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New Year’s Resolutions for a Business

The end of December is usually the time when people set goals and intentions for the New Year. The ending of a year can be a symbolic time to let go of old habits and implement new practices that will set you up for success. What are your New Year’s resolutions this year?

It is common for people to have personal goals, such as weight loss, organization, relationships, and more. People want to improve and grow each year, and these goals can help you achieve the growth that is needed.

At the same time, business owners have the unique opportunity to set company resolutions as well. As you are determining your personal goals, don’t overlook this chance to identify new goals for your business efforts.

Reflection and Forward Motion

There are two important aspects that need to be addressed as you are identifying your New Year’s resolutions. First, you need to start by reflecting on the things that happened in 2018. Identifying your current position will give you the reference point to know where you are starting. Look at 2018 with transparency and an open mind. This reflection will help you see the things that are working and the areas of improvement.

While it is easy to focus on the areas of improvement and build goals around these topics, don’t forget to identify the things that have been working. When you see the systems that are effective in your business, then you can set goals to build upon the successes and boost the progress of your company.

Next, you need to determine where you want to be in the future. It is important that you “put a stake in the road” so that you can see where you are headed. Identifying where you want to be in a few months and a few years is necessary. This vision will help you identify goals that will lead you to the overall success that you desire.

For example, if you are looking to improve your business profits by 5% this year, then you need to set business New Year’s resolutions that support this effort. These resolutions might be focused on decreasing spending, increasing receivables, and optimizing systems to improve productivity.

New Year’s Resolutions to Consider for 2019

If you are a small business owner and you need help setting your goals for the New Year, then we would like to offer a few suggestions to support your efforts. Here are some business New Year’s resolutions that you might consider:

  • Improve Work-Life Balance: It is easy to get wrapped up in business tasks, causing your family to be neglected. Instead of spending all of your waking time in the office, you need to find balance in the activities of the week. While it is important to keep up with business responsibilities, you shouldn’t overlook the most important reason why you are building a business: to have more freedom and spend more time with the people that you love. Set a goal to optimize your schedule so that you can improve your work-life balance in the New Year.
  • Delegate Busy Work: In the beginning, many new business owners carry a full range of responsibilities. Not only are you focused on business development, but you are also involved in employee hiring and management, inventory stocking, marketing, customer service, and more. It’s easy to see how your schedule quickly fills up with business-related activities! If you want to enjoy 2019, then set a goal to delegate some of the busy work. You are overseeing the workings of the company, which means that you shouldn’t be spending your precious time on tasks that can be outsourced to others. Assign internal employees to take over tasks such as filing or bookkeeping. Or, look for outsourced services to support with these tasks, such as an accounting and bookkeeping service.
  • Improve Business Promotions: If you feel like you are stuck in a rut when it comes to bringing in new customers, then it’s time to add a fresh twist to your promotion and marketing efforts. You want your business to grow, which means that you need to bring in more customers and increase the sales that happen with current customers. Create a marketing plan that boosts repeat sales and helps you promote your business more effectively throughout the year.
  • Implement an Online Marketing Campaign: The internet has become an essential part of business marketing and promotions. If you don’t have a business presence online, then right now is the time to start with your website and social media profiles. Even though it might seem a little overwhelming, a little bit of effort can go a long way to help you connect with the right customers. Most business owners don’t have the time or knowledge to implement an effective online marketing campaign. So, the best strategy is to hire a company that understands your industry and offers the services that will support your needs.
  • Hire a Business Coach: Many people start a small business or entrepreneur efforts without experience or education with business topics. While you can offer products and make a few sales, your overall progress will be hindered if you don’t know how to change your current situation. Hiring a business coach can be one of the most effective things that you can do to bring in a fresh perspective for your company. Find someone who understands your industry and can offer solid advice to improve your results. Then, take accountability so that you implement the recommendations that are offered by your coach.
  • Find Local Networking Groups: It can be helpful to have local connections in the business industry. Networking groups and business organizations offer opportunities for you to find new clients and make business-to-business connections. Attend these events and gatherings with a sincere intention to meet new people without pushing your product or service too much. Build the relationships first, and then the business growth will naturally follow.
  • Improve Cash Flow Management: Cash flow will make-or-break your company. Even if you have a great inventory and money coming in, you won’t be successful if you are spending more than you are earning. If you can’t create enough capital to invest back into the company, then you need to make a few changes with the day-to-day finances of the business.
  • Boost Productivity: Not only do you need to evaluate your own productivity, but you should also look at strategies that can be implemented to improve employee productivity as well. It is surprising to see how a few small changes can have a domino effective to improve overall results in the company. Look for ways that you can improve internal systems to support employees and management in productivity improvements.

