workflow

3 systems to start this spring!

3 systems to start this spring!

Spring is one of the most energetically charged seasons! There’s a lot of movement going on, for entrepreneurs, and outside in nature. Everyone is coming out of hibernation and gearing up for a fresh new look both inside and outside the home. It’s no surprise then, that the business line is ringing more than usual and you are already feeling a bit behind. Now is the perfect time to get a hold of some good work-flow and internal systems to help aid you in the kick-off season! Here are 3 important systems you can use to do just that! QuickBooks Online – With QBO software you’ll never have to guess how much money you actually have in the bank. This powerful tool allows you to create financial reports, keep an eye on expenses and analyze overall profitability. …but only if you keep it orderly. It isn’t enough to have the software. Like everything else, it must be maintained for you to fully realize its value. 2. Profit First – A cash management methodology utilizing bank balance accounting, created and proven by Mike Michalowicz. Using this method allows business owners to put their “Profit First”, while still driving revenue. The great Continue Reading »

Spring Cleaning – Habits & Impulse Buying

Spring Cleaning – Habits & Impulse Buying

Except for the cleaning part, spring is pretty great. More flowers. More wildlife sightings. Fresh air. More cash in the bank and April showers bring May flowers! Life feels pretty good beyond the stagnant winter months, as cash gets flowing again. Boy! Wouldn’t it be great if every day were spring! Knowing the off-season will eventually come back around, I encourage you to take this opportunity to do the spring cleaning that often gets overlooked: Dust off the good money management habits Impulse buying is for the birds Clean out the junk drawer of seasonal debt Just as you would dust a shelf, throw out old rubbish, or organize your supply locker, now’s the time to spring clean your habits and impulses around money. Be deliberate and discerning about expenses and how you may stretch the dollar while more dollars are coming in. Having a “rainy day fund” is not just an old adage. Plan ahead and implement now while things are looking up. Here are a few tips to get you started: Follow a strict budget for each job you’re managing. Run weekly reports “budget vs actual” to stay on track with profit Set a financial goal for the Continue Reading »

Make your company run like ‘Clockwork’

Make your company run like ‘Clockwork’

Setting up any business system can be a challenge. They range anywhere from organizing employee’s job assignments effectively to creating cash flow projections. Handbooks and guides on how to do all this are plentiful, but if you’ve heard about Mike Michalowicz’s entrepreneurial journey, you’d know that his organizational techniques are more than just a little effective. Take a look at Mike’s tips on balancing four ways you can better streamline workflow and the overall health of your company. ‘The 4D Mix’ – These are known as the four different stages of a business’s activities: Doing, Deciding, Delegating and Designing. Whether there are a number of employees or it’s just a single owner of a company, the four D’s are constantly happening to keep things moving forward. The problem is, there isn’t a good balance between these actions and many people get stuck between the “Doing” and “Deciding” of things. Learn the true differences in the 4D Mix so you can experience a higher success rate when running your business. Doing – This is the act of actually getting a product to a client or servicing customers. Whether it’s planting and shaping a few wisteria saplings, or building unique birdhouses, this “doing” Continue Reading »

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 an instrument, speak a different language, learn to dance, or book a fancy vacation – 9 times out of 10 you would seek the help or guidance of a professional in the particular area of interest. The same is true for a small business. As a new/existing business owner, why wouldn’t you want to look for a mentor to help you grow? As an accountant, we like to think of ourselves as a coach or “money partner” to your business. We also enjoy watching young entrepreneurs evolve.The most important thing you can do when it comes to your business finances is Continue Reading »