Even if you’re sitting on a fantastic idea for a new business, you know you’ve got a long, tough road to travel before you see success. Planning for the worst and hoping for the best is still the best way to plan. To that end, you have to understand what challenges your young company...
After I graduated from college, my first job was a temp position bookkeeping for a small photographer’s management agency. On my first day at work, I was handed a column pad and a shoebox full of receipts and told, do something with this. I examined the hand-written spreadsheet, got acquainted with the categories, and...
With tax season around the corner, small business owners are already stressing about their books. In fact, 40 percent of small business owners said dealing with bookkeeping and taxes are the worst parts of owning a company. This is where working with a forward-thinking accountant can help ease the pain. Even though there are many software...
When it comes to running your small business, having a handle on your finances is essential to your success. This is why you cannot afford to work with a bad accountant. Not sure if you are currently working with the right professional? Read on and learn the top reasons why businesses choose to break...
One of the biggest killers of small business success is when an owner does NOT know their numbers. Financial literacy is essential if you want to grow a business. I recently interviewed Sabrina Parsons, CEO of Palo Alto Software. She shared with me the power of LivePlan, business plan software that helps keep your business on...
As I talk with entrepreneurs to learn about what they do and how they manage their finances, it seems that many are missing an important component of what they need to maximize their success—and this missing component is actually a member of the financial team. During these conversations, I talk to them about the...
[content field="callout1" format="true" class="calloutwide"] A number of years ago a friend, an MBA from an Ivy League business school, asked me what the difference between finance and accounting was. Up to that point I had not thought about it myself since my career had me in both worlds. We talked about it for a little bit, and afterwards...
[content field="callout1" format="true" class="calloutwide"]"Work on your business, not in your business" is one of most common bits of advice most small business owners hear. But what might that entail? Another thing small business owners are advised to do is to surround themselves with a trusted team. People that they can count on, bounce an...
[content field="callout1" format="true" class="calloutwide"] This week on Ignition, Raj Thakkar, CEO and founder of FOREsight Financial Services for Good shares everything business owners need to know about organizing your business finances. This is box titleQuestion of the Week: I run a popular local restaurant. We have two locations and could do a third but before I go down...
6 Ways to Save Your Accountant's Life Having an accountant for your small business is essential. As a small business owner, you may be used to wearing multiple hats, but unless one of those hats says “finance professional,” it’s in your best interest to pull an accountant you trust into the picture. Too often small...
