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When Should a Small Business File as an S Corp?
Navigating the landscape of business structures can often feel like deciphering a complex puzzle. Among the myriad options, the S Corporation (S Corp) stands out for its unique tax benefits and operational flexibility.
Why the Profit First Method Should Be Your Business's Financial Foundation
The Profit First method, popularized by author and entrepreneur Mike Michalowicz, is a cash management system that turns traditional accounting on its head by prioritizing profit over other financial aspects. Unlike the conventional sales formula - expenses = profit, the Profit First method flips it to sales - profit = expenses. This means that profit is not just an afterthought but a non-negotiable priority.
Risk Management for Entrepreneurs: Protecting Your Business
Every business will face different risks depending on their industry, size, and location. Identifying potential risks is the first step in risk management. After identifying these risks, an entrepreneur must assess them - understanding their potential impact and the likelihood of their occurrence.
Work-Life Balance: Achieving Success without Sacrificing Personal Time
While it's tempting to put in long hours to sustain and grow your business, it's essential to take care of yourself and make time for the things that truly matter.
Credit Unions vs Big Banks: Which is Better for Small Business Owners?
When picking the right financial partner, owners often wonder whether to choose a credit union or a big bank. In this blog post, we’ll discuss both pros and cons, so you can decide which option is the best for your business.
Why Do Small Businesses Need a Registered Agent?
Aa registered agent can be an invaluable asset to any small business. Today we will explore the importance of a registered agent for small businesses and how it can benefit you in the long run.
SEP IRA: A Retirement Plan for Small Business Owners
As a small business owner, one of your top priorities should be preparing for retirement. Being smart about where your money goes can make a huge difference in how much you save and how comfortable you are in your golden years.
Elevate your business with HoneyBook
As a business management software, HoneyBook offers various features and benefits that cater to the unique needs of different types of businesses. Let's examine how HoneyBook can benefit two industries: freelance graphic designers and small event-planning companies.
Managing Cash Flow: What Every Business Owner Should Know
The first step to managing your cash flow is to keep track of your inflows and outflows. Use accounting software, spreadsheets, or a combination of both. Whatever system you use, ensure you regularly update it.
Novo Business Checking Review
Novo's mobile and online banking options make managing your money effortless. Novo's features allow you to deposit checks, send money, receive payments through integrated invoicing, and budget with the Novo Reserves tool. In addition, Novo integrates with popular tools such as QuickBooks, Xero, Stripe, and Shopify; Novo Perks offers Perks offer discounts with partners like Google, Stripe, QuickBooks for added user benefits, and HubSpot.
Time Management Tips for Small Business Owners
One of the most effective time management techniques is creating a schedule that outlines your day's activities. Jotting down your to-do list in your notebook or calendar application gives you a sense of control over your day.
Why You Shouldn't Rely on Business Credit to Fund Your Business at Least in the Beginning
While business credit can help run your business, there may be better decisions than relying on it during the startup phase.
Building and Scaling Your Online Business: Tips for Success
In today's digital age, online businesses are becoming increasingly popular as technology advances and consumers become more accustomed to shopping online. However, building and scaling a successful online business can be challenging
Productivity habits for business owners
As a business owner, you know that getting things done quickly and efficiently is essential for success. You also understand the importance of balancing your workload and "me time." Having productive habits in place can make your work life more efficient. We'll discuss productivity habits that all business owners should explore to maximize efficiency, stay organized, and get more out of each day!
The Profit First Method for Businesses: A Beginner’s Guide
The Profit First method was created by Mike Michalowicz as an alternative to traditional accounting practices. The main goal of the system is to prioritize profit over expenses. Instead of cutting costs and increasing sales, this approach focuses on building income streams by putting a portion of every sale into a “Profit Account.”