As the year comes to a close, it’s a great time to reflect on how your business performed throughout the year and start setting goals for the new year. One of the areas you should focus on is your financial … Read More
Stop using your bank balance to to manage your company’s cash flow! Yes, I’m talking to you. Your bank balance is not a useful tool to help you manage cash flow. It only tells you how much money you currently … Read More
I enjoy listening to podcasts. They’re a great mental distraction during a long run, driving to work, or during the workday. I love the new ideas, inspiration, and mental stimulation they provide. It’s also fascinating learning from other successful business … Read More
We are continually asked by small business owners, “When do I need to hire a bookkeeper?” Here are some tell-tale signs that it’s time to outsource your bookkeeping. 1. Your Books Are Behind Are you struggling to find the time … Read More
Let’s face it, I can give you 10 ways to improve your cash flow. However, then you would feel overwhelmed and and not know where to start. So instead, I’m going to simply give you 3 action steps you can … Read More
Let’s face it, no one is excited to hand over a portion of their earnings to Uncle Sam. However, it’s a duty that we all must face. Let’s talk about the dreaded quarterly estimated tax payments.
It’s easy! Take a look around. How can you recreate yourself, your business and your products? What can you do to reinvent yourself and your business? Don’t forget to keep it simple. Sometimes the best ideas are those that can be easily implemented but have the most impact on your customers. These new ideas can help boost your profits!
Lowering expenses can be a good thing, if you’re cutting out non-value added extras. On the flip side, cutting costs can be detrimental to your business. I know, you think I’m crazy. Right? Think about it for a minute. Your business is successful because you offer a product or service that others value and want to purchase. Your customers have come to expect a certain standard from you and expect your product and/or service to meet or exceed this standard. Sadly, cutting costs can have a negative affect on your customers.
The break even point (BEP) is the point when your revenues are equal to your costs. When this point is reached, there are no gains or losses, you break even. Keep in mind, this point is reached during the normal course of business – your company has sold some products/services and your business has incurred some expenses.