When I was a freshman in high school, my first assignment was to read a book by Stephen Covey. The book was, “The 7 Habits of Highly Successful Students.” It was a play on his NYT best-seller, “The 7 Habits of Highly Effective People.”
When we talk about sports numbers aren't scary. Many fans know all the stats for their favorite team. For those that play in a fantasy league, they may know the main stats for every team and all-star player. When it comes to accounting, most people hit a mental roadblock. Business numbers are abstract compared to sports. All too often people tell me it's too difficult.
The business is going well. You have lots of customers, you're making a profit, and all signs point to growth. At this rate, you'll need to expand. But when? And how?
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Financial reports are one of the most confusing areas for business owners. It’s a bit like learning how to read because it’s not very intuitive and it takes time… but like the alphabet and words, you can learn.
Your business’s financials are critical to manage your money and set yourself up for success. Discover the 5 questions your financial reports can answer for you!
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Before you leave the house, you follow a set routine. Purse? Check. Wallet? Check. Car keys? Check. Door locked? Check. Like the steps you take before locking your door, there are steps you should take to make sure your business’s finances are buttoned up and “closed” each month. Take a look at the 5-step process I follow with my clients.
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When you're about to throw a house party, you don't wait until 2 hours before to start cleaning. The same thing goes for filing your annual taxes. It's not in your best interest to wait until the last minute because you’ll miss some important corners and deductions. Discover why it’s important to have a weekly financial date with your numbers.
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Over 80% of small businesses fail due to cash flow problems. And heading into a recession means you need to get your cash flow under control. Keep reading to discover 5 areas where you can trim your expenses immediately.
