Author: Eric Berman

Effective inventory management can mean the difference between a thriving, profitable business and one that struggles to make ends meet. By fine-tuning your inventory processes, you can reduce unnecessary costs, meet customer demands efficiently, and put your resources to better use. Whether you’re running a small business or managing large-scale operations, the right strategies can help you achieve operational excellence and long-term success. Here’s a look at some inventory management…  Read more

Imagine this – you’re sitting in a cosy café with your favourite latte, daydreaming about your perfect retirement. Is it beachside lounging? Surfing the dunes of Dubai? Or maybe living quietly in the countryside, tending to a little garden? Whatever your vision looks like, the looming question remains the same for all of us: “How much do I actually need to retire comfortably?” Spoiler alert: there isn’t one universal answer.…  Read more

Starting a business is an exciting time. Maybe you’re launching a dream project with a close friend or teaming up with a few like-minded partners to bring an idea to life. But as thrilling as the early stages of running a company can be, it’s essential to think ahead – especially when it comes to setting up a shareholders agreement. Wondering, “Is this something my business really needs?”. The answer…  Read more

Are you an entrepreneur wondering how to fund your next big idea? Or maybe you’re an investor curious about tapping into the world of innovative startups? Crowdfunding could be the solution you’re looking for. Crowdfunding isn’t just about raising money—it’s about building a community, validating your ideas, and creating exciting opportunities. But how does it work, and how can you make it work for you? Stick around as we break…  Read more

Think back to when you started your business. What drove you? Maybe it was the dream of freedom, the excitement of being your own boss, or the simple fact that you loved what you did. Fast forward to now—are you thriving and in control, or are you stuck juggling a million things, feeling like you’re working harder than ever with little to show for it? That’s the exact scenario Michael…  Read more

If you’re a small business owner or a startup founder, you’ve probably heard about Cost of Goods Sold (COGS). But what does it really mean, and why is it crucial for your business’s success? Understanding COGS isn’t just about accounting—it’s about making smart decisions for profitability, pricing, and more.  This blog walks you through everything you need to know about COGS, from defining the term to showing you how to…  Read more

Selling a business isn’t just about signing on the dotted line and handing over the keys. For small business owners, it’s more than just a transaction—it’s often the culmination of years of hard work, growth, and dedication. Whether you’re passing the baton to focus on new opportunities or preparing for retirement, negotiating the sale of your business will determine whether you walk away satisfied—or leave money on the table.  The…  Read more

Managing a small business can feel like balancing countless tasks at once. In the midst of it all, one key metric stands out  – Gross Profit Margin. But what is Gross Profit Margin, and why does it matter for small business owners? Let’s look at how to calculate it, why it matters, and how you can use it to unlock your business’s full potential. What is Gross Profit Margin? At…  Read more

If your company is experiencing rapid growth, you might find yourself navigating a good news/bad news situation: while your sales figures climb, managing cash flow becomes increasingly complex, pushing you to seek additional financing to meet the rising demand. Consider this scenario: A well-known retailer expresses interest in your products, presenting an exciting opportunity that could significantly elevate your business. However, they have a requirement: they want a substantial discount…  Read more

Imagine receiving a call from what sounds like your boss, urgently requesting a fund transfer. Or maybe you’re asked to verify your identity using a government ID—except the person on the other end has a near-perfect AI-generated fake of your ID card. Scenarios like these aren’t far-fetched anymore. AI-powered fraud is growing rapidly, and both businesses and individuals need to understand the risks and how to defend themselves. AI-powered fraud…  Read more

When it comes to valuing a business, most people’s first thought is straightforward—profits. While financial success is undoubtedly a critical aspect, it’s far from the only factor determining a business’s true worth. For small business owners and entrepreneurs, understanding the complexities of valuation can offer a clear roadmap for sustainable growth and long-term success. Here is a fresh perspective on what makes a business truly valuable. We’ll discuss traditional valuation…  Read more

For many business owners, the day-to-day demands of running a business can make long-term planning seem like a distant concern. But, failing to plan for succession can put your business—and its legacy—at significant risk. The question you need to ask yourself is: Is hope your exit plan, or do you have a strategy? The reality of succession planning Succession planning involves identifying and developing new leaders who can replace old…  Read more

In any successful operation, accountability is the bedrock upon which trust and performance are built. At the heart of this dynamic are leaders who not only demand accountability from their teams but also embody it in their leadership style. Here’s how they maintain a culture of accountability: 1. Communicate and uphold high expectations Accountability is a framework that helps individuals understand what is expected of them, ensuring they meet expectations…  Read more

Succession planning in a family business is a complex and often emotional process that involves more than just passing on company control to the next generation. It requires careful preparation, open communication, and a deep understanding of the emotional dynamics at play. Effectively managing these emotional dynamics is crucial to ensure both family harmony and business continuity. Understanding emotional dynamics Family businesses are a unique blend of personal and professional…  Read more

If you’re a business owner, chances are you’re juggling a lot—keeping your team motivated, negotiating with partners, meeting customers’ needs, and trying to build meaningful connections in an increasingly digital world. It’s easy to feel like you’re on a treadmill going at double speed. But here’s the thing—no matter how much technology changes the way we do business, one truth remains constant: your success will always depend on how well…  Read more

There are some things in life that go together well and others that definitely do not. Business and personal finances are in the category of items that should not be mixed. Although it may seem like a headache to keep them separate—who wants to manage all those bank accounts?—your life will be greatly simplified once you separate your personal and your business finances, especially your expenses. Paperwork and taxes will…  Read more

Social media can feel overwhelming. With so much noise and so many platforms, where do you start? The truth is, a great social media strategy can transform how you connect with customers and help to grow your business. The reach and accessibility of social media platforms are unprecedented. They connect businesses with a vast audience, in real-time. Besides their broad reach, social media platforms also serve as a valuable tool…  Read more

Change is inevitable in any business, but it’s rarely easy—especially when it comes to managing morale. Whether you’re restructuring your team, implementing new processes, or pivoting your business strategy, major transitions can leave employees feeling uncertain, disengaged, or even overwhelmed.  If you’re a change leader or small business owner, you’re probably asking yourself, “How can I guide my team through this while keeping morale intact?” You’re in the right place.…  Read more

Successful businesses don’t just invest in tools and innovation—they invest in their people. An employee training program is a strategic way to empower your team, close skill gaps, and cultivate loyalty. But where do you even begin to craft a program that truly makes an impact? This guide will walk you through actionable steps to develop an effective employee training program that aligns with your business needs and leaves your…  Read more

Data is more accessible than ever. But how can small businesses leverage it effectively to drive growth? Let’s explore data-driven strategies that can help you make informed decisions, improve customer experiences, and ultimately, boost your bottom line. Why data-driven strategies matter Data-driven strategies are essential for businesses seeking to remain competitive and achieve sustainable growth. These strategies enable businesses to make informed decisions based on real-time insights rather than relying…  Read more