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9 Things You Must Never Do


9 things you must never do

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Why Your Small Business Needs To Hire An Accountant Now


Accountant vs Book keeperSmall business owners wear many hats, but “accountant” should never be one of them. Sure, everything may seem fine, but you could be inadvertently constraining your own success and profitability. What you don’t know could be costing you more money than you realize. Here are three reasons to hire an accountant now.

Bookkeeping Is Not Accounting

Depending on the size of your business, user-friendly software like QuickBooks is probably adequate for tracking payroll, business expenses, and invoices. Bookkeeping duties don’t eat up much time for small businesses with fewer than 30 employees. Often, the owner or a part-time bookkeeper is enough for managing the day-to-day tasks. While bookkeeping is great for helping you manage your business budget, it doesn’t take care of all your business’s financial needs.

A professional with a masters in accounting has the training to offer strategic advice to grow your business. Accountants produce in-depth documents, such as profit-and-loss statements, that allow you to better analyze your business practices. They can coach you about depreciation of your assets and re-structure your business for increased profitability. Additionally, accountants offer a wealth of expertise when negotiating credit or securing capital. Read more of this post

Making A Million Dollars The Easy Way


wealthymatters

Making a million dollars is not as complex as many people believe. Play with the numbers.

Earning $1,000,000 can be:

250,000 people spending $4
100,000 spending $10
50,000 people spending $20
10,000 people spending $100
1,000 people spending $1,000

OR

What if you had a product or service that you charged $83 per month for?  You would only need 1,000 customers to earn $1,000,000 per YEAR. Read more of this post

Recruiting Via Social Media


Recruiting Via Social Media

Companies are increasingly using sites like Twitter and Facebook to recruit the right candidates. Uber Cabs and Twitter India are hiring. But unless you follow the right people on Twitter or are on their mailing list, you’ll never know about it. These companies aren’t putting out advertisements on their websites or using traditional recruitment companies to find them the best candidates; but have been sending out mailers and tweets to customers or followers. Read more of this post

The Tata Way


wealthymattersHave you ever wondered what makes a business last many generations? If so, the Tatas can teach you some things.Tata began operating as a trading firm in 1868.Today,the business consists of round a 100 professionally managed companies. Read the essay below by Ratan Tata to get an idea of the attitude that builds multi-generational businesses:

“I believe it’s really important to have companies survive over the longer term. I hate to see major corporations disappearing from the scene because someone has cashed out, because the managers have been unable to escape their comfort zones, or because boards have not been sufficiently nimble to change with the times. When these things happen, decades of effort and innovation go to waste. It’s bad when businesses don’t fight it out, whether the enemy is a competitor’s new product, an industry-transforming innovation (such as transistors), or the impact of something clearly outside a company’s control (like climate change). Read more of this post

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