We coach a variety of businesses in a lot of different industries. Over the years we have observed some businesses grow and then slowly fail, and businesses that have plodded along, growing slowly, have done ok. On the other hand, many businesses have grown dynamically and are very successful. Each have used a variety of marketing methods and strategies.
Digging Deeper: Case Study April 2024
Consulting helps small business owners see more clearly the reasons for the pains and challenges they face. This clarification opens new roads and opportunities to make changes and grow your business to the next level.
This month’s case is one I see too often. Fast growth, but not the best credit nor having the time to check for other options… leading to the mind set… get it done so we can move on.
Digging Deeper: Case Study March 2024
As part of our ongoing “digging deeper” case studies, this one applies to many businesses and especially small businesses that are sole proprietorships or LLC’s.
Recently one of our small business clients with a Limited Liability Company and a sole proprietorship was struggling with the increasing costs of their phone bills. They had a landline, cell phones, DSL internet and over the past few years the monthly bill was well over $270.
Digging Deeper… Easily!
Every business can learn more effective ways to manage finances given the right tools. You may feel you are doing a great job, but periodic review of expenses or income can yield potential savings.
Tracking trends, such as cashflow, working capital, or equity will provide valuable insights. Our tools will help you analyze your bookkeeping or accounting numbers by providing graphics and data organization. You see and understand what’s happening financially in your business.
Non-Balance Sheet Assets… You Have Them? Right!
A business balance sheet tells the financial story of a business at a specific date (it’s a snapshot of your financial condition). Bankers, accountants, investors and business owners use them. Some better than others.
Basically, the balance sheet of a business shows your assets (things you own), your liabilities (what you owe others) and equity (the difference of what you own, less what you owe), what’s yours.
Oh, the Stories That the Accounting / Bookkeeping Figures Tell. Some Scary, Others Hopeful or Bright!
Some say accounting / bookkeeping numbers are hard to understand or even follow, just a jumble of digits. In reality, these numbers tell the story of a business. One story is told for the tax man, another for the banker and another for the owner or manager. Each story highlights its focus based on the rules of taxes, banking, and sound management of a business. All three are important and powerful… be it good or bad.
2018 United States Employee Payroll Withholding Tables Release By I.R.S.
If you live in the United States and are an employer. The IRS release preliminary withholding tables for 2018 during the second week of January. Income tax laws were changed by the Senate and House of Representatives and signed by the President in the later part of December 2017.
The new tables should be in place by February 15, 2018. It’s ok to use 2017 for federal income tax withholding on employees until that time.
Ways to Spot and Stop the Plague of Small Business Embezzlement
The plague of small business and institutional business embezzlement has even hit our small conservative city.
About 30% of all business bankruptcies in the United States are due to embezzlement or employee theft. That’s one of every three!
While every case is different, and methods change, there is one common thread to most cases. Trust… overwhelming total trust.
Ham, Egg and Cheese Croissant… to go, please!
I will admit, I have a weakness and fondness for breakfast sandwiches. From time to time (most workday mornings) I have been known to frequent national food chains and local hangouts to get a fix for the day.
My favorite sandwich is a ham, egg and cheese croissant… in a variety of variations, like extra meat. On occasion I make a dramatic switch and get a sausage one…. but always to go.
Perhaps it’s my need for comfort food, conquering the hunger pangs or maybe even habit.
Got Stash?
Many small to mid-sized business owners (This goes for individuals as well) suffer from “hand to mouth syndrome.” In more severe cases it’s called robbing Peter to pay Paul.
You may know it well, or see it coming or worked thru in the past…you know it in many different lights. It’s checking the mail box or paypal account, to see if clients have paid so you can hurry and turn around and pay pressing or past due vendors or meet payroll in a day or two.