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Articles from Fran McCully | Selfgrowth.com
- How Long Should Your Business Plan Be? - by Submitted on Feb 15, 2013 from Fran McCullyA business plan can be any length, from a scrawl on the back of an envelope to a detailed plan describing a complex enterprise, more than 75 pages. A typical business plan runs 15-20 pages, with a wide variation. The nature of your business will play an important role in the length and ...
Views: 888(1 vote) - What Is The Best Way to Start a New Business - by Submitted on Feb 15, 2013 from Fran McCullyStarting a business is easy. It can be done in a day! Starting a business that lasts and is profitable takes a lot more time and effort. Follow these tips to improve the chances of living the dream while eliminating risk to the success of the small business owner. Start your ...
Views: 870 - Do You Know the Numbers? - by Submitted on Oct 19, 2012 from Fran McCullyMany small business owners are clueless as to how much money is being generated by their business or how to create consistent cash flow. Are decisions being made based on emotion rather than choices regarding an understanding of money? Do you understand the language of money? Money is so ...
Views: 962 - Business Income and Expenses Tracking - by Submitted on Oct 19, 2012 from Fran McCullyThe actual process of keeping books is easy to understand when broken down into steps: 1. Keep receipts and or other acceptable records of every payment and expenditure from your business. 2. Summarize your income and expenditure records on a periodic basis (generally daily, weekly, or ...
Views: 1198 - Evaluating a Company's Financial Position - by Submitted on Oct 19, 2012 from Fran McCullyBank balances don't provide enough information to gauge a company's financial health. Use financial statements and other data for a full check-up. The recent recession has made checking in on the basics of your company's financial position more than just a to-do item. It is an absolute ...
Views: 1103 - Bookkeeping Tips for Small Business - by Submitted on May 26, 2012 from Fran McCullyYou don't need a CPA to keep good books for the business, but you do need a little know-how. Poor bookkeeping can cause a myriad of problems and significant losses, not to mention the potential for serious trouble with the IRS. If you own and operate a business here are a few tips to help keep ...
Views: 1181 - Simple Bookkeeping for Small Business - by Submitted on May 26, 2012 from Fran McCullyThere are many reasons to closely monitor everyday transactions. Hiring the right bookkeeping professional to monitor your books and teach you how to properly keep track of the business's finances will help your small business thrive. Hiring a professional to handle daily transactions is ...
Views: 1041 - Tracking Business Revenue - by Submitted on May 26, 2012 from Fran McCullyNow that tax time is over, business owners find themselves pulling their heads out of 2011 and turning their focus to more important matters like how they are doing in 2012. The very first and most basic way to see how a business is doing is by tracking revenue. Unfortunately most business ...
Views: 1043 - How Do You Spend Time in Your Business? - by Submitted on May 06, 2012 from Fran McCullyEver feel like there just isn't enough time in the day? As a small business owner you probably feel like this all the time. If there was only another hour in the day maybe it could all get done. Unfortunately, you can't have another hour and you can't make up for time lost. Once it's gone it's ...
Views: 1021 - Tracking the Critical Numbers of Your Business - by Submitted on Apr 07, 2012 from Fran McCullyYou don't have to be a CPA to understand which numbers are most critical to the health of your business. Having a strong relationship with your accountant is a must for any business owner - however, as a business owner the financial health of your business is ultimately your ...
Views: 1134 - The Many Benefits of Creating and Using a Database - by Submitted on Mar 25, 2012 from Fran McCullyWe all need to keep track of information, whether it's a list of phone numbers, a mailing list for postcards or newsletters or information for hosting a mastermind group. A database can be a useful tool for organizing your information. A database gives you more control and accountability over ...
Views: 932 - Budgeting, a Real Value for Your Small Business - by Submitted on Mar 11, 2012 from Fran McCullyA budget maps out where you're business currently is and where you plan for it to be, like a road map. A budget will also help you cope with the inevitable roadblocks and detours you will encounter on your way to where you want your business to be. Budgeting is important, estimating and ...
Views: 931 - 1099 Vs. 1099-K: What You Should Know - by Submitted on Mar 11, 2012 from Fran McCullyYou are an independent contractor. When beginning to work with a particular client, a W-9 should have been received or request for taxpayer identification number and certification. That information is used by each client to issue a 1099- MISC, or Miscellaneous Income form, which states the ...
Views: 1610 - Setting Expectations For a Bookkeeper - by Submitted on Mar 04, 2012 from Fran McCullyWe like to think we can learn any skill it takes to run a company, that might be true for some business owners, but for others learning to do the books properly can be a huge challenge. Hiring a bookkeeper may be helpful for the bookkeeping-challenged. Here are 10 expectations a business should ...
Views: 2275 - Bookkeeping Tips for Your Business - by Submitted on Feb 05, 2012 from Fran McCullyIt's a new year and a chance for a fresh start and that includes your bookkeeping! The beginning of the year is a great time to get your books in order and set up habits that can be easily followed and kept up with all year long. The start of each New Year gives the business owner the ...
Views: 1041 - Can You Define Cash Flow for Your Business? - by Submitted on Jan 05, 2012 from Fran McCullyKnowing what makes up cash flow is the first step to avoiding a cash crisis. The majority of business owners believe it is the revenue they generate less the expenses they pay. The answer lies in the fact that the accounting rules that govern the creation of a financial statement are not ...
Views: 947 - Payroll Processing - by Submitted on Dec 21, 2011 from Fran McCullyThere is more to managing small business payroll than writing checks and handing them out to employees on time. You need to keep accurate records, calculate and pay payroll taxes, and communicate effectively with employees. Many small business owners are finding that they can simplify the ...
Views: 1031 - Profit From Better Bookkeeping - by Submitted on Dec 15, 2011 from Fran McCullyEvery business can make more money by following a few important steps in the accounting side of the business. Owners of unprofitable businesses can either follow these steps or live with the consequences. It is imperative for a successful business to have a sophisticated accounting system in ...
Views: 890 - Why Do You Need a Bookkeeper? - by Submitted on Dec 11, 2011 from Fran McCullyBookkeeping is the activity or profession of recording the financial transactions of a person, business, or organization. Transactions include sales, purchases, income, and payments. This definition makes bookkeeping sound very simple - but it truly is work for an expert. Let us be honest. ...
Views: 1082 - Small Business End-Of-Year Preparation - by Submitted on Dec 02, 2011 from Fran McCullyThe process of tax preparation can be a bit intimidating for small business owners. With a few simple steps you can avoid problems with your Tax Returns. We have provided several basic check lists below that will assist you in your year-end preparation. Save Receipts Even small ...
Views: 900 - Stress-Free Bookkeeping - by Submitted on Nov 26, 2011 from Fran McCullyManaging your books is a cumbersome but critical task for any business. It is very time-consuming, frustrating, and could mean working late hours. However, it has to be done to know the worth of your business and to satisfy the government for taxes. You also need to do this on a regular basis to ...
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