An accountant can either make or break your business. Even if you have some accounting knowledge or use an accounting software it is always advisable to hire a professional. Accountants are required to ensure that they stay up to date as accounting standards and tax laws change frequently. It is therefore vital that you hire …
Small businesses often struggle to maintain ideal cash flow because they fail to optimally manage receivables. The first step in managing receivables is to know exactly what they are.
Very often entrepreneurs spend lots of time and money to write business plans that they never use. A business plan is at its best a static document, a snapshot in time, which outlines your hypotheses of how your business works or how you think it should work. Very often when businesses get going the reality …
Forget Business Plans! Create Your Business Model In 4 Steps Read More »
A key part of running a business that is often neglected by new entrepreneurs is record keeping. How exactly does proper record keeping help a growing business?
With the economy getting tighter it is now harder to operate a successful business. What does it take for your business to be efficient? Well, it’s different things for different businesses, but some things are constant. Successful businesses maximise their output while minimizing their costs. It demands maintaining a delicate balance between output quality and …
7 Smart Ways to Make Your Business More Successful. Read More »
Accounts Payable is not one of the first things you think about when starting a new business. One of the greatest feelings you get when you have your business up and running is when you get paid for the first time. You are euphoric that people are willing to pay for the product or service …
One key aspect of doing business that the new or old entrepreneur should know is Inventory Management. In its most basic form inventory management is about knowing specifically how much material and or goods you have in stock and where they are located. There are different types of inventory; for the retailer its how much …
The overheads associated with running your own business can be staggering. There is, however, an option for entrepreneurs and small business owners to cut these costs significantly – create a Home Office. For centuries, operating a business from home has proven to be extremely beneficial. From cottage industries that thrived before the Industrial Revolution to Silicon Valley’s …
So you finally have your own business. Customers are rolling in and all seem to be going well. Suddenly, the paperwork that needs processing are piling up and hiring an accountant to take care of your books isn’t in the cards for your small business just yet. The alternative? Do it yourself. Many small business …
How do you build wealth? According to Rich Dad Poor Dad, GetRichSlowly.org, Warren Buffett and financial life coaches everywhere, locking all your money away in the bank is NOT the way to do it. They may have different roads to get there, but there is one agreed path that makes little sense. Now we are …
Why Putting Money in the Bank is Bad for your Wealth Read More »
