Today’s labor market is the tightest in decades. And with millions of job openings across the nation, companies of all sizes are finding it difficult to attract and hang on to the talent they need. The quest for qualified staff is only expected to intensify going forward, leading experts to predict that business owners will have to ramp up their efforts to retain a solid and reliable workforce.
Topics: sourcing employees, talent acquisition, Scaling A Business, employee engagement
Young and growing businesses rarely turn a profit – let alone manage to break even – right out of the gate. In fact, when we look beyond the estimated 50% failure rate for small businesses in their first five years, we find that it can still take the average surviving business several years to become profitable.
Topics: Financial Forecasting, cash flow forecasting, Cash Flow, Growth Coach
If you’ve been so preoccupied with running your business that year-end bookkeeping tasks have caught you off guard, don’t panic. Take a deep, calming breath and get ready to tackle those accounts with a plan for streamlining the process.
Topics: Year End Bookkeeping, Year End Accounting, Outsourced Bookkeeping, Outsourced Accounting
You have two choices when it comes to turning a bigger profit: increase your revenue, or cut your expenses. As a rule, we have far more control over how much we spend than we do over how much we earn. Which is why the most successful small business owners utilize dozens of practical methods for cutting costs and lowering their overhead. Here are three strategic money saving suggestions we think are well worth exploring.
Topics: Business Savings, Growth Coach, Business Budgeting
Tussling with time management? Struggling to move that new project forward? You’re not alone. A recent study listed managing project costs, hitting deadlines, and sharing information across teams as the biggest hurdles facing project managers in 2018.
Topics: Business Management, Business Apps, Scaling A Business, Growth Coach
Although marketing trends can be tough to keep up with, tried and true fundamentals really haven’t changed all that much. Perceptual mapping has been used in marketing research for decades. As such, it’s a valuable tool with the proven potential to help you out-market the competition.
Topics: small business marketing, Inbound Marketing, Sales, Growth Coach
We’ve said it before, but it’s well worth repeating: cash flow is the lifeblood of every successful business. It’s often a lack of liquidity, in fact – rather than a shortage of sales – that prevents newer companies from growing. One way to keep your business afloat during a cash flow shortfall is to sell your accounts receivable invoices to a factoring company. Factoring doesn’t come free, however. So here’s what you need to know before exploring it further.
Topics: Factoring, Factoring Invoices, Accounts Receivable, Cash Flow
With no software to install, moving your books to a cloud-based accounting program like QuickBooks Online offers a bounty of benefits – including the freedom to manage your finances from anywhere.
Topics: Cloud-Based Accounting, Cloud Storage, Outsourced Bookkeeping Services, Small Business Bookkeeping
Like many strategic business alliances, the advantages of investing in better vendor relations aren’t always immediately evident from a bottom line point of view. But the reality is that regardless of the business you're in, suppliers and service providers play a key role in keeping your company profitable.
Topics: Vendor Relationships, Vendor Selection, Growth Coach, Small Business Growth, Scaling A Business
An efficient and accurate bookkeeping system - one that’s managed with the help of bookkeeping software - is essential for business success. Cloud-based accounting programs like QuickBooks Online (QBO) are ideal because they let you track financial transactions and collaborate with your accounting professional in real-time, while supporting a number of time-saving third-party apps.
Topics: QuickBooks Apps, QuickBooks Online, Cloud-Based Accounting
