“I’m not a numbers person, and neither is my partner,” is what I heard her say at our first meeting. It was funny, but not as funny as she thought! It threw me for a loop. Not because I was surprised or anything, but because their company was almost two years old. I feared
“I have this amazing business plan, and I even have my first customer. Where do I go from here?” I hear this quite often from business owners that are just starting out. Business plans are a great way of getting a business idea onto paper. It is also a great mapping tool for where a business owner wants to take the business. While business plans are great to display the overall stance of the business, they cannot be counted on to
Nov 10
18
Are you enjoying your life or enduring it? I was reminded of this question this morning. I actually had to take a second and think about it. It stinks that I had to pause, but it’s the truth. Yes, I do feel that I enjoy my life for the most part, but how about my business? Do I enjoy my business? Or am I just enduring it? It has been a long week. Actually, it has been a long month and year!
Right before I heard that question, I was thinking about this day & how I was going to get through it. My long to-do list was at the forefront. Then, I heard the question of the day, and the answer was hard to face. I have been so stressed with all that I am
Nov 10
11
I often hear people using the terms accounting and bookkeeping interchangeably. These are two similar terms, but different in the same sense. This isn’t as tricky as it may seem. I promise!
You see, bookkeeping is the systematic recording of the financial transactions in the chart of accounts for the business. Consider this like the assembly line of a car factory. The assembly line workers put the individual parts into the various areas of the car. By the end of the assembly line, the parts are in place.
Nov 10
1
“I got skills!” you say. Yeah, sure you do. But just what are you skilled at? Hopefully you are skilled in your trade or in your business. Everyone has their talents. Meaning the things that they are exceptionally well at doing. Not too many business owners would say that finances were their strong suit. Unfortunately many of those very business owners are doing the books for their company. Is that you? Are you the non-money smart business person that is throwing together your businesses finances?
Business is money in and money out. It is generally as simple as that. As an accountant and business consultant, I have had the privilege to work with many different companies in multiples roles. These different companies have had similarities. Every business earns income. Every business has expenses. It is the very foundation of business.