Answers to the 5 Top Money Questions of Small Business Owners

I’ve answered hundreds of small business accounting questions this year from clients, consults, and through this blog. Instead of responding to a finance query from an entrepreneur this week, I wanted to address some of the biggest issues I’m asked.

Being a business owner is one of the most rewarding jobs in the world, but it’s not for the faint of heart. There is no instruction manual to run your company. It requires research, stamina, support, and confidence.

4 Easy Steps to Manage Your Recurring Expenses Like A Pro

4 Easy Steps to Manage Your Recurring Expenses Like A Pro

Part of the beauty of creating a budget is that it requires you to take a look at all of the financial aspects of your company. Those expenses that you say surprised you? Be sure to track the item, amount, and vendor. Having this data will arm you for the future.

5 Steps to Holiday Health for Your Wellness Business

5 Steps to Holiday Health for Your Wellness Business

Stephanie leaped at the opportunity to become a spa owner. In her excitement, in getting up and running, she never opened a business checking account and used her personal checking account to operate her massage spa.

It wasn’t intentional, she was going to do it, but one day lend into weeks, which lend into months, which lend into the end of the year.

When tax time approached, Stephanie needed to get financial statements and financial documents to her tax accountant, she couldn’t remember who the purchases belonged to. Were these purchases and deposits personal or were they for the spa?

How and Why KPIs are Critical to Your Business’ Success

How and Why KPIs are Critical to Your Business' Success

We can’t be afraid of numbers. They’re all around us and the key to staying and growing iyour organization. Data equals facts, and knowing the truth about our business’ performance is the only way to get ahead.

We are a goal-oriented society, but I want to spend time talking about the part that is often skipped over: the unglamorous details of how you actually hit your financial goals.

The Money Conversation Every Entrepreneur Needs to Have in Their Marriage

The Money Conversation Every Entrepreneur Needs to Have in Their Marriage

Too many people don’t understand the sacrifices, responsibilities, and risks they’re making when they take on a side hustle. It could be a financial disaster very, very fast. Just because it’s a side gig doesn’t mean that you don’t still have to do a lot of the same structure as a real business.

Extra income very literally comes at a cost. That’s not to say that you’re doing anything wrong, but there are tax considerations that you should know about sooner rather than later.

How to Create Your Business’ Financial Goals in 3 Simple Steps

How to Create Your Business' Financial Goals in 3 Simple Steps

We live in an age of online gurus telling us at every turn how simple it is to make six or seven figures. I’m here to tell you that if you’re looking for easy, then business ownership is not for you. That said, having a good grasp of your numbers will help you immensely.

It’s not glamorous, but you need to create a budget. There is a difference between setting a target and creating a plan to achieve it.

You’re in luck, my friend: Here are three steps to get you there.

How to Read What Summer Tells You About Your Business

How to Read What Summer Tells You About Your Business

A critical component of managing your finances is review as well as analysis. Financial review should not for the quarter. As the summer winds down, now is the time for a seasonal review to discover trends about your financial performance this time of year. How did the months of June, July, and August impact your revenue, expenses, and cash flow? It’s essential to review the results while they are fresh.

School’s in session…now is a great time for a summer financial review. Let’s do this.