I am a firm believer in a couple of things. If you keep doing what you always do, you get the same results you always have. Life is too short to keep doing things that aren’t working. Your business and life changes constantly. I think now more than ever I struggle to [...]
One area where most small business owners can improve their cash flow is in billings and collections. A thorough credit check before you offer payment terms is not enough. Here are the six best practices that can make a real difference in your cash balance at the end of every month. 1. Get it [...]
If you are considering starting a business, the simplest and least expensive form of business is a sole proprietorship. A sole proprietorship is a one-person business that reports its income directly on the individual’s personal tax return (Form 1040) using a Schedule C. There is no need to file a separate tax return as is [...]
Recently, I attended a conference! Yes, another one….. There are a lot of smart people to learn from…. This conference was all about building confidence in networking, changing your mindset and too many other subjects to list. One of the breakout sessions I was able to be a part of was a master mind. [...]
So I normally wouldn’t buy into the whole gossip girl thing. I believe that if you focus on what you have to do, you know that it is your God-given direction and you are doing what you love, it does not matter what people say. That is a true statement and I agree with [...]
Budgeting and forecasting are two of the most important financial exercises performed by businesses, regardless of their size. Unfortunately, they are also two exercises that many businesses fail to perform accurately or efficiently. The biggest common problem is that most budgets and forecasts are created without any room for flexibility. Managers are told at [...]
When you hire your first employee, you create an entire new task of complying with employment and labor laws and issuing a payroll. Payroll taxes create more administrative burden for small businesses than any other tax, according to the 2015 Small Business Taxation Survey from the National Business Association. Plus, compliance with payroll [...]
Over the July 4th weekend my pool turned green. We never owned a home with a pool and so we were bummed to find out that our pool was full of algae. We were diligent home owners and had a pool man take care of it since it’s beginning. I knew the care for a [...]
If you are the owner of a small business, you are endlessly busy. Between keeping track of the day-to-day requirements and monitoring growth and profit, it’s easy to get overwhelmed and that means you might neglect important recordkeeping that will help you in the long term. Here are five helpful hints that will make [...]
When you hire outsourcers to complete tasks for you, it's not enough to simply tell them what you'd like them to do and let them get to it. You need to give them detailed specifications to ensure a high standard of quality. If you don't and the work comes back wrong, you only have yourself [...]