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
Bernoulli Finance Founder and Principal, Anjali Oberoi, is joining the board of directors of the Third Millennium Alliance (TMA). TMA is a grassroots nonprofit foundation, which brings together a group passionate environmentalists around the goal to build and protect wilderness areas in Ecuador.
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.
Bernoulli Finance is hiring for a full-time bookkeeper/admin assistant position. If you are an inquisitive, organized mind with bookkeeping experience and interest in joining a mission driven entrepreneurial team of consultants, this post is for you.
If you’ve been following cannabis news, you’ve noticed that the happy-go-lucky mood of 2018 is now dead and buried. Today, those reporting on the industry are more likely to balance any optimism with a sense of caution and introspection. Is that bad omen for cannabis entrepreneurs?
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?
How do you recognize a real solid business opportunity? If you are familiar with the pace of entrepreneurship, you know that there is rarely time or money to conduct due diligence on every idea that presents itself to you. There are however simple schemes to sort the bad from the better ones.
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.
Bookkeepers are a bit like babysitters. No really, hear us out. While there are few barriers to entry into those professions - no degrees, no certifications, and minimal experience required - the skills needed to be a high performer are rare.
On June 21, 2018 Supreme Court ruled that all online sales must be taxed, even if they are being sent outside of the seller’s state. Does this mean small online retailers are condemned to death by a million sales tax filings? Not necessarily.
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?
You’ve done your homework, you’ve paid web developers and graphic designers to make you a website, you tinkered with the settings on the CMS site and wrote customer service SOP’s. Now you are a proud owner of your own working e-commerce site. What else? How about joining an online marketplace and getting in front of a lot more people! Here are some of the What, where, who, when and how’s.
A recent USDA study concluded that out of every dollar spent on food in the US, only 7.8 cents goes to farmers. More worryingly, this figure has been on a downward slope for years, largely because of the continuous rise of prepared and convenience foods.
Does food innovation pay off? The domineering tech industry has gotten us all fixated on “innovating”, “disrupting”, and “going viral”. We tend to forget that consumer habits evolve differently across industries. In food, the broad adoption of new products is often a years-long process, which translates into major risks for the entrepreneur. In this piece, we explore those risks and how to build a winning strategy around food novelty.
Here's to the Balance Sheet! Often misunderstood, considered by many as the pariah of financial reports, yet oh so useful to the brave heart who takes the time to look beyond the surface at the wealth of information it carries. It is in the spirit of addressing this historical injustice that Bernoulli Finance put together a simple infographic that will tell you all you've been missing!
If you're running a consumer brand, you are probably already selling online, or thinking day and night how to launch your online channel. There is no simple playbook to the game. But let us take you through some of the most important things to consider before you jump into the virtual space.
Growing and expanding one's services while establishing core functions and building a solid business identity is a fine balancing act, which depends largely on having the right people strategy. Erica Taylor of TINSEL Experiential Design shares key insights on how TINSEL was able to navigate this challenging area of entrepreneurship.
Going cashless may seem like a no-brainer, regardless of whether you think AYE or NAY. But there is a lot more to it and it pays to do some research before deciding on the course of action for your business. We’ve done the research and here are just some of our findings.
In 2017, legal cannabis became the fastest growing industry in the US’s modern history, with a 25% increase in sales from 2016. And, the prospects for 2018 are looking even brighter, with California having just joined the group of now nine states that have legalized recreational cannabis. If you are an aspiring cannabis entrepreneur, this piece is for you. We’ve compiled a few thoughts that you might find useful as you prepare to jump into the weeds!
What a long and strange trip 2017 has been. And just before the year let out, the GOP-controlled Congress passed the Tax Cuts and Jobs Act. We’ve heard a lot about how this will impact households and multinationals. What about small businesses? We’ve dug a little deeper to find that out for you.
In 2016, Travel + Leisure magazine designated Beirut as the best international city for food, with a special mention to Tawlet, a farm to table operation created by Souk el Tayeb. During my last trip to the Middle East, I sat with Souk’s General Manager, Christine Codsi. This is not just a story of passion, dedication, and skill, but one that contains key lessons on shared leadership, business planning, and operational flexibility.