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Posts Categorized: Management by metrics

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What Are Direct Costs? Metrics in a Minute

Quick Definition of Direct Costs: Direct costs (also known as Costs of Goods Sold—COGS) are the costs that can be completely attributed to the production of a specific product or service. These costs include the cost of materials used to create the product and potentially any labor costs that are exclusively used to create the… Read more »

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How to Run a Monthly Plan Review Meeting

Most people think that meetings are a waste of time. They’re right. Too many meetings are run poorly, have no real objective, and waste employees’ time—which kills productivity. There’s tons of advice and information on how to run better meetings and cut down on useless meetings that are making your organization move slower. I absolutely… Read more »

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The Small Business Owner’s Accounting Cheat Sheet

According to a study undertaken by the Small Business Administration, 28% of companies go bankrupt due to problems with the financial structure of the company. Many of these problems could be avoided by following good accounting practices. Keeping a record of your financial details IS important to the livelihood of your business. Not only will the correct… Read more »

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The Lean Startup: Benefits and Criticisms

The Lean Startup is a business approach that is synonymous with the work of Eric Ries (who has also published a book called The Lean Startup) and Stanford professor Steve Blank. It describes a new approach for startups and prescribes behaviours they should adapt to increase the likelihood that they will succeed. While the concept… Read more »