It’s not uncommon for entrepreneurs to miss important financial clues that tell them about their business’ future. After all, you have a lot on your plate. But, accounting numbers offer invaluable insights into what’s happening with your cash, for example glimpses at inefficiencies or if your salary doesn’t align with your business plan. When you [...]
Creating distinct identities between you and your business is a key reason to keep personal and business expenses separate. Tax rules require that the funds be treated separately. By having separate accounts, it also allows for easy tracking of the business expenses exclusively. This habit also make the books reliable for tax filing purposes [...]
As a business owner, it is difficult to keep your business continually having sustainable growth. It takes real dedication and long hours of work to manage the business, employees and clients that work effectively with you. As your business keeps growing, it's certain there will be periods of plateau. But how do you recognize [...]
When it comes to investing in a franchise, if it’s run properly, some of the main pros are the fact that everything is practically laid out for the franchisee. They figure out all of the ins and outs as they already have: a credit card processor set up, software to track your orders from [...]
If you have your own business and you’re making money, you’re probably giving some of that money to your children. That could be by giving them an allowance every month, savings account, or paying for their college, etc. By hiring your kids in your business, you could be giving them that “allowance” or money [...]
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