You may have started this business on your kitchen table, or in your garage, or, even in a trendy new co-working space. But now you’re officially a “big” company, pulling in a couple million — with your own office space and a staff and a lot of growth on your horizon. You are a real
There was something suspicious about that charge on the bank statement. The client didn’t remember making that purchase. They just happened to open the statement email and log into their account to see their statement balance. Noticing it was unusually low they–“just out of curiosity”– looked to see what they were spending their money on.
Again! The customer didn’t pay again! It was the third month in a row that my client’s customer had some excuse as to why they couldn’t– or wouldn’t– pay. When I looked at my client, I had to ask: “When did you become a bank? Because I thought you were in a completely different line
We often run into companies that book costs under one category — Payroll. And that Payroll line is often found in the expenses section of the P&L, not up in Cost of Goods Sold. So who cares? Labor is labor — especially if you are paying salaries, right? It’s not a variable cost, right? Wrong.
From the silence on the other end of the phone, I knew I had lost them. I had spilled my guts and had broken every rule of sales in the process. I cringe now thinking how I tried to convince the business owner on the other end of the line why having a strong
6 years ago we got a dog. She was the scrappiest thing we ever saw. Before getting to the shelter, and before we even saw her, we had agreed on a name — Chloe. But when we got to see her, well, let’s just say she didn’t look as refined as a “Chloe”. She was
“Well… that sucked.” That was the summation of a business owner’s experience filing his taxes this year. He finished working with his CPA feeling underserved, unimpressed and blind-sided by a big tax bill he didn’t know was coming. Before this turns into a gripe session about accountants, let’s set one thing straight. CPA firms are
Ever think of your accounting department as being quick, savvy, and fast? No? You’re not alone. Seriously– I can’t think of a bunch of more slow-moving meticulous, analytical people in the universe. (And I’m one of them, by the way.) If there is one complaint we hear from owners is that they never get information
Just as it’s time to clean out closets and wash windows it might be time to do a little spring cleaning on your balance sheet. Why is cleaning up your balance sheet important? It’s the first place most banks and investors (and you) look when you measuring the health of a business. If there’s a
I get mad in March. It’s not because I stink at my basketball picks, or that the weather can’t decide if its still winter or spring. I get mad in March because it’s when the CPAs’ adjusting journal entries come rolling in, and often blow up any kind of analysis one could do on the
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