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Author: Michael Burdick

Michael Burdick

Recent Posts

A Thanksgiving Thank You from Paro

Nov 22, 2017 / by Michael Burdick

Dear friends of Paro,

Thanksgiving is the absolute best holiday for food: roasted turkey, creamed spinach, fresh-out-of-the-oven rolls, mashed potatoes... Even the cranberry sauce is amazing. (Mouth watering yet? Mine is.)  But, in anticipation of Thursday’s feast, I often forget to think about what I have to be thankful for, especially when it comes to the professional side of my life. I’ve learned a lot these last two years starting and leading Paro… things like: it is so important to celebrate small wins, to take a moment to acknowledge a colleague, or to pause and reflect.

So here it goes… my post-pause reflection.

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Tags: Values

2017 Tax Guide and Checklist for Businesses

Nov 16, 2017 / by Michael Burdick

Paro’s end-of-year tax guide and checklist provides a detailed account of every must-have item for your business this coming tax season, as well as an in-depth approach to what successful businesses have been doing year round to mitigate their tax liability come end-of-year. There are a variety of things you can be doing to prepare your business for tax season, and Paro's tax experts know how to find the solution that’s best for your company.

Download Paro's End-of-year Tax Guide and Checklist

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Tags: Taxes

Remote Work: Create the Optimal Setting in 4 Simple Moves

Oct 30, 2017 / by Michael Burdick

Remote work has been on the rise for several years, and the trend has shown no signs of slowing down.
 
While some industries don’t naturally mesh with remote work — healthcare, construction, and manufacturing generally require hands-on care — plenty of businesses can use remote workers for non-core functions like marketing, billing, legal, and bookkeeping. In truth, using remote workers for some of these duties could significantly lower costs.
 
Any business that doesn’t rely on face-to-face interactions with customers — and even a few that do — should definitely give telecommuting a try. But before you can fully embrace this remote work future, it’s important to keep a few elements in mind.
 
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From Blue to White: The Gig Economy's Incredible Transformation

Sep 26, 2017 / by Michael Burdick

Freelancers make up 35 percent of the total workforce, and some experts believe the gig economy will double again in four years. While the most visible movement has been on the blue-collar side of the equation, white-collar workers have started to bring their specialized skill sets to the freelance table. 

While marketplaces are still adjusting to this shift, business decision makers can take steps to get ahead of the white-collar mass migration.

Read the full article on Business.com here.

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Tags: Gig economy

Three Ways to Save Your Restaurant Through Better Bookkeeping

Sep 11, 2017 / by Michael Burdick

It’s hard not to wonder how many would-be chefs Rocco DiSpirito deterred from entering the restaurant business by famously declaring that nine out of 10 new eateries go out of business   within 12 months  of opening.

The celebrity chef’s claim was overblown, but the real numbers don't inspire much more confidence. Researchers at Ohio State University estimate that about 60 percent of restaurants undergo an ownership transition in their first year; 80 percent shut down   within five years.

Fortunately, failure is not a foregone conclusion. Chef and TV personality Robert Irvine told Business Insider that financial competency is one of the top factors separating success from failure in the restaurant world. Fiscal prudence and a bit of foresight can help restaurateurs get their finances in order and avoid the grim fate of going out of business.  Read the full article on Modern Restaurant Association here.
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Tags: Bookkeeping

Five Uncomfortable Truths About Defining Your Company Values

Aug 31, 2017 / by Michael Burdick

The values session started out great. Three-and-a-half hours later, we were exhausted, dehydrated and sweating profusely.

When we walked into the conference room at 2 p.m. on Friday, we were armed with enough fluorescent Post-It notes and rainbow sharpies to throw a first-grade grade birthday party. We were ready to talk values and get them on paper, then head out for an evening of team fun and a few beers. The mood was light, the team was smiling and our show-and-tell objects were in hand.

What went wrong?

Read the full article on Forbes here.

 

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Tags: Values

Drowning in Data? How Business Intelligence Can Help

Aug 29, 2017 / by Michael Burdick

Businesses have more data than ever before, but scads of statistics can be overwhelming without the right reporting tools.
 
Revenue systems can crunch invoices and cash flows, but they don’t pay attention to the factors behind the numbers. That’s fine, but business leaders cannot afford to ignore this vital information. Companies that are able to zero in on actionable insights and connect causes to effects will always be a few steps ahead of competitors.
 
Thankfully, they don’t have to do it alone. Business intelligence tools empower entrepreneurs to understand data in quicker cycles via reports and dashboards, allowing them to see what's happening in real time and adjust accordingly. 
 
 
 
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Tags: Analytics

The Accounting Industry's Death is Great News for Your Business

Aug 17, 2017 / by Michael Burdick

Change isn’t comfortable — especially when it comes to industries steeped in tradition, such as accounting. Whether they welcome the innovation or loathe the disruption, accounting firms are forced to adjust as their previously static sector grapples with major change.

We’re living during a watershed moment for accounting, which creates repercussions throughout the business world. It's the end of accounting as we know it, but entrepreneurs should feel fine. A new normal will rise from the ashes of the archaic industry, and this revival will lower costs and increase transparency for businesses in every sector.  Read the full article in Entrepreneur here.
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4 Strategies to Make Freelancers a Valued Part of Your Team

Aug 1, 2017 / by Michael Burdick

If the digitally spawned Postmates, Airbnb, and TaskRabbit have taught us anything, it’s that the global workforce is changing faster than Clark Kent in a phone booth. The gig economy has led to numerous shifts in the business world, with workers embracing freelance opportunities en masse.

Workers have embraced the newfound independence that freelance work allows, and employers have realized that they don’t always need to recruit full-time staff. This is particularly true for growing businesses or industries that see a surge of demand at various times of the year. Freelance workers and companies stand to reap tremendous rewards if they’re able to develop and execute these partnerships.  Read the full article on HuffPost here.
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Accounting Is Flawed, and Financial Disruptors Are Licking Their Chops

Jul 31, 2017 / by Michael Burdick

The world has changed since the 1950s, but you wouldn’t know it by the processes of a typical accounting firm. Most cling happily to antiquated operating procedures, with barely an acknowledgment of the shifting sands of a cultural, social, and workplace revolution brought about, in part, by a wave of top Millennial talent.

Like them, love them, or loathe them, Millennials are a force to be reckoned with, especially for sectors not prepared for disruption — like accounting.

Millennials and their truly unique perspectives on what work is, should be, and will be are providing a wake-up call across all trades. Those in the accounting and finance worlds would be wise to listen and learn the Millennial mindset.  Read the full article, published by the Observer, here.
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