As small business owners, we all face challenges. What are the biggest challenges facing you and your business. I was recently reading an article that discussed the 5 Biggest Challenges Facing Your Small Business. When I read them, I knew that these would resonate with...
Whose job is it to make sense of all of the business numbers? It isn’t the bookkeeper’s job. This is a clerical function. It isn’t the accountant’s job. That is to make sure that the bookkeeping is accurate, that records reconcile, and financial reports are completed...
Every business, whether a small business with a few employees, to a Fortune 500 company, you need to spend time thinking strategically. As small business owners we spend so much time working “in” our businesses, and not working “on” our businesses. I had a networking...
Every business owner will eventually ask this question. I’ve built this successful business, but I don’t want to run it forever, so now what am I going to do? The easy answer is you have three choices. Sell it to someone you know. Sell it...
Key steps in drawing up a budget There are a number of key steps you should follow to make sure your budgets and plans are as realistic and useful as possible. Make time for budgeting If you invest some time in creating a comprehensive and realistic budget it...
Today I continue with the second post in my series on the benefits of planning. In this post I cover what a typical business cycle plan is, benefits of a business plan, and the first steps in creating a budget. A typical business planning cycle Review...
Whether you’ve just started your business or your business has been operational for some time, it's essential to plan and tightly manage its financial performance. Creating a planning process is the most effective way to keep your business and its finances on a path for...