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Salt Lake City Bookkeeping Blog

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5 Stages Of Small Business Bookkeeping Understanding

  
  
  
Need Help Understanding Bookkeeping

Small business owners have many varying degrees of understanding when it comes to their small business bookkeeping. Some business owners are intimidated by their bookkeeping, while others just don't care about it. Many business owners don't understand their bookkeeping or the importance of it until someone shows them. Working with hundreds of small business owners over the years has shown us the varying degrees of understanding that owners go through with their books. Here are five stages of small business bookkeeping understanding that you can use to enhance your understanding of your own business's books.

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  

Small Business Owners: Don't Let Your Monday Ruin Your Sunday

  
  
  
Montana Solar Power Service

I was coming home from one of many amazing fishing trips of this summer with my wife and my friend Kyle. Kyle is a great friend of mine and a partner in Harvest Solar MT out of Bozeman, Montana. I respect Kyle for many reasons. By choice he lives off the grid, he is an incredibly hard worker, and one funny guy. So we are driving home on a Sunday evening from a four day float out of the wilderness just outside of Glacier Park in northwest Montana. It was getting late in the evening and all three of us had to work on Monday morning. We were all starving but I didn't really want to delay our drive home. I kept asking Kyle if he cared if we stopped or if he wanted to get home. Kyle responded, "Don't let your Monday ruin your Sunday bro." Kyle's statement has stuck with me for the past several weeks and I have found that taking this advice to heart really helps.

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  

Market Your Small Business To Work With Like-Minded Business Owners

  
  
  
Market Your Small Business

Lately, we have been attracting a lot of like-minded business owners as clients. You know the clients I am talking about; the clients that are a great fit for your service that you love working with. When you meet with a prospect that shares similar views you just kind of hit it off because it is a perfect fit. Then I got to thinking about how our marketing efforts attract these like-minded business owners that are a perfect fit.

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  

Consistency In Your Small Business Pays Off

  
  
  
Consistency in Small Business Tasks

Staying consistent with many different aspects of your small business can really pay off in the long run. I got the idea for this blog when I was fishing a few weeks ago on a particularly good morning. On the morning of July 28, 2014 I was coming off of a week of vacation so I was at my desk early catching up. About 8 am I looked outside to see a blizzard of bugs (good for fly fishing) and went outside to take a look. There were so many bugs I had no choice but to grab my rod and go fish. I had one of the best mornings of fishing of the summer. I continued to fish just about every morning for the two weeks following that and never had the same banner morning. However, I learned a lesson that can benefit your small business; staying consistent can really pay off.

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  

Is Your Small Business What You Thought It Would Be?

  
  
  
Hate My Small Business

Does your small business look anything like you wanted it to when you first started it? I know many small businesses don't end up where owners thought they would. It's not always a bad thing because often time's things end up better than intended. Many small businesses don't end up operating the way the owner originally intended. Some owners hire consultants to help them get their business where they want it to be. Here are a few things in your small business that may end up differently than you intended.

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  

Putting Your Small Business In A Logical Order

  
  
  
Set up a Small Business

When you started your small business did you set things up in a logical order? Most entrepreneurs find out the hard way that there is a logical order to setting up your small business. Most businesses start out so small that they don't think it is important or worth the time and money to set up their business the right way from the beginning. Like most new entrepreneurs they focus on sales and making money because otherwise they will be broke and their business will fail. If they have success they find out later that they may not have set up their business the best way from the beginning. This often results in lots of consulting to restructure the business and fix all the mistakes that were made. Here is some advice on setting up your business correctly from the beginning and handling things in a logical order.

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  

Do You Analyze Your Small Business Financial Reporting?

  
  
  
Financial Reporting for Small Business

If you are like some business owners I know you may not take time to analyze your small business financial reporting on a regular basis. However, if you want to have a successful small business you need to make a habit of looking at your financial reports often. How often should you look? Probably a lot more than you do, but as a bare minimum I think you should look at your financial reports one to two times per month if not every single week. Analyzing financials and making the necessary adjustments is a key component of keeping your business on track. Here is a quick guide that will help you consistently analyze your small business financial reporting. 

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  

What’s Keeping Your Small Business from Growing?

  
  
  
Grow Your Small Business

Is your small business growing beyond your expectations? If your answer is no do you know what is keeping your small business from growing? It seems like some small business owners are always struggling. They seem beyond busy, but still they are coming up short on their growth aspirations. I certainly don’t have a magic formula for small business growth, but I do understand many of the roadblocks that small business owners face when trying to grow. Here are a few things I believe are keeping your small business from growing.

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  

Breaking The Norm In Your Small Business

  
  
  
New Small Business Owner

Today’s small business seems to break the norm and tradition that businesses once had. It’s not at all a bad thing, just an observation. Most business people would live near a city, dress up nice and commute to work each day. Things are changing; today’s small business is breaking and redefining normal.

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  

Small Business Owners What Management Type Are You?

  
  
  
Small Business Management Styles

I remember a conversation with my dad years ago where we were discussing different small business management styles. He said, "There are three different management approaches that people take in small business; financial, operations and sales. None of them are correct or incorrect they are just different approaches." I can't say that this was the exact quote but it was along those lines. Years later after working as a part-time controller for hundreds of different businesses I totally get it. I have seen all sorts of different management styles in lots of different businesses; let's take a look at these three.

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  
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