Keeping detailed accounting records for your business is important for many different reasons. For one, your books hold a wealth of information about the financial state of your business. You can learn a lot about your operations and make smart decisions by looking at the right data.
Accounting reports provide an overview of important financial information in an easy to understand format. There are different types of…Continue
When starting a new business, choosing your legal structure is one of the most important decisions you’ll have to make. The structure you choose will influence many areas of your business including your tax filing, your personal liability and your ability to receive funding. As a business owner, you can structure your business as a sole proprietorship, a partnership, an LLC, a S-Corporation, or a…Continue
Within ten years of starting, nearly 75% of small business will fail, so it’s easy to understand why small businesses cannot make expensive mistakes. Generally speaking, a lot of owners will have to shut the doors due to a lack of cash. A quarter of them will shut the door before the end of year one and close to 50% will leave the market before the end of…Continue
Added by Donna Reade on April 30, 2016 at 8:00am — No Comments
I received a great leadership tip several years ago, and it’s as relevant today as ever before. My supervisor at the time told me a story about a “train.” The story explained how every train (organization / company) has three types of passengers (workers): “coach passengers;” “drivers;” and…Continue
It does not matter whether you in the retail, service or consulting business, your company needs to find a way to manage its books. For some businesses, this means an in-house accountant or accounting department, depending on the company size. For others, it means finding a qualified bookkeeper to outsource the financial record management.
Does your business outsource its bookkeeping needs? Have you thought about it?…Continue
Added by Donna Reade on February 21, 2016 at 2:02pm — No Comments
Is this happening with you? This year I had three companies who did not send me 1099’s. This week I contacted all three. They all got back to me very quickly. Two of them are sending me the 1099’s so I can include the forms when I file. However, the third company while acknowledging that they paid me, is refusing to issue me a 1099. Fortunately I got that in an email so I can include that correspondence when I file. Even after…Continue
There are a lot of days when I don’t want to look at ANY numbers –
Do you have days like that? Hearing John Maxwell talk about the Rule of Five made me think about one number differently. His five changed my perspective, in fact, changed how I approach the day. I might not want to face any of the above…Continue
Finding, getting, and then keeping customers may be the three hardest jobs for any small, medium or large business.
If everyone agrees, I bet we can then say number four is managing cash. “What cash?” is not an appropriate come back. At least I hope it’s not.
Since managing cash is high on the list, I have worked many years on making this daunting task be as simple as possible through just a few simple hacks. These hacks are from real life examples with my own client base. And…Continue
For most business owners, getting paid quickly is critical. It can also be extremely difficult. We have all experienced the frustration of investing time, energy and funds into a client job only to be left spending more time which is your margin following up on collections!
Here are the things I…Continue
Accounting and Bookkeeping - A Crash Course
Okay, here it is, as painless as possible. Accounting and Bookkeeping are different.
I heard someone say, “Talking is easy. Doing is hard. But doing what you said you were going to do is harder still.”
Ain’t that the truth? People love to talk the walk. They love to tell you what they’re going to do rather than do what they actually said they would.
I’m sure you’ve known someone who told you that they were going to do something and then they didn’t do it. While they may have forgotten unintentionally, when someone doesn’t follow-through with what they say…Continue
The greatest worship leader I’ve ever known never sang a single note.
He led worship for literally thousands throughout his life. Yet, he didn’t do many of the things those of us who consider ourselves worship leaders today typically think of as essential to our roles.
Al Clifft was my college choir director. An equally humble and inspiring man, he knew his students all by name and invested in them personally. We all knew him as “Al” and when he passed away last…Continue
"Ten percent are great leaders; 80% are followers; 10% are bad leaders." So says Tim Lautzenheiser, affectionately called Dr. Tim by the music community. Dr. Tim founded Attitude Concepts for Today, an organization dedicated to developing student leadership in music ensembles.
He is the top name in music education, delivering keynotes and workshops across the country. I was privileged to interview him for my podcast, …Continue
Added by James Divine on September 24, 2015 at 7:05am — No Comments
Let’s say one of your employees was assigned a project to oversee. Overall they did a good job. Also, they had a couple of areas they needed to improve on.
You could say to the employee: “You did a good job, but you need to work on a couple of things.” Notice how we took them from good to…Continue
Added by Bob Wilson on August 25, 2015 at 10:00pm — No Comments
In response to a comment I received yesterday I put together this article about LinkedIn.
As a business owner, chances are you have heard of LinkedIn a number of times over the years. Over the past decade, in which the social media network has been active, it has amassed over 300 million users and is…
Added by Donna Reade on August 20, 2015 at 8:07am — No Comments
LinkedIn groups are by far the most powerful aspect of LinkedIn. Hands down. I have seen people become thought leaders in their niche all around a single LinkedIn group. I spend a lot of time in LinkedIn groups and have learned a bit about maximizing their potential as conversation-starters.
Click on the Picture to learn more…Continue
I made the same mistakes as many entrepreneurs when I started businesses in the past. Even though I was warned by mentors and I knew better, I still somehow let myself get too wrapped up in the details instead of growing my audience and client base. Today I work with entrepreneurs who have made it past the startup stage but somehow continue to…Continue
Sometimes you might even use it when you refer to yourself, too…
Frustrated … Frustrating
Frustration raises your blood pressure, interferes with the fun of being your own boss and saps your energy.
You do have the power to control some of that frustration – especially if it is connected with your leadership skills.
I want to share with you what I think are the three most frustrated/frustrating leadership personas. See if you see yourself – or, better yet, ask…Continue
When there are situations that require some creative or (dare I say) even logical thinking, I am often perplexed when I hear the words “Well that is what the computer says.”
Here is why software alone does not…Continue
The days of the barrel-chested bully pushing you into a purchase are over. The charmer without substance now loses more than they win. Potential clients are more aware, more strategic and more educated.
We all need to take a breath and embrace the humbling – perhaps even embarrassing – truth:
No one cares about what you are selling.
So here are some ways to…Continue