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Author Archives: Sherrell T Martin

3 Reasons You Need Contracts in Your Small Business

Business ManagementBy Sherrell T MartinSeptember 10, 2013Leave a comment

Running a business takes more than just skills and talents.  It takes a ton of systems to help keep your business running like a well oiled machine.  You need systems for you accounting department, of course; systems for your administrative details; systems for your operations and systems for marketing. One of the most important systems…

SWOT analysis

How To Use SWOT to Grow Your Business

Business ManagementBy Sherrell T MartinSeptember 3, 2013Leave a comment

Performing a SWOT analysis when you start creating or building your business is an important key to the success of your business.   A SWOT analysis is a strategic planning method that is typically used for any major decision making situation.  It consists of analyzing and determining what internal and external factors have both positive and…

GUEST BLOG: Adjusting Your Markup Based on the Job

Guest Blogs, Job CostingBy Sherrell T MartinAugust 27, 2013Leave a comment

Many contractors tell us they use a variable markup or margin to price their jobs. There is a widespread belief that using a variable pricing methodology works best. The mindset is that sometimes you have to adjust your price to get the job. It might be a widespread belief, but too often we’ve seen contractors…

I Don’t Feel Like Being Consistent

Business Management, MindsetBy Sherrell T MartinAugust 24, 2013Leave a comment

I almost didn’t right a blog this week.  Why you ask?  Well if I can be real – I didn’t feel like it.  It’s the first week of school, I had to do my blog, my video & my ezine, I had to prepare for my last a business development class early next week, I…

GUEST BLOG: How to Prep Now For Next Year’s Taxes

Guest Blogs, Software SolutionsBy Sherrell T MartinAugust 20, 2013Leave a comment

Have you spent the last four months pouring over spreadsheets and trying to track down missing receipts?  Did you vow that you’ll be more prepared for tax time? It’s not too late to start! Handling your business books may be the last thing that you want to do, but procrastination will only make it worse.…

5 Financial Tips for Business Owners

Financial ManagementBy Sherrell T MartinAugust 13, 2013Leave a comment

As a business owner, it is key that you understand the financials in your business and what they say about your business.  But so many business owners really don’t have a clue.  I’m sorry if that sounds mean but it’s true. There is more to running a business than making deposits and paying expenses.  You…

Can You Pay Me Out of Petty Cash?

Financial ManagementBy Sherrell T MartinAugust 6, 2013Leave a comment

Petty cash funds are funds that are kept on hand at your business office and is used to reimburse employees for small expenses.  Sometime it is misused as if it were an extra bank account.  Keeping track of petty cash is a key control for small business owners.  Failure to do so will leave your…

Cash vs Accrual: Which one should you use?

Financial ManagementBy Sherrell T MartinJuly 23, 2013Leave a comment

There are two basic forms of accounting that should be used to track your revenues and expenses – cash basis and accrual basis.  Cash basis means that you recognize the income when you receive it and you recognize expenses when you actually pay them.  Accrual basis means that you recognize income when you have the…

Is your job profitable

Are Your Projects Profitable?

Financial Management, ProfitabilityBy Sherrell T MartinJuly 17, 2013Leave a comment

When most people think of job costing they think of construction businesses.  But you can us job costing in any business that has multiple streams of income that are significant to that businesses bottom line.  Job costing is all about assigning the proper costs to individual project or jobs, to help determine its profitability.  In…

How to Create A Business Plan in 6 Easy Steps

Business ManagementBy Sherrell T MartinJuly 9, 2013Leave a comment

A business plan is no easy task.  It is the most important document a small business owner should have and the one that most small business owners don’t have.  A traditional business plan is minimally 20 pages long and can takes months to prepare.  And that’s why most SBOs don’t create one. But what if…

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