Category: Running a Business

How to Conduct a Break Even Analysis for Food Truck Businesses

How to Conduct a Break Even Analysis for Food Truck Businesses

Your food truck business may fill an entrepreneurial passion, but if it’s not profitable it simply won’t last, no matter how much customers love your food. It’s crucial food truck owners understand their break even point; the point when it becomes a profitable business.  And even more importantly, you need to put a dollar amount on what it will take to get there so you don’t run out of money before you turn a profit.  What Is Break Even Analysis… Read More
The Power of Local Partnerships

The Power of Local Partnerships

There are various types of local partnership opportunities that small business owners can form, depending on your specific goals and the nature of your business. You can co-market or cross-promote your products or services, establish referral partnerships, or partner on events or workshops. Partnerships with other local businesses can increase brand awareness and draw in potential customers.  Before initiating a partnership, clearly define your shared goals and objectives. Discuss with potential partners how collaboration can benefit both parties and contribute… Read More
Double-Entry Accounting: Understanding the Fundamentals

Double-Entry Accounting: Understanding the Fundamentals

The double-entry bookkeeping system is a bookkeeping method to track two sides of a general ledger for each business transaction: debits and credits. This accounting method helps accountants and small business owners know right away if there’s an error in their bookkeeping because the two sides of the ledger should balance out. Using this method can increase the accuracy of a business’s books, and it’s usually easiest if the calculations are done by accounting software or a service. This article… Read More
Top 5 Small Business Trends

Top 5 Small Business Trends

As an entrepreneur or small business owner, you may not have time to stay on top of business trends. So we’re bringing them to you. Your business should evolve with changes in the world around you, both to make your strategy more effective and to make your life easier. Learn five of the top business trends in 2024 — and which your business might want to join in on — in this article from Nav’s experts. What Should Companies Focus… Read More
The Power of Influencer Marketing

The Power of Influencer Marketing

Balance One Supplements is a family owned business that specializes in the manufacture, supply and distribution of premium dietary supplements. James Wilkinson, CEO and co-founder,  has found influencer marketing to be key to his growth.  “As a small business owner of a DTC brand, I've extensively relied on influencers to build a community around my brand and to attract and retain loyal customers,” he says.  You may have heard the term “influencer marketing” but aren’t sure exactly what it means.… Read More
Customer Loyalty Programs for Small Businesses

Customer Loyalty Programs for Small Businesses

When you’re running a business, finding customers is the goal. But repeat customers can be even better for your bottom line. And while a great product can drive repeat business, often you need even more than that.  That’s where customer loyalty programs come in. They can offer perks that get your customers back in your store (or back on your website), incentives to talk about your business on social media, or rewards for referring other customers.  Here’s expert advice for… Read More