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  • How to Project Profits With Cost Volume Profit Analysis - SG Small Business Centre
    portion of sales salaries all have the potential to go up To estimate profits at higher sales levels you need to account for these increasing costs At certain intervals in your forecast for instance each time your sales grow by 50 percent reevaluate the fixed cost figure and adjust it as necessary Estimate Profit Your net profit is sales minus variable and fixed expenses As a formula it looks like this Net profit price per unit x units sold variable costs per unit x units sold fixed costs For example if your variable costs are 30 per unit fixed costs are 10 000 a month and your product is priced at 100 per unit If you sell 500 units a month your profit is 50 000 less 15 000 less 10 000 for a net profit of 25 000 If you sell 750 units a month your profit is 75 000 less 22 500 less 10 000 for a net profit of 42 500 Calculate Your Break Even Point If you re worried that your business may experience some slow months you can switch a few numbers around and calculate your business s break even point the minimum number of units you need to sell to cover your costs To calculate break even set profit to zero and solve for units sold In a formula format break even equals fixed costs divided by price per unit less variable cost per unit In the above example break even is at 10 000 divided by 70 or 143 units Play With Prices and Quantities Cost volume profit analysis can also tell you how a price change might affect your profits Under the basic rules of supply and demand you ll sell more products at a lower price point and less at a higher price point If you have an idea of how elastic the demand for your product is you can plug in new numbers for price and sales quantity to project your profits For example instead of selling 500 units a month at 100 each you may be able to sell 400 units a month at 125 each with the same fixed costs and variable costs per unit Even though gross revenue is the same in either scenario net income would increase by 3 000 See all articles How Small Businesses Can Stay On Top Of Their Finances 24 Accounting Terms Every Business Owner Needs to Know How to Calculate the Ideal Profit Margin for Your Small Business 4 financial tips for new business owners How to Project Profits With Cost Volume Profit Analysis Maximize Profit and Minimize Loss 5 Components of a Solid Financial Plan Choosing and Defining Invoice Payment Terms Cloud Based Accounting Three Steps to a Bright New Way of Working 3 Must Know Tax Benefits for SMEs in Singapore When should I start preparing my Annual Returns 7 Accounting Formulas Every Business Should Know 4 Simple Strategies to Get Paid Faster 5 Things to Consider when Pricing

    Original URL path: http://quickbooks.intuit.sg/r/finance/how-to-project-profits-with-cost-volume-profit-analysis/ (2016-01-01)
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  • Finance Archives - Page 2 of 3 - SG Small Business Centre
    a small business owner in Singapore making a sale is only half the battle Owners must also take steps to ensure that the invoices they send out are paid in a timely fashion Cross border business dealings are common in Asia where business owners readily Read Views 812 Cloud Based Accounting Three Steps to a Bright New Way of Working by Tim Hoopmann on May 6 2015 At Cornerstone making the decision to shift our bookkeeping services and client base to cloud based accounting was monumental for many reasons Although we first had to convince ourselves and then our clients that cloud accounting is the way of the future Read Views 662 3 Must Know Tax Benefits for SMEs in Singapore by Derrick Kwa on April 29 2015 Nobody likes paying taxes Luckily as a small business in Singapore there are some benefits available to you With these benefits your business will be able to enjoy a considerable amount of savings throughout tax season Tax Savings for Companies In Read Views 1 312 When should I start preparing my Annual Returns by Derrick Kwa on April 22 2015 Annual returns The dreaded topic in the midst of spring each year

    Original URL path: http://quickbooks.intuit.sg/r/finance/page/2/ (2016-01-01)
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  • Finance Archives - Page 3 of 3 - SG Small Business Centre
    businesses face at some point not just in Singapore but all over the world It s frustrating and it can occasionally be a struggle to keep cash flowing so you can pay your own vendors and your st Read Views 621 5 Things to Consider when Pricing Your Product by Derrick Kwa on March 26 2015 Choosing a pricing strategy for your product can be intimidating because there s a lot riding on it You can tackle this task by breaking it down using these five considerations Cost The most fundamental part of pricing is that you need to make enoug Read Views 630 7 Ways to Instantly Cut Down on Business Expenses by Derrick Kwa on March 20 2015 Do you need more cash flow There are two ways to do that increase income or reduce expenses If you can t raise your prices or you re afraid that you ll lose customers if you do you can get more money back into your business by cutting down on unnec Read Views 599 4 Things Every Business Owner Should do for a Financially Happy Year by Derrick Kwa on March 1 2015 The first quarter of 2015 is almost

