Vendor managed inventory, or VMI, is a collaborative strategy that differs from traditional supply chain models by bridging the gap between suppliers and retailers to make inventory management a shared responsibility. VMI can benefit both vendors and retailers if done correctly, but it requires careful setup and close communication. In this article, we’ll cover what…
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What Is Talent Management & How to Apply It—Ultimate Guide
For HR professionals and small business owners, understanding talent management ensures that the right talent is in place to meet current and future business objectives. Effective talent management also enhances employee satisfaction and engagement. Therefore, having robust talent management strategies are essential for fostering a high-performance culture that aligns individual achievements with the company’s broader…
Pros and Cons of Crowdfunding a Business
Crowdfunding typically involves getting a small amount of money from a large number of investors and can be a good way to raise funds for your business. It can provide multiple benefits, such as eliminating the need to satisfy a lender’s loan requirements, getting access to larger amounts of money, and more. However, some downsides…
What Product Qualified Leads (PQLs) Are & How to Use Them
Product qualified leads (PQLs) are warm leads with the highest likelihood of conversion among sales leads since they already recognize your product’s value. Minimum viable PQLs have tried or are currently using your product’s free version and are showing positive buying signals. When generating PQLs, salespeople must observe buying signals, like hitting a free product’s…
What Is Form 4797? (+Example)
Form 4797 is used to report sales of business property commonly referred to as section 1231 property. Section 1231 property includes assets used in your business, such as buildings, machinery, and equipment, but excludes assets held as investments or inventory. Determining the gain or loss on section 1231 property is straightforward. However, determining whether that…
What Is Business Communication? A Small Business Guide
Business communication involves sharing information between people within and outside an organization, including colleagues, partners, clients, and stakeholders. Effective business communication is the backbone of efficient operations and contributes to informed decision-making and reduced errors. In this article, we’ll cover what business communication is, its types and channels, and our recommended service providers. Business Communications…
What Is PPC Advertising? Why It Matters + Examples
Even if you don’t know what pay-per-click (PPC) advertising is, you’ve probably encountered it before. PPC ads appear at the very top of Google search results with a “Sponsored” tag, or as image or video ads on websites and social media. What does PPC stand for? PPC stands for pay-per-click advertising, because you only pay…
Rental Property Insurance for Landlords: Costs & Coverage
Insurance for rental property protects the landlord’s property from damage or loss of income, and also guards against liability. Location and property type both influence what you pay for coverage. Typically, and on average, insurance coverage for a rental property will cost between $1,200 and $1,600 for a condo on the West Coast. Meanwhile, the…