An allowance for doubtful accounts is a contra asset account used by businesses to estimate the total amount of goods and services sold that they do not expect to receive payment for. Located on your balance sheet, the allowance for doubtful accounts is used to offset your accounts receivable account balance.
It’s easy to pooh-pooh email as a marketing tool. We’re all bombarded with marketing emails from companies we bought from once years ago, and all of their messaging ends up in our junk mail folder.
Why even bother putting effort into something your customers will ignore? Maybe, you think, you...
Hey, all you Chicken Littles of the world. Contrary to how you are feeling, the sky is not falling. Yes, there’s no way around it–this has been an extraordinary year, and the sheer magnitude of the calamity and sorrow might make some entrepreneurs inclined to simply pack it up and call it a disaster.
Entrepreneurs are busy people, and for efficiency’s sake, you need to delegate many tasks that others can do just as well as you can. Outsourcing is cost-efficient, as long as it makes sense — particularly for administrative tasks such as creating graphics, social media posting and other tasks that can be performed just as well...
There is a time in a business’s lifespan when you’ll have to start looking at financing options. This might be to cover for some unexpected event, or maybe you’re starting to eye a second location. Some business owners might want to start expanding their product line, or invest in marketing. Royalty-free image Too many people,...
Running a business can feel like running a marathon. With rapidly evolving markets, an entrepreneur must continually anticipate how to offer their users a better product or service. But if you forget to pace yourself, you can slide down the slope to becoming a workaholic.
You might be thinking: "But the most...
Attracting new customers is difficult. After going to so much effort to win customers over, you certainly want them to stay loyal to your brand.
There are hundreds of books on how to build a brand, which only points to how complex this field is. Brand loyalty...