Setting the Right Business Goals

The most important thing that you can do is make sure that your New Year’s resolutions align with the vision that you are holding for your business. You need to consider the possibilities that could happen in the future. Observe the things that are happening in the industry, and then choose proactive goals so that you are staying ahead of your competition.

When you are setting new goals, make sure that these resolutions are measurable, achievable, and relevant:

  • Measurable: Most business owners have the intention to increase profits. But setting a goal to “increase business revenue” isn’t clear enough to help you determine whether the goal was reached. Put a number on the goal and make sure that you can measure the progress. For example, you might set the goal that you want to increase revenue by $24,000 this year, which means that you need an average increase in monthly profits that is at least $2,000. Identify your numbers, then find the action steps that need to happen so that you can hit the desired milestones.
  • Achievable: You might love the idea of hitting $1 million in sales this year. But, it’s a stretch to hit that number if you barely made it to $100,000 in 2018. Instead of setting an impossible goal, look for ways that you can implement incremental steps that will move your business in the right direction. Consider your current progress and identify a stretch goal that can be reached if you put in the effort that is needed.
  • Relevant: How does your goal line up with your overall mission and vision for your company? Relevancy means that you are choosing the New Year’s resolutions that align with the long-term results that you are trying to achieve. For example, a good example is to connect with 50 new customers each month, which will help to increase revenue and build your warm market for the future. The goal should make sense for your company and improve the business in some way.

Setting New Year’s resolutions for your business can help you build momentum in the New Year and set your company up for success. If you are thinking about outsourcing options as one of your goals, then our team is here to assist. Easier Accounting specializes in small business finances. We offer a variety of services to support your financial goals and keep you on track throughout the year. Learn more by calling us at (888) 620-0770.

Effective Techniques for Cutting Small Business Expenses

It doesn’t matter how much money your company brings in… if you can’t manage expenses, then you will find it hard to make your business profitable. Companies can profit millions of dollars a year and still be “in the red” if they are spending too much on overhead costs, expenses, inventory, and more. Instead of only focusing on your income, it is also important that you look for effective options for cutting small business expenses at the same time.

Don’t Drain Your Assets

Today, we are talking about the most common things that could be draining your business bank account. As you review your bookkeeping strategies and cash flow, you will be able to identify a few small changes that can be made to have a lasting impact on the long-term profitability of your company. Don’t overlook the power that is available in the smallest system changes.

Reinvesting the money that comes into your company can help you leverage to higher levels of success. But, you need to be sure that you are using that money in the best way to get an optimal Return on Investment (ROI) for the money that is spent. Think about the ways the money will return value when it is spent on various things that are needed for your company.

For example, spending money to expand inventory can be important, as long as your sales increase so that you are selling the inventory that is coming in. Or, you might choose to invest the cash into a new marketing plan to boost your list of active customers. These examples show good ways that you can be spending your money to improve business results. Bad examples are often found when money is spent on unnecessary, frivolous expenses, such as luxurious vacations, unneeded furniture upgrades, and more.

Effective Strategies for Cutting Small Business Expenses

Often, business owners don’t see the problems because they are too focused on the management of their companies. Bringing in an outside perspective from a financial professional can be an effective way for you to identify problem areas that need to be corrected. Here are some of the things that you might find when you are working on cutting small business expenses:

