When Should You Outsource?
Outsourcing has become a popular business practice. That’s because today’s marketplace is teaming with contractors who offer a variety of specialty services, ranging from marketing ...
How to Survive a Worker’s Comp Audit
Small businesses with employees have the distinct honor once per year of being part of a worker’s compensation audit. Worker’s compensation is an insurance program ...
How to Plan for Large Purchases
Small business owners often struggle with knowing when it’s the right time to make that next big purchase for their company. Sometimes, the entrepreneur’s hand ...
How to Cut Costs with Fixed Assets Management
Fixed assets include land, buildings, equipment, furniture and vehicles the company owns. While expenses are frequently evaluated to cut costs, fixed asset management is another ...
Five Ways to Make A Business More Efficient
A great entrepreneur will always be on the lookout for ways to improve their business. Efficiency is a goal everyone wants to achieve when it ...
When to Revisit Your Budget
A small business’s budget should be a fluid document. At no point in time should an entrepreneur adopt the “set it, and forget it” rule ...
Five Tips to Deal with Seasonal Cash Flow Issues
Maintaining a consistent cash flow can be a struggle for some small business owners, especially if their business is seasonal in nature and experiences some ...
How to Read Your Income Statement
The income statement of any business is probably the most important report of all. It is a snapshot of the financial performance of a business ...
Don’t Nickel and Dime Clients
Unexpected fees are frustrating. Mention car dealer fees or the convenience fees associated with buying concert tickets online and a heated discussion on being “nickel ...
Spend Too Much Time on Email?
Almost everyone feels as though they spend too much time on email – the Lucrum team included. That’s why we’ve compiled the following seven tips ...
How the new tax laws are impacting recording meals & entertainment expenses
The IRS has plenty of rules regarding deducting expenses from business income; one area that has plenty of rules is entertainment. While buying meals or ...
Boost Your Accounting Know-How With These Terms
The field of accounting has its own vocabulary, which can sound like a foreign language at times. By learning the following accounting terms, an individual ...
Building a Marketing Budget
Every successful company must find a way to sell their services or products. Often, in relationship-based businesses, companies are selling themselves. Companies that don’t have ...
How to staff an accounting team
When hiring an accounting team, it’s important to first look at the business’s needs. What a company requires from an accounting perspective can vary from ...
Five Common Mistakes to Avoid When Hiring for Your Accounting Department
There’s a lot more to accounting than crunching numbers. It’s a highly complex profession that requires an individual who not only excels at understanding accounting ...
Three Super-Easy Ways to Boost Your Revenue for 2018
Every business has a gold mine in its current customer base. But not all business owners remember to mine this gold because they are too ...
When to Hire a CFO
For some entrepreneurs, it may take years to achieve a sustainable cash flow, while others experience rapid growth and expansion within months. Simply put, the ...
Making Deadlines Can Save You Big Bucks in Your Business
There are a lot of deadlines that come with running a business. In fact, missing some deadlines can have serious financial implications on the health ...