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.
10 Ways to Save Time on Accounting
Small business accounting can be quite time-consuming, regardless of whose job it is to receive bills, pay bills, send invoices, and keep …
Profit: Word of the Year for 2017
Instead of making a New Year resolution, think of a word to define the year ahead. Common answers are “efficiency,” “growth,” “caution,” …
Budgeting Essentials in 8 Steps
Accurate budgeting, expense tracking, and efficient reporting of this data are always important to business success. A good accounting system must provide …
How to Weather Unforeseen Events
Properly balancing strategic and tactical matters is always difficult when managing a smaller business. Generally, the tactical matters – the day-to-day running …
How to Do a Cost-Benefit Analysis for Important Decisions
Making decisions that affect a company’s financial position or require significant investment demands a thorough evaluation. A cost-benefit analysis (CBA) details potential …
A Business Owner’s Toolbox, Part I: The Decision Matrix
Just as wise decisions can make a business, poor decisions can break it. Unfortunately, many business owners commit financial resources without properly …
7 Secret Weapons for Cash Flow
Cash flow is an occasional skirmish for some companies; for others, it’s an ongoing war. Results from a Federal Reserve Bank report …
Your CPA Isn’t Your CFO
“I have a CPA; why do I need a CFO?” is a common question we get from small business owners. We agree …
Take 6 Steps to Be Ready for the New DOL Overtime Rule
The new U.S. Department of Labor (DOL) ruling regarding overtime for exempt employees takes effect December 1, 2016. The revised minimum yearly …
Think Outside the Box – 8 Ways to Delight Customers
Most businesses have processes in place that keep the company moving forward each day. But pausing to think about how a company …
Social Media: Separating Business from Personal
People tend to fall into one of two camps when it comes to the combination (or not) of business and personal on …
Successfully Aligning Personal and Business Goals
Business owners often start or buy a company because of a passion for the work, and they want control and freedom. However, …
The Word of the Year for 2016 is . . .
Margin. I know, sounds pretty boring. But with a little explanation, margin is one of the most important statistics in our business …
Don’t Let the Grinch Steal Christmas: 5 Internal Controls to Preserve Cash
No business owner wants to think that internal theft is a possibility in their business. But the desire for additional cash may …
3 Ways to Capture More Time in the Day
The benefits of technology set the expectation to get more done – faster – than ever before. But everyone needs space in …
Back-charging Made Simple – 5 Easy Steps to Accurate Job Costing
In almost all construction or land development situations, the need arises to charge a vendor/subcontractor for damage, improper work, or general neglect. …
5 Simple Steps to Take Now for Easy 1099 Prep Later
Closing out the third quarter is a good time to look ahead, because getting a jump on year-end activities saves a last …
A Few Pointers for Deducting Entertainment Expenses
NOTE: Since the passing of the New Tax Law in 2017, the rules for deducting the expenses mentioned in this article have …