Topic: Running Your Business
We all know about personal New Year’s resolutions. Go to the gym three times a week. Quit or cut back on smoking or drinking. Carve out more quality time for the family.
January is also an ideal time to implement new procedures and strategies to enhance and streamline your business operations in ways that will benefit the bottom line.Read More
It’s almost 2018. As you look back on the year, what promises did you make yourself, your employees, and your customers?
- We’re finally going to track all our top metrics monthly.
- We are going to look at our budget more than once a year.
- I’m going to change sales incentives to better align with our target customers.
- We are going to surprise and delight our customers this year.
- We will re-evaluate all our marketing spend.
These are only a small fraction of the long list of things founders and managers are hoping for at the start of a new year. If you did in fact tackle all your 2017 resolutions, we are impressed. Most don’t.
Whether you’re a multi-million dollar company or solopreneur, we hear the same woes and challenges year after year. Time and money… Money and time. Like a broken record.Read More
We embrace the convenience and freedom of doing business in the cloud. This also comes with real security risks for every device connected to the internet. According to Darren Holtz, FBI Special Agent with the Cyber Security Division, safety is a journey—not a destination. This article will explain straightforward means of traveling safely and the most important security aspects to consider. So, buckle up and let's get to it!Read More
You have a great idea, and you are so sure it will succeed that you decide to move ahead with a business plan, a prototype, and funding – the whole shebang!
Two of these steps are within your control: you can write a business plan, and you can plow ahead with a first prototype. Funding, on the other hand, can be a very elusive piece to the puzzle.
Take courage, however, because numerous funding opportunities do exist: bank loans, venture capital, crowd funding, family and friends, and bootstrapping.
Today, we’re going to deal with bootstrapping, that “dig-deep, do-it-yourself” funding option.Read More
Few business owners launch a new venture for the pleasure of doing paperwork or keeping their accounts up-to-date and tax records in order. But the reality of owning a business is that much of your time will be spent servicing the company rather than your customers. As the business grows, so will the paperwork burden. Once you find yourself up to your elbows in receipts, cash flow reports, and spreadsheets, it’s time to think about getting some help.Read More
Welcome to Part 4 of our “Does my business need…” series, where we break through financial gobbledigook to help you figure out your business’s needs. Jargon out, simplicity in.Read More
You've made it to Part 3 of our “Does my business need…” series, where we break through financial gobbledigook to help you figure out your business’s needs. Jargon out, simplicity in.
What does a financial analyst do?
The role of a financial analyst is to help steer the company down the most profitable path. To accomplish this, an analyst craft budgets and forecasts that set the financial targets for the given period of time (yearly, quarterly, monthly). In addition, analysts assist management in making investment decisions by performing analysis based on return on investment (ROI), net present value (NPV), and discounted cash flows (DCF), or other methods.Read More
Welcome to Part 2 of our “Does my business need…” series, where we break through financial gobbledigook to help you figure out your business’s needs. Jargon out, simplicity in.
What does an accountant do?
An accountant digests and presents the information that a bookkeeper enters into the accounting system. Their role is less transactional than a bookkeeper’s and more interpretive. Accountants help management make business decisions; they compile financial statements like income statements, balance sheets, and cash flows; assist with tax returns; and enter more complex journal entries (deferred revenue, accrued expenses, etc). While a bookkeeper generates data, an accountant helps you understand and turn that data into action.Read More
Welcome to Part 1 of our “Does My Business Need…” series, where we break through financial gobbledigook to help you figure out your business’s needs. Jargon out, simplicity in.
What does a bookkeeper do?
The role of a bookkeeper is to enter, categorize, review, and reconcile transactions in a company's accounting system. Having sales and expense data properly categorized enables business owners to see where they are spending and making money.
Historically, a bookkeeper would receive a list of entries or transactions in the form of receipts, emails, bank statements, credit card statements, invoices, loan documents, etc. and assign them to different accounts based on the type of transaction. While this is still common practice, it doesn’t have to be.Read More