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Successful business owners know their numbers. Here’s how Shark Tank stats can help every business owner manage their bottom line and top priorities.
If your business is not making a profit, it’s not an income problem – it’s a spending problem. Sure, at the very beginning of every business creation, there are startup costs. Yes, you have to spend money to make money, but you also have to be very strategic about how and when you spend money and how you save it. Find our top tips for ensuring that your company is prepared to reduce spending to increase profits.
Profit does not Equal Positive Cashflow It’s an odd statement, but it is a fact – profit does not equal positive cashflow. Profit is the result of a financial period (like a month) when your incoming revenue exceeds the applicable expenses. Cashflow is the way your income and expenses flow through your bank account. There…
What is Overhead and How Much Does it Cost Businesses? If you own a business, you have overhead costs. Whether you’re the sole freelancer that uses just a monthly subscription to Canva for creating graphics or the owner of a booming business that manages payroll for 50 plus personnel. And, as we all know, for…
Being a bookkeeper is not for the faint of heart. It comes with a great deal of responsibility and meticulous attention-to-detail. Charged with the task of recording financial transactions, us bookkeepers have seen it all. And while numbers may seem boring to many (we know we are a unique pair at Two Sense Consulting),…
How To Budget for A Vacation As a Small Business Owner Summer is fast approaching. You’ve made your hotel reservations, and booked your flights, but have you made plans (both literal and mental) to be away from your business? Owning a small business can be rewarding and challenging, and finding time to take a…