The almighty buck can actually be detrimental to your business. Think about it, if all you think about is how much you can make, are you really focusing on the other aspects of running a business. For example quality control, safety of your product, etc. If money is your only motivating factor, what corners are [...]

Effect of Expenses
The last article examined how to calculate your realistic billable hours. If you remember, we arrived at approximately 1100 hours in a year. To earn our mythical $46,000 per year, you needed to bill at a rate of $42 per hour. Now we need to take into account the expenses of running a [...]

Starting a business is like starting your own baseball team. Start-up (Spring training) is when you are doing your research, deciding on a business name, zoning requirements, setting up your business, deciding on what form your business will take (sole proprietorship, corporation, LLC). You’re assembling all the parts of your business (team), getting ready for [...]

I don’t claim to be an accountant, nor very well versed in the art of creative tax preparation, but I do have a bit of experience in handling the day to day and month to month taxes. For the past five years, I have learned first and foremost that the most important thing in business [...]

Employee taxes can be one of the most difficult to understand areas of running a business and hiring employees. If you don’t understand all of the complexities involving employee payroll tax, it can also get you into a heap of trouble.
The first employee tax factor you should understand is what taxes you are responsible for [...]

There are many wealth creation strategies and investment techniques available to those who are looking to create a passive income. These fall into three main categories. Running a business, investing in property and investing in the share market. Although there are many options in each of these areas, finding the right wealth creation strategy for [...]

Yesterday we learned that 74% of all wealth is created by people who own their own business. Below are a few facts about owning your own business, specifically a home-based business that you may not be aware of.
Fact: The fastest growing segment is home-based businesses.
Fact: A new home-based business is started every 11 seconds.
Fact: Unlike [...]

If you are running a small business and you get frustrated when things seem to be going wrong you’re not alone. Every successful businessperson experiences some level of frustration. The distinction between successful business owners and those that continually struggle is the way they handle their frustration.
One way to handle the frustration is with the [...]

Faulty information costs you money! Which of these popular business misconceptions do you believe?
Popular Misconception #1:
“We Only Need Our Books Done Once A Year For Tax Purposes.” Are Your Accounting Records Adequate To Run Your Business?
Although it is important to keep records for tax purposes,it is not the only reason (or even the primary [...]

Recently one of my customers told me the chaos swirling through his company was the result of poor cash flow. If only he had more money, his company would run better.
I must respectfully disagree.
Poor business processes produce chaos. Chaos leads to poor cash flow. Fix the poor business processes and the cash flow problems disappear.
What [...]