Salt Lake City Bookkeeping Blog

Setting goals and objectives is incredibly important when you run a small business. Not only has goal setting been shown to result in actionable behavior that aligns focus and sustains momentum, the bottom line is that you can’t improve what you don’t manage and measure. Rather than allowing outsized goals to overwhelm you however, the trick is to approach progress as a daily event. And that’s why small wins play a key role in achieving your business objectives.

Following best practices for bookkeeping is critical for your company’s long-term success. But with many newer ventures choosing to handle their own record-keeping activities, business owners who find themselves increasingly caught up in the day-to-day needs of their organizations often fail to recognize when they’ve outgrown their accounting approach.

Your needs as an employer are unique to your business. So it only makes sense to hire employees who demonstrate appropriate knowledge, technical abilities, or academic credentials. But no matter what business you’re in, you should also make a point of considering an applicant’s less tangible qualities. Especially since soft skills matter a great deal in today’s dynamic workplace environment.

When your small business needs money, there are so many options available to you it can be difficult to know where to start. In this introductory guide to borrowing, we’ll take a brief look at everything you need to know before you apply, so you can make the best choice for your business.

Do you consider yourself an introvert? More importantly, have you fallen into the trap of believing that your introverted tendencies are interfering with your business success? If so, prepare to have your confidence boosted. Because the reality is that succeeding as an entrepreneur is no less doable as an introvert than it is as an extrovert. In fact, most studies show that introverts make better leaders.

Did you know that not all small business expenses are created equal when it comes to your annual tax return? Most entrepreneurs understand that deductible expenses help to offset many of the costs of running a business. But not every expenditure is fully tax deductible. Understanding which expenses can effectively reduce your taxable income will not only help you estimate your tax obligation for the coming year, it will improve your business planning.

The press release has been around in one form or another for decades. But because these announcements have traditionally been associated with radio and television news broadcasts, newspapers, and other print publications, many small businesses overlook their marketing potential. Are press releases still a worthwhile way of connecting with your audience? The short answer, according to many publicity professionals, is yes.

Soft skills like time management, creativity, and adaptability play an enormous role in business success. But there’s one important and highly profitable soft skill that continues to suffer from a bad reputation: the art of persuasion.

Scaling a small company can be challenging. But despite current politics and worker shortages, a record level of small U.S. businesses are reportedly growing their profits. Is yours one of them? If not, it may be because you’ve yet to structure your business to optimize growth.

Because it can be applied to both pricing and negotiations, the anchoring bias has the potential to boost your company’s revenue and help you cut costs. Identify how anchoring works and you’ll be better positioned to charge more for your product or service, while paying less for your business expenses.