Investing in Your Team: The Financial Realities of Offering Employee Benefits
As the founder or CEO of a small business, you’re not just passionate about what you do, but also about the people who help you do it – your employees. Offering health and other benefits to your employees is a significant decision that can have substantial financial implications for your business. So, when should you […]
Software Contracts Simplified: Actionable Tips for Successful Negotiations
In the dynamic world of business, negotiation is a skill that every entrepreneur needs to master. This is especially true when it comes to software contracts. Whether you’re investing in a new CRM system or upgrading your accounting software, negotiating a favorable contract can save you money, time, and headaches down the line. Here are […]
The Cash Flow Commandment: One Rule Your Business Must Live By
In the world of entrepreneurship, there’s a single, non-negotiable requirement that determines whether your business will thrive or dive. It’s not your marketing strategy, your customer service, or even your product or service itself. So, what’s the only thing required to stay in business? The answer is simple: your business must generate positive cash flow […]
Understanding Why Businesses Fail and How to Avoid These Pitfalls
As a CPA and fractional CFO, I’ve seen it all. From the highs of business success to the lows of setbacks I’ve witnessed the rollercoaster ride that is entrepreneurship. One thing I’ve noticed is that obstacles often stem from the same root causes. Let’s dive into these reasons and explore how you, as a fearless […]
The Untapped Power of Your HR Team and Fractional CFO Collaboration
When it comes to running a successful business, it’s all about the team you have in place. And two key players in this game are your Human Resources (HR) team and your Fractional Chief Financial Officer (CFO). These two departments may seem like they operate in different worlds, but when they collaborate effectively, they can […]
Decoding Accounting Methods: Cash vs. Accrual Accounting
If you’re a small business owner, you may have heard the terms “cash basis” and “accrual basis” accounting. But what do they mean? And more importantly, how do they affect your business? Let’s break it down in a way that’s easy to digest, even if you’re not an accounting enthusiast. Cash basis accounting is like […]
Crowdfunding for Entrepreneurs: A Game-Changer or a Gamble?
As a small business owner, you’re a risk-taker, an innovator, and a visionary. You’re not afraid to step outside your comfort zone, and you’re always on the lookout for fresh ideas and perspectives. One such innovative funding method that has gained popularity in recent years is crowdfunding. But is it the right choice for your […]
The Secret Power of the Operating Cash Account for Small Businesses
As a small business owner, you’re no stranger to the constant ebb and flow of cash. One day, you’re riding high on a wave of incoming revenue, and the next, you’re navigating the choppy waters of expenses and payroll. It’s a cycle that can be as exhilarating as it is exhausting. But what if there […]
The Financial Lifeline Every Small Business CEO Needs: Unpacking the Power of Cash Reserves
As a business owner, you’re no stranger to taking risks. You’ve stepped outside your comfort zone, embraced innovation, and committed to making a positive impact in your industry. But when it comes to your business’s financial health, a little caution can go a long way. That’s where cash reserves come in. Cash reserves are essentially […]
The Secret Weapon Every Small Business CEO Needs: Unveiling the Power of a Tax Savings Account
As a small business owner, you’re always on the lookout for ways to maximize your profits and minimize your expenses. One area that often gets overlooked, however, is tax planning. That’s where a tax savings account comes in. A tax savings account is a separate bank account where you set aside money specifically for taxes. […]
