Salt Lake City Bookkeeping Blog

Whether you’re an established business, or are just setting up shop, marketing is an essential vehicle for attracting new clients, generating leads, and ultimately selling your product or service. Devising a marketing strategy that’s aimed directly at your target audience is one of the best ways to introduce potential customers to your business, and give them the information they need to make a buying decision.

Did you know that the bookkeeping methodology your small business uses every day is based on a practice that was centuries in the making? In fact, it’s probably safe to say that the concepts behind double-entry bookkeeping were a work in progress for thousands of years!

Chances are, if your small business accepts debit or credit card payments from clients, you’re already familiar with the merchant account. At the most basic level, a merchant account is a special business bank account that allows your company to process electronic payment cards.

Small business owners are pretty generous people. Whether they’re sponsoring staff events, serving as mentors to budding entrepreneurs, or donating to local charities, many business owners regularly look for ways to give back to the community. The glow that comes from giving is often reward enough for such acts of compassion. But it’s always a bonus when you discover that paying it forward can sometimes mean being paid back.

In business terms, an asset is an advantage, a strength, and something – or someone - that adds value to your enterprise. Typically, the more you invest in an asset, the more you can expect to gain. With that in mind, have you ever stopped to imagine where your business might be without the dedicated people who work with and for you?

I want to share one of my favorite exercises that I do when I start consulting with a small business. The exercise is pretty simple: Write down all of the tasks you do on a weekly basis. I typically drop this on them at the end of a session and make it a homework assignment.

If you’re looking for the green light to make your business more sustainable, consider this win-win scenario: not only is the adoption of green practices in the workplace better for the environment, it can ultimately improve your company’s profitability.

When a customer decides to buy what your business is selling, it’s usually the final leg of what amounts to a well-documented journey. The buyer’s journey describes the various stages a typical client passes through on their way to a purchasing decision. The better you understand how to engage potential customers throughout the buying process, the more likely you are to generate more leads, convert more prospects, and ramp up the level of your profits.

Choosing a professional bookkeeping service is one of the easiest ways to help your small business grow! Every company, regardless of size, must accurately track and report the money flowing in and out of its accounts by way of sales, expenses, and salaries, but many entrepreneurs lack the knowledge and experience necessary to make this happen.

It’s in the nature of the game that you’ll be forced to deal with some level of risk in operating your small business. While some commercial pitfalls can be avoided, many are inescapable and require careful management to keep them at bay.