Bob Normand

You’re Never Too Small for a Mission Statement

Why You Need a Mission Statement (posted by Bob Normand 5 years 317 days ago.)

Growing from Entrepreneur to Manager

Small business is hardly small when it involves 5.6 million enterprises, employs more than 60,000,000 and accounts for 80% of new job creation. Small business is the heart and lifeblood of our economy. Great democratic and capitalist experiments worldwide continue to produce a record number of new business start ups year after year. Never in history have so many entrepreneurs emerged to start new ventures. ... (posted by Bob Normand 5 years 317 days ago.)

How to Calculate Your Break-Even Point and How to Use It

Definition of Break-Even: The Break-Even point in sales volume is defined as: “ That point in sales volume, or revenue, where direct costs have been recovered, fixed overhead expenses have been absorbed and where profit begins" . We can relate Break-Even Point to the information in our financial statements, particularly the Income Statement. The Income... (posted by Bob Normand 6 years 10 days ago.)

11 Ways to Improve Accounts Receivable Collections

Many small businesses do a good job delivering their goods and services but then find it difficult to collect payment, often causing a cash flow crunch. This may be because the credit worthiness of a customer was not properly investigated in the beginning or it may be that insufficient attention was paid to monitoring and collecting invoices due. Either way, it behooves a... (posted by Bob Normand 6 years 11 days ago.)

How to Design a Good Incentive Plan

Small businesses can utilize incentive plans to reward employees exceptional performance. Incentive plans should not result in arbitrary distributions of money casually decided upon by senior management. Instead, a good incentive plan must be quantified, must be a predictable result to the employee and must be directly related to measurable performance beyond the norm. This differentiates incentive plans from... (posted by Bob Normand 6 years 11 days ago.)

Four Keys To Building a Profitable Small Business

FOUR KEYS TO BUILDING A PROFITABLE SMALL BUSINESS By Robert A. Normand (posted by Bob Normand 7 years 171 days ago.)