Two very important skills for entrepreneurs to master are marketing and finances. Combine them by understanding the numbers behind marketing, and you have an even more powerful understanding of exactly what makes your business tick. Key Numbers – Cost Per Client Acquisition Do you know how much it costs your business to bring in one […]
Outsmart your accountant and other financial friends with these accounting-related definitions: Fiscal Year Most companies report their results on a calendar year, from January 1 through December 31. Some companies use a different year for reporting, and that’s called a fiscal year. For example, Intuit’s fiscal year runs from August 1 to July 31. A […]
It’s good to know some basic accounting terms, and here are ten terms with friendly definitions for your review. Asset: Essentially, assets are what you own. These include your bank accounts, business equipment, and even the amounts that customers owe you. Revenue: Revenue is what you make. Another word for it is Sales. You generate […]
Small business owners have a lot on their plates, and time simply does not allow you to become an expert in all the areas required for running a business. Here are a couple of common mistakes that we see all the time. Correcting them will help you be more productive and profitable in your business. […]
Some numbers need reviewing on a daily basis, and one example of this is cash. When cash is coming in from a number of places, it’s great to have a daily summary of what was collected. It’s also great to make sure all the collections hit your bank account so you can feel confident that […]