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7 06, 2020

Finance Tips for Small Business Owners

By |2020-05-04T22:14:50+00:00June 7th, 2020|Bookkeeping Basics, Finance Tips, Small Business, Technology|0 Comments

Finances will always be an important factor of any business, regardless of the type of business you are running. While your business will inevitably drive in income, there are other elements that can help you cut costs, save money, and set your company up in a position to maintain financial stability and profitability in the long run. Here are a few tips that will put your company in a good financial position. Know Your Sales Cycles – Depending on your industry, your business can experience seasonal cash flow. During certain times of the year, your business may experience higher financial periods. For example, retail shops may experience periods of high sales during the holidays when people are shopping for gifts, versus slower months such as the spring. Avoid Procrastination – Procrastination can build up. This is especially true when dealing with finances. There is a greater potential for forgetfulness and disorganization if you leave too much time in between invoices. Evaluate Expenses – Identify factors that are fixed expenses and keep them as low as possible. Although you want to [...]

11 05, 2020

Business Success During COVID-19

By |2020-05-04T22:14:20+00:00May 11th, 2020|Business Tips, COVID-19, Finance Tips, Small Business, Technology|0 Comments

As we settle into routines and adjust to working from home, it is important to set strategies and maintain consistency to ensure your business is maximizing success during the quarantine. The presence of COVID-19 has brought unique challenges for business owners. While many things remain the same, some elements require extra attention to ensure business success. Here are a few tips to stay productive, stimulate team motivation, and ensure overall business success. Keep a close eye on deadlines. Although we are in a country-wide crisis, it is still important to mind your deadlines. Stay conscious of credit card bills, loan payments, tax payments, and utility bills. The last thing you want is to miss a deadline and build late penalties during the crisis. Commit to check-ins. Make a commitment to virtually check in regularly with your employees. Stay involved with their projects through video meetings and screen sharing through Google Hangouts or Zoom meetings. This helps your team stay focused and shows your employees that you are involved and interested in their work. Create multiple channels of communication to ensure [...]

15 04, 2019

Small Business Financing and AI Technology

By |2020-01-29T18:14:13+00:00April 15th, 2019|Bookkeeping Basics, Small Business, Technology|0 Comments

As technology continues to evolve at a rapid pace, many working professionals are turning towards the newest technological trends to capitalize on time, money, and improve the quality of their work. One current technological trend that is a popular topic of discussion includes artificial intelligence. There has been a lot of excitement among a variety of fields around the topic of AI as a useful tool. From agriculture to construction, to education and engineering, many professional fields are introducing and utilizing AI technology to their advantage. AI technology has the potential to produce positive implications among many fields of work, including small business financing.  Artificial intelligence is technology that can use independent reasoning to complete a task. Hence, AI can complete tasks more accurately and timely as compared to someone manually doing a task. In relation to business financing, AI is capable of predicting unexpected dips in cash flow based on a business’s past cash flow trends. It can also help you analyze real-time data sets and offer a better financial picture of your business’s financial health. This can help small business owners make smarter financial [...]