Small businesses need the right financial advice to continue growing, yet are often at a disadvantage because many cannot afford a full-time Chief Financial Officer (CFO). If your business is one of them, perhaps a virtual CFO or vCFO could be useful instead. What does a virtual CFO do for your small business? Here is [...]
Accounting duties are viewed as a necessary evil by many businesses owners. In addition to being costly to tackle, accounting tasks are time-consuming. At times, it seems as if it is impossible to focus on the core aspects of your business because you are always trying to collect late payments or match an invoice to [...]
Business systems are changing and transitioning more and more into virtual cloud-based services, providing opportunity for streamlined workflow processes. Businesses in modern times are being challenged to meet rising customer expectations, influenced by the amazing reach and flexibility given with cloud and mobile computing – in the hands of nearly everyone in the developed [...]
#1. Follow up on Leads Hopefully you managed to gather contact information from all or most of your attendees. While the memory of your event is still fresh in everyone’s mind, make an effort to reach out to these people and find out if there is anything else you can do for them. Some [...]
If you run a start-up or are thinking about becoming an entrepreneur, you undoubtedly have thought about profit and loss statements and balance sheets. Those are important, and they are key to the financial success of any business. However, start-ups have unique financial statement needs. Start-ups need key performance indicators (KPI’s) to MEASURE whether their [...]
Any business is properly defined as the holistic sum of its parts: products, services, employees, partners, owners, location, systems, vendors, etc. The variables may vary in complexity, yet there's a universal structure within every business. Ultimately, generating profits from sales is the main goal, which is accomplished with effective business strategies. Let's look at [...]
Sitting in your pajamas, you can go over your previous day's sales as you down the first cup of coffee. Even as you groan, you know that you could be making more responsive changes to your business model. It would be much easier if you had the right accounting data on your side. You've been [...]
Step #1. Carefully Think About Which Financial Services You Will Need Before you begin your search, think about your financial needs first. Why do you need a CPA? What are your financial goals? Are you interested in working with someone who can offer long-term financial planning? Or do you want someone who can help [...]
If you're running a small business, you may have heard some buzz regarding cloud accounting. You're probably wondering what is cloud accounting, and why do I need it. According to Xero.com with cloud accounting, your accounting software is available on the Internet as opposed to being stored locally on your computer. Cloud accounting software [...]
Business owners are innately able to handle a modicum of complexity when it comes to the accounting and financial aspects of their businesses. If this isn't true, they likely won't be in business for long or are really good at delegation. Indeed, business-minded entrepreneurs and service professionals begin their business journey with some financial [...]