Do you know it all? Especially, when it comes to finance the answers is most often–no. Make this the month you decide to surround yourself with a support system to bring you financial know-how.
1. Get a CPA. Even if you only meet twice a year, once for tax planning and once to do your taxes–you gain knowledge, get good advice and your taxes are prepared properly. That is a whole lot of value for a reasonable investment.
2. Put in place a standardized, financial record-keeping system. At its most basic level, really know what’s flowing in and out of the business. Pay your bills on time easily. And, track collections and collect payments. Quickbooks is a popular accounting software and the one used by many accountants, so you may want to pick a system your accountant uses. It makes it easier to transfer data and get your chart of accounts set up.
3. Learn more about finance. Get a basic understanding of key financial decisions for your business. Learn what different accounting reports tell you and why it matters. Most of all get a handle on the relationship between sales, expenses, cash flow and net profit.
This is where SCORE can really help. SCORE mentors both the corporate execs. and entrepreneurs have a good understanding of cash flow, business finances and how to plan systems to make it easier to succeed. Visit for articles, templates, tips cash flow/cash reserve visit Accelerate Your Cash.
You can meet with a SCORE mentor in your community face-to-face to have the conversation that helps provide know-how in business finance. Find SCORE near you.
Online you can Ask SCORE questions about finance and cash flow that can help answer a burning question and give you some perspective that can aid you in managing cash flow.
Recently I asked in one of my previous blogs “What sets you apart from your competitors?” What have you done for them to easily locate you, your company, your product or services?’ I even provided some easy online marketing rules to live by using your website. Now I want to expound on online marketing.
To set yourself apart from your competitors you “must” have a BRANDED website. A BRANDED website not only focuses on your company’s name but it also Speaks Volumes For You in several ways. Everytime online content about your company is displayed it should be BRANDED content. Your BRANDED content should be the same content that is being displayed in your collateral materials. Pay close attention to your website’s keywords (aka Search Engine Optimatization-SEO) does it fully tell us about your company?
If you are a Bookkeeper for Non-Profit Organizations and a potential client began looking for you are they able to find you? They would if you display the proper BRANDED conent for your company’s website. With the proper content eventually your company will be placed high within the website rankings, offering you a “high” probability of being contacted about your company, its product or services. If you are on a tight budget, take the time to frequently submit your url to several of the free search engines. more…