Most business owners never look at their cash-flow statement. Even for me, as a professional accountant, they can be rather cumbersome to create and boring to look at. Finally, we have a cash-flow report format that you can really see. A cash-flow report that puts the color back in and takes the word flow placing…
Every business owner knows what it is like when you first start up in business… Any sale is a good sale. It is also known as the breath-test. Is the person breathing? Yes!! Great!! A potential customer!! Credit checks can come later. Personality tests, well so what if they are a toxic personality – we…
I love Amazon as a company. I know, I know, I know – they are huge, and there may be many of you going “but, but, but” reading that sentence, as you form objections in your mind. Or perhaps you agree. They really wow me with their service. How many huge companies can you call…
A current trend in business right now is shifting from employees to self-employed freelancers, or contractors. There are tremendous benefits, some disadvantages, and risks too. You must structure things correctly, and the main thing is that the freelancer must share in the benefits of gain as well as the risk of loss. The main benefits…
In two main areas of your business you don’t have to do what everyone else does. And these two areas are critically important to your success. The key is – once you set your Rules of Engagement, then you must ensure that you deliver on your promises. These two critically important areas are – (1)…
In business to differentiate yourself from the rest of the herd, it is always the little things – systematized – that make THE Difference… It is never the big bang theory of customer service. Mwiti The Taxi Driver Let me give you an example from rural Kenya. My wife and I have spent a number…
There is one work-flow in all businesses that – once automated – can save you time and money. It is your accounts payable. A lot of businesses have not taken advantage of inexpensive software that can fully transform this bottlenecked part of most businesses. How Most Businesses Do It Now Here are some of the…
Anyone who has followed my writing in this blog will know that I am a huge advocate of cloud-based accounting, and fully automating your accounting so that you are 100% paperless. It was recently in my time in Kenya that I re-discovered a tool that can really enhance cloud-based fully-automated accounting systems… Here is how…
Is Money the Source of Wealth? What is wealth? How do we define wealth in the West? I think most would agree that universally in developed nations it is by the size of your bank account. By how much liquid cash you have available to spend. It is not even by the amount of assets…
Data Entry the Old Way Before this killer app came along data entry was tedious, boring, and repetitive. In the past, to save money, businesses started outsourcing data entry to India and the Philippines where labour costs are cheaper. Now this killer app, made in Canada, called HubDoc is the biggest game-changer in monthly accounting…