Is it possible to be too financially cautious? Cautious does not mean that you are just conservative or frugal with your money, but that you are too afraid to spend your money wisely. You may not even be aware that you are too cautious and here are some examples: Hesitate to make the right investments: […]
QuickBooks
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 […]
Focus on These 3 Areas to Multiply Your Business Success
Having a business is not easy, and even successful business owners know this. But what is the secret to running a successful business and multiplying your results? You must focus on these 3 areas: Operations: Operations is a very broad category, but it can be viewed as any activity that supports or creates and delivers […]
If You Want More Success Then Know the Difference Between Important vs Urgent
Important vs. urgent. Many people confuse the two, but if you want to be more successful, then you need to be able to discern between them. Important items have great significance or value while urgent items require our attention immediately. Here are some examples: Important: These are items that you need to do, but do […]
The LLC Trap
Operating a business as a limited liability company, or “LLC” is very popular among small business owners. LLC’s have been around for several decades and can be formed in every state. There can be several benefits, but several major drawbacks. The Benefits of an LLC: Less Administrative Burden: If you operate as a single-member LLC, […]
Simplify Your Home Office Deduction
The home office deduction is used by both small businesses and employees, which allows a deduction for using part of your home exclusively and regularly for business purposes. This allows a percentage of certain expenses to become tax deductible or at least more tax favorable such as mortgage interest, property taxes, rent, utilities, homeowners insurance, […]
Getting More from QuickBooks
The most popular small business accounting software by far is QuickBooks. It can be easy to use, is very affordable, and can help you to run your business better. Unfortunately, QuickBooks is quite often not used to its potential. Here are some things you should be doing with QuickBooks: Running Financial Reports: To know how […]
Before You Buy a Business
Businesses are bought and sold each day and some make better investments than others. Before you buy a business, here are a few things to make sure you make the right move: Why is the seller selling? There can be many reasons why a business is for sale, and some reasons are better than others. […]
The Hidden Retirement Asset
Financial advisors frequently mention the three main pillars of retirement, which are social security, pension plans, and personal savings. Yet, you rarely hear them speak about an asset that may prove to be an individual’s largest asset – their business. Many business owners invest their money back into their business over the years, especially during […]
Do You Have Too Many Customers?
What do you think is better, 100 customers or 200 customers? It might actually be the lower number, and I’ll explain why. Let’s say that a small business provides landscaping and maintenance services for both businesses and for residential customers. Most of the customers are within a reasonable driving distance from the main office, and […]