05.30.17

How Manufacturers Can Reduce Waste

Look around most shop floors, and you will see evidence of waste. Piles of scrap materials can be found around production and assembly areas, leading to safety issues and cleanup costs. If you look deeper into the operations of manufacturing companies, you will see that waste extends beyond trash. This article explores the concept of waste and provides creative solutions for reducing it with preventive maintenance, routine physical inspections and effective quality control.

05.26.17

Reframing: How Not-For-Profit Leaders Can Keep Learning on the Job
Sarah G. Widlock

Whether an executive on staff or a member of the board, new to the organization or a long-time veteran, a not-for-profit organization’s leader sometimes faces tough challenges that a formal development class will not address. However, according to the not-for-profit organization Community Resource Exchange (CRE), learning on the job can be a rich source of leadership and management development. This article describes two self-coaching opportunities, advocated by the CRE, that lean on resources one can find in one’s self, within the workplace and among networks.

05.25.17

Should I Implement Third-Party Billing for My Health Care Practice?
Amanda Gutierrez

Physician practices tend to struggle frequently with the decision about whether or not they should outsource their billing processes. It can be quite the balancing act weighing the pros and cons. What is good for one practice might not work for another. This article goes over a few considerations health care practitioners should take when deliberating third-party billing.

05.25.17

Is Your Restaurant Ready for a Second (or Third) Location?

Are you thinking about expanding your restaurant? Is now the time to open a second location? Opening a second (or third) location for your restaurant is not a decision to be taken lightly. This article provides a few considerations restaurant owners should take before they map out their move for expansion.

05.17.17

The 28 Accounting Terms Every Entrepreneur Should Know

It happens more often than you might think. High-growth business owners that think they are “in the know” when it comes to finance and accounting jargon. But, in reality, they do not understand the most important accounting terms every entrepreneur should know.

05.17.17

Combining Liquidity and Efficiency Metrics: Cash Conversion Cycle Can Be a Useful Management Tool
Kenneth Tornheim

The cash conversion cycle is a financial metric that evaluates the time it takes your company to convert raw materials to cash collected from customers. This article tells how it is calculated and what it means.

05.12.17

Is it Time for Your Company to Draft an Expense Policy?

Still don’t have a written expense policy? Do not worry, you are not alone. Many businesses and startups overlook this item at the beginning. Initially, it may seem unnecessary because there are not a lot of travel and expenses incurred and, if there are, they are mostly incurred by a select few people. However, as your business grows, you will notice more of your staff are either requesting reimbursements or you are having to add more employee credit cards to your account. Worse, you may begin to be concerned that your employees are over-spending on certain expenses. This article provides a few considerations you should take when drafting your company’s expense policy.

05.09.17

Is Now the Time to Lock In a 30-Year Mortgage?

Buying a home is one of the most exciting and expensive purchases you will make. Whether you are buying a new home for your growing family, a vacation home for the summer or winter, or an investment property, deciding how to pay for it is just as important of a decision as it is to pick the house that is right for you. How you choose to finance such a major purchase can have a significant long-term impact on your finances. If you are purchasing your home and are considering a mortgage loan, this article will provide you with an understanding of the main types of mortgages and what benefits they can provide to help you determine which mortgage is most appropriate.

05.05.17

Fraud and the Not-for-Profit Organization: How to Counter Your Vulnerabilities
Kenneth Tornheim

Every organization, whether for-profit or not-for-profit, is at risk of falling victim to costly acts of fraud. Not-for-profit organizations, however, have some common characteristics that can make them particularly susceptible to fraud. This article discusses organizational weak spots and advises on ways to combat risks by implementing some simple controls. A Sidebar discusses the “fraud triangle” of conditions that can lead to fraud.

05.05.17

Helping Soon-to-Be Retirees Understand RMD Rules
James Pellino

Employees who are approaching retirement age may be unaware of their required minimum distribution (RMD) obligations, which begin at age 70½ for both individual IRAs and 401(k)s. This article summarizes what they need to know for financial and tax-planning purposes.