Many small business owners struggle with knowing where to allocate their time and resources. One issue we hear about a lot has to do with sales and marketing—which is more important?

The short answer is that both are important, but what we’ll look at today is the relationship between the two and how the industry your business is in has a lot to do with knowing which one deserves more of your time.

It’s likely that you have an idea in your mind of “The Salesperson.” This is the smooth talker, the rainmaker, the person who’s never at a loss for words and somehow manages to turn the most aggressively uninterested prospect into an eager buyer. While this persona exists for a reason, it’s not a good way to build a sales team. As a business owner, you can’t rely on finding that one extraordinary salesperson in order for your company to function.

Running a profitable business is a big challenge. Fifty percent of businesses started in the U.S. fail within the first 5 years. Why? Because they are unable to create a profitable business model.

While there are many different factors that play into running a profitable business, in this article, we’re going to focus on just one simple fact: the difference between revenue and profit. The distinction matters, and it helps immensely if the entire team has the same understanding of what profit is.

If you’re like most small business owners, you’re feeling the pinch of today’s economy. As you look for ways to increase revenue, it’s important not to overlook all of your options. The good news is that there are probably more ways to grow revenue than you might think.

We’ve found it’s common for businesses to focus on just one way to increase revenue, which is by getting new customers. While that’s a viable option, it also tends to be the most expensive one and can take the longest to pay a return. In fact, there are three simple ways to increase revenue that apply to almost every business. In this article, we expand on the three ways to increase revenue to give you more options for your business.

Finance is a term that refers to the management of the flow of money through an organization. It encompasses the generation of revenue, the tracking of the money, and knowing how it’s used.

When my business partner and I decided to get a valuation of our company, back in 2012, we were 12 years into our tenure as business owners. We had built a legal professional services business that was running successfully and paying the bills, but we wanted to know what it was actually worth.

What are the Non-Negotiable Business Development Rules?

Business Development Rules focus on the functions of a company that generate, sustain, and grow revenue. These functions include Marketing, Sales, and Customer Service.