There are a lot of deadlines that come with running a business. In fact, missing some deadlines can have serious financial implications …
Word of the Year: Pricing
It’s simple. Companies are in business to make money. They do this by: providing a service; producing a product. Many companies struggle …
Ways to Ring in 2018
The New Year is just around the corner, and while many businesses may be scurrying to wrap up the books for end-of-year, …
Top 5 Financial Mistakes in Manufacturing – Tips for All Businesses
By Kurt Dyck, CFO & Business Advisor Lucrum Consulting The average small business manufacturing company produces anywhere from dozens to hundreds of …
Get Ahead on Year-End Tasks
Year-end is just around the corner, and that means a couple of administrative tasks are necessary to take care of bookkeeping and …
Financial Due Diligence Steps to Take When Purchasing a Business
Buying a business is no simple task. It’s a complex undertaking that includes a multi-step due diligence process to ensure the investment …
Five Ways to Streamline Your Payroll Process
For business owners with employees, payroll is a necessary task that can often takes a lot of time. To make payroll less …
How performance measurement drives business success
All businesses strive to be profitable. However, achieving success can be difficult, especially with multiple lines of business. Selling a high-margin product …
Why Businesses Should Consider Outsourcing Bookkeeping
Bookkeeping is the process of recording all financial transactions within a business and is required in every business regardless of size. It …
Four Ways to Manage Overhead Costs
High overhead can strangle the profit out of a business. Companies that struggle to control their unseen, hidden costs such as rent, …
How to Prevent Past Due Accounts
Anytime a businesses performs a service or ships a product before getting paid, an Account Receivable is created. If customers pay before …
8 Ways to Increase Profits
Increasing profits might sound like an unattainable dream, but in reality, there are a finite number of ways that businesses can increase …
When is a loan for business growth a good idea?
Like raising a child, there’s no set manual that comes with owning your own business. Even the best entrepreneurs struggle with making …
Five Numbers for a Mid-Year Financial Check-Up
June is a perfect time to take a look at company numbers year-to-date. There’s enough to time elapsed to get an accurate …
How to Develop a Successful Onboarding Process
“Getting off on the right foot” is important for both employer and new hires. Those first days and weeks of a new …
Hiring the Right Team for Business Success
The best business plan, accounting system and products are key components for every business. But the true driver of success is the …
What To Know About Hiring Interns
Internships are often a benefit for both employer and intern. Interns get real-world experience and employers get extra help and an opportunity …
Four Payment Policies that Keep Companies in the Black
Business owners know that the battle for profitability is won or lost in details. For example, how companies handle accounts receivable affects …
Costner Law: A Case Study in Managing Growth and Maintaining Balance
Working for a real estate lawyer one summer during college set Josh Costner on his career path. He began his firm in …
9 Hidden Costs That Impact Small Business Expense Budgets
The last thing every business owner wants is wasteful spending or missed opportunities. One of the worst culprits are hidden expenses that creep in and reduce profitability. This month, we expose hidden costs so that you can find them and restore your hard-earned profits.
When Is It Time for a New Accounting System?
Struggles with an accounting system may be a sign that it’s time for something new. Growing companies may quickly outpace an original …