Author: Your_CFO

Growth is an exciting phase for any business, but it often brings financial challenges, especially when managing cash flow and securing additional funding.  Imagine a scenario where a large retailer wants to place a bulk order, offering you a lucrative opportunity. However, they demand an upfront discount, putting strain on your working capital. Should you decline and risk losing the deal, or accept and struggle with cash flow? This dilemma…  Read more

As a small business owner, you’re likely concerned about every penny you spend. That’s a good thing, because you need to keep track of your income and expenses. It also means, however, that you might be less likely to hire people who can help your business. People like bookkeepers, who are great investments for any small business. So what does a bookkeeper do? Bookkeepers take care of the daily financial…  Read more

There are some things in life that go together well and others that definitely do not. Business and personal finances are in the category of items that should not be mixed. Although it may seem like a headache to keep them separate—who wants to manage all those bank accounts?—your life will be greatly simplified once you separate your personal and your business finances, especially your expenses. Paperwork and taxes will…  Read more

Ever wondered how companies price custom projects accurately? The secret can be found in a method called job order costing. For small business owners and entrepreneurs, understanding this process could be the key to increasing your profitability and ensuring that every job is priced just right. Welcome to a world where every material, man-hour, and overhead cost is meticulously tracked to unveil the true cost of doing business. Let’s explore…  Read more

If you’re a small business owner or a startup founder, you’ve probably heard about Cost of Goods Sold (COGS). But what does it really mean, and why is it crucial for your business’s success? Understanding COGS isn’t just about accounting—it’s about making smart decisions for profitability, pricing, and more.  This blog walks you through everything you need to know about COGS, from defining the term to showing you how to…  Read more

Change is inevitable in any business, but it’s rarely easy—especially when it comes to managing morale. Whether you’re restructuring your team, implementing new processes, or pivoting your business strategy, major transitions can leave employees feeling uncertain, disengaged, or even overwhelmed.  If you’re a change leader or small business owner, you’re probably asking yourself, “How can I guide my team through this while keeping morale intact?” You’re in the right place.…  Read more

The IRS has announced critical tax relief for individuals and businesses affected by the recent LA wildfires and straight-line winds. If you’re navigating the aftermath, here are seven essential points about this relief. 1. Extended deadlines for filing and payments The IRS has pushed various federal tax deadlines to October 15, 2025. This includes: Individual income tax returns and payments initially due on April 15, 2025. Quarterly estimated income tax…  Read more

Successful businesses don’t just invest in tools and innovation—they invest in their people. An employee training program is a strategic way to empower your team, close skill gaps, and cultivate loyalty. But where do you even begin to craft a program that truly makes an impact? This guide will walk you through actionable steps to develop an effective employee training program that aligns with your business needs and leaves your…  Read more

Data is more accessible than ever. But how can small businesses leverage it effectively to drive growth? Let’s explore data-driven strategies that can help you make informed decisions, improve customer experiences, and ultimately, boost your bottom line. Why data-driven strategies matter Data-driven strategies are essential for businesses seeking to remain competitive and achieve sustainable growth. These strategies enable businesses to make informed decisions based on real-time insights rather than relying…  Read more

It’s amazing how some books stand the test of time. Stephen Covey’s The 7 Habits of Highly Effective People is one of those. Although it was first published over three decades ago, its lessons are still incredibly relevant for business owners. You might wonder – how do these habits fit into today’s landscape of changing trends, tight deadlines, and constant distractions? The short answer is, they’re timeless because they focus…  Read more

We are currently witnessing a remarkable transformation driven by artificial intelligence (AI) and automation. While these advancements promise to enhance efficiency and speed, business owners must recognise the enduring importance of soft skills in their teams for long-term success and competitiveness. The World Economic Forum’s Future of Jobs Report highlights the disruption of skills we will see in the coming years, pinpointing critical competencies for future success: Analytical thinking Creative…  Read more

In business, your capacity to meet deadlines can significantly influence your reputation. It’s not just about delivering quality work—it’s about delivering it on time. Meeting deadlines not only builds trust with clients but also ensures your operations run like a well-oiled machine.  Let’s explore ten essential tips to help you master the art of timely project delivery. Make deadlines non-negotiable Treat deadlines as sacred commitments rather than mere suggestions. By…  Read more

Starting a business is a thrilling adventure, filled with dreams of innovation and success. But let’s be honest—it’s also a bit of a gamble. Many startups face obstacles that, if not navigated carefully, can lead to failure. While vision and leadership are often highlighted as crucial elements, it’s the relentless grind of hard work and experimentation that truly makes the difference. Let’s dive into some common pitfalls that every budding…  Read more

Running a small business is a constant juggle, and one of the more frustrating tasks is managing your receivables. How often have you found yourself waiting on overdue invoices, wondering if you’ll have enough cash flow to cover next month’s expenses? If this sounds familiar, you’re not alone. Many small business owners struggle with keeping their accounts receivable in check, which can ultimately impact their business’s health and sustainability. In…  Read more

It’s natural for small business owners to think that they won’t be victims of cyber attacks. Most of the news surrounding hacking and data breaches involves large corporations, but that is because that’s where a high number of victims are affected. Hackers may find they have an easier time going after small businesses and start-ups that aren’t prepared for a security breach. So while they might get less information from…  Read more

By now many people have heard about standing desks and maybe even read reports on their potential to change lives. Many articles focus on the negatives of sitting: sitting at a desk is as bad as smoking, people who sit at their desks have shorter life spans, or sitting all day promotes terrible posture. The solution? Standing desks. Desks that allow workers to stand so they can improve their health,…  Read more

Have you ever paused to think about the real impact of the customer experience your business is offering? Is it lifting your brand up or dragging it down, along with the morale of your team? The consumers of today expect nothing short of excellence, so understanding the consequences of poor customer service is vital. So, what does poor customer service actually cost you? Let’s delve into the details—it might just…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Record 80 million Americans expected to travel for Thanksgiving holiday Americans are expected to set a new record for Thanksgiving travel, with nearly 80 million to hit the roads, catch flights and board cruises over the holiday period, travel group AAA said on Monday. US business owners sound off…  Read more

Delegation is a skill often discussed but rarely mastered, especially by small business owners who are wearing multiple hats. The balancing act of managing daily operations while pushing for growth can be overwhelming. Imagine if you could free up hours in your day to focus on strategic decisions rather than getting bogged down in every minute detail. This is where the art and science of delegation come into play. By…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Wholesale prices edge up 0.2% in October, meeting expectations amid moderating inflation Wholesale inflation increased by only 0.2% in October, exactly as Wall Street had forecasted, new figures from the Producer Price Index indicate, the Federal Reserve’s measure of inflation at the wholesale level. It reflects the prices producers…  Read more