  1. Review All Costs: You need to see the flow of money before you can determine where the excess is being spent. Do you have a clear picture of the way your cash flow is moving through the company? If you are unaware of the costs that are being paid, then it will be impossible to identify the right strategy for your company. So, the first step is to make a list of recurring expenses, as well as expensive one-time purchases that come up. Recurring costs might include everything from your office rental to internet services, janitorial services, and more. Categorize everything by looking through your transactions that are moving through all bank accounts and credit cards.
  2. Cut Unnecessary Spending: Now that you’ve compiled a list of expenses, you might be surprised to see that you are spending money on things that might not be necessary to run your company. For example, did you sign up for a business software years ago, but you aren’t currently using the system? Stop the membership so that you don’t have to pay a monthly fee for a service that isn’t being used. Remember that you can always sign up for the service again in the future if you decide that you need access to the software again. Every expense that moves through your company should be identified and justified. If there is anything that is unjustified, then it might be a good candidate to cut so that you can reduce your expense.
  3. Reducing Costs on Essential Expenses: Some costs can’t be eliminated, such as rent, utilities, payroll, and more. But, don’t assume that you need to pay the set amount. A few phone calls might help you find other strategies to reduce these expenses. For example, talk to your credit card companies to see if you can negotiate lower interest costs or eliminate annual fees. Talk to the internet and cable provider to find cheaper monthly service packages. Consider moving to another office location where you can pay a lower
  4. Outsource Instead of Hiring New Employees: As your business grows, you need to be careful so that you don’t lock yourself into ongoing payroll costs. Even if you need the services right now, it can be a burden to continue paying these payroll expenses in the future if you no longer need the extra workforce. Consider outsourcing the work that needs to be completed. Contractors or freelancers can assist with short-term jobs, giving you on-demand assistance when you have work that needs to be completed.
  5. Go Digital: While it is nice to send a letter in the mail occasionally, don’t overlook how much the costs can add up over time. Not only do you need to pay for the paper and envelope, but the cost of stamps and ink can add up over time. Whenever possible, look for ways that you can communicate with business connections and customers digitally. For example, if you are sending many invoices each month, then you could save hundreds of dollars by sending email notifications instead of mailing the statements.
  6. Negotiate with Suppliers: Often, it is possible to negotiate bulk pricing when you are buying a large quantity from the same supplier. If you anticipate that you will continue a long-term business relationship, then talk to the supplier about options to reduce The supplier is often happy to accommodate the request because they want to maintain an ongoing relationship with your company. Have a conversation to find a win-win solution that helps everyone get ahead in their business efforts.
  7. Reduce Company Travel: While it’s fun to have a company trip, these costs can add up over time. Sometimes, you might be able to manage the business activities over online services such as Zoom or Skype instead of meeting in person. Conducting meetings online will help you avoid costs such as airfare, hotel, car rental, meals, and more. If you choose to schedule a business trip, then make sure that you can identify the business opportunities that will come from the travel.
  8. Buy Used Furniture and Equipment: You can find great deals on equipment and furniture if you are willing to purchase used instead of new. Look at the local classified ads to see if you can find the equipment that is needed for your company. Also, evaluate your options to sell old equipment that is no longer needed. Then, the generated cash can be applied to the purchase of the new equipment that is needed.
  9. Offer Telecommuting: It might seem necessary to have employees in your office, but are there positions that could be completed off-site? Don’t assume that you need to have employees in the office at all times. More companies are offering telecommuting options as a way to improve employee satisfaction and cut costs in the office at the same time. Studies show a long list of benefits that are available for both the employee and employer when telecommuting is offered. When you reduce the number of employees in the office each day, your utility costs will go down, and you can decrease the amount of office space that is required.
  10. Evaluate Benefits Packages: Offering a great benefits package is an effective way to ensure employee satisfaction. But, be cautious so that you aren’t “giving away the farm” on the health care premiums that are paid. Shop around to see if you can find similar coverage for a lower price, helping to reduce your ongoing expenses for the benefits that are provided to your employees.

Apply one or two of these strategies in your company, and you will see that the savings add up over time. Try implementing as much as possible if you want to achieve the best results for your company.

Be Proactive with Your Cashflow Management

Improving the management of your business finances might be the most important thing that you can do to improve your long-term results for your company. It is essential that you understand the financial health of your business. This information helps you see where money should be invested and how you can cut inefficient systems.

Our goal at Easier Accounting is to help you optimize your business profitability and help you reach higher levels of success in your company. We understand how much of a challenge it can be to manage various aspects of your business while keeping up with paperwork, bookkeeping, accounting and more. These services can be customized to match your needs, helping you create the best results for the future.

