One of the most important (but often overlooked) aspects of running your company is addressing the question, “How much should I pay myself?” It’s crucial to pay yourself regularly to maintain financial stability. The whole point of starting a business is typically to create financial freedom and security for yourself and your family. But it’s easy to get caught up in the day-to-day operations and forget to take care of your own paycheck.
Read MoreSimilar to other decisions you’ve had to make on your own, retirement is another crucial financial topic you must diligently explore to set you and your business up for success.
Small business retirement plans vary in terms of structure, benefits, and suitability, depending on the size of your business and team, your financial situation, and your goals. Choosing the right one for your business can feel daunting, but the sooner you decide which plan is right for you, the better handle you’ll have on your retirement planning.
Read MoreIt's that time of year again — tax season is fast approaching! As a successful small business owner, we know you’re busy enough without stressing about gathering receipts, tallying up expenses, and rushing to file your taxes on time.
But fear not! With a few organizational tips and tricks in place throughout the year, you can reduce your tax prep stress and breeze through tax time next year.
Read MoreJotting down your goals and visualizing their realization is exciting, but it's merely the starting point. Genuine progress happens when we dig deeper and adopt a mindset and lifestyle that aligns with our goals.
This is where establishing financial intentions comes into play. Our intentions propel us forward, even if we temporarily veer off course from an ambitious goal we've set.
Hiring your first employee is like adding a new character to the story of your business. You want to ensure they're a perfect fit, someone who can help you achieve your goals and take your company to the next level. So, let's jump into the exciting world of small business hiring and the employee onboarding process.
Read MoreSmall business scaling is not just about growing your operations, expanding your team, and increasing your offerings, but doing it sustainably and effectively. If you try to grow your business too quickly or too haphazardly, you could find yourself stuck down the road facing burnout, a lack of vision, or even cash flow problems. Learning effective strategies for scaling your small business can help you anticipate common challenges and discover actionable solutions.
Hiring your first employee is like adding a new character to the story of your business. You want to ensure they're a perfect fit, someone who can help you achieve your goals and take your company to the next level. So, let's jump into the exciting world of small business hiring and the employee onboarding process.
Read MoreYou've reached a point where your small business is thriving, and you can no longer be a one-person show. Congratulations! It's time to take that next big step — hiring your first employee. This is a significant leap, and while it might feel a bit overwhelming, we’re here to give you some tips to help make the process more smooth and straightforward.
Hiring your first employee is like adding a new character to the story of your business. You want to ensure they're a perfect fit, someone who can help you achieve your goals and take your company to the next level. So, let's jump into the exciting world of small business hiring and the employee onboarding process.
Read MoreEnsuring that all of your resources are being maximized to their full potential is an essential part of managing your business well. Time management also helps you adapt to the ever-changing business environment, allowing you to keep up with new challenges and embrace new opportunities.
We want to share some of our favorite time management hacks that help keep our business (and personal lives) running smoothly and efficiently.
Read MoreAs a small business owner, you are (by no official definition) a unicorn! Your business origin story is unique, your leadership style is unlike others, and you solve problems and handle challenges in your own way.
So while we don’t want to discredit your uniqueness, we do want to point your attention to a common small business life cycle that most entrepreneurs experience. Knowing these stages can help you prepare for upcoming challenges, face current struggles, and be equipped with knowledge and skills for the future.
Read MoreAnyone who runs their own business knows how thrilling and empowering it can be. Selling a product or service, working when and where you want, and having unlimited earning potential are just a few of the perks. But with all of this freedom comes a good deal of responsibility.
Read MoreDo you ever wonder why some businesses stay afloat in tough times, and other businesses fold even when things seem to be going well? A company could be revolutionary, have raving fans, and appear to be making a profit….and still not stay in business!
Usually, it’s not because a business is better, more popular, or successful on the surface. More likely, it comes down to effective cash flow management. According to research, 38% of startups fail because they run out of money.
Thankfully, the holiday season - with all of its magic - provides a great opportunity to remember what matters most in life. Whether you want to show your team how much you appreciate them, make your family feel extra special, or serve your community, there are plenty of ways to creatively give back this holiday season.
Read MoreNo matter the intention, getting unwanted advice on hot financial topics can be bothersome. As a small business owner, you’ve worked hard to build and manage a business you’re proud of — and with the success you’ve seen, you must be doing something right.
But your well-meaning family can’t always help giving their two cents about what financial moves you should make — whether in your business or your personal life.
You’ve heard it before, and you may hear it again…
Read MoreThe actions we take today can significantly benefit our future selves, whether it’s cleaning up our diet, investing in healthy friendships, or getting our tax paperwork in order.
Come early 2023, I want you to feel prepared — and relieved — that you had the foresight and knowledge to get you and your business ready for tax season. Planning early may seem somewhat insignificant in midst of all the work you’re busy with. But in reality, taxes are a huge part of your business's overall financial health and affect a lot of high-level business decisions.
Read MoreHaving a budget as we head into the festive (and expensive) holiday season will allow you to enjoy exciting activities, delicious meals, and gift-giving. You’ll also spend less time scrambling and stressing over finances when you have a spending plan in place.
Read MoreIf you follow me on social media, you know that I am an avid reader. I soak up all the information I can so that I can continue to grow and understand more for myself and my clients.
I thought it would be fun to compile and share the best financial books to read, both for personal and business growth.
Read MoreIf you’ve ever found yourself asking questions such as “when are taxes due?” or “what should I expect to owe in taxes?” this article will help you understand everything you need to know about taxes as a small business owner.
Read MoreWith the end of summer comes lots of fun and anticipation. Back to school, football, the end of the 3rd quarter, and a time to plan how the end of the year will look for your small business. And with the state of inflation, why not take advantage of Labor Day sales 2022 to tackle some big expenses for your small business?
Today I’m discussing why Labor Day sales 2022 can be a great tool for your business. Keep reading to find out how!
Read MoreHow many times over the past couple of years have you heard someone mention struggling with money-related stress?
My guess is, probably too many times to count. And for every person who did mention it, there are probably several others who were too embarrassed to bring it up.
As a business owner, maybe you’ve struggled with finances over the past couple of years. The global pandemic wreaked havoc on all kinds of businesses, big and small.
Read MoreYou probably started the year off with the best intentions for your business. As a responsible business owner, you set your goals when the new year rolled around. Maybe you wanted to hit $25k in revenue per month. Or perhaps you set your sights on expanding the services you offer.
A mid-year financial checkup is the best way to evaluate whether or not you are on target to hit your goals. And if you’re not, then it’s a good time to course correct.
Read MoreLet’s be honest, when it comes to building a profitable business, the learning curve is steep.
Navigating the new terrain will be easier if you focus on the right goals from the beginning. And one of the most important goals is to focus on is how profitable your business is.
Focusing on profitability will help to prevent your dreams from becoming a cash flow eating nightmare.
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