There comes a time in all successful small business operations when the business owner will find themselves wearing all of the hats: salesperson, stocking clerk, customer service rep, accountant, bookkeeper, payroll, manager... janitor. Each of these jobs are important, but at some point, owners will be spread too thin and need to make the call to bring in help. So, how do you know when the time is right for you?
For small businesses, every penny needs to be put to use in the smartest way possible. Here are a couple of tips to help you make those critical dollars stretch.
You've started spring cleaning your home and yard, but what about your office? Consider a paperless office as part of your spring cleanup and organization. There are benefits as well as incentives to going paperless and every dollar bill counts in today’s economy.
One of the most exciting things a small business owner will do is hire their first employee.
Here are a few tips when you do so:
1. Budget for the Addition
There will likely be a time when you are dealing with clients that may be negatively affecting your business.
These are some of the red flags you should notice:
Client doesn't Pay on Time:
Anything over 90 days is a big red flag. Slow payment reduces your profit margin. This client may not be as profitable as you think. The more time it takes to pay you, the more likely your client will forget the great work you did for him or her. Your client is paying at least a few of their bills. Make sure you are one of them.
There are many tasks involved with small business bookkeeping. These tasks often take much longer than we expect because concepts are easier to understand than to implement.
Here are some simple solutions to your bookkeeping problems:
What do you need in an Expense Report? To save you and your bookkeeper time, incorporate the following seven features into your Expense Report.
Are you considering outsourced bookkeeping for your small business? In our video below, learn how much you can expect to pay if you hire an outsourced bookkeeper. You can also access Intuit's Billing Rate Survey to see what bookkeepers are charging.
As last year winded down and you looked toward this year, you probably had goals and dreams of where you would like your business to go and how to make it grow. You prepared what you thought to be a realistic budget. Preparing the budget is the first step; reviewing it at least monthly is as important to the success of your company. Don’t let your budget gather dust and never look at it again.
Are you a dentist who does work in exchange for IT services? Maybe you are a physical therapist who exchanges services with someone who does your social media. These are great examples of bartering.
