As the saying goes, “cash is king!”  Cash flow is the lifeblood of any business organization. Small-business owners are often so concerned with other matters that they fail to pay proper attention to managing their cash resources properly. More businesses go out of business for this above all other reasons. The hard reality is this… Read More

Keeping accurate and clear business financial records can, for many business owners, be the most difficult, and frankly the most stressful, part of running a business. Simply understanding these records is often challenging. And yet maintaining a set of clear and understandable financial records is perhaps the single most important factor that separates successful businesses… Read More

Every day thousands of businesses are forced to close their doors. The most common reason given for the high failure rate of small businesses is a lack of adequate capital. Whether you’re starting a business or expanding one, sufficient ready capital is essential. But it is not enough to simply have sufficient financing; knowledge and… Read More

Following are the Health Savings Account (HSA) Limits for 2018 Maximum Contribution Individual Only: $3,450 Family Coverage: $6,900 HDHP Minimum Deductibles Individual Only: $1,350 Family Coverage: $2,700 HDHP Maximum Out-of-Pocket Amounts Individual Only: $6,650 Family Coverage: $13,300 Catch-up Contribution (age 55 or older) Individual Only: $1,000 Source: Rev. Proc. 2018-27 *This latest procedure update was… Read More

Regardless of what your product or service is, there are only three ways to grow your business, i.e., increase revenues and improve profitability. That’s it. All paths to growth are a variation on one of these themes. Once you have grasped this idea, your marketing will become more focused, more organized and more powerful. The… Read More

It appears that many small businesses believe in the age-old adage that says, “Build a better mouse trap, and the world will beat a path to your door.” In the real world, this little piece of wisdom does not hold true. Unless you have invented a totally unique product or service uncommon in the marketplace,… Read More

When you start or run a business, it’s vital to choose the right type of legal entity and structure. It’s equally important to keep that structure under review as the right solution may change as time goes on. No one entity is perfect for every business venture; there are a number of different factors that… Read More

If you were traveling from New York to Alaska, and you had never been to Alaska, you would most likely consult a map for direction and guidance. If you didn’t, you could drive in circles for hours, if not days. And if you didn’t ask anyone for directions, then you probably would not get there… Read More

If you are looking to start a new business, there are three main ways you can do so. You can start a new business, purchase an existing business, or invest in a franchise operation. There are good reasons for each choice and each carries its own advantages and risks. Option #1: Start a New Business… Read More

There are a number of different reasons for starting a business. Perhaps you are interested in “trying something new.” Perhaps you have found a new way to solve a problem or meet an expressed need, maybe you want independence, or are trying to increase your income. Whatever your reasons for going into business, you must… Read More