by MHolland | Dec 13, 2024 | Cloud-based Accounting, Remote Work, Systems
Branding Is Essential
A colleague of mine at LeapZone Strategies has written a good Blog on the power of branding…
Here is the start of her Blog:
| “Listen up, in the wild jungle of today’s business world, blending in is the first step to being forgotten. You need a Brand Foundation that’s not just solid, but magnetic. We’re talking about crafting a brand that doesn’t just get noticed – it gets craved. Why? Because in a sea of endless choices and constant noise, the brands that win are the ones that connect on a deeper level. They’re the ones that spark something inside people, something that goes beyond just ‘liking’ a product or service.” |
To read the whole Blog please click here.
AI Is Everywhere
AI is getting a lot of attention these days. It seems to be the constant topic in online business feeds.
A lot is hype.
Some is not.
I have used it for help in writing a Landing page. I gave it to my Team for feedback.
There was no feedback. They loved it. Saved me a ton of time.
Some software claiming to use AI are exaggerating a bit.
What I mean by that is this – ALL software is AI.
It is intelligently helping you be more efficient and productive.
Think accounting software versus a calculator.
But it is just software code, doing what you expect.
And, heck, that is pretty cool when you think back to the dark ages…before computers.
Some, however, is mind blowing.
Don’t believe me? Try ChatGPT.
Here is a good Blog from the Freedom app people, sharing a ton of apps you can explore for a 40% gain in productivity (their claim).
To check it out, click here.
BDC Talks About AI
To prove my point that AI conversations are bursting forth everywhere, I checked on my latest BDC Blog…
And, lo and behold, they are talking about AI.
Please click here to check it out.
Thanks for reading…
by MHolland | Nov 20, 2024 | Business Tips, Cloud-based Accounting, Systems
Today I am going to explore the benefits of outsourcing your internal accounting versus doing it yourself…
Firstly, doing it yourself is draining, time-consuming, and often frustrating. Outsourcing to professionals is not just easier; it is smarter, more cost-effective, and gives your business the edge it needs to thrive. Here is why.
Reclaim Your Time
Your time is your most valuable resource. Do not waste it reconciling accounts or chasing receipts.
- Focus on growing your business instead of managing complex online software.
- Spend more time building customer relationships and driving strategy.
- Let professionals manage the grunt work quickly and accurately.
Outsourcing frees you to focus on the big picture while your accounting is handled by experts.
Access Expert-Level Support Without Hiring
Hiring an in-house accountant can be expensive and time intensive. Outsourcing gives you access to top-tier expertise without the commitment.
- No need to train employees or keep up with regulations—they have it covered.
- Get advice tailored to your business’s unique challenges and goals.
- Collaborate with a team that is always up to date on the latest tax laws, tools, and trends.
It is like having an entire accounting department at your service—without the overhead.
Save Money, Avoid Hidden Costs
Think outsourcing is expensive? Think again. Compared to hiring in-house staff, it is a bargain.
- Pay only for the services you need—no salaries, benefits, or office expenses.
- Avoid costly mistakes that could lead to penalties or missed opportunities.
- Many outsourced firms include innovative software as part of the package, saving you even more.
Better financial management does not have to break the bank.
Gain Impeccable Accuracy and Compliance
Accounting errors can be costly—missed tax deadlines, inaccurate reporting, and even audits. Outsourcing ensures your books are done right the first time.
- Get accurate records every time, with no guesswork.
- Ensure compliance with ever-changing tax and regulatory laws.
- Stay on top of deadlines without lifting a finger.
When professionals manage your accounting, you get peace of mind that everything is in order.
Stay Agile as Your Business Grows
Your business needs change as you scale, and so do your accounting requirements. Outsourcing is built to grow with you.
- Add services like payroll, financial analysis, or tax planning as needed.
- Access advanced tools and technology to streamline processes.
- Stay flexible without being tied down by in-house resources.
Whether you are just starting to scale or managing a multimillion-dollar operation, outsourcing keeps pace with your growth.
Get Strategic Insights, Not Just Numbers
Good accounting is about more than just balancing the books. It is about empowering your business with data-driven insights.
- Spot trends in your finances to capitalize on opportunities.
- Plan with accurate forecasts and cash flow management.
- Make smarter, faster decisions with clear, up-to-date financial reports.
When professionals oversee your numbers, you get the insights to take your business to the next level.
Reduce Stress, Gain Peace of Mind
Let us face it—accounting can be stressful. It is not what you signed up for.
- Deadlines are met. Always.
- Records are neat, organized, and audit ready.
- Your business is well cared for, so you can focus on what matters most.
Outsourcing takes the hassle out of accounting, so you can run your business stress-free.
Thanks for reading…
by MHolland | Oct 30, 2024 | Business Tips, Selling Tips, Systems
A family business is more than a company. It is legacy, values, and generations of demanding work. It is unique. And just like every family is different, every family business has its own way to define success. So how do you know if you are on the right path?
