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Salt Lake City Bookkeeping Blog

5 Benefits of Opening a Franchise Business

Posted by Matt Roberge on Sep 14, 2016 9:00:00 AM

Have you ever thought about opening up a convenience store, such as 7-11, or a restaurant such as McDonald’s? If so, you’re probably familiar of the concept of franchising. When you open a franchise, you pay a fee and the franchiser supplies you with the products, training and support you need to run your business.

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Topics: Business Start Up, Business Goals, Small Business, Scaling A Business

5 Things To Know If You Are Considering Opening A Small Business

Posted by Matt Roberge on Sep 1, 2016 7:07:51 AM

Are you thinking about starting a small business but you have some concerns that are causing you to hesitate? You are not alone because opening a small business is not for everyone; and it's not easy! 

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Topics: Start A Business, Small Business Coach, Business Start Up, Growth Coach

How To Solve A Startup's Toughest Challenge

Posted by Matt Roberge on Dec 22, 2015 7:00:00 AM

Do you think that the number one problem that startups face is lack of money? I think you could also make a case that the biggest problem for startups is lack of time. Startups often have a great idea and a top notch team, but will hit the common roadblocks of finding time and money.

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Topics: Entrepreneurship, Business Start Up, Start A Business, Startup, Raising Business Capital

How To Generate And Implement A Great Business Idea

Posted by Matt Roberge on Aug 13, 2015 7:30:00 AM

I love enthusiastic entrepreneurs who come up with business ideas. I have patiently listened to many, many different business ideas from entrepreneurs full of hope and energy. Yet many of these great ideas fail to come to fruition. Why is that? I really don’t believe that most are bad ideas; I think that most people don’t know how to properly execute their ideas. Here are my thoughts on how to generate and implement a great business idea.

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Topics: Starting A Business, Business Ideas, Scaling A Business, Business Start Up, Start A Business, Startup

Why Most Small Businesses Fail

Posted by Matt Roberge on Nov 5, 2014 7:00:00 AM

You can read a ton of articles about small business failure. This Forbes articles gives 5 great reasons why 8 out of 10 small businesses fail within the first 18 months. You can come up with all sorts of reasons for why businesses fail. However, I'm going to take a broader more general outlook on small business failure. I have been pondering lately why so many small businesses fail and think I have it down to just three general reasons; time, money, and knowledge. These three reasons are not necessarily why a business fails but rather why nobody starts their business correctly from the very beginning. 

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Topics: Grow Your Business, Small Business Growth, Scaling A Business, Business Start Up, Business Failure

Putting Your Small Business In A Logical Order

Posted by Matt Roberge on Aug 15, 2014 7:00:00 AM

When you started your small business did you set things up in a logical order? Most entrepreneurs find out the hard way that there is a logical order to setting up your small business. Most businesses start out so small that they don't think it is important or worth the time and money to set up their business the right way from the beginning. Like most new entrepreneurs they focus on sales and making money because otherwise they will be broke and their business will fail. If they have success they find out later that they may not have set up their business the best way from the beginning. This often results in lots of consulting to restructure the business and fix all the mistakes that were made. Here is some advice on setting up your business correctly from the beginning and handling things in a logical order.

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Topics: Starting A Business, Small Business Growth, Business Process, Scaling A Business, Business Start Up

Great Business Ideas Shouldn't Be About Making Money

Posted by Matt Roberge on Jun 4, 2014 7:00:00 AM

Great business ideas should not initially be about making money.  Wait a second; what? Being in business is all about making money and profits is it not? I think this question is best answered by a great Simpsons quote by Reverend Lovejoy: "short answer yes with an if, long answer no with a but."  Okay I'm probably not making much sense right now but your business idea initially can't be all money driven.  Think about the last time you had a great idea for a new business or product.  Within a minute didn't you start thinking about a buying a new huge house, a fancy car, or travelling? I think that when most people come up with a great idea they skip right to the end result without thinking about all the hard work in between.  So, like I said in the beginning if you have a great idea let's not worry about making money right away.

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Topics: Business Ideas, Small Business Growth, Scaling A Business, Business Start Up, Business Leadership

Why Do People Start A Small Business?

Posted by Matt Roberge on Feb 19, 2014 7:00:00 AM

I was recently asked to be the guest speaker at a SLC SCORE monthly meeting.  I was honored to speak at a monthly meeting of extremely successful local business owners that I admire.  They wanted me to talk about being a scholar in the Goldman Sachs 10,000 Small Businesses Program.  During the meeting the SCORE chapter chairman stood up to make some announcements.  During the announcements he said something that made the whole room chuckle including myself.  He said, "We get a lot of people that tell us they want to start a small business for more flexibility, more money, less hours and no boss breathing down their neck!"  That made me laugh to myself a bit and I noticed most everyone else was also chuckling.  I think I had those thoughts when I started my own business but soon found out the reality.  So are those ideas crazy? What is the reality of starting your own small business?

Flexibility

Many small business owners start their own business with the idea that they will get a ton of flexibility in their lives.  Sure, that is true to a degree but you have to be very careful and maintain your focus, especially when you are just starting up.  If starting a small business were so easy then everyone would do it, right? Believe me having the flexibility to take my dog for a walk, hit the gym or go for a few ski runs during my day is a huge part of why I am in business.  However, I am very sure to stay focused and make that time up to both my business and myself.  If you find that you are constantly giving yourself flexibility in your small business then you will never get anything done and you may put your business in jeopardy of failing.  As a small business owner take the perk of flexibility, just don't take it too far.

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Topics: Entrepreneurship, Small Business, Scaling A Business, Business Start Up, Start A Business

If Starting A Small Business Were Easy Everyone Would Do It!

Posted by Matt Roberge on Oct 16, 2013 7:00:00 AM

Does it make sense that if starting your own small business were easy then everyone would do it? Offering bookkeeping services to various very small businesses is like having a non-stop education in entrepreneurship and starting a business.  We see a lot of different business approaches, owner personalities and outcomes.  There are two things that I think all successful small business owners have in common; a passion for what they do and the determination to succeed no matter what.  Since I started offering accounting marketing consulting services I have met with a lot of different people wanting to launch their own service.  They face the same main obstacle that anyone looking to start their own business does; it is very hard work.

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Topics: Entrepreneurship, Small Business Growth, Scaling A Business, Business Start Up, Starting A Business, Small Business Owner

5 Things You Need To Protect As Your Small Business Grows

Posted by Matt Roberge on Aug 30, 2013 7:00:00 AM

As you grow your small business there are several things that you need to protect.  Some things you need to protect are fairly obvious and others you may not realize until it is too late.  Small business owners get wrapped up in growing their business because they are so passionate about it.  However, if you are not careful to protect the important things as your business grows you may regret having started your business in the first place. 

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Topics: Entrepreneurship, Grow Your Business, Small Business Growth, Business Start Up