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Salt Lake City Bookkeeping Blog

The Secret To Improving Customer Retention

Posted by Leanne Armstrong on Feb 17, 2017 9:00:00 AM

Customers are the lifeblood of every business. And in today’s highly connected, review-driven world, your company’s reputation with past and potential clients plays an integral role in its long-term success. With unlimited choice at their disposal, many customers are choosing to forgo the lowest price for the goods and services they want in favor of a more satisfying buying experience. In fact, recent research by American Express indicates that the majority of consumers are willing to spend more money on companies that provide the best customer service. If you’re hoping to see your business grow, it’s well worth taking the time to understand what your customers really want.

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Topics: Financial Reporting, metrics, Customer Success, Growth Coach

Should I Be Tracking My Restaurant Tips?

Posted by Thomas Liquori on Feb 15, 2017 9:00:00 AM

In general, business owners and other professionals want to keep track of all their income. This includes moderate and small amounts. However, does it also include tracking incoming restaurant tips if you’re working in the food industry and employ people like wait staff, bartenders, bussers and hosts who are earning tips?

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Topics: Small Business, Restaurant Business, restaurant tips

4 Reasons Why You Need a Small Business Consultant

Posted by Thomas Liquori on Feb 10, 2017 9:00:00 AM

You may be running a business with great skill, but the services of a business consultant can still give you a powerful advantage. No matter how efficient and effective you are at running your company, there are four excellent reasons to hire a service offering business consulting for small businesses:

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Topics: Small Business Growth, Small Business Consulting, Small Business Coach

Bookkeeping Services for Small Businesses

Posted by Joe Mazur on Feb 8, 2017 9:00:00 AM

Trying to do your own bookkeeping can be daunting. You have a whole company to run and your area of expertise may simply not be in the financial or business fields. Fortunately, you have many options. So how can you find the right small-business bookkeeping services for your needs?

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Topics: Bookkeeping, Small Business Bookkeeping, Small Business

How to Track Cash Flow from Business Operations

Posted by Joe Mazur on Feb 3, 2017 9:00:00 AM

Determining operating business cash flow helps you distinguish how much money your business makes from customers and operating activities, such as selling products and services, from money made from financing or investing. Calculating your operating business cash flow helps you manage your money and ensures you have enough funds from customers to cover operating expenses and costs.

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Topics: Cash Flow Management, Cash Flow, cash flow from operations

What is Cash Flow From Operations

Posted by Joe Mazur on Feb 1, 2017 9:00:00 AM

Cash flow refers to the money coming into a business. There are many ways money can enter a business and many ways for companies to add to their profits and revenues. However, understanding cash flow from operations is an important part of making decisions. If your business is creating a cash flow statement for an annual or quarterly report, cash flow from operations will play a key role.

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Topics: cash flow from operations, small businesses

Common Small Business Mistakes

Posted by Joe Mazur on Jan 27, 2017 9:00:00 AM

Small-business mistakes can add up to big disasters. While large companies have the capital and budgets to fix big errors without folding, the same is just not true of smaller enterprises. If yours is a growing business, even relatively minor errors can be costly enough to cause you to close your doors.

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Topics: Small Business, small business mistakes

How to Manage Your Cost of Goods Sold (COGS): Tips for Small Businesses

Posted by Joe Mazur on Jan 25, 2017 9:00:00 AM

Whether your business sells products or services, it’s important to know “what is the cost of goods sold?” for each item or service you sell. This number provides the basic information you need to build traffic and to grow your company.

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Topics: Small Business, cost of goods sold, small businesses

What Are Small Business Operating Agreements?

Posted by Thomas Liquori on Jan 20, 2017 9:00:00 AM

Whether you have a small business that’s been up and running for years, or you’re an entrepreneur thinking about opening a company, you still need an operating agreement. Unfortunately, operating agreements are not always in place in small businesses across the country, which is a misstep — especially for LLCs.

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Topics: Small Business, business agreements, operating agreements

Should My Small Business Have a Business Continuity Plan?

Posted by Thomas Liquori on Jan 18, 2017 9:00:00 AM

You already have a business plan, but do you have a business continuity plan? The former is a guideline for your entire company’s processes, but the latter is specific to a disaster or emergency incident. Ironically, most small businesses never even consider the importance of a business continuity plan, often because they mistakenly assume that they can rebound after an event such as a weather-related shutdown, fire, terrorist event, technological disaster or others.

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Topics: small businesses, business plan, small business plan