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Understanding Customer Lifetime Value

A widely recognized concept in marketing circles is customer lifetime value (CLV); however, not many business people without a marketing background understand what it is exactly or how to measure…

Partnership Pros and Cons

Are you thinking about forming a business partnership? Starting a business with a partner affords many benefits. In a perfect world, that means sharing the expenses, ideas, workload, responsibilities, and…

Working With Outside Investors

Depending where they are in their startup phase, new businesses often get several types of investment funding. Though some entrepreneurs can bootstrap, that is fund themselves from savings and continue…

Total Employee Compensation Package

The cost of an employee is more than their salary. Hiring an employee often involves paying a portion of their social security, medicare and unemployment taxes. Many companies offer benefits…

Measuring the ROI of Your Marketing Budget

These days, small businesses are under more pressure to prove ROI or return on investment of their marketing budgets. That means marketers have to track performance through more than site…

Social Media Marketing

Leveraging social media marketing can increase your customer base significantly. According to the Pew Research Center’s 2018 Social Media Fact Sheet, social media usage among American adults has grown from…

Basic Accounting Statements

Keeping track of the money in your business is essential if you want to prosper. However, most small business owners have skills or a specialty that inspired them to start…