You’ve heard it before – CASH IS KING! It’s the driving force in every business. If not managed properly, you will be unable to avoid a liquid financial crisis. Cash flow management, while essential for all businesses, is a fundamental pillar specifically for small businesses. Not managing it properly can be detrimental and lead to…
I recently did some random surveys, where I asked people questions about budgeting. Budgeting is a necessary evil but no one wants to do it and I couldn’t figure out why? Because it’s a very simple process. I even shared some simple steps in my post titled How To Create a Budget in 3 Easy…
Growing a business takes lots of planning and preparation before it will prosper. Often times business owners try to build a business without any planning or preparation. But it just won’t work. Planning is defined as a list, summary or outline of tasks to be completed in order to reach a goal, task or accomplishment.…
WHEW! Tax season is over! *cue angels singing* For 15 years I prepared tax returns and one of the most important things I took away was the importance of tax planning for small business owners. As much as we all hate, yes hate, paying taxes we have to do it. We can’t get around it. …
Planning a major event, vacation or making a major purchase takes a lot of planning. And so does creating a new product or service or starting a major project. And the first thing people do for each of these tasks is create a budget, right? So why is it that when it’s time to start…
To own and operate a business means being involved in every aspect of that business. As the owner you are the COO and the CEO. You must understand how the front office, or operations of the business, run and the back office. You don’t necessarily need to work in the back office but you need…
As an entrepreneur, our brains are constantly churning. Constantly coming up with ideas on how we can help EVERYONE. Now as great a thing as this may be, it is also not such a great thing. Because it is these ideas that lead us to make mistakes that cause our businesses to fail. Mistakes that…
By trade I provide accounting services. However, by design I provide financial management services. Are they the same or different? Let’s define. Accounting services is pretty straight forward. It includes bookkeeping, financial analysis and often time’s taxes are included in this category as well. The services are provided using the application of general accepted accounting…
Over the past couple of weeks we talked about setting SMART goals and about reflecting on all of our accomplishments in 2012. Well now it’s time to start checking off those goals for 2013. So to help, I have created a 3 step system to gaining financial control that is sure to guide you. 1.…
So I was sitting down creating a document that described the different ways my clients could embrace virtual accounting, when it hit me. I should write a blog about. (cue angels singing). When I set out to write these blogs by goal was to write a minimum of one a week. Well things haven’t been…
