Small business accounting is something that is important for small business owners to keep their eye on, but most of us don't. Something I often talk to my clients about is the accounting or financials they should have in place for their small business. Let's face it, as small business owners we have a lot on our plate, most of which is making sure the client gets what they want, be it a product or a service. And Read More
New regulations help employers with 401k plans reduce liability exposures
When business owners offer their employees a retirement plan benefit they have a personal responsibility to make sure that the fees charged are reasonable. Realizing that many employers are unaware of all the fees they’re paying, the Department of Labor is requiring plan providers to more clearly disclose the fees being charged. Fees vary a great deal, but generally speaking, the smaller the plan, the higher the fees Read More
Starting a Small Business?
So, you're starting a small business...congratulations! You are embarking on one of the best rides of your life. I say that because starting a small business is enthralling, but definitely has its highs and lows. Furthermore, starting a small business takes consistent work. Yes, the grass can be greener, but it can be bleak. I'm sure you have read all the statistics about how small businesses fail at an alarming Read More
What is a Trusted Advisor?
An entire book has been written on what a trusted advisor is, but basically a trusted advisor is a person you might trust to be in the inner circle of your business or someone you might rely to help you run your company in an efficient and effective manner. You may need more than one trusted advisor, for instance, you might want to have a trusted advisor for accounting, legal, financial advising, banking, insurance, Read More
Seven Money Tips to Manage Your Business When Money Is Tight
You can loose sleep over money even on a good day… But when you’re running a small business and the country’s economy takes a hit like ours has in the last couple of years, money problems can take you and your business under in a flash. A few tips to consider on the financial side of your business when money is tight: 1. Remember cash is king. Before you decide to make a capital purchase for your company that will Read More
Elements of a Business Plan
Business plans can flow easily from your pen ( or computer) or they can be a process that takes many hours. Whatever amount of time it takes to draft your business plan, think of it as time well spent because you will appreciate that plan as you move forward in your business. A good business plan will include each of the following elements: Executive Summary The executive summary section of your business plan Read More
