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All What is Articles - Page 28

Inventory Turnover Ratio: Definition, Formula & What It Means

By Crystalynn Shelton on August 13, 2019 | Accounting, Business Accounting, What is

The inventory turnover ratio is an efficiency ratio that measures how quickly inventory is turned into sales. A high inventory turnover is generally positive and means a company has good inventory control while a low ratio typically indicates the opposite. There are exceptions to this rule that we also cover in this article. If you…

What is Cross-Selling: Definition, Principles & How to Use

By Jason Aten on August 12, 2019 | Sales, Sales Strategies, What is

Cross-selling is a strategy used by salespeople to increase the overall value of a sale by suggesting additional products or services that complement the existing purchase. It is commonly used in retail sales but also has become common in B2B sales as well as service-based industries like professional firms and agencies. One of the best…

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73 Ecommerce Terms You Need to Know

By Janette Novak on August 12, 2019 | Ecommerce, Retail, What is

Ecommerce terms can be confusing, and the fact that new ecommerce terminology appears regularly doesn’t make it any easier. Below is a glossary of the most common ecommerce terms in use today. The definitions provided here are in easy-to-understand language. Build your mastery of ecommerce terminology by reviewing these 73 terms today. If you’re serious…

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Hawaii Labor Laws: What Small Businesses Need to Know

By Laura Handrick on August 7, 2019 | HR Laws, Human Resources, What is

Businesses operating in Hawaii must comply with federal labor laws in addition to myriad Hawaii state labor laws. These laws affect employers differently based on business size. Hawaii’s labor laws support Hawaiian workers with fair pay and other workforce benefits like unemployment, health insurance, disability benefits, and a safe and healthy workplace. Outsourcing payroll and…

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What Is a Microloan and How Can Your Small Business Benefit?

By Tricia Tetreault on August 6, 2019 | Financing, Startup Financing, What is

A microloan is a small loan, generally up to $50,000, made to startups and emerging small businesses. These loans are offered by nonprofit organizations known as microlenders. Microloans typically have repayment terms of up to seven years and offer favorable interest rates that are lower than those available through online lenders. What Is a Microloan?…

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Property Management Fees: How Much Do Property Managers Charge?

By Melanie Patterson on August 5, 2019 | Property Management, Real Estate Investing, What is

Paying property management fees for someone else to manage your rental property can save you time and money. Management fees are typically between 4% and 10% of gross monthly rent, plus fees. Some companies charge a flat monthly rate of $100 or more. Fees include advertising, screening tenants, handling leases, coordinating repairs, and responding to…

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What Does a Property Management Company Do & When to Hire One

By Melanie Patterson on July 31, 2019 | Property Management, Real Estate Investing, What is

Property management companies are great for investors who want to be less hands-on or who live far from their rental properties. What a property management company does to help investors is they manage the day-to-day operations of rental property. Depending on the property, management companies typically charge between 4% and 10% of gross monthly rent….

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What is Upselling? Definition & How to Increase Sales

By Sheena Jones on July 29, 2019 | Sales, Sales Strategies, What is

upselling

Upselling is a sales tactic where you offer your customers an additional product, service, or upgrade during or immediately following their initial purchase. Examples include offering extended warranties on laptops or premium features on a car. Upselling can be used to increase sales by getting customers to spend money besides the basic purchase. How Upselling…

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Accounts Payable Turnover Ratio: Definition, Formula & Free Template

By Crystalynn Shelton on July 25, 2019 | Accounting, Business Accounting, What is

The accounts payable (A/P) turnover ratio measures how fast a business pays its suppliers. The ratio is calculated by dividing total supplier purchases by the average accounts payable balance for the period. It can be used to identify payment issues, and it gives creditors a sense of your payment history with vendors. If you use…

What Is ADA Compliance & Who It Applies To

By Laura Handrick on July 22, 2019 | HR Laws, Human Resources, What is

The Americans with Disabilities Act (ADA) prevents workplace discrimination and helps enable proper access to business facilities for disabled patrons. Workplace ADA compliance falls primarily under Title I of the ADA, workplace, and employment―ensuring your hiring, employment, and disciplinary practices are fair. ADA enforcement begins once your business reaches 15 employees or more. How ADA…

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Is Intuit QuickBooks Capital Right for Your Small Business?

By Tricia Tetreault on July 19, 2019 | Business Loans, Financing, What is

Intuit QuickBooks Capital offers short-term loans in amounts up to $100,000. These loans carry expected APRs ranging from 12% to 32% and repayment terms up to 12 months. If you use QuickBooks Online, have a credit score of at least 620, and annual revenues of $50,000 or greater, you may be eligible. Small business owners…

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Federal Labor Laws & State Employment Laws

By Laura Handrick on July 17, 2019 | HR Laws, Human Resources, What is

Federal labor laws, like the Fair Labor Standards Act (FLSA), and related state laws affect all businesses with employees. They govern workforce practices like overtime, minimum wage, on-call pay, employee breaks, and sick leave as well as hiring minors and preventing discrimination. Employer compliance with labor laws can help you avoid thousands of dollars in…

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