<img height="1" width="1" src="https://www.facebook.com/tr?id=1168427849921758&amp;ev=PageView &amp;noscript=1">

Salt Lake City Bookkeeping Blog

Proof That Small Business Exit Planning Matters

Posted by Matt Roberge on Sep 20, 2017 9:00:00 AM

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? 

Read More

Topics: Exit Planning, Growth Coach, Small Business Coach, CFO Consulting

4 Reasons Why You Need a Small Business Consultant

Posted by Thomas Liquori on Feb 10, 2017 9:00:00 AM

You may be running a business with great skill, but the services of a business consultant can still give you a powerful advantage. No matter how efficient and effective you are at running your company, there are four excellent reasons to hire a service offering business consulting for small businesses:

Read More

Topics: Small Business Consulting, Small Business Coach, Small Business Growth

Why Hiring Matters To Every Small Business

Posted by Matt Roberge on Oct 3, 2016 9:00:00 AM

As a small business owner, the biggest challenge I underestimated—in terms of both difficulty and importance—was hiring. The reality is that hiring matters to every small business

Read More

Topics: Hiring, Small Business Coach, Growth Coach, Small Business Growth

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! 

Read More

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

[Infographic] Growth Through Financials

Posted by Austin Walker on Jan 13, 2016 9:45:57 AM

Growing a small business can be one of the biggest dreams of any owner or entrepreneur. It doesn't come easily, though, without some proper practices that help to increase the success of the business growth. For instance, company owners may want to look at making sure that the model they have is scaleable. If the model is not scaleable, the increase in clients and business could actually hurt them more than help. The growth process has to be managed in such a way that looks at how to scale the business responsibly, how to make marketing and sales dollars effective, analyzing financial reports, and making adjustments based on those results.

The actual cost can be different among all businesses, even if they are in the same industry. To get a better grip on how much it's going to take to get marketing and sales on the same page, Brad Sugars, a contributor on Entrepreneur.com, conveniently gives us the formula to calculate a customer's lifetime value. With the lifetime value, we have a better idea of how much target customers can be worth to the company, and how much money can be spent to acquire new ones. For most companies, it is about 5-6 times more expensive to acquire a new customer, when compared to growing revenue from clients who are already paying.

A tactic that is common but can be foolish is giving the marketing department a cut of last year's revenue. If a company is growing, it can be expected that the marketing budget amount should at least mirror the amount a company is  planning to grow. For example, if the business would like to grow an additional 12% next year, on top of the 5% of revenue that marketing is currently receiving, the budget should be increased to match the 12%.

A marketing expert can be utilized to understand how much money should be invested in your growth, and can also help plan for where that money is going to go and what should be accomplished.

Read More

Topics: Financial Forecasting, Small Business Coach, Growth

Three Ways SLC Bookkeeping Can Help Your Small Business Grow

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

At SLC Bookkeeping, we do so much more than just bookkeeping; we help small businesses grow. Some bookkeepers understand QuickBooks, some understand accounting, and some understand good core business principles. If you find a bookkeeper who understands all of those aspects, turn them into a trusted advisor for your business because they can help you grow. We pride ourselves in understanding QuickBooks and core accounting principles. We also have a good understanding of what the financial reports of your business actually mean. Lastly, we have great knowledge about what makes a small business successful. Through growing our own business and helping hundreds of clients grow theirs, we understand what it takes to make it as a small business. The three ways SLC Bookkeeping can help your small business grow is through outsourced QuickBooks bookkeeping services, financial reporting, and business mentoring/coaching.

Read More

Topics: Financial Forecasting, Financial Reporting, Grow Your Business, QuickBooks Bookkeeping, Business Mentoring, Small Business Coach, SLC Bookkeeping

Why Every Small Business Owner Needs a Mentor

Posted by Matt Roberge on Feb 17, 2015 7:30:00 AM

I am a firm believer that every small business owner needs a mentor. Even the best business owners have questions and need support at some point. Let's take a look at professional athletes for a second to get a different perspective.

Have you ever noticed how many coaches and mentors professional athletes have? The best athletes in the world, the ones at the top of their game have a plethora of coaches. A typical professional athlete has an entire coaching staff to rely on. Additionally many of them have an individual trainer or coach. They have someone to rely on when they go into a slump and someone to give them a different perspective. A good coach will pass on their years of knowledge that they have learned from their own career and experience in coaching. So if the best athletes in the world need a coach or group of coaches, why don't you as a small business owner?

What can a good coach do for your small business?

Read More

Topics: Small Business Growth, Small Business Consulting, Business Mentoring, Small Business Coach, Small Business Mentor

Why Most People Suck At Managing Their Finances

Posted by Matt Roberge on Jan 8, 2015 7:16:00 AM

Most people are not very good at managing their finances. People that develop poor personal financial habits typically let those habits affect the management of their business finances. As Americans we live in a world where debt is acceptable and many people adapt the habit of living beyond their means. Many bad financial habits are handed down from people’s upbringing. Other bad money habits are developed due to the influence of the society we live in. Here are a few reasons people suck at managing their finances and how to break those habits. 

Read More

Topics: Financial Forecasting, Financial Reporting, Business Budgeting, Small Business Growth, Grow Your Business, Business Mentoring, Small Business Coach

Small Business Owners - Do you Look Forward to Friday or Monday?

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

Do you really love your small business? If so do you look forward to Friday or Monday more?

Read More

Topics: Grow Your Business, Small Business Growth, Scaling A Business, Small Business Consulting, Business Mentoring, Business Coach, Small Business Coach