accounting

Three Business Reports for more Control

Three Business Reports for more Control

A great business needs great financial organization. Why? Because those who “wing it” when dealing with things like revenue and expenses, eventually find themselves in a downward money spiral—that is really hard to get out of. Any serious landscaper or interior designer will tell you to properly measure the ratios of products you’re using, in order to get the most out of them. Otherwise, it’s just money down the drain. Know where your money is going, how often and why. For instance, when you have a clear understanding of your cost of goods for the month, you will be ableRead more

Startups with Financial Discipline will Thrive

Startups with Financial Discipline will Thrive

A room full of entrepreneurs will agree, that sometimes all it takes is a really good business idea, and everything else just falls into place. However, most of the time, the idea has to be worked and re-worked in order to turn into a well-calculated risk! Growing a business happens in stages. Like a sapling freshly planted in the ground, a new business requires a lot of attention before it is financially self-sufficient or stable. The story of the entrepreneur losing financial ground in its first or second year is a reality that may be construed as apathetic ownership orRead more

Are you a Profit First beginner?

The great thing about using the Profit First method, is once you start it’s easy to continue. Even if you got interrupted in the process, or somehow got off course, you can always pick up right where you left off. Because Profit First isn’t consumed with complicated accounting jargon and instead focuses on the business owner’s money habits and attitudes, the concepts remain easy and always available to implement. While everybody has setbacks, the Profit First methods do require follow through if one is to fully benefit, however. Following up with our blog Become profitable in the simplest way (starting simplyRead more

Should Your Small Business Hire an Accountant?

Should Your Small Business Hire an Accountant?

Whether you’ve played baseball, football, basketball or soccer, odds are you signed up to play on a team. This team consisted of a Coach. The coach would observe your abilities during practice or try outs and then make a sound decision on what position you should play — recognizing your strengths. At practice the coach would also identify areas you needed to improve upon, to become a better player on the team. The goal of the Coach is to see the team work together and enhance their skills, ultimately to succeed. When you are interested in learning to play anRead more

A Landscaper’s Costs and Profits

A Landscaper’s Costs and Profits

Some landscapers feel they have a knack for estimating any kind of job. Whether it includes extra bricklaying, trimming shrubs, driveway repairs or simple flower plantings—they usually have a good idea of what it will cost and what the profits will be. In short, they are confident in their industry and how it works. That’s a good thing. It also means, unfortunately, that it can be easy to become more passive or inattentive to job profitability. There are numerous variables that will eventually decide what a business owner’s future will look like, from 3 months down the road to 1Read more

Start Becoming Profitable Today

Start Becoming Profitable Today

If you’re like many business owners, you may be having difficulty being profitable on a continual basis. Especially with seasonal businesses, the ups and downs can be maddening. It’s almost impossible to imagine having consistent money flow. You’re not alone. One of the best systems you can implement in your business is Profit First®, a process for managing money that addresses cash flow issues. You might think that it’s a complicated system to set up, and that you’ll wait until the time is right to begin. But, the good news is, you can do something today. Yes, today! It’s easierRead more

It’s Time to Outsource

Savvy business owners know there are good times and bad times to outsource. There are aspects to every business that are critical to manage internally, and there are necessary functions that can be done more effectively and efficiently by finding the right outsourced provider. Generally, outsourcing should be considered in either of the following two cases: 1) when greater efficiency can be achieved externally; or 2) when specific expertise is required that cannot reasonably be created internally. For many small businesses, accounting fits not one, but both of these criteria. Most small business owners are better off focusing on makingRead more