Tag Archive : business tips

All entrepreneurs face challenges, but women entrepreneurs have several additional obstacles to overcome. These four big hurdles can be addressed and tackled with a pragmatic approach. Every entrepreneur faces challenges. As outlined in this great article Top 10 Challenges Today Faced by Entrepreneurs: Solved, many of the challenges are addressed with common sense solutions.  But…

Putting together a chart of accounts is the necessary first step for any organization to create an efficient accounting system. Charts of accounts are useful for keeping data organized and tracking expenses for the company. However, not all businesses understand what a well-designed chart of accounts looks like. Here are useful tips for setting up…

All companies have a culture. Since nature abhors a vacuum, it’s better to select and cultivate the culture you want. Sitting back and allowing your company culture to develop naturally, may result in an unintentional, unprofessional environment inevitably derailing your business. As Steven Covey says, “Start with the end in mind.” What is Company Culture?…

Quality control extends well beyond checking for defects of a manufactured product or service prior to delivery. Effective quality control is ubiquitous in an organization. It supports the complete and effective performance of each job while ensuring every interaction with the customer is successful. Expectations made clear for every position as to how each job…

What is holding back the growth of your company?  A surprising answer may be a lack of delegation. Yes, even Superman had limitations. You, along with your team, only have so many hours in the day. If the entrepreneur doesn’t learn to delegate tasks, the growth stops as soon as her plate is full. When…

Nobody wants to admit the business is struggling with cash flow. Moreover, this problem isn’t only a small company problem. Any company can face cash flow problems due to bad planning, unforeseen circumstances or disruptive influences. It’s tough to reduce office stress during a cash flow crisis. Whether you admit the cash flow problems or…

Dear CFO: My business earned a profit for the last two years, but we still can’t pay the bills. How did this happen and what should we do?  Vendors are calling in Chicago You aren’t the first person to ask this question or run into this situation. It’s a common misconception among beginning business owners:…

Dear CFO: I was short of cash and I decided I could use my withheld payroll taxes to pay our company vendors. I did eventually deposit the taxes but I received a notice from the IRS. What should I do? Payroll Tax Deposit Problem – Baffled in Buffalo *Disclaimer: This post is not meant to…

Feeling a little scatterbrained lately?  Maybe you feel you have too much to do, don’t know how to manage your time, or have too many tasks on your to-do list. Trust me, we’ve all been there!  Yes, the life of a small business owner and their team is definitely hectic. But why are we often…

Dear CFO: I know I need to understand my costs, but my accountant tells me my manufacturing overhead is out of line, “SG&A” needs to be controlled, and my prices are too low.  I’m not sure I understand what she is talking about. What is SG&A? How do I lower my manufacturing overhead? Trying to…