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Salt Lake City Bookkeeping Blog

How to Get More From Your Mentor

Posted by Austin Walker on Aug 23, 2016 8:30:00 AM

As a small business owner, having a dedicated mentor by your side can give you a huge commercial advantage. Business mentors are experienced and committed individuals whose role includes providing valuable professional advice, as well as the moral support and encouragement that’s necessary to keep a business owner focused on what’s most important to the success of their enterprise.

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Topics: Small Business, Business Mentoring, Business Coach

10 Answers to Your Questions About Forecasting

Posted by Austin Walker on Aug 16, 2016 8:30:00 AM

Forecasting is basically the use of historic data to predict future events, and the wisest business owners make full use of the financial data at their disposal for everything from planning for upcoming expenses, to allocating budget funds.

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Topics: Financial Forecasting, Small Business, expenses

The Anatomy of a Great Scaling Strategy

Posted by Austin Walker on Aug 11, 2016 10:10:13 AM

Although it’s your company’s profit margin that determines how much money eventually ends up in your pocket – and not the volume of your sales - there’s an inextricable link between revenues and profits, and an effective scaling strategy should address both.

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Why You Should Forget About Improving Your Personnel (And Focus on Improving Yourself)

Posted by Austin Walker on Aug 9, 2016 8:30:00 AM

Running a business and being a good manager are two very different things. Regardless of the size of your business or the industry you’re in, your personnel play a key role in the success of your enterprise. If you want to make the most of your staff’s professional abilities, it’s worth spending some time defining your own role in motivating their performance to be the best it can be.

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Topics: employee

8 Laws Anyone Working on Pricing Should Know

Posted by Austin Walker on Aug 4, 2016 8:30:00 AM

Pricing your products or services in a way that keeps you competitive while turning a profit can be an ongoing challenge for the small business owner. While your underlying costs always have to be taken into account, strategic pricing practices go well beyond the numbers to include proven buying behaviors.

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Topics: Small Business Sales, Profit Coach, Pricing

7 Things about Failing You May Not Have Known

Posted by Austin Walker on Jul 28, 2016 8:30:00 AM

Nobody sets out with the intention of failing, or particularly likes it when it happens. At best, failure is a frustrating experience, but at worst it can be utterly demoralizing.

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Topics: Small Business, Business Failure

The Cloud Accounting Movement... Who Cares?

Posted by Matt Roberge on Jul 26, 2016 8:30:00 AM

The movement to cloud accounting is nothing new; it’s also a buzzword, as many businesses have been in the “cloud” for years. The cloud is nothing more than secure access to your information, no matter where you are, because it's hosted on the Internet. However, businesses accounting has technically been living in the cloud for years through the use of virtual servers and online data storage sites like Dropbox.

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Topics: Bookkeeping Services, Growth Coach, QuickBooks Online, Cloud-Based Accounting

Small Business Marketing: The Good, the Bad, and the Ugly

Posted by Austin Walker on Jul 21, 2016 8:30:00 AM

Sometimes it doesn’t seem to matter how digitally advanced your small business is, or how dedicated you are to making it the very best it can be. If potential customers don’t know who you are, where you are, or what your product or service is going to do for them, all your hard work and the most up-to-date technology available isn’t going to help you succeed.

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4 Things We All Hate About Delegation

Posted by Austin Walker on Jul 19, 2016 8:30:00 AM

While most of us know a successful delegator or two, that doesn’t make it any easier for us to become one. The illusion of losing control when we offload tasks to others can be a pretty compelling reason not to go there. Besides, how can we expect our employees, our customers, and that loan officer down at the bank to continue to take us seriously as entrepreneurs if we’re not trying to accomplish the work of at least half a dozen people at once?

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Topics: Delegating, Small Business Mentor

Making Tough Choices in Ten Minutes or Less

Posted by Austin Walker on Jul 14, 2016 8:30:00 AM

As small business owners, we invest a lot of time and energy into making daily decisions. While some of those decisions, like debating which font to use on a business card, aren’t terribly consequential, others can have widespread ramifications and may involve anything from implementing budget cuts to investing in new products or services.

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Topics: Small Business, Strategic Planning, Decision Making