As a business owner, I know that profit can be somewhat a philosophical discussion. If you’re like some of the business owners I talk and work with, the profit you show at the end of the year often doesn’t correlate with the amount of cash the businesses generated for your pocket. Jim Culhane of Quality […]
What is Your Profit Formula? Read More »
Small business owners hate reviewing their financial statements. A combination of it being a reality check and the general disdain for numbers give owners heartburn at even the thought of reviewing an income statement. Small business owners generally don’t have an interest in accounting (only us weirdos do). Besides, most business owners know exactly where
The Business Owners Guide to Analyzing Your Small Business Income Statement Read More »
Tom and Alexis Leonard had dreams to be entrepreneurs. However, like most people, they were stuck at a point in life where they needed to live off of both of their incomes. Tom was an engineer whose job had little flexibility. Alexis worked from home as a sales rep for a wine distributor. After the
Big Ideas for Small Business – Budgeting for Profit Read More »
In my opinion, there may be no other area that small business owners are missing out then integrating their accounting and marketing. The wealth of information that accounting data can provide to small business marketing efforts can help save money and be more effective. I know there are a lot of jokes out there….mixing accounting
I talk with many business owners who tell me their goal is to increase their revenue by X% next year. “Great, how are you going to do that?” is usually my response. Many of these owners haven’t really thought through a solid plan to increase their revenue. The response is often a new marketing method
4 Ways to Drive Revenue Growth Read More »
I always dread admitting that I should have paid more attention in economics class in college. Of course, it didn’t help that it was a 7:30 AM class (on Friday’s no less). It is amazing how much in the world equates down to the simple concept of supply and demand. Business owners of all sorts
Accounting Insight and Business Transition Planning Read More »
The internet is not short on many things and Warren Buffett quotes are one of them. There is one specific quote that Buffett said that accountants and financial professionals love to use. Accounting is the language of business Warren Buffett BAM! Us accountants have been telling you how important we are for years and now
The Accountants Legacy Read More »
Most small businesses I know are always trying to attract great people, but can’t necessarily offer the same “perks” as larger companies. This puts them in the tough position of trying to attract these great people however needing to be creative in the offerings they have. The good news is perks and pay are not
Accounting + Employees: 4 Benefits to Offer Employees Without Breaking the Bank Read More »
Wouldn’t it be great if you could get a sheet of paper each week or month that tells you at a high level how the four most important aspects of your business were going? Most small businesses don’t have regular scorecard reporting they use to run their business. This is a shame because just a
Big Ideas for Small Business: 4 Examples of KPIs for Your Scorecards Read More »
Too many small business owners are losing out by not using some of the data they have readily available. I am always surprised at how many small businesses are missing huge opportunities to learn about their customers from accounting, finance, and other data they have readily available. While small businesses certainly don’t have the amount
Big Ideas for Small Businesses: 3 Ways Small Businesses Can Use Big Data Read More »
