fairly straightforward process. We believe that we go from idea to business in a blur of activity, and that we suddenly wake up owning our own company. That is not strictly true.
The Formula for Business SuccessMost small business owners I speak to tell me that they wish there was a formula that could guarantee their business’s success. The good news is that there is. I have based my own business on it, and I teach people from around the world how to boost their profitability, and get the life they want, simply by applying it to their business.
What Your Conversion Rate Is, and Why It MattersYour conversion rate is the number or percentage of all your potential clients who decide to buy from you. If you own a retail store, it would mean the number of people who enter your store who actually make a purchase, and if you have an online business, it would be the percentage of your unique traffic that become your customers.
Why More Leads Mean More BusinessConsider leads. We all get business leads all the time. Someone we know mentions a project they have seen that we could work as a contractor on. Leads to new business are everywhere, and we encounter them every day.