Every aspiring entrepreneur should have a roadmap—a strategy for growing their business from a core idea to a profitable venture. A business model defines an entrepreneur’s overall plan for making a profit, identifying its core product (or service), target market, value proposition, and strategy for sustainability. This guide will introduce you to the basics of…
What is
Returns Management: Ultimate Guide for SMBs in 2024
Returns management is a supply chain process that addresses unwanted, recently purchased merchandise. It begins with a customer requesting to return an item and ends with the item being returned to inventory, refurbished, recycled, or otherwise disposed of. This article guides you through the process of handling returns, returns management strategies to implement in your…
Restaurant Kitchen Prep List: How to Create & Use
A kitchen prep list is a list of tasks that a restaurant kitchen needs to complete before opening to the public. It is the most crucial point of work for every cook in your kitchen—an effective prep list sets your team up for success. A poorly made prep list results in inefficiencies for your team…
What’s New in QuickBooks Online & How The Updates Benefit Businesses
Editor’s note: We will continuously update this post with new features of QuickBooks Online, so be sure to check back regularly. QuickBooks Online regularly introduces new features to make the platform more user-friendly and help users improve work efficiency. Below, we’ve listed the latest QuickBooks Online updates, including new features and changes, and discussed how…
How Does Valet Parking Work?
Valet parking is a service offered in restaurants, hotels, shops, and other establishments where guests leave their vehicles in the hands of a valet for parking. It not only lets businesses manage parking traffic flow but also saves time and relieves the burden of parking for customers—which helps create a better dining experience overall. In…
What Is Customer Service Experience? Strategies, Examples & Tips
Customer service experience is a customer service aspect based on the customer’s interactions with your business’s sales and service teams across the sales cycle—before, during, and after purchasing your product, service, or solution. But the best approach must be holistic, proactive, omnichannel, and ongoing, encompassing the totality of customer experience. Learn what customer service is,…
What Is Customer Service Analytics? Types, Benefits & Examples
Customer service analytics is the process of studying customer behavior, preferences, and expectations to get insights that can improve your customer interactions. This data helps your sales reps connect with prospects better to earn their trust and business. In this guide, we define customer service analytics, its types, benefits, and examples, which can help improve…
What Is a Perpetual Inventory System & When Is It Used? (+ Example)
A perpetual inventory system is a method of continuously tracking inventory levels and transactions in real time.
Perpetual inventory systems record transactions—like inventory purchases, sales, returns, and adjustments—as they occur. This is unlike periodic inventory systems, which depend on physical inventory counts and end-of-period adjustments Perpetual inventory systems also provide up-to-date inventory data at any given moment and enhance accuracy, making it a useful tool for manufacturers, retailers, and ecommerce businesses. How…