Effective tax planning is essential for anyone wishing to build wealth and every business owner must have a good understanding of general tax laws. Making decisions solely based on the tax consequences is not intelligent.
FARGO – Most organizations have a set of criteria which they use to measure progress toward achieving specific goals. Today, industries have developed these criteria into what are commonly called key performance indicators or KPIs. KPIs are useful in two primary ways: one is to measure progress, another is to measure performance. Establishing them can give leadership a more concrete way of determining whether the organization is moving in the desired direction or slipping.
FARGO, N.D. – We are living in a unique time in economic history, especially in our region. As businesses try to expand and grow, one of the biggest challenges they face is finding qualified employees at wages that let the business earn a profit. Smart business owners measure the value of their employees in a variety of ways. Some use wages as a percent of revenue; some use strict cost accounting to determine the labor costs per unit of production.
FARGO, N.D. – This month in Prairie Business, we have highlighted 40 individuals under the age of 40, many of whom have already achieved more than some do in a lifetime.
FARGO, N.D. – The idea of creating a lasting brand was established by such great corporations as Coca Cola, Ford Motor, IBM, McDonald’s and super marketers such as 3M and Procter & Gamble. Much of the value of branding came after World War II, when consumers were looking for consistent, reliable, quality products when uncertainty surrounded the market place.
FARGO, N.D. – Every organization creates its own marketing strategy. Most customers who stay with a business over time do so because they feel they get value from the business. In other words, the business strategy is aligned with what the customer values. What is successful at one business may be disastrous at another.
When a person believes in what they do or sell, his or her commitment and joy is usually evident. Many product inventors love their inventions so deeply that the ability to market effectively becomes clouded with personal enthusiasm rather than creating user value. Someone develops a technologically advanced tape measure application for an iPad, but can’t sell it since users of tape measures don’t always carry around a computer with them, especially when it’s time to do measuring.