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Salt Lake City Bookkeeping Blog

3 Unexpected Ways Outsourcing Your Bookkeeping Will Grow Your Business

Posted by Matt Roberge on Oct 23, 2019 8:30:00 AM

As a small business owner, you hear this question all the time: "How's business?"

A very typical response is: "Great, but I'm just so busy."

Most business owners are just busy being busy, but I wonder:

How many of them know how their business is actually doing?

Being busy and being profitable don't necessarily go hand-in-hand. Do you know if your business is growing? Do you have a financial plan in place to accommodate for that growth? Do you spend too much time on payroll and balancing your finances each month? Does year end tax planning give you heartburn? I will explain how an outsourced bookkeeping service can actually help you understand how your business is doing, reduce stress, and plan for growth.

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Topics: Financial Forecasting, Grow Your Business, Exit Planning, Strategic Planning

What Exactly Is Strategic Planning – and How Can it Help My Small Business?

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

A lot of entrepreneurs are unclear on what strategic planning really means, and how it can benefit their business. In its simplest form, a strategic plan is meant to help you determine exactly where you want your company to go over the next 3-5 years - and how it’s going to get there.

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Topics: Small Business Growth, Exit Planning, Strategic Planning, Growth Coach

What Do Better Business Decisions Actually Look Like?

Posted by Leanne Armstrong on Jun 19, 2019 9:00:00 AM

As a small business owner, you probably hear the term “better business decisions” on a regular basis. But what do those decisions actually look like – and how can you be sure the choices you’re making are the very best ones for your organization?

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Topics: Strategic Planning, Growth Coach

Why Small Wins Play a Key Role in Achieving Your Business Objectives

Posted by Leanne Armstrong on Jun 12, 2019 9:00:00 AM

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.

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Topics: Strategic Planning, Growth Coach

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

Don't Wait for Disaster to Strike Before Planning Your Business Recovery

Posted by Leanne Armstrong on Nov 7, 2018 9:00:00 AM

How prepared is your business to recover when disaster strikes? Having a detailed plan in place to resume operations with as little disruption as possible is a must. Yet statistics suggest that 75% of small businesses operate without a tried and tested disaster recovery plan. As a result, almost half of these companies will be forced to close their doors during an unexpected event, and only 25% will ever reopen.

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Topics: Strategic Planning, Growth Coach

How to Breathe New Life into Your Business Plan

Posted by Leanne Armstrong on Jul 11, 2018 9:00:00 AM

If your small business is showing the signs of long-term success, chances are good a solid plan was involved. But no company can afford to become complacent about its accomplishments. Your business is a dynamic entity, and your strategy must continually evolve to reflect that. So, when’s the last time you stopped to breathe new life into your business plan?

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Topics: Exit Planning, Strategic Planning, Growth Coach

Harnessing the Relationship Between Bookkeeping and Business Strategy

Posted by Leanne Armstrong on Jun 6, 2018 9:00:00 AM

Effective accounting strategies are vital for business growth. In fact, gathering, recording, and analyzing your company’s financial information is the best way to gain valuable insight into your short-term and long-term operations.

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Topics: CFO Consulting, Strategic Planning, Growth Coach

Reviewing Our Key Business Decisions

Posted by Matt Roberge on May 16, 2018 9:00:00 AM

We have been in business for over 11 years now. Over that time period, we have made some great decisions that have led to successes and also some terrible decisions that have led to failures. 

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Topics: Strategic Planning, Growth Coach

What’s the Difference Between Bookkeeping and Accounting?

Posted by Leanne Armstrong on Apr 18, 2018 9:00:00 AM

The terms bookkeeping and accounting are often used interchangeably, but there are some key differences that distinguish one from the other. While both functions play essential roles in managing your company’s finances, it’s important to understand the nature of their relationship, and how bookkeeping and accounting ultimately work together to ensure the success of your business.

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Topics: CFO Consulting, Strategic Planning, Growth Coach