Category: Business Coach

“Wham!”- Made a sale! What comes next?

Wooo Hooo!  Made the sale, sent the invoice and feeling good!  Right?  Well kind of … Remember an ‘invoice isn’t cash’ so don’t overlook the ‘getting paid’ portion of the sales agreement (Refer to tips below). While it may seem obvious, many business owners become so consumed with making the sale that they fall short…

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Get Paid Sooner

It’s simple, manners matter. In a recent study done by FreshBooks, they scientifically proved when people were polite on their invoices, they were getting paid 5% faster!  ‘Pleases’ & ‘Thank-You’ are all it takes.  For example, please pay within 30 days or Thank you for your business. To customize your invoices to include friendly payment…

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How does your business measure up?

“Financial ratios are often used to compare a company against an industry average or other companies in order to benchmark or measure a company’s performance. Industry ratios are often useful when creating the financial components of a business plan. ” Yahoo Industry Research Center (https://biz.yahoo.com/ic/index.html ) is a free online tool that provides industry specific information that…

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Avoid Running Out Of Cash

It’s a common struggle for small business owners to keep enough cash in their coffers throughout the year to cover payroll and replenish inventory, particularly if their inflow and outflow of cash is affected by seasonal sales/expenses.  To keep from ‘running out of cash’, here’s a list of 5 recommendations to consider: Track when money comes…

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Why Track Inventory in QuickBooks?

Use Quickbooks’ tracking tools to help reduce ‘ghost expenses’ and keep your sales active.  Efficient inventory tracking will improve your efficiency as well as increase your profits! Learn More: (YouTube 2:09) Need help integrating inventory management software with your QuickBooks (Enterprise) accounting software?  Call Chris at (360) 303-5798 for some insight and advice! Proudly serving, onsite &…

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QuickBooks Help: Business Divisions & Profit Centers

6 FREE QuickBooks Town Meeting / Q&A Sessions.  – May 17 – June 8, 2016 – Whatcom & Skagit Counties.  Series presented by Business Support Services Northwest, LLC and facilitated by Chris McGee, ProFound Impact – QuickBooks Expert & Business Coach. Have you ever wondered how to analyze your stores, divisions, products, and services within QuickBooks?…

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Budgeting vs. Forecasting Overview

While often linked together they ‘shouldn’t be’ as a budget and a forecast are not the same.  They are both terrific financial management tools but they serve different roles.  Budgets focus on shorter time periods like quarters or one fiscal year.  Management uses a budget to measure actual income/expenses to their estimates or predictions and…

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How Healthy Is Your Business?

While preparing to file for state and federal taxes, small business owners are presented a unique opportunity to review the overall health of their business using their financial documents. Regardless of whether they’re ‘doing-it-themselves’ or enlisting the help of an expert, having their financial data all together is invaluable.  It provides an opportunity to review the…

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Cyber-security Tips for Small Business

FDIC Winter 2016 Consumer News listed a comprehensive list small business owners can use to protect their data and their money from hackers.  Their cyber-security tips in short are:  Keep up-to-date anti-virus software on all computer devices with automatic updates.  Regularly install ‘patches’ or updates to all software.  Keep employee access to data ‘job specific’….

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