Key Performance Indicators (KPIs) can help. KPIs keep your business on track. They are like the dashboard in an aircraft. Without KPIs you are flying your business blind.
Why KPIs Matter
KPIs are your business’s health check. They are the numbers that tell you if you are thriving or just getting by. They give you focus. They drive decisions. Think of KPIs as the vital signs of your business. With the right KPIs, you will know where you are winning and where you need to improve. Every business and organization needs this insight.
Step One – Align KPIs with Goals
It starts with a simple question – what is your 3-year Vision? Where do you want to go?
For some, it is growth – it is increasing revenue.
For others, it is improving efficiency or customer loyalty.
Your KPIs should match these goals. No random metrics. If your goal is growth, measure revenue or profit margins. If your goal is customer loyalty, look at repeat sales or retention rates.
Every KPI should connect back to what matters most. This keeps you focused and cuts out distractions.
Step Two – Make KPIs Measurable and Clear
Numbers matter. The best KPIs are specific and measurable. Think percentages, timeframes, or raw numbers. For example – “Increase monthly revenue by 15%” or “Reduce customer complaints by 25%.”
These are clear. They are easy to track and easy to understand. Avoid vague goals like “Improve customer service” without any numbers. Specifics matter. The clearer the KPI, the easier it is to measure it.
Step Three – Get a Good Mix of KPIs
KPIs should be balanced. A good mix looks at the big picture.
Financial KPIs like net profit or gross margin are crucial. But they are not the only numbers that matter.
Customer satisfaction, employee turnover, and process efficiency matter too. Each tells a part of the story. Financial metrics show profit and cash flow. Customer metrics show loyalty. Employee metrics show team stability and morale. Together, these KPIs give a full view of your business’s health.
Step Four – Keep KPIs Realistic
Ambition is great but keep KPIs achievable. Aiming for the stars is fine, but do not let it become unrealistic. Unrealistic KPIs can lead to burnout, disappointment, and poor decision-making.
Think about why you are in business in the first place. Most people go into business for freedom. No one wants to be a slave to your business. Do you?
Start with reachable goals and increase gradually. If you are tracking profit margin, aim for a 5% increase this year, not 50%. Realistic KPIs keep your team motivated and moving forward. Small, steady wins add up.
Step Five – Review and Adapt KPIs Regularly
KPIs are not set in stone. As your business evolves, so should your KPIs. Review them regularly. Every quarter or every year, check if they are still relevant.
Has a goal changed? Adjust the KPI.
Has the market shifted? Update it. Adaptable KPIs keep you responsive to change. Your business is dynamic—your KPIs should be, too.
KPI Ideas for Family Businesses
Need ideas for KPIs? Here are a few to consider:
- Gross Profit Margin – Shows your profitability after direct cost of sales.
- Customer Retention Rate – Loyal customers are your backbone. Track them.
- Operating Cash Flow – Essential for understanding your cash movement.
- Employee Satisfaction – High satisfaction often means lower turnover.
- Sales Growth Rate – Tracks how fast your revenue is growing.
- Inventory Turnover – Ideal for businesses with physical goods. Shows how often stock is sold and replaced.
- Debt-to-Equity Ratio: A key financial health metric. Lower ratios indicate stability.
Each KPI tells a piece of the story. Together, they give you a roadmap for success. They show you what is working and what is not. They keep you accountable. And they keep you moving toward your goals.
In Conclusion
KPIs are a tool—a powerful one. They are not just numbers; they are a compass.
With the right KPIs, you have a way to measure success. You have a way to stay focused. And, most importantly, you have a way to ensure your business thrives for years to come. So, choose wisely, measure consistently, and watch your hard work pay off.
Thanks for reading…
by MHolland | Sep 19, 2024 | Business Tips, Systems
We Love Xero
Xero is the core accounting software system we use for all our clients.
Why do we love it? Because it is soooo user friendly. It is intuitive, and the interface is easy on the eyes.
Our Team started using it many years ago, and they learned it quickly without training.
Most importantly, our clients love using Xero.
Do you know the total number of complaints about Xero I have received from clients since implementation in 2018?
Zero. Nada. Nil. None. That says everything.
Xero is always improving, and they often buy software that will improve user experience.
A few years ago, Xero bought HubDoc, a Canadian company. HubDoc extracts the key details from source documents and places that document right inside each transaction in Xero.
Now, Xero is buying Syft, a software that does analytics, reporting, forecasting and consolidations from Xero data. All in real-time.
We will investigate Syft for you and see if it will add value to you.
Check this out to learn more: Xero To Acquire Syft
Freedom From Doom Scrolling
As I have written about before, I use the Freedom app on my laptop and my cellphone.
It helps keep me from online distractions and more productive.
In fact, I am now more than ½ way through Dostoyevsky’s book, The Brothers Karamazov.
I get so much more out of reading a classic book than following the latest doom and gloom news cycle. Is any news good?
Check this out: Why You Can’t Stop Doom Scrolling
The Past is Not True
I found this blog by fluke.
