Salt Lake City Bookkeeping Blog

I've been working on our exit plan lately. Does that mean that we want to sell our business? Absolutely not! So why am I going through the process of exit planning? 

Whether you’ve recently started a business, or have already established a solid footing in your industry, keeping a finger on the pulse of emerging trends is vital. Economic forces aside, small business trends are driven by the wants, needs, beliefs, and values of the buying public. So regardless of the business you’re in – or what year it is – how customers see your organization matters.

As one of your greatest assets, your employees play an integral role in the success of your small business. So it only makes sense to devote a reasonable amount of time and effort to choosing just the right members for your team.

Companies large and small are discovering the advantages of migrating their operations to the cloud. Most of these benefits revolve around saving money, improving flexibility, and staying competitive.

The impact of emotional intelligence (EI) on the workplace was first brought to our collective attention when author and psychologist Daniel Goleman wrote about it in 1995. Goleman described EI as an aptitude for effectively recognizing, managing, and expressing our emotions - and for helping others to do the same.

If there’s one thing the modern business owner understands, it’s that growth is essential for long-term success and survival. Increasing your income and profits by increasing your customer base is what lies at the heart of every growth strategy. But many entrepreneurs are confused about the difference between marketing to attract new clients, and growth hacking.

As a low-cost method for connecting with influencers and ferreting out new opportunities, networking remains one of the most effective ways to market your small business. And if it’s true that “your network is your net worth” - as author and technology pioneer Tim Sanders so famously quoted - then having a strong network is very much like having money in the bank.

When it comes to engagement, creativity, and productivity, there’s a strong correlation between a positive mindset and improved business performance. In fact, according to New York Times bestselling author Shawn Achor (The Happiness Advantage), it’s clear that “increasing your happiness improves your chances of success.”

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!