|
|
|
The return on assets calculator is created to help you determine if you are wisely using the assets that are controlled by your business. The calculation is made in several steps. The first step is to determine your average inventory for the past year. Enter in the ending inventory for each of the past 12 months. The second step is to total your operating expenses for a 12 month period. Do that in the "Annual Operating Expenses" section. The third section is where you input the amount of assets at year end. After that you input your cash sales and charge sales. Charge sales are not bank card sales, but are from 'house' or corporate charge accounts. The input of 'cost of goods sold' should be from a year end profit and loss statement. Miscellaneous business income is often for income from investments, dividends from buying groups, or rent collected for space that is provided to other businesses. |
APRIL 2024
|
With over 25 years of frontline experience Tom Shay is America's leading Small Business Management Expert. He's a "Must Have" for your next event.
Small Business
"What's your score"? is the name of the April Small Business Advisory. This provides an introduction to our return on investment calculator. It is a great way to understand how well the investment you have in your small business is working for you.
Small Business
We believe Thursday, April 25 is an important annual celebration for small businesses. While the name of the celebration has varied over the years, the focus is for us to take kids to work with us.
This is important for the kids to see what it is we do. They definitely are not going to learn about it in school. Reading the April Small Business News you will see an example from community pharmacists that emphasizes it is up to us as small business owners to introduce kids to what we do.
While titled, "If not price", the April Article of the Month is asking the question about the focus of your small business in attracting and keeping customers.
If there is not something very special about your business, then the only attraction to your businessis that of a low price.
"The plan as you go business plan" is the April book of the month. The author is Tim Berry who has also created software on the same topic.
I do not agree with the concept of "fill in the blank" or "create the plan as you need it" because my experience has been that you do not have as strong as a connection and understanding to your business plan unless you do it yourself and you dedicate the time to create it.
