Every day I read an article, or come across a post about the importance of financial literacy as an individual. But what about as a business owner? Can the same tips apply to business owners? I would like to think so. It just requires different thinking. Some key things to focus on when talking about…
Managing cash flow is THE MOST IMPORTANT aspect of running a business, in my opinion. You need cash to flow into your business so you can pay the costs associated with running your business. It touches almost every part of your business. That’s why cash is king. It rules everything. And managing it can be…
At the end of every year business owners all over America look at their profit and loss and see how their businesses performed. At first they only look at three numbers – gross revenue, gross profit and net profit. After that they dig into the meat and potatoes of how those numbers were calculated. The…
More times than not people think of budgets for personal or business use – and at the high level. And maybe even an event. But we often don’t think about budgeting for other things that may need to be individually managed in our business. Most budgets refer only to the cost or expense but there…
Maintaining a business is the point in your business right before you THRIVE! It’s the point when the way you operate your business starts to take that upward tick. Maintaining a thriving business takes skill, tenacity, passion and drive. You’ve heard the saying when the going gets tough the tough gets going. This is that…
Last week we talked about creating a business and five key steps on how to do just that. This week we are going to talk about building a business. The focus here is about laying the foundation for your business. Making sure that you have four solid legs to stand on, if you will. See,…
Creating a business takes a lot of planning and preparation. You can’t just wake up and say “Today I am going to start a business” and poof there it is. Well you can but 9 times out of 10 it will flop before you can say “What happened?”. Did you know that 80% of businesses…
Getting your financial house in order takes a lot of work. It takes a lot of focus and understanding to get everything organized in a manner that will help you understand how your business performed during the year. It’s not the easiest thing to do but it’s also not the hardest. If you put your…
Smart enterprise owners may use business budgeting software to ensure they are maximizing their available capital, while also having enough money to pay fixed expenses such as monthly bills, payroll and rent. However, there are always ways to create cash within a company, allowing the firm to experience growth faster than originally thought. Here are some cash…
Payroll services are an intrinsic part of any business as they provide clients with fast, efficient service and regular communication. In our experience, we’ve discovered five important ways to optimize payroll services, both to better the service we offer to clients and simplify the payroll process for the members of our team. Flexibility While most…
