The Profit Beacon

Celebrating SBDC Day

dallascrilley — Wed, 20 Mar 2019 16:46:08 +0000

The SBDC is a terrific organization that supports small businesses across the US. There are around 1,000 offices that cover every county in the country! They provide most services at no charge and offer a broad range of expertise in strategic planning, business plan development, marketing, finance, operations, etc. I encourage any small business owner to find the nearest office and talk with an...

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Fred Parrish: Luxury Brands Burning Old Inventory

mike — Fri, 28 Sep 2018 06:00:00 +0000

A recent trend among luxury brands is to burn old inventory. Fred Parrish recently commented on this trend. Well that’s what they say, and these companies do spend millions of dollars building their brand. The really high end company do not want to see their product on people who otherwise would not be able to afford them. These brands feel that by destroying old inventory their performing a...

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The Pros and “Cons” of Hiring People with Criminal Records

mike — Tue, 04 Sep 2018 06:00:00 +0000

A number of states have recently passed or approved laws that would impact whether or not potential employers are informed of a potential employee’s criminal background. The case can be made for both sides. On one hand, this could be unfair to potential employers, and on the other, if they know the information, they could immediately and unfairly exclude perfectly adequate employees who need...

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Fred Parrish On Expressing Opinions in Limelight: Dak Prescott Stands for National Anthem

dallascrilley — Thu, 09 Aug 2018 06:00:00 +0000

Cowboys Quarterback Dak Prescott has received backlash for his comments explaining why he stands for the National Anthem and supports Cowboys management’s decision to enforce it. Since then, there was spray painted on a west Dallas alley wall a picture of Prescott wearing a frightened expression. It’s now been defaced by someone clearly unhappy with the depiction. Profit Expert Fred Parrish...

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Fred Parrish: Walmart Considers Heavier Monitoring of Customer Service Transactions

dallascrilley — Fri, 27 Jul 2018 06:00:00 +0000

The nation’s top retailer, Walmart, recently filed a new patent for a video system that will keep tabs on customer service transactions. Financial strategist Fred Parrish weighed in on the matter on ESPN radio. You know, when I first heard about this, it does have that creep factor to it, but you know the more you think about it, companies have really been looking for ways to monitor employees for...

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Fred Parrish: How Can Small Businesses Compete Against Big Tech Companies?

dallascrilley — Fri, 20 Jul 2018 06:00:00 +0000

The recent Amazon Prime Day didn’t go as smoothly as hoped. Behind the screens were glitches, failed landing pages, and problems with the shopping navigation. Fred Parrish highlights the importance of preparation, test runs, and having realistic expectations of potential outcomes, especially as a large company. “They may never tell us exactly what happened, but I can tell you that they were...

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Cash is King, So How Are You Managing It?

dallascrilley — Sun, 01 Jul 2018 06:00:00 +0000

Knowing Your Cash Buffer Days Can Help Gauge the Financial Health of Your Business= Most small businesses hold a level of cash reserves that would provide an insufficient cushion in the face of a significant economic downturn or other disruption. That’s among the findings in a JP Morgan Chase study titled “Cash is King: Flows, Balances and Buffer Days.

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Small Business’s Top Headache

mike — Fri, 01 Jun 2018 06:00:00 +0000

Taxes remain the top headache for small business owners, according to Capital One’s Small Business Growth Index. Among those surveyed, 47 percent say taxes are a major worry this year, despite tax reform intended to help grow business. Meanwhile, the US Supreme Court will soon decide if states can force online retailers to collect sales tax on purchases. South Dakota is asking the justices to...

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Make the Most of Your Economic Prospects

mike — Tue, 01 May 2018 06:00:00 +0000

CFOS are increasingly optimistic about the economy in the US and abroad, with 90 percent of those surveyed ranking conditions as good, up from 74 percent last quarter, according to Deloitte’s 2018 Q1 CFO Signals survey. “The passage of tax reform and government spending bills in the US appears to have further bolstered confidence — with growth expectations for revenue, earnings, capex...

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Conscious Business Strategies to Grow Profit

steveward — Tue, 24 Apr 2018 06:00:00 +0000

Special Guest: Burke Franklin Burke Franklin is the creator & CEO of BusinessPowerTools.com, best known for BizPlanBuilder® software, which has sold more than 2 million copies. “It’s crucial that your innovations succeed in our world. This means that your business must be profitable and sustainable – without you losing control, your mind or your shirt!” he says. Burke graduated from UC...

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