As business owners, we may be so busy making sure the bills get paid and the product gets out the door that we may not be quite as proactive about our own compensation. To pay themselves, many new business owners take what’s left after employees and vendors have been paid, and that ends up being […]
Read more...Category: General Business
Do You Have Past Due Accounts?
If you perform a service or ship a product before you get paid, then you likely have a balance in your Accounts Receivable account. If customers pay when their invoice is due, all is right with the world. If they don’t, then your cash flow slows down and your bank balance is not as high […]
Read more...Eight Ways to Increase Your Profits
Increasing your profits might sound like it’s an unattainable dream just out of your reach. But there are a finite number of ways that profits can be increased. Once you understand what they are, you’ll have clarity on how to best reach your goals. There are two primary ways to increase profits: Raise revenue Lower […]
Read more...Five Ways to Supercharge Your Customer Service
It’s the little things that add up to make an exceptional experience for your customers. Here are five “little things” you can add to your services to create an exponentially memorable connection with your customers. Generosity Add a little extra something to the products or services you offer. It might be a handwritten thank you […]
Read more...Five Numbers You Should Know About Your 2016 Performance
Before we get too far into 2017, let’s take a look back at 2016 results and five meaningful numbers you may want to discover about your business’s performance. To start, grab your 2016 income statement, or better yet, give us a call to help you compute and interpret your results. Revenue per Employee This number […]
Read more...Understanding Payment Terms
If there is a period of time between when your customers receive your goods or services and when they pay for them, then several things are true: You have a balance in Accounts Receivable on your balance sheet that represents how much customers owe you You have an invoice process that you follow You have […]
Read more...Marketing by the Numbers
Two very important skills for entrepreneurs to master are marketing and finances. Combine them by understanding the numbers behind marketing, and you have an even more powerful understanding of exactly what makes your business tick. Key Numbers – Cost Per Client Acquisition Do you know how much it costs your business to bring in one […]
Read more...Do the New Overtime Rules Affect You?
Effective December 1, 2016, federal overtime regulations will change and may affect how you are paying your employees. These overtime updates will affect 4.2 million workers across the country. The new rules will raise the salary overtime-eligibility threshold from $455/week to $913 ($47,476 per year). This new threshold will increase every three years. Salaried workers already […]
Read more...Seven Small Business Risks You Might Not Know You’re Taking
Running a small business is often about taking and managing risks. Market risks are normal but business and tax risks are another thing altogether. Most business and tax-related risks can be managed as long you know about them. Here are seven small business risks you will want to make sure are covered. 1. Best Choice […]
Read more...New Overtime Rules Go into Effect on December 1, 2016
The FLSA ensures minimum wage and overtime pay protections for most employees covered by the Act. Some workers, including bona fide executive, administrative, and professional employees, are exempt from those protections. There are tests to determine which employees are EAP employees. But even if an employee meets the tests to be exempt they also must […]
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