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5 Ways to Bring More Cash into Your Business and Beat the Recession
2022 brought the highest inflation in 40 years. A recession is looming, and just about everyone’s more strapped for cash than usual. If you’ve been a pro at managing your cash flow, you’re unlikely to be in a bind even when markets are leaner. But you can use this as an opportunity to brainstorm innovative…
Are You Meeting These Healthy-Business Targets?
You’re labouring day in and day out. You’re getting customers. You’re selling. Maybe you’re even growing. But how do you know if your business is healthy? More money may be coming in, but that doesn’t automatically make you better able to pay your bills—or yourself. A growing business usually means your expenses are growing too.…
6 Essential Accounting Terms Small Business Owners Need to Know
Hiring an accounting professional is considered best practice for small business owners. But delegating financial analysis and reporting doesn’t mean completely checking out of the process each month or quarter. On the contrary, you as a business owner should work closely with the accounting professionals on your team throughout the year. This helps you to:…
Investment Basics: Understanding Your Gains and Losses
When you’re reviewing your investments, it’s important to remember that income and returns come from two main sources: capital gains and interim income.
Growth Hacks For Your Small Business
We’re all looking for affordable ways to nurture steady, sustainable growth. But deciding on an online marketing plan can be overwhelming for small business owners. With time in short supply, the key is to find one or two growth strategies that will get results at minimal cost. These proven growth hacks offer business owners a…
Stress-Free Tax Preparation
At GuYDanS Consulting & Bookkeeping, we understand that tax preparation can be challenging. Without professional help, it can be viewed as a stressful or laborious task. That’s why we’ve created a handy checklist to help you complete your taxes with as little stress as possible. Follow our checklist to file your tax returns accurately and on…
How to Scale Your Business with Minimal Effort
If you want your business to grow, at some point you’ll have to think about scaling it. Scaling your business isn’t exactly the same as growing it, though they are often used interchangeably. Growth refers to adding resources and increasing your revenue in a linear fashion. You double your number of offices to double your…
The Difference Between Cash Flow and Profit
Sales and profit are two very different things. As a business owner, you can find yourself without the cash to pay bills, despite making sales you knew were profitable. You may also be startled to discover that strong cash flows from sales deliver little profit. So what is cash flow? A cash flow forecast tracks…
Eight Characteristics of Successful Small Businesses
International researchers who have studied many small businesses have found that these eight characteristics consistently play a part in the success of small companies: Owners leading by example Simple business structure Information sharing among employees Carefully chosen staff Staff commitment and loyalty A unique product or service A specific customer focus Prompt follow-up 1. Owners…
4 Things to Consider Before Expanding Your Service Offerings
If you’re looking to grow your business, you might consider expanding your service offerings. Adding additional services can increase your profitability, diversify your income, and expand your market. But there are important things to consider before adding to your income streams. 1. Does the expansion complement your business? The best way to expand your service…
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