The first part of the story triggered me. (My mind went to, “you irresponsible punk…”)
Then as I kept reading, I found myself deeply moved.
Have you ever let the past dictate your business future?
How can this perspective free you up now?
Check out this remarkable story: The Past is Not True
Thanks for reading…
by MHolland | Sep 12, 2024 | Business Tips, Systems
This week I will send you detailed information on four relevant topics for your business and organization…
- Working effectively and productively
- Cyber-Security essentials
- Do we as small business owners need Global Password Protection?
- How Well is Your Website Working?
Working Effectively and Productively
In todays wired world, distractions are as common as sand in the Sahara.
Focusing is difficult. Software and news feeds are designed to pull us away from what we need/want to do. They are time thieves.
Strangely, even though software is designed to diffuse our focus, there are tech tools created to help us.
These tools put a tech wall around us, leaving us free to focus on what really matters to us.
Check this out: New Way to Boost Productivity
Cyber-Security for Small Business
Cyber-Security is not only for big business.
We need to give attention to it as well.
Most security breaches in Canada do not come from outside hackers.
They come from right inside your company….
Yup, it is true. They come from…. your…employees.
On purpose? Nooooo.
They happen from opening attachments to email with malware built in.
Or highly sophisticated requests for payments to bills that appear to be coming from your suppliers.
Check this out: Computer Security Checklist Small Businesses
Global Password Protection
How many of you have passwords that you:
- Repeat for all your software?
- Almost never change?
- Create so you can easily memorize?
For me, guilty as charged. 😊
I am looking at software to protect everything inside a protected vault. The software creates complex passwords, not easily hackable.
There are three types of password vaults you can use:
- Browser based (lease secure, and usually free)
- Cloud-based (not free, more secure)
- Desktop based (most secure, not free)
Check this out: Are Password Managers Safe
How Well is Your Website Working
Websites are more than a brochure for your company/organization.
They should be designed to attract new clients and draw them into taking some action step.
Check out these five steps to create an effective website: Business Website Tips
Thanks for reading…
by MHolland | Aug 30, 2024 | Business Tips, Selling Tips, Systems
The end never justifies the means.
The means are the end.
How you do one thing is how you do everything.
These are the simple secrets to a happy business.
I see businesspeople claim to endorse awesome service. They talk nice to strategic partners and customers.
Then they turn around and talk trash to their Team and suppliers.
No, if you want a happy business, you need to give happiness away in everything you do.
Here is the secret – it does not start with your customers.
That may be your end point – happy customers who refer and keep coming back.
Remember? The means are the end. The end does not justify the means.
Start with your family. Treat them like the diamonds in the rough that they are.
What? Your family? What the heck has that got to do with business?
Everything.
See the other cliché above – how you do one thing is how you do everything.
If that is too much to bear, start with your Team. They are the ones who are your real clients/customers.
They are serving your customers.
How you treat them is how they will treat your customers.
Money follows happiness.
A happy culture attracts customers. And they want an experience, not only a great product/service.
And because you are happy you discover that the means and the end are one. Because you are being happy before the end goal happens.
A colleague of mine, Ryan Lazanis has this to say about creating a successful business:
“I asked my LinkedIn network to fill in this blank last week:
The key to a great firm is _____.
I received dozens of answers:
- Streamlined processes.
- Standardized systems
- People
- Vision
- Checklists
- Communication
- Leadership
- Etc.
Want my answer?
Here it is:
Happy people.
This is the key to any great business.
We want the team to be happy (including you).
And we want your customers to be happy.
You cannot run a great business without this.
And “happy people” is the culmination of most of the things that my connections chimed in about.
Optimize the business for “happy people” and there is no way you can have a bad business.”
And now for my next topic…
Are News Feeds a Distraction, Or Worse An Addiction?
When you take a work-chill break do you scan through the news?
I admit I do. Until now.
Do you know what though? Before the Internet I used to read books voraciously. Classic books like the lives of Saints (Confessions of Saint Augustine, Saint John of the Cross, Dickens, Lord of the Rings).
Now most of my many Kindle books are about 10-15% read. I wonder why?
Could it be my attention span is lower now?
Possibly. I do have a laser focus at work, yet I am going back to having chill breaks by reading my Kindle.
Check out this Blog about news feed as an addiction.
Should Your Business Create a Niche?
Yes.
Create a niche and get rich, if not, life is a b^&%h.
Sorry, I am full of clever cliches today.
Too many businesspeople suffer from shiny object syndrome. They think the more they offer the more sales they can get.
Problem is that the more you offer the more problems you have, the more you lose your focus.
Okay, and here is my last cliché for the day. I promise.
He who is a jack of all trades is the master of none.
Here is a remarkably interesting fact for those of you thinking of taking the dive into creating a niche in your industry.
General Motors sells about 6.2 million cars per annum.
Ferrari sells about 13,200 cars per annum.
GM is valued at $55.3 billion.
Ferrari is valued at $88.45 billion.
I rest my case.
Thank you for reading…
