Even in today's digital age, many small business owners are still keeping records the old-fashioned way-with pencil and paper. Recording transactions by hand can be very time-consuming, which is why you may want to consider one of these 4 tools to automate your small business accounting. #1. Quickbooks Online Used by more than 1.5 [...]
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 [...]
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 [...]
When working in a business, the hiring process can be stressful for both parties. One on hand, you have the person who's going to be interviewed and (possibly) hired. First of all, it's important they prepare for any interview questions beforehand. Second, the potential employee also has to be sure he/she leaves a lasting impression on [...]
Everyone who starts a business needs to create a business plan within their first 90 days. A great business plan takes a simple framework and uses it to help you think through and communicate your desires for your business. The following list gives you a basic outline to follow for a business plan, as [...]
So you’ve finally managed to get up the courage to leave your job and start a small business. Congratulations. You’ve already done what so many people dream of doing. You’ve taken a leap of faith. You’ve conquered your fears about what may happen and you’ve tried to make your dreams come true. Now what? Unfortunately, [...]
Your company is there to earn money—not lose it. Even if you're not in the negative, it's possible that cash is slipping through your fingers without you realizing it. You don't notice the money leak because the problems that cause it aren't in your face. For example, if you have a rude employee, he/she [...]
Nowadays, there can be a lot of turnover in any organization. It’s hard to find employees who will stay with you for the long term. So when it’s time to hire a new employee, you might need to know the answers to a few questions first, such as whether having that employee as a part [...]
Data-driven decision management is the state of the art in business management. The most efficient businesses are run by owners and managers who make decisions based on the data that their businesses generate rather than based on hunches or ideas about why their business performs the way that it does. According to the MIT [...]