Do You Know the Lifetime Value of Your Client?
How much is the average client worth to your business? Not just per project or even per year, but for the lifetime of your business. Calculating the lifetime value of a client is an eye-opening...
View ArticleTwelve Low-Cost Employee Perks for Fun & High Performance
It’s always a good idea to help employees stay motivated, and there are many things you can do besides the traditional cash bonus. Here are twelve ideas that cost little yet go a long way with...
View ArticleLife Beyond the Profit & Loss Statement – Do You Know Your Lifestyle Ratios?
Each month, you may anxiously await the reports that provide the numbers that help you manage your business. Revenue, net income, total expenses, and payroll costs are just a few of the items that you...
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Maintain Balanced Inventory Levels with Quickbooks Reports
QuickBooks Reports Help You Maintain Balanced Inventory Levels Running out of products too frequently? Having to sell cheap because inventory is overloaded? Use QuickBooks’ reports. It seems so...
View ArticleAre You Vulnerable to Fraud?
According to the Association of Certified Fraud Examiners (ACFE), over $3.5 trillion is projected to be lost to fraud worldwide in 2011 alone. The typical organization loses 5 percent of its revenues...
View ArticleCompliance Checklist: Seven Items You May Have Forgotten
Running a business is filled with regulations everywhere you turn. These can drain precious time away from the core of your business, but if you ignore them, there could be huge financial consequences...
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Are you defining Items in QuickBooks Correctly?
Are You Defining Items In QuickBooks Correctly? Create item records in QuickBooks carefully, and QuickBooks will return the favor by running useful, accurate reports. Figure 1: Clearly-defined items...
View ArticleFive Places to Find More Profits
It’s always a good idea to be on the lookout for ways to increase your profits, and luckily, there are many ways to do that. One way is to focus on cost-cutting, and here are five places that are good...
View ArticleFive Ways to Protect your Cash
As entrepreneurs, we work hard for our money, and the last thing we need is to have it disappear due to fraud, hackers, or identity theft. Some people have called 2013 the year of the hacker, which is...
View ArticleSeven Strategies to Put the Spring into Your Sales
Spring is here and that’s the perfect time to try something new in your business to make things fresh. Here are seven ideas to try in your business; pick the one that’s most likely to put the spring...
View ArticleFive Cash Leaks to Avoid
Cash flow improvement is a hot issue for small businesses; in many businesses, it seems like there is never enough cash when you need it. The last thing a business owner wants is to reduce their cash...
View ArticleBudgeting Breakthrough
When you hear the word “budget,” what do you think about? Most people would say something similar to “Ugghh!” If you would rather do just about anything besides create a budget, you’re not alone. The...
View ArticleWhat Does Popeye Have to Do with Accounting?
You might have heard the terms “cash basis accounting” or “accrual accounting.” Your net income number can change depending on which method your books are set up for. Here’s a simple explanation of...
View ArticleFive Ways to Rev Up Your Referrals
In the vast majority of industries, referrals are the most cost-effective way to gain new clients and grow your business. When you attract new clients through referrals, your marketing costs are...
View ArticleDo You Know Your Small Business Vitals?
On a doctor’s visit, the first thing the nurse does is take your vitals: your temperature, blood pressure, pulse rate, and respiration rate. These basic measurements are the first place doctors look...
View ArticleFive Fall Projects to Refresh Your Financial Results
As we move into the fall season and the final quarter of the year, it’s a perfect time to commit to a project in your business that will help you reach the year’s end in better shape. Here are five...
View ArticleAvoid the Three Biggest Sales Mistakes and Close More Business
Every sales lead is precious. It takes a lot to get people’s attention these days, and once a lead or prospect comes in your door, you’ve accomplished that hurdle, but now you have another one: getting...
View ArticleOptimize Your Revenue Mix for More Profits in 2014
Many small business owners focus on generating more revenue every year, and that’s a great objective. But not all revenue is created equally. If you sell more than one product or service in your...
View ArticleIs Your Business Using the Right Accounting System?
Have you ever tried on a shirt or jeans and found they didn’t fit at all? They looked great on the hangar, but that was the end of it. Accounting systems come in all sizes, shapes, and colors just...
View ArticleHow Understanding Assets vs. Expenses Can Make You Rich
Assets and expenses both have a “debit” balance on the financial statements, but that’s where their similarities end. Spending on one can make you rich and spending too much on the other can leave you...
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