    Original URL path: http://quickbooks.intuit.sg/r/finance/page/3/ (2016-01-01)
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  • Advocate Marketing – what is it and why you should care - SG Small Business Centre
    friends They want to help others get the most out of your product or service They are often found answering questions and participating in your support community 3 Customer references These are the customers you turn to when you need a customer story or reference They have experienced your product they love it and they want to share their experience with others Your sales reps probably have some such customers who they turn to as references These aren t the only types of customers you can target but they provide a good starting point to build your advocate marketing program Mobilizing and encouraging your advocates to spread the word Once you ve identified your advocates you want to mobilize them to increase your word of mouth You want to engage with them on a regular and personal basis and get them involved Ask them to take small quick actions such as following you on Twitter posting a photo on Instagram or sharing your latest Facebook post By keeping your asks small your advocates are more likely to take action While you plan out these asks keep in mind what your end goals for your marketing program are For example if your current goal is to grow your Facebook audience and brand awareness you could ask your advocates to share your Facebook posts If your goal is to increase your ratings on online review sites it might be more useful to ask your advocates to post positive reviews Whatever you ask your advocates to do try and make the process enjoyable Make sure to engage with them as individuals be personal and engaging Keep your asks regular personal varied and interesting in order to increase participation Providing a meaningful reward Your advocates already love your brand They don t need financial incentives to talk about you In fact financial rewards can often backfire By offering discounts and special offers you re more likely to attract people looking for a deal and not your true advocates That doesn t mean you shouldn t reward your advocates though Your advocates do want to know that their efforts are appreciated As people we all have a desire to belong and be part of a community That s how you show appreciation to your advocates Invite them into your tribe provide them exclusive behind the scenes access to your business send them personal hand written notes offer sneak peeks at upcoming products You wouldn t give your best friend an envelope of cash for their birthday You d look for a unique gift that makes him her feel special Advocates are your business best friends Treat them that way and make them feel special Doing so will not only validate why they love you but also gives them even more reason to tell others about you more Having a defined planned advocate marketing strategy in place will help you systemize and increase the word of mouth around your business It takes effort and time but

    Original URL path: http://quickbooks.intuit.sg/r/marketing/advocate-marketing-what-is-it-and-why-you-should-care/ (2016-01-01)
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  • 5 Lesser-Known Marketing Metrics You Should Pay Attention To - SG Small Business Centre
    every month or so The objective of this is to flush out the referring links which are not performing and if you are paying for underperforming links stop and focus on those that matter 3 Exiting URL What does it measure This is the last URL a user visited before leaving your site or clicking away Why bother Ideally all of your site visitors would end their sessions on your contact us page resulting in an influx of leads However many visitors drop off long before that It s important to track the underperforming URL that leads to high repeated user premature URL exits Perhaps the user experience isn t engaging enough or you might be lacking a major piece of information If you sell goods online and everyone leaves when they get to your online order form it s time to look into your order form interface or even fix your customer service When do I pay attention Checking this metric every quarter is often enough It s also worth taking a look at if you do notice a steep decline in orders or contact us emails 4 Average Number of Pages per Visit What does it measure Quantitatively it measures the number of pages a typical user visits during one session on your site Qualitatively it measures engagement Why bother If your site is more than one page deep you probably want your visitors to spend a little time clicking around to find out more However if the majority of your visitors are simply visiting one page and then leaving you re sorely lacking any real engagement and probably won t make many sales that way Also a low average number of pages per visit could indicate an issue with your SEO efforts so you might want to do an SEO check as well with your specialist When do I pay attention If you run any Google AdWords or other keyword campaigns it s always a good idea to track this metric from the onset you would want to know if people are actually finding any utility in what you have to offer 5 Site Path What does it measure This metric illustrates what pages a visitor clicked through while on your website Why bother While a little cumbersome to decipher site path is another metric that can provide you with some behavioral insight What information do my customer consume usually before checking out While this isn t a huge leap to make it can also guide you in shaping your content Use it to help your customers speed up their visits and save time they will thank you with higher conversion When to pay attention If you add pages to your site or change an online process then it s a good idea to take a look at site path data from before and after the change If your goal is to simplify the ordering process but the changes you made still result in either a similar

    Original URL path: http://quickbooks.intuit.sg/r/marketing/5-lesser-known-marketing-metrics-you-should-pay-attention-to/ (2016-01-01)
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  • 5 Free Marketing Strategies You Can Use Today - SG Small Business Centre
    respect you for it If you sell cupcakes you could teach a class on fun decorating techniques and allow customers to soak up your baking expertise If you are a bookkeeper you might write a tip sheet for keeping a handle on holiday spending and send it to your clients in your nifty new email newsletter Spread Goodwill via Social Media Promoting other businesses or nonprofits is a great way to generate good feelings while also putting your business name in front of current and future customers Link to complementary businesses on Facebook or retweet a nonprofit s fundraising event on Twitter Let a bit of your warm personality show through in social media and draw customers to you Contribute an Article News outlets especially smaller ones are often hungry for content Reach out to a local Singaporean paper or online news site and offer to write an article or a regular column on your area of expertise Do the same thing with the trade magazines for your industry Remember that this content should not be directly self promotional By sharing your knowledge with readers you are gaining exposure to a wider audience and establishing yourself as an expert Be sure to promote links to any articles you write in your email newsletter social media and your website Send Thank You Cards Personally written cards thanking clients for their business and asking them to refer their friends can go a long way toward establishing goodwill and long term relationships Enclose a couple of business cards and let your clients know you look forward to seeing them again See all articles The True Cost of Acquiring a New Customer 4 tips to hyper charge your sales force A Small Business Guide to Turning Leads Into Sales Why content is the next

