Image by Michael Giuffrida about Finance

What is the difference between accrual and cash basis accounting?

For many small businesses, the consideration of whether to use cash or accrual basis accounting never even comes up as the difference between them is unclear and they leave it up to their tax accountant to decide.  However there are significant advantages and disadvantages to each which should be considered not just for tax purposes Read more about What is the difference between accrual and cash basis accounting?[…]

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How do I eliminate my business competition?

Running a business is hard enough when things are going well and you are selling all you could hope to sell.  Regardless of whether you sell a product or service, and even if you were first to market, if it’s worth selling there will be competition because others will want to get a piece of Read more about How do I eliminate my business competition?[…]

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Should I ask my family to make an investment in my business?

Financing a small business can be very difficult and very stressful.  When you have a great idea and want to get started, you need to determine how much startup capital you will need, and you will likely need more than you anticipate.  It you have family members with financial means, it can be tempting to Read more about Should I ask my family to make an investment in my business?[…]

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Can I use robotic process automation (RPA) in my small business?

The concept of automation is not new. Neither is the idea of using “robots” to do things that humans were previously required to do.  However, the idea of being able to afford any of this in a small business has been far out of reach as automation was widely considered an “enterprise” concept.  Good news Read more about Can I use robotic process automation (RPA) in my small business?[…]

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How long does it take to build a new website?

Having been in the website business for years, it was always amusing to me when a prospect for a new website would delay their decision to go forward with our web proposal, but then would hound us about how quickly it needed to be up and running as soon as they signed.  While this may Read more about How long does it take to build a new website?[…]

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What should I expect from my website?

While it may seem obvious to people in business today that they need a website, many don’t understand exactly why or what they should expect from their site.  As is true with most business tools the answer to this question depends upon your business and your target audience but here are some goals you should Read more about What should I expect from my website?[…]

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What things should I consider for my new office space?

For today’s employees, an office space is more than simply a place to show up for 8 hours per day to do a job and then go home.  People have learned that for a place that you spend such a large portion of your waking hours, you need to want to go there, enjoy being Read more about What things should I consider for my new office space?[…]

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What are core values and why are they important?

Every business has a set of values by which they operate each day.  In business with solid leadership, these values are consistent day after day and do not change in times of financial trouble, business difficulties, or employee turnover.  The best leaders make these values known to the organization and work to promote them every Read more about What are core values and why are they important?[…]

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6 Questions to ask when deciding how to backup your data

Most businesses know that its important to backup your company’s data, but there are a lot of different strategies for doing so.  How do you know if you have done enough to ensure you will not lose any data in the event of a disaster?  A good rule of thumb for data backup is called Read more about 6 Questions to ask when deciding how to backup your data[…]