Are you using your calendar as a tool to be as productive as possible? Most people do not use their calendar in a way to maximize its effectiveness, but if used properly, it can help you to reduce the amount of hours you work. Here are 5 ways your calendar can help you to work […]
Technology
When Should Your Parents Stop Being Involved in Your Financial Affairs?
Our parents raised us and shaped who we are today, and there is probably nothing that we can do in comparison to what our parents did for us, except for perhaps raise our own children well. But, when should our parents stop taking charge of our finances, career and/or business? It is a good for […]
Will Outsourcing Create Higher Profits?
When we think of outsourcing, we immediately think of manufacturing goods overseas or customer service reps with thick accents reading from a script. Even with all of the negative images of outsourcing, should you still outsource parts of your business or even vital functions? Here are some pros and cons: Pros of Outsourcing: Potentially lower […]
Want a Better Business? Focus on Recurring Revenues!
There are more ways to make money in business that can be listed. However, one mostly overlooked business model by a majority of small businesses is the recurring revenue model. Larger businesses already know this and are taking advantage of the benefits. Here are some pros and cons and how to implement the recurring business […]
Small Business, Large Profits
All small business owners want to increase sales, open new locations, obtain more customers, add employees and grow, grow, and grow some more. It sounds good, but is it really necessary? Is there an alternative? Necessity: It is necessary to grow your business as the alternative isn’t too appealing. You have financial obligations and people […]
How Long Should You Save Your Tax Returns and Financial Records?
The IRS says that you should normally keep your records for 3 years, and for some situations you should keep them for 6 to 7 years. However, I strongly disagree and here is what you should do and how to do it: Tax returns: Do you want to know the prudent answer to how long […]
Be Careful When Making Online Payments to the IRS
We usually recommend that taxpayers make their tax payments online to the IRS and states. Here are the benefits, but a few caveats to watch out for: Benefits: When making payments online, your payments are generally credited on the day that you make the payment. Additionally, you can clearly apply your payments to a prior […]
3 Ways to Turn Around a Struggling Business
After the Great Recession there are still some businesses that may be struggling and don’t know what to do about it. Here are a few ways to turn around a struggling business: Upgrade: The rate of change nowadays seems to be accelerating at a pace that has not existed in the past. This includes technology, […]
How and Why to Strengthen Your Personal Finances to Increase Profits
Most people view their business to be a completely separate entity from their personal finances, and rightly so. This is generally true from a legal, tax, and accounting standpoint, whereas your business operations and finances should be separated from you personally. However, most small business owners are completely dependent upon their business to support them, […]
Don’t Change for the Exception
Most people don’t like conflict and make a great effort to avoid uncomfortable situations with people, especially those who are difficult to satisfy. It’s important to learn from these situations and consider their feedback, but you probably should not change your business practices because of them. Actually, if you listen to them you may seriously […]