Zero-Based Budgeting has recently experienced a rise in popularity as an effective technique to cut costs and grow margins. In this piece we discuss how large companies have been employing this method as a means to unlock drivers of growth and how your organization might be able to do just the same. We also share the pitfalls to look out for when cutting costs in general.
Atención, señores y señoras, we are now officially bicontinental! Last month, Bernoulli Finance opened an office in Spain, our first on the European side of the Atlantic. In the short term, Bernoulli Finance-Tenerife will be our main analytics unit. In time, it will spearhead our growth in the European and Middle-Eastern markets
PayPal and Square have shaken up the startup financing space with innovative lending products. Their loans are fixed-fee, delivered almost instantly, and repaid automatically with a percentage of the lendee’s sales. So much prettiness makes you forget to analyze the financial merit of these loans. So we took a closer look at the matter and built a calculator to help you assess your PayPal loan option.
Not liking the boss is the most common cause for employee unhappiness, and in turn a major factor of staff turnover. This is particularly a problem in the food service industry where managers often rise to their position based on skills that have nothing to do with their ability to manage people. Here are a few ideas to ensure that your business is lead by better bosses.
Building on our earlier article on inventory management, we now consider a quantitative approach: ratios. Inventory ratios help precisely measure and manage your stock levels and improve performance, cash flow, and profitability. Here we explain the 4 inventory ratios that every inventory-carrying company should keep in mind.
It’s a business owner’s worst nightmare: too much inventory sitting in a warehouse, collecting dust, eroding capital, and counting down its days until obsolescence. Then there’s the opposite problem: a sudden spike in demand that your inventory is too meager to meet. How do you regulate your inventory to hit the sweet spot?
The October unemployment figures just came out: unemployment is low, and wages are increasing. In the food space, particularly restaurants, an industry with very low margins and very little wiggle room, this has created a terrible labor shortage. Do you know what your employee turnover is costing you?
A recent study found that each additional star on Yelp results in a 5% to 9% increase in revenue for a restaurant. Like them or hate them, online reviews have become a factor to reckon with if you operate a food business. They have empowered consumers and made the success of restaurants about so much more than product.
Bernoulli Finance’s engagement in support of mission-positive businesses would be incomplete if, from time to time, we did not address the larger goal of contributing to a more equitable and peaceful society. This feels particularly relevant in a time when racism, sexism, and homophobia seem to be having a ball sponsored by the most powerful in America. This piece is an attempt to use our core expertise – finding meaningful numbers and interpreting them simply – in the service truth in the public sphere.
The development of gourmet food halls represents one of the top current trends in the food industry. It is expected that by 2020 their number in North America will have multiplied four times from what it was in 2015. This trend reflects important changes in consumption preferences and habits. Millennials want healthy, artisan, and convenient meals, and they prefer eating in communal settings. Does this mean that setting up shop in a food hall is the right idea for every small food business?
The emergence of coworking spaces might be the most dramatic manifestation of the way our work culture is evolving. It was recently reported that shared workspaces have been growing at a yearly rate of 20% in global cities. But what exactly is the appeal of coworking? In this piece, we explore the demand side of the industry, and ask: Are businesses need more than just cheap office space?
Nuchas is on a mission to bring delicious foods from around the world to the palm of your hand. Started in 2010, the company now operates four retail locations in NYC and a growing wholesale division that delivers its hot-pockets to stores, airlines, and trains. The story of Nuchas is special because it touches base on many of The Workshop’s core topics: bringing values into business, growing a product company, introducing novel foods to a market, balancing retail and wholesale strategies, and making other tough decisions between different growth paths.
When was last time you signed a project that did not feel under-budgeted, under-staffed, or too rushed. If you are a consultant, I'm guessing your answer might range from "never" to "eons ago". This piece explores the underlying reasons why pricing a consulting service is such a tricky affair and what can be done about it.
2018 might be remembered as the year when cryptocurrencies became more than just an obscure field lead by anti-establishment geeks. We have witnessed the emergence of the first Bitcoin billionaires, BlackRock is investing in the industry, and Facebook has lifted its ban on the cryptocurrency ads. Is it time for your small business to start accepting cryptocurrency payments?