What Is the Profit First Method? Definition & Overview

What Is the Profit First Method? Definition & Overview

What is the Profit First method? In what way is the Profit First accounting system superior to traditional methods? Mike Michalowicz, a business makeover specialist and entrepreneur, believes that traditional accounting methods often fail in the long term because they prioritize the wrong things. The Profit First method is Michalowicz’s alternative to traditional business accounting. In this article, we’ll explore the main principles of traditional accounting, Michalowicz’s argument for why they don’t work, and the main tenets of his Profit First accounting method. 

Cost-Cutting in Business: 4 Failproof Methods

Cost-Cutting in Business: 4 Failproof Methods

Are you looking to cut down on your business expenses? How do you determine what your business needs and what can be cut? When it comes to cost-cutting in business, it should never be done at the expense of your crucial functions. Before you cut costs, identify resources you couldn’t do without and cut only what you don’t need. Here’s how to lower your business expenses.

Tesla’s Company History: It Almost Went Bankrupt

tesla

What is the Tesla company history? What did the beginning of Tesla look like? What almost brought Tesla to bankruptcy? Tesla was born out of a shared vision for the future and a big investment from Elon Musk. After the first model was built, manufacturing and financing issues quickly followed. In the end, it was a deal from the Department of Energy that saved Tesla and put it on the road to success. Keep reading to learn more about Tesla’s company history.

How to Close a Speech: 5 Strategies for Success

How to Close a Speech: 5 Strategies for Success

What’s the best way to end a speech? What are some things you should avoid doing as you close your speech? A spectacular talk can be ruined by a bad ending. Your speech ending will determine how your audience will remember it. Avoid boring endings, asking for money, or alluding that there was more you couldn’t get to.  With this in mind, here’s how to close a speech on a high note.

How to Pay Yourself as a Business Owner

How to Pay Yourself as a Business Owner

How much of your company’s monthly profit should go into your salary? How much should you reinvest back into the business? As a business owner or entrepreneur, it’s difficult to know how much of your profits you should keep for yourself and how much should be reinvested into the business. Some owners splurge and go overboard while others pay company expenses with their income. Here’s how to pay yourself as a business owner, according to Mike Michalowicz.

How to Use Visual Aids in Public Speaking

How to Use Visual Aids in Public Speaking

What exactly are “visual aids”? What are the benefits of using visual aids in public speaking? Visual aids are any visual elements that are used for the purpose of enhancing or clarifying the speaker’s message (e.g. graphs, charts, slides). Visual aids can also serve as anchors to help you streamline your speech. If you choose to use visuals in your presentation, keep the following dos and don’ts in mind. 

How to Get More Customers and Grow Your Business

How to Get More Customers and Grow Your Business

Do you want to learn how to get more customers for your business? Do you have a viable marketing plan that focuses on attracting new customers? Persuasive marketing is the key to getting more customers. While Byron Sharp, the author of How Brands Grow, believes that marketing to new customers is the perfect solution to growing a brand, there’s also evidence that focusing on existing customers is beneficial for your business. Here’s how to get more customers while also retaining your existing ones.

How to Grow a Brand & Beat Competitors in the Market

How to Grow a Brand & Beat Competitors in the Market

Do you want your business to be the best in its field? Do you want to know how to grow a brand through great marketing? According to Byron Sharp, the author of How Brands Grow, growing a brand relies on a fixed pattern that focuses on attracting new customers, rather than keeping existing customers. He also claims that memorable branding is an essential part of this pattern, as it keeps customers thinking about your brand. Continue reading for Sharp’s advice on how to grow a brand and more information on the pattern of brand growth.

Memorable Branding: 3 Strategies to Boost Your Brand

Memorable Branding: 3 Strategies to Boost Your Brand

Do you want people to remember your business’s brand? How can you implement memorable branding into your marketing strategy? In his book How Brands Grow, Byron Sharp claims that the most effective way to market your brand is to increase the likelihood that consumers will think about it. You can easily create memorable branding in just three ways: advertising regularly, creating recognizable brand assets, and expanding your brand’s reach. Let’s go more in-depth on Sharp’s three memorable branding strategies.

Management Versus Leadership: The Key Difference

Dare to Lead: Book Overview and Takeaways

Do you want to inspire your team members? What is the difference between management versus leadership in the context of organizational management? Both management and leadership are important for any organization, but many companies suffer from too much of the former and a lack of the latter. The key difference between management versus leadership is that leaders focus on the organization’s people, whereas managers focus on the organization’s things and objects. Keep reading to learn about the difference between management versus leadership, and how to be a better leader in your organization.