I have had a lot of meetings with newer entrepreneurs who have a lofty financial target in mind like getting to $10K of monthly sales but don’t really do anything to operationally achieve those goals. Each month they say our target was $10K but our sales were $500 so they get disappointed and frustrated. Maybe Read more about How to Increase Profits through Operations[…]
I frequently see businesses that are not profitable or have small profit. Usually, these owners are burned out and very frustrated and don’t know what to do to fix the situation. Here are some of the methods I use to help them. Heading into 2022 some of these problems are only getting worse including: QBO Read more about How to Increase Profit[…]
I am personally excited about this post as I did something pretty cool. It doesn’t have anything to do with bookkeeping or fractional CFO work but I wanted to share it with you in case it helps your business. I have always heard that video is a an awesome way to do content for SEO. Read more about How videos help your SEO – 1st page of google example[…]
Here are some metrics that are good metrics but sometimes business owners rely too heavily on them instead of really trying to improve the business. Having a healthy business means that it is a sellable asset. If you are a startup it will be different than a small business as they have different exit criteria. Read more about 3 metrics you are focusing on that may not help improve your business – Revenue, Profit, Growth[…]
I had the pleasure of being on the Rialto Marketing Podcast with Tim Fitzpatrick. We covered some great topics including – How can people be more efficient with bookkeeping? What do people get wrong when it comes to budgeting and planning? How do companies improve growth, profitability and. cash flow? Here is the Facebook live Read more about Podcast on Bookkeeping, Budgeting and Profitability[…]
For most CEOs one thing they struggle with for bookkeeping is how to classify transactions – should it be an office expense, cost of goods sold, or ask my accountant? Luckily there are some guidelines to follow from a tax perspective and so your financials are easy for someone to look at and understand how Read more about How to classify transactions for bookkeeping[…]
Now that PPP2 has come and gone for the most part we are seeing more questions for help on the Employee Retention Credit (ERC) to see if they are eligible and how to apply. We will cover both in this article but first lets give a little background. What is the Employee Retention Credit (ERC)? Read more about Employee Retention Credit (ERC) Overview[…]
Bookkeeping is a very general term and has many different definitions kind of like a handyman. Some handyman can repair everything from HVAC to plumbing and painting, while others really only do smaller jobs like change out locks or fix a garbage disposal. Bookkeeping is the same way. Some bookkeeping firms only provide basic bookkeeping Read more about What are bookkeeping services?[…]
Here are my favorite metrics to check when I finish creating a five year plan. These metrics are also great to check for annual budgets or even monthly forecasts. Revenue Growth Year over Year Percentage – Revenue is the key to any business and understanding how it changes year over year gives you insight into Read more about 5 Key Metrics to Check in your Five Year Plan[…]
There continues to be a lot of conflicting information regarding the different programs associated with the CARES Act. We will continue to update this post as we find out more however this money is coming in or has already come in and needs to be accounted for immediately so we wanted to share some of Read more about How to Account for CARES Act Money – PPP and EID, Loans, Grants, Advances[…]