One bit of information every business owner and start up should know is there break-even point. The break-even point is the juncture at which revenue is equal to expenses. This information helps business owners understand the number of units they need to sell in order to cover expenses. In the example above we arrive at the break even point by dividing the total fixed expenses of $1,000 by the per unit price which is $20. The result of 50 represents the number of units which need to be sold in order to break even.
An Excel dashboard is a tool used to quickly communicate the performance towards a desired goal. An Excel dashboard is very similar to the dashboard available on a car. A car dashboard quickly communicates the speed, direction and health of a vehicle just to name a few. Automated dashboards are used frequently to save time on complex or redundant tasks. The following is a demo of a macro-enabled dashboard.
Business owners are always looking for opportunities for new clients. The government can be great clients for many small businesses but planning is needed. We came across publicly available data, digested in Excel to show you what agencies plan on spending in 2014. Data leads to knowledge. How will you use this knowledge?