The driving force in many expansion plans is to generate higher sales, with the hope that profits will rise. But before making moves to buy new equipment, expand your plant or implement a new business idea, you need to grasp the profit angle. In some cases, an expansion plan boosts sales but not profits. You wind...

When you’re bargaining over starting salaries or pay raises, be on sure footing or you might find yourself tumbling into a legal quagmire. If you succumb too easily to better-than-average negotiators, you may wind up running afoul of federal law. When salaries are skewed in favor of one group – say, white males – your company...

The IRS and state tax authorities have made significant strides in curbing individual identity theft over the last two years. But cyber attacks against businesses are on the upswing. Here are some simple ways business taxpayers can help protect their data from hackers. Trends in ID Theft The IRS recently announced that the number of individuals reporting identity theft in the...

The dictionary defines a process as a series of related steps that lead to a desired result. If members of your sales staff are in a slump, implementing a formal sales process can help them identify their deficiencies. Although not every salesperson can be a superstar, an improved sales process can improve your associates’ performance and your...

At the end of June, the U.S. Supreme Court adjourned for its summer recess. Here are five recent cases from its 2016 term that may be of interest to business owners and managers. Advocate Health Care Network v. Stapleton(S. Ct. No. 16-74, June 5, 2017) Under the Employee Retirement Income Security Act of 1974 (ERISA), employees...

At many companies, the mindset of managers stifles innovation and inhibits profitability. Some of the best money making ideas come from people who work on the front lines. Yet, employees often hear the same negative responses when they try to share them. Does your management team react to suggestions with these phrases? Don’t be ridiculous. We’re...