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Salt Lake City Bookkeeping Blog

Have You Structured Your Business to Optimize Growth?

Posted by Leanne Armstrong on Apr 17, 2019 9:00:00 AM

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.

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Topics: Small Business Growth, Strategic Planning, Growth Coach

Boost Revenue, Cut Costs: The Psychology Behind Anchoring

Posted by Leanne Armstrong on Apr 10, 2019 9:00:00 AM

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.

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Topics: Grow Your Business, Growth Coach, Business Accountant, Pricing

Why You Should Be Using Personal Branding to Promote Your Business

Posted by Leanne Armstrong on Apr 3, 2019 9:00:00 AM

As far as your clients are concerned, you are your company. So doesn’t it make sense to capitalize on whatever it is you bring to the table? Making use of personal branding to promote your business is a great way to take a more active role in its direction and growth.

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Topics: Marketing Small Business, Inbound Marketing, Branding, Growth Coach

From Open to Close: A Journey Through the Small Business Accounting Cycle

Posted by Leanne Armstrong on Mar 27, 2019 9:00:00 AM

From open to close, the accounting cycle is a series of steps that lets you collect and organize bookkeeping data in a way that clearly shows your company’s changing financial position. As a small business owner, you can benefit from a basic understanding of how the accounting cycle works, even if you don’t perform your own bookkeeping duties.

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Topics: Small Business Growth, Bookkeeping Professional, Growth Coach, Profit Coach

Why Pursuing Perfectionism May Be Costing Your Business Money

Posted by Leanne Armstrong on Mar 20, 2019 9:00:00 AM

There’s an epidemic sweeping our nation, and its name is perfectionism. The last few decades, says social psychologist and perfectionism expert Thomas Curran, have seen a disturbing increase in our drive to be perfect in body, mind, and career. But the reality is that perfection is an impossible objective by definition – the compulsive pursuit of which can, among other things, compromise your health, your goals, and your company’s bottom line.

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Topics: Business Efficiency, Scaling A Business, Delegating, Growth Coach

Need More Customers? Previous Buyers Hold Enormous Potential!

Posted by Leanne Armstrong on Feb 27, 2019 9:00:00 AM

More customers mean more sales, and an eventual increase in your profitability. But many business owners are so focused on going after fresh clients that they neglect the ones they’ve already managed to attract. Given that it typically costs five times more to acquire a new customer than it does to hang on to a current one, it can be well worth your while to explore the enormous income potential offered by previous buyers.

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Topics: Small Business Sales, Growth Coach, Customer Relationship Management, Customer Experience

Three Necessities For Small Business Growth

Posted by Matt Roberge on Feb 6, 2019 9:00:00 AM

It seems to me that most small business owners number one priority and goal is growth. Everyone wants to grow their small business.

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Topics: Financial Forecasting, Small Business Consulting, Scaling A Business, Growth Coach

Break Even and Beyond – Why You Need a Cash Flow Forecast

Posted by Leanne Armstrong on Jan 30, 2019 9:00:00 AM

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.

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Topics: cash flow forecasting, Financial Forecasting, Cash Flow, Growth Coach

Try These Money Saving Suggestions for Small Business Owners!

Posted by Leanne Armstrong on Jan 16, 2019 9:00:00 AM

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.

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Topics: Business Budgeting, Business Savings, Growth Coach

How to Leverage Product and Service Life Cycles to Predict Revenue Growth

Posted by Matt Roberge on Jan 9, 2019 9:00:00 AM

Did you know that almost every business follows a typical life cycle with regard to what it chooses to sell? The life cycles of products and services illustrate their growing or shrinking market positions, and are usually determined by how long they remain in demand.

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Topics: Financial Forecasting, Small Business Growth, Growth Coach, Pricing