What you don’t know when it comes to finance, can hurt you!
Understanding some basic finance models can help you make more objective decisions. This helps you avoid emotional decisions that often are the wrong decisions for your business.
The concepts that are walked through in this 30 minute video are;
1. Break Even Analysis
2. Basic Financial Ratios
3. Weighted Averages
4. Decision Making Trees
5. Net Present Value
By understanding the basics of these tools and when to consider using them, you have more tools in your toolbox as a small business owner.
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If you aren’t online, then you are missing out on business.
Especially with the advances, there are some really easy ways to get started. But there are also some complexities that will creep up depending on how you are planning on setting it up.
Some things that will help you figure out what platform and set up that you need for your ecommerce site are:
1. How many products are you selling?
2. What type of products are you selling?
3. How many places are you shipping from?
4. How many places are you shipping to?
5. How many states, provinces, and countries are you shipping to?
6. How many transaction do you have?
Go through the main points of what you need to consider. See some of the options out there. And learn what to look out for.
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