The basic small business accounting packages on the marketplace today can do some pretty amazing things. The small business accounting packages like Xero and QuickBooks Online are at their best doing these core tasks: Accounts Receivable management Accounts Payable management Reporting Cash-flow Ok, so can’t QuickBooks Desktop or Sage do all those just fine? Yes,…
“Organize around business functions, not people. Build systems within each business function. Let systems run the business and people run the systems. People come and go but the systems remain constant.” – Michael Gerber
For millions of Christians worldwide this is Lent – a period of 40 days from Ash Wednesday, which started this past Wednesday, March 6th and ends on Thursday before Good Friday, April 18th. What is Lent and what the heck does this have to do with business? Keep reading and I will reveal to you…
Most businesses produce, minimally, a Balance Sheet and Income Statement… Beyond that, not a lot gets measured. And, how do you know exactly what to measure anyway? There are things you could measure that you would not want to measure or need to measure. As an example, in our business we don’t measure hours, even…
When a business gives credit to a customer, they run a risk. That risk is small or big depending on a number of critical things… There are a few mistakes that many businesses make when giving credit to their customers, and it costs them a lot. Mistake Number 1 – Giving Credit Where Credit is…
How many read that headline, and think, “nice dream, I’ve heard that so often for so long…the paperless office is here, blah, blah. And we seem to print more paper now than ever before!” It is true though, and we have the tools and the proof. The proof is our own business and most of…
Our firm is 100% virtual – everyone works from home. And, for my wife and I home can be Vancouver, Salt Spring Island, Naxos Island, Greece, and Kenya, Africa. My productivity even goes up when in Europe or Africa (ask me!). In order to connect seamlessly with my Team and with our clients we use…
We are in the process of hiring a new Team Member, and in interviewing her about her current work situation it struck me how great people get penalized in many businesses. This person is paid by the hour, and she is efficient, so her boss keeps loading her up with more and more work. Sound…
Every single touch point in your business is an opportunity to wow, or not, your customers… In a competitive business world, (when is it ever not?), often the only way to rise above the crowd and risk being a tall poppy is through awesome service. Yes, all businesses must DO great work, yet how they…
Is it Right? When I look at the account balance on a set of financial statements, I always ask myself this “rocket science” question – “is it right?” And the answer can take some time to analyze. Let’s take a simple example – accounts receivable. Assume your Balance Sheet says you have accounts receivable –…