Why Businesses Should Consider Outsourcing Bookkeeping
By Shannon Earnhardt of Lucrum Consulting Bookkeeping is the process of recording all financial transactions within a business and is required in every business regardless ...
Four Ways to Manage Overhead Costs
High overhead can strangle the profit out of a business. Companies that struggle to control their unseen, hidden costs such as rent, utilities, office supplies, ...
5 Tactics for Negotiating with Suppliers and Vendors
Successful entrepreneurs understand the importance of building long-term business relationships that can contribute to their bottom line. That’s why many business owners invest their time ...
How to Prevent Past Due Accounts
Anytime a businesses performs a service or ships a product before getting paid, an Account Receivable is created. If customers pay before their invoice is ...
Eight Ways to Increase Profits
Increasing profits might sound like an unattainable dream, but in reality, there are a finite number of ways that businesses can increase profits. When business ...
When is a loan for business growth a good idea?
Like raising a child, there’s no set manual that comes with owning your own business. Even the best entrepreneurs struggle with making the right decisions ...
Five Numbers for a Mid-Year Financial Check-Up
June is a perfect time to take a look at company numbers year-to-date. There’s enough to time elapsed to get an accurate look at progress ...
How to Develop a Successful Onboarding Process
“Getting off on the right foot” is important for both employer and new hires. Those first days and weeks of a new job have the ...
Hiring the Right Team for Business Success
The best business plan, accounting system and products are key components for every business. But the true driver of success is the people – from ...
What To Know About Hiring Interns
Internships are often a benefit for both employer and intern. Interns get real-world experience and employers get extra help and an opportunity to get to ...
Four Payment Policies that Keep Companies in the Black
Business owners know that the battle for profitability is won or lost in details. For example, how companies handle accounts receivable affects cash flow, and ...
Costner Law: A Case Study in Managing Growth and Maintaining Balance
Working for a real estate lawyer one summer during college set Josh Costner on his career path. He began his firm in Charlotte, North Carolina ...
9 Hidden Costs That Impact Small Business Expense Budgets
The last thing every business owner wants is wasteful spending or missed opportunities. One of the worst culprits are hidden expenses that creep in and ...
When Is It Time for a New Accounting System?
Struggles with an accounting system may be a sign that it’s time for something new. Growing companies may quickly outpace an original or older accounting ...
4 Ways to Increase Revenue
It’s universal – businesses want to bring in additional revenue. Besides increasing sales from existing customers, there are other ways to increase income. Most importantly, ...
10 Ways to Save Time on Accounting
Small business accounting can be quite time-consuming, regardless of whose job it is to receive bills, pay bills, send invoices, and keep records for tax ...
Profit: Word of the Year for 2017
Instead of making a New Year resolution, think of a word to define the year ahead. Common answers are “efficiency,” “growth,” “caution,” or maybe “cash ...
Last Minute Year-End Prep for Small Businesses
Small businesses have options in the final days and weeks of the year that can save time and money. Being flexible about income and expense ...