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Archive for the Profitability Tips Category

Home → Profitability Tips

Five Ways to Streamline Data Entry

On January 22, 2015   /   Bookkeeping Tips, Profitability Tips  

Are you manually entering data into your accounting system? If so, there may be a way to enter that data that’s faster, cheaper, and better. Data entry automation has come a long way. Here are five common ways to automate data entry so that it no longer

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How Understanding Assets vs. Expenses Can Make You Rich

On October 30, 2014   /   Business Development, Business Tips, Management Tips, Profitability Tips  

Assets and expenses both have a “debit” balance on the financial statements, but that’s where their similarities end. Spending on one can make you rich and spending too much on the other can leave you broke. An expense is money you may need to spend, but after

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Is Your Business Using the Right Accounting System?

On February 6, 2014   /   Accounting, Business Tips, Profitability Tips  

Have you ever tried on a shirt or jeans and found they didn’t fit at all?  They looked great on the hangar, but that was the end of it.  Accounting systems come in all sizes, shapes, and colors just like clothing; and just like clothing, some accounting

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Optimize Your Revenue Mix for More Profits in 2014

On December 12, 2013   /   Bookkeeping Tips, Business Development, Profitability Tips  

Many small business owners focus on generating more revenue every year, and that’s a great objective.  But not all revenue is created equally.  If you sell more than one product or service in your business, then you can benefit from looking at your revenue mix. Although it’s

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Avoid the Three Biggest Sales Mistakes and Close More Business

On October 17, 2013   /   Business Tips, Customer Service Tips, Management Tips, Profitability Tips  

Every sales lead is precious.  It takes a lot to get people’s attention these days, and once a lead or prospect comes in your door, you’ve accomplished that hurdle, but now you have another one:  getting the business.  To ensure you can turn those prospects into paying

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Five Fall Projects to Refresh Your Financial Results

On October 3, 2013   /   Business Development, Business Tips, Management Tips, Profitability Tips  

As we move into the fall season and the final quarter of the year, it’s a perfect time to commit to a project in your business that will help you reach the year’s end in better shape.  Here are five ideas:  1.      Back-to-School Time If payroll expenses

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Do You Know Your Small Business Vitals?

On September 5, 2013   /   Accounting, Bookkeeping Tips, Business Development, Business Tips, Management Tips, Profitability Tips  

On a doctor’s visit, the first thing the nurse does is take your vitals:  your temperature, blood pressure, pulse rate, and respiration rate.  These basic measurements are the first place doctors look to see if something is wrong with our health. Knowing your vital signs, and especially

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Five Ways to Rev Up Your Referrals

On August 22, 2013   /   Business Development, Business Tips, Customer Service Tips, Management Tips, Profitability Tips  

In the vast majority of industries, referrals are the most cost-effective way to gain new clients and grow your business.  When you attract new clients through referrals, your marketing costs are lower, your selling process is easier and more effective, and the referral usually makes for an

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What Does Popeye Have to Do with Accounting?

On August 8, 2013   /   Accounting, Bookkeeping Tips, Business Tips, Expense Reduction Tips, Management Tips, Profitability Tips  

You might have heard the terms “cash basis accounting” or “accrual accounting.”  Your net income number can change depending on which method your books are set up for.  Here’s a simple explanation of the difference, with a little help from one of the most famous cartoon characters

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Budgeting Breakthrough

On July 11, 2013   /   Accounting, Bookkeeping Tips, Business Tips, Cost-Savings Tips, Decision-Making Tips, Expense Reduction Tips, Profitability Tips  

When you hear the word “budget,” what do you think about?  Most people would say something similar to “Ugghh!” If you would rather do just about anything besides create a budget, you’re not alone.  The word “budget” brings up connotations of endless numbers, constraints, the opposite of

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