We noticed many clients ask the same questions. Our blogs are a reflection of frequently asked questions and their answers to issues raised. We hope this insight will help you address the challenges facing your business.
Year end is a busy time of year for finance & accounting staff. It is that time of the year where we draw a line in the sand and take a gauge on how a business performed over the last 12 months. Most businesses run their fiscal year in sync with the calendar year, and this common date creates a hectic period for finance & accounting staff in the midst of America’s annual holiday extravaganza. In spite of the flurry of fun activities, we do need to take a moment and think a
When hiring someone to take care of your financial portfolio, you must be very diligent with whom you choose. In this blog, we will discuss 6 must-havetraits of your next bookkeeper. 1) Experience: This is not a trait you can take lightly, and will require some thorough candidate evaluation and possibly budget stretching on your part. The experience piece encompasses not only years in the field but the type of accounting work that candidates have performed. It is possible t
In our last blog, we discussed equity financing as a tool to fund your new venture. In this blog, we will discuss borrowing money to launch your new enterprise, also known as debt financing. There are several different debt options we will discuss. Debt allows you to leverage your assets to build your business. Financing is very hard to obtain for a startup, but some entrepreneurs are able to do so. Incurring debt allows you to lever your limited resources. By levering y
Funding a business is very much like gardening. Plant some money, and if the growing conditions are right and you tend your garden carefully, you will reap more money and yield more fruit. However, unlike gardening, locating the seeds (dollars) needed to begin your business is often the most difficult step in beginning your small business venture. Choosing the funding method that is most suitable for your unique situation is a critical step in laying a strong foundation for
“Strategy 101 is about choices—you can't be all things to all people.” Michael Porter’s advice is key to understanding how your business identifies a target market and develops a solution to meet the identified need. One of the fundamental parts of any business plan is the market analysis. The business owner will quantify the “problem” your product or service will solve by measuring the total market for the products and services you will offer and illustrate the landscape
Credit risk, or the risk of customer payment default, is very important for all businesses, but it can be a matter of success or failure for a small business enterprise. A small business must manage their credit risk well in order to ensure their business can function. Credit risk is a key issue that has to be managed diligently in order to keep your business on the path towards growth and prosperity. Many small business owners ignore credit risks associated with building
A CFO is a key advisor to a President, CEO, COO, and the Board of Directors. Often, the Chief Financial Officer is the voice of reason and can help translate exuberance into a realistic financial plan that maps out a successful course for a company. The CFOs are the leaders who measure success and perform the financial analysis that is used to increase profitability. Not every company can afford to hire a CFO. It is not necessarily economical to have a strategic CFO for sm