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 »
A recent study prepared by the Treasury Inspector General for Tax Administration (TIGTA), found that more than 2,000 small companies, either unaware of or confused by the small-corporation exemption from the Alternative Minimum Tax, may have overpaid their taxes by an average of $11,638. It is important to note, these are just companies that paid
Hey you, STOP OVERPAYING YOUR TAXES! Read More »
As businesses grow with time, bad habits begin to form. These bad habits take many forms…some will effect your customer service, some will effect your employees, and most all will effect your bottom line. For those of you that have ever purchased a business, you will know exactly what I mean. When you purchase a
3 Ways Small Business Owners Can Give Themselves a Raise Read More »
When I first purchased my small business, Monkey Bizness, I took a meeting with a small business strategist. I have to admit, I left the meeting and I turned to my Director of Marketing and asked: “Did you understand what that guy does for businesses?” It wasn’t that the meeting was fascinating and insightful (it
Finance + Strategy – What You Need to Know Read More »
If you have started a new business, then you have been through the “merchant provider bombardment”. From listening to them, you would think there are huge variations in different providers. However, with a couple of exceptions, they are mostly the same. In this article, we’ll go over what those couple exceptions are, how to do
Decoding Accounting – Merchant Services Read More »
Keeping your books in good order isn’t something a small business owner should do solely as a tax-savings strategy. It is true that small business owners miss billions of dollars of deductions each year due to messy books which often don’t include a complete detail of all expenses (yes, those $5 receipts you’re missing add
One Great Idea: Bookkeeping Read More »
If you are a service based small business, you more than likely can measure the utilization rate of your employees. At a basic level, utilization rate measures what percentage of your employees time is spent on work that is billable to a project or client. Your accounting of finance department should be able to track
Accounting + Utilization Rate For Your Small Business Read More »
Cash flow is vital to small businesses, more so than almost any other metric or measure. Working capital and positive operating cash flow are also areas where many small businesses struggle. In this article, we’ll take a somewhat simple concept and strategy called “cash gap” and explain how it can work for your business. The
Decoding Accounting – The Cash Gap Read More »
