Dummies.com: Small Business & Careers

Why the Workplace Values Analogical Thinking and the MAT

The Miller Analogies Test (MAT) is a standardized test normally used for graduate school admissions. The test is composed entirely of analogies. But does the workplace value your ability to solve analogies [more…]

How Higher-Margin Products Fit in Your Business Model

Gas stations don’t make money from the sale of gasoline. They make their profit from the sale of higher-margin items like cigarettes and soda. While creating your winning business model, think about which [more…]

Improve Your Business' Profits without Raising Prices

All business models erode and grow weaker over time. Your job is to assess the model and make changes before it’s too late. If your profit isn’t what it once was, consider raising your prices — without [more…]

Get Business Model Ideas from Other Businesses

Business model innovation is a necessity. The constant march of competition and time causes all business models to erode eventually — you can’t stand still and expect to get ahead. Regularly spend time [more…]

Ten Off-the-Wall Ideas that Can Improve Your Business Model

They’re called innovations for a reason. Great ideas rarely are in the mainstream or are conformist. Some of the best ways to innovate a business model come from unusual or counterintuitive means. Here [more…]

Revenue and Cost Relevance in Cost Accounting

In cost accounting, relevant means that you consider future revenue and expenses. Also, relevant means that a cost or revenue will change, depending on a decision you make. Past costs are water under the [more…]

Relevant Qualitative Factors in Cost Accounting Decisions

In cost accounting, qualitative factors don’t involve numbers and financial analysis. Call them “people” factors. Decisions based in part on qualitative factors are relevant, even though you can’t tie [more…]

Special Orders in Cost Accounting

In cost accounting, a special order is a one-time customer order, often involving a large quantity and a low price. This is a chance to make money or lose money. Tough choice. [more…]

How to Weigh Opportunity Costs in Cost Accounting

In cost accounting, opportunity cost is what you give up by making a decision to go in one direction rather than another. Opportunity costs occur because all businesses have limited resources. [more…]

Consider the Carrying Cost of Inventory in Cost Accounting

When cost accounting, inventory can be a big cost in your business, and inventory issues may be a factor in a decision to outsource. If your company carries inventory, you have to consider the carrying [more…]

Capacity and Product Mix in Cost Accounting

In cost accounting, product mix refers to the mix of products you produce. Sales mix refers to the mix of products you sell. They are broadly related. Every company deals with limited capacity, so smart [more…]

Customer Profit and Capacity in Cost Accounting

In cost accounting, a cost object is anything (a product line, a unit, a batch) that’s used to accumulate costs. A customer can also be a cost object. Looking at costs and profit per customer helps you [more…]

Relevant Cost and Revenue: A Cost Accounting Case Study

In cost accounting it’s necessary to connect the relevant cost and relevant revenue to the capacity planning. After all, capacity is limited. Relevant, of course, refers to the cost and revenue that makes [more…]

The Cost Accounting Decision Model

In cost accounting, a decision model is a process for making important decisions. Most types of organizations (businesses, sports teams, and governments, to name a few) have a formal process for making [more…]

To Outsource or Not to Outsource: a Cost Accounting Decision

In cost accounting, outsourcing is defined as purchasing a good or service from an outside vendor rather than producing the good or service in-house. It’s also referred to as a [more…]

What You Need to Know before Launching Your Micro-Business

When you decide to be a micro-entrepreneur, such as a home-based or one-person business owner, make sure you pay special attention before taking the big step. If you recklessly choose to start your own [more…]

Five Easy Ways to Have an Internet Presence without a Website

Being visible and present online is essential today for any micro-entrepreneur. Although a paid website is the best way to have an Internet presence, you may choose not to spend the [more…]

Six Easy Ways to Help You Make Money Fast

What may have started as a hobby has now blossomed into your own micro-entrepreneurial business. You’re now offering your product or service to customers with the goal of making money. These six options [more…]

Tapping into Five Free, Valuable Online Tools for Managing Your Business

No matter whether you’re just starting your own micro-business or you’ve been working for several years, you want everything to run smoothly and cost effectively. As a micro-entrepreneur, your focus is [more…]

Micro-Entrepreneurship For Dummies Cheat Sheet

As a micro-entrepreneur, you’re searching for tips and tricks to maximize profits and minimize losses for your micro-business. No matter what you offer to your customers, whether it's a service or product [more…]