Consignment allows businesses to sell goods via third-party sellers without requiring the sellers to pay for the goods upfront. Because consignees are only tasked with selling consigned inventory, ownership remains with the consignor until it is sold to final customers. In exchange, the consignee will get a commission from the sales. In this article, we’ll…
Ultimate Guide
What Is LLC Insurance Coverage & How Much Does It Cost?
Limited liability company (LLC) insurance is a set of policies that LLC owners buy to protect their financial assets. Each policy covers a different type of risk, but the most common ones include general liability and commercial property. The combined policies that make up LLC insurance can cost anywhere from $450 to $1,200 annually, depending…
From Bills to Taps: Why Are Businesses Going Cashless?
Businesses are increasingly opting for cashless transactions as they seek to streamline operations, increase efficiency, enhance security, and cater to consumer preferences. The transition from traditional cash-based transactions to digital payment methods has accelerated, particularly in the wake of the COVID-19 pandemic when contactless payments had become a preferred way to pay. The Rise of…
Boomerang Employees: How to Recruit and Onboard Returning Workers
Despite any initial apprehension about welcoming back boomerang employees (former staff at your company), you can benefit from embracing these individuals’ renewed commitment and enthusiasm. Recognizing returning employees as valuable assets rather than just returning faces can foster an environment of respect for growth while cultivating strong employee-employer relationships. But, what is a boomerang employee?…
What Is Employee Burnout: Causes, Signs & How to Handle
The World Health Organization (WHO)[1] defines employee burnout as an occupation-related syndrome brought about by chronic workplace stress that has not been managed successfully. Employees who are burned out can either feel mentally, emotionally, or physically exhausted from the work-related stress. They are also generally dissatisfied with their jobs and no longer feel motivated to…
Retailer’s Guide to Product Bundling in 2024
Product bundling is a retail sales strategy in which multiple products are sold together as a group. These products might be a set of the same items, complementary items, or completely different pieces of merchandise—the concept and contents of the bundle are up to you. The goal is to increase your sales volume and inspire…
SBA Loans: Types, Rates & Requirements
The Small Business Administration (SBA) offers several different types of loan programs. Loans are issued by private lenders, and because funds are insured by the SBA, rates and terms can be more competitive than other traditional methods of financing. Different SBA loan programs have varying rates, terms, qualifications, and allowable uses for the funds. The…
CRM Integration: The Ultimate Guide for Small Business
Turn your customer relationship management (CRM) software into a hub for sales, marketing, and collaboration through CRM integrations with other business applications. In this article, we explore how CRM system integration works and dive into ways integrations can streamline your company’s customer management activities and workflows. We also discuss common CRM integration examples, including email,…