If you are interested in learning more about how you can apply a new system for cutting small business expenses, then we invite you to talk to us for additional information. Easier Accounting is here to help with anything that you need. Call us to learn more about the way our services will be beneficial for your company: (888) 620-0770

New Year’s Resolutions – Financial Goals for Your Business in 2018

The New Year is often considered an opportunity for a fresh start. People begin the year with the best intentions to improve their lives and overcome bad habits. Talk to anyone that you know, and most people will have a theme for the year or some sort of personal goal that they are focusing on.

Personal Goals Impact Business Results

Often, these goals are centered around health and fitness. For example, people set resolutions to exercise more and eat less to achieve their desired weight loss results. Or, these goals might be focused on overcoming addictive behaviors, improving sleep habits, or buying a new home.

As a business owner, these personal goals can be important to help you feel better about yourself. By improving your physical and mental health, you will be in a good place to improve your business as well. Many entrepreneurs know that their business results are directly related to their personal successes.

But, setting personal goals won’t be enough to maximize the business results that you desire. If you want to increase your income this year, then you need to be willing to put in the work. It all comes down to the daily, weekly, and monthly systems that are in place to manage your business finances, inventory, client management, and more.

Do you need help choosing the right resolutions for your company this year? Here are a few suggestions to help you start 2018 on the right foot:

Resolution #1: Put a Stronger Focus on Customer Service

The satisfaction of your customers is one of the most important things that will affect your business results. If you have happy customers, then they will continue coming back to your company when they are ready to buy again. It is easier to maintain a list of satisfied customers than it is always to generate new leads.

The business world is shifting from basic customer service to personalized relationships. Instead of a scripted phone call to handle a customer inquiry, customers want to know that the company has a vested interest in the outcome of the situation.

So, companies need to step up and show customers that they are putting in the effort to outshine the competition. A few small changes in your customer service systems can go a long way to help you create the life-long relationships that you need for business success.

Also, remember that many customers are turning to the internet to share their experience with others. If someone has a good interaction with your company, then it increases the likelihood that they will share a positive review online. On the other hand, a negative experience could be detrimental to your company because of the bad review that drives other potential customers away.

If you want to succeed in this social world, then you need to be willing to put in the work that will create a good environment for your clients and customers.

Resolution #2: Strengthen Your Online Presence

There is no doubt that the internet is now an integral part of the business world. As mentioned above, many customers turn to the internet when they are looking for a local company or service. If you put in the effort to create an online presence, then it is easier to bring in customers who are interested in the things that you are selling.

Not only do you need to maintain a social media presence, but you also need a website that outlines the products and services that are available. These tools can be used to feed people into your sales funnel, resulting in an increase in your sales for the year.

There are other ways that you can leverage the internet to improve your business results. Sometimes these tools aren’t about customer interactions. Instead, you can find tools that can be used for team management and financial tracking. The dynamic nature of the internet makes it easier than ever to oversee the company success from anywhere in the world. You can go on vacation and still view reports about sales numbers, cash flow, and more.

Resolution #3: Improve Financial Tracking

Business finances are often the details that people push to the backburner. When you are facing immediate needs, such as stocking shelves and inventory orders, then it is hard to find the motivation to tally receipts or enter expenses into the financial system.

Even though these boring tasks seem like busy work, they are essential to ensure that you are meeting requirements for taxes and financial reports. The details will have a big impact on the long-term results that you achieve in your company.

If you are stuck in the rut of procrastinating your business financials, then you need to set a goal to make it a priority this year. Keep track of the costs that are incurred every day. These expenses are important business write-offs so that you can minimize your tax burden.

At the same time, you need to look at cash flow projections to determine the anticipated costs that are coming up. These factors can help you make big financial decisions so that you can improve the overall results for your business. If you don’t know the current cash standing for the company, then you could be making the wrong decisions that can have a negative impact on your cash position in the future.

Resolution #4: Outsource the Busy Work

Do you feel overwhelmed as you are trying to find the time to keep up with the data entry and financial tracking? If you are already loaded down with too many responsibilities, then it could be beneficial to outsource some of the busy work.

Some business owners choose to hire employees who can take over these tasks. But, then you still carry the responsibility to make sure that the employees are performing the work correctly. Plus, you will need to bring on the added costs of salary, benefits, office space, and more.

A cheaper solution is to outsource the tasks to an outside team instead. For example, you can hire an accounting service to oversee the financial tracking and tax preparation details. These services might cost a little money and impact your overhead costs. But, they are cheaper compared to the cost of bringing on another employee.

