Budgeting Your Business Finances

I know I talk about budgeting a lot.  That’s because it’s important!  First, let me distinguish between two different terms – budgeting and forecasting.  Budgeting is planning the use of your financial resources month to month.  Forecasting uses historical data, comparing it to the budget, and making predictions for the future.  Both are very important…

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Cash Flow Challenge

We all know that in order to grow, you’ve got to spend money. The challenge is, where do you get it from? If you think you’re ready to grow, think again. The signs may have been positive lately: revenues are up, you’re selling more services, and work in coming in faster than you know what…

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TEAMS

A team is a way of organizing different people with different goals and plans.  When a team is successful, it funnels the energy of team members for the overall good. Your team is also probably your biggest single expense, so it’s important to get the most out of them!   Do You Have The Right…

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Customer Satisfaction

CUSTOMER SATISFACTION Following up on our last blog about numbers, we will discuss the importance of Customer Satisfaction. A vital part of any business is how your consumers feel about operations.   What Are Your Customers Saying About You?  The most successful companies always include customer feedback into their meetings.  It is no longer an…

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Numbers

Following up on our last article about having a healthier business, we are going to dive into numbers. Without knowing how a company has performed financially, it’s difficult to predict where it can go. When tracking and understanding your business, it’s important to ask yourself these questions. Are You Profitable? If the revenue from your…

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Four ways to assess your business health

With the start of a new year comes promises to become healthier. There are plenty of ways to assess your physical health (weight, BMI, cholesterol, resting heart rate, blood pressure, etc.)  Why shouldn’t we be looking at our businesses similarly?  When thinking about the health of your business, here are four areas to review when…

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How To Price Your Small Business

One of the reasons behind small business success, is appropriate pricing. When you price your product accurately, it can really help build the foundation for your business to succeed. The same goes for pricing your product or service incorrectly, your business may face problem that has trouble overcoming. It’s not an easy task to develop…

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Understanding Your Balance Sheet

Being able to understand the different types of financial documents and information your business has should help you better understand your financial position. Learning how to decode a balance sheet will help give you the tools you need to make important decisions about your business. A balance sheet, or sometimes called a “statement of financial…

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End-of-the-Year Checklist for Small Businesses

I love this time of year!  Thanksgiving is my favorite holiday.  It’s tempting to focus on holidays, traveling and family visits, but tend to forget about your businesses 4th quarter closing. Now is the time of year where your business needs your attention the most, especially when it comes to your finances. Keeping on top…

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15 Financial Management Tips for Beginners

15 Financial Management Tips for Beginners Separate Business Expenses from Personal – This will help keep your personal spending separate from your business costs. Plus, having a business credit card could come with a higher credit line, for unforeseen expenses. Not separating the two can cause confusion when you’re analyzing your yearly spending. It could…

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