    Original URL path: http://quickbooks.intuit.sg/r/marketing/5-free-marketing-strategies-you-can-use-today/ (2016-01-01)
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  • How to Improve Your Email Open Rate - SG Small Business Centre
    article recommends sending emails from a specific company employee like a president or CEO instead of a generic business address Research shows that subscribers are more likely to open an email from a person rather than one from an organization You can also try to personalize your messages to your customers personalizing your subject line increases open rates by 26 Short Eye Catching Subject Lines Because subject lines are the first and sometimes the only part of your mailer a client reads it s only logical that they are one of the most important aspects of your email campaign In general businesses should try to keep subject lines short and to the point using 50 characters or less when possible If you want to optimize for mobile devices keep it under 36 characters When possible send multiple subject lines with each newsletter and keep track of how it affects open rates eventually patterns will emerge Learn more about how to test subject lines below An Excellent Email Body While people need to open the email in order to see the body having consistently good content helps to increase the open rates of return viewers Here are a few tips Break up blocks of text on a page to prevent cluttering Integrate intriguing images and graphics to catch the reader s eye Find an image that is both eye catching and relevant to your business or email and remember to keep photos small in size so they don t take too long to load Do use alternative text in case some of your subscribers have image blocking on as a default this can be done using the alt tag in HTML Have a good call to action to guide the reader what to do next and convert Maybe you want readers to Order Now for Free Shipping or Book Travel Today to Save 25 Don t just mention your call to action right at the end and litter it sparingly from early on together with content as some might not have the patience to read till the end Low open rates are the bane of many email marketing campaigns However companies can do a great deal to boost their rates just follow some of these tips and you ll start getting your messages read by more people in no time See all articles The True Cost of Acquiring a New Customer 4 tips to hyper charge your sales force A Small Business Guide to Turning Leads Into Sales Why content is the next big thing in marketing How to Use Split Testing to Improve Your Online Sales Advocate Marketing what is it and why you should care The Small Business Guide to Measuring Social Media ROI 5 Lesser Known Marketing Metrics You Should Pay Attention To 5 Tips for Responding to Negative Customer Reviews How to Improve Your Email Open Rate 5 Free Marketing Strategies You Can Use Today Small Business Guide to Creating a Marketing Budget You Can Afford 5

    Original URL path: http://quickbooks.intuit.sg/r/marketing/how-to-improve-your-email-open-rate/ (2016-01-01)
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  • How to Use Split Testing to Improve Your Online Sales - SG Small Business Centre
    possible visitors need to see it as soon as they visit your site If you aren t getting the amount of opt ins you want try repositioning it on your test site Move it to the top fold of your home page or toward the upper left corner which is where most visitors eyes go You can also test it in a hover ad or place it on every page of your site Create different headlines The headlines on your site often determine whether visitors stay and browse or log off so testing yours may result in changing how visitors interact with your site Some of the most effective headlines use large fonts bold colors lots of white space and tell visitors the benefits they will experience when using your product Add images The types of images you use on your site will impact how well it performs For instance eyetracking experts say that people prefer images that add benefit to their experience such as a good photo of the product or an image of a real person using it but tend to ignore stock images filled with models or those that just take up space Create a sense of urgency When you create a sense of urgency many visitors will respond by pulling out their credit card but if you do this you must be honest in the process to maintain your credibility In other words don t say you only have a limited supply of product and then go on selling it indefinitely Some of the methods you can use to test a sense of urgency are offering a limited time discount adding bonuses for a special promotion or only offering a limited amount of a particular product Remove all references to buying from the top fold Above the fold is still as important as it always was but the reason has changed The new school of thought contradicts older theories that say all relevant information including the call to action should be there In fact there are many cases showing that conversion rates are higher when the call to action is at the bottom of the page Use the top of the fold on your test site to engage the reader and show them the value of your product or service before you ask them to buy it Change the format appearance wording or color of the buy button The characteristics of your buy button can make a difference in how many visitors make a purchase so it s a great place to conduct split testing For instance one test showed that using the word My instead of Your increased the click through rate by 90 percent You can also try changing the color size and font of your buy button How to Conduct Split Testing If you want to conduct split testing on your website you ll need some specialty software designed for that purpose Optimizely is a great all round split testing tool to start

    Original URL path: http://quickbooks.intuit.sg/r/marketing/how-to-use-split-testing-to-improve-your-online-sales/ (2016-01-01)
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