It is hard to quantify the benefits that are gained from these outsourced accounting services. Not only will you have an easier time tracking cash flow and other business details. But, you will also be able to maximize tax write-offs. Calculate the savings that are available for your company, and you will likely see that it is worth the investment to hire these financial services.

Resolution #5: Commit to Simplification in the Workplace

One of the drawbacks of workplace initiatives is that these goals can complicate the processes that need to be followed in the workplace. Even though your intentions are good, you need to be careful so that employees aren’t overloaded with unreasonable expectations. Employees still need the time to focus on the core job duties, instead of getting distracted with other tasks to meet the required goals

So, as you are choosing goals for the year, look for ways that you can simplify the process for everyone involved. Outsourcing is a great example of simplification. You can assign the tasks to a professional team, and let go of the worry about how these tasks will be completed. In most situations, outsourcing is an effective way to simplify your business efforts and still achieve the results that you desire.

Also, consider simplification for your daily tracking. For example, if you are still keeping financial records by hand or in a spreadsheet, then you are missing out on the benefits that are available from a good accounting software program. There is no reason why you should be doing these calculations by hand if there are tools that can do the difficult work for you.

If you don’t already have a good financial tracking system, then right now is the perfect opportunity to talk to our team about the options that can be implemented. We are focused on streamlined business solutions. Hiring an accounting service means that you can simplify your business finances, and at the same time free up your responsibilities to focus on business growth.

We have proven systems that will transform your finances and help with your goals this year. There is no reason for you to re-invent the wheel when we already know the best systems in the industry. If you want to tap into this expertise, then contacting us is the best thing that you can do for your company.

Are you ready to make 2018 the best year yet? Our team here at Easier Accounting wants to support your business goals for the year. If your resolution is to improve your accounting and financial systems, then right now is the perfect time to call us. We will take care of the financial details so that you can grow your company to higher levels of success this year. Call to learn more: (888) 620-0770

4th Quarter Financial Goals to Finish the Year Strong

4th quarter has arrived, which means that it is a great opportunity to assess your current business success. Are you on track to finish the year strong? Regardless of the financial success that you have experienced so far this year, there are a few things that you can do to wrap up 2017 and ensure that you are ready to make 2018 the best year yet. Our accounting team is looking for ways to support our clients in these efforts.

Here are a few things that you need to consider, so that 4th quarter doesn’t get side-tracked by the holiday season:

Leverage Your Busy Season

If you are in the retail business, then you are probably ramping up for a busy holiday season. It is common for retail sales to go up during this time of year because consumers are buying gifts for Christmas and other holidays that fall at the end of the year.

Not only do you need to make sure that your inventory is stocked, but you also need to be sure that you have the manpower to support the anticipated surge in sales. Failing to have the cash flow to support these efforts could result in missed opportunities for Christmas shopping.

One of the best things that you can do is talk to your accountant right now to assess your business financials. Look at your current inventory and your anticipated sales volume. Then, place orders right now so that you are ready for the busy November and December months. Don’t delay ordering the product, because you don’t want to be stuck without a product to sell when customers are looking for the products that you have to offer.

There is a reason why businesses often refer to the day after Thanksgiving as “Black Friday.” This day is often the time when the annual sales go into the black. So, the rest of the sales for the year are just gravy to fatten your profits. Using the right marketing and promotion techniques can help you leverage your results even more.

Even if you don’t sell retail products, there are ways that you can use the holiday season to boost your business efforts. For example, some service-based businesses offer Black Friday sales with discounts on the services that are available. Get creative and look for ways that you can encourage your customers to make a purchase while they are in a buying mood.

Preparing for Tax Season

When taxes are filed in the spring, our accounting team will be working with the numbers from 2017. So, right now is a great time to make financial changes if they are needed. An accounting meeting at the beginning of 4th quarter is essential to ensure that you are on-track for optimal results on your next tax filing.

For example, if you can see that the profits are coming in higher than previous years, then you might consider the option to purchase equipment needed for the office. These write-offs can help you manage your tax burden so that the results are favorable to match what you need. But, you need to know the details before the year ends, so that you can make these purchases within the calendar year.

You can’t make these decisions based on current bank account balances. Instead, it is important to review Profit and Loss reports and anticipated expenses with your accounting team. These details will help you get a clear picture of the current financial health of