Recent News

Is your company’s pricing strategy still viable?

Pricing is among the most powerful levers for business owners to calibrate their companies’ profitability. Set prices too low and you risk leaving money on the table. Set them too high and customers may pass you by for cheaper competitors.Your continuous objective should be to find that sweet spot where prices are competitive while supporting your profit margins and long-term growth. Trouble is, that sweet spot tends to move around a lot — so you must regularly reevaluate your pricing strategy. Crunching the numbers To get started, crunch some numbers. Use your financial statements to determine whether your current prices...

How businesses can fund a buy-sell agreement

How businesses can fund a buy-sell agreement Businesses with more than one owner benefit from having multiple viewpoints and varying skill sets. However, they also face serious risks of uncertainty and conflict if one of the owners suddenly departs or undergoes a major life change. A carefully crafted buy-sell agreement can guard against these risks — if it’s securely funded. Transfer guidelines A “buy-sell” (as it’s often called) is a legally enforceable contract among a company’s owners that sets guidelines for transferring ownership interests. It gives the remaining owners or the business itself the right — or, in some cases,...

Businesses strive for balance in hybrid work models

If your business allows employees to perform their jobs under a hybrid work model, it’s not alone. Ever since the pandemic, many companies have sought to strike a balance between permitting some remote work while also requiring staff to come into the office (or another type of facility). Data released this year shows that, by and large, businesses seem to have found a certain equilibrium regarding hybrid work. However, maintaining the right balance for your company will require a careful eye going forward. Schedule control Just this month, Gallup published survey results showing that, as of May 2025, 51% of...

Major Changes Coming to Federal Payments

On March 25, 2025, Executive Order 14247 was signed into law. Starting September 30, 2025, the Federal government will change how it makes and receives payments. The government will transition away from paper payments like checks and money orders and shift almost entirely to modern, electronic payment methods. The goal is to increase efficiency, reduce costs, prevent fraud, and improve the security of payments involving the Federal government. Key Changes End of Paper Checks:Soon, the Treasury will stop issuing paper checks for most Federal payments—including tax refunds, benefits like Social Security, vendor payments, and more—with only a few exceptions. Electronic-Only...

Developing a comprehensive AI strategy for your business

We’ve reached a point where artificial intelligence (AI) offers functionality and enhancements to most businesses. Yours may be able to use it to streamline operations, improve customer interactions or uncover growth opportunities. However, getting the max benefit calls for doing much more than jumping on the bandwagon. To make this technology truly work for your company, you’ve got to develop a comprehensive AI strategy that aligns with your overall strategic plan. Identify your needsMany businesses waste resources, both financial and otherwise, by hastily investing in AI without thoroughly considering whether and how the tools they purchase effectively address specific needs....

Businesses can strengthen their financial positions with careful AP management

Running a successful business calls for constantly balancing the revenue you have coming in with the money you must pay out to remain operational and grow. Regarding that second part, careful accounts payable (AP) management is critical to strengthening your company’s financial position. Proper AP management enables you to maintain strong relationships with vendors, suppliers and other key providers. It also helps ensure you avoid costly mistakes, prevent fraud and maintain a steady cash flow. Underperforming at AP management may hamper your ability to obtain the materials or services you need to operate, damage your business’s reputation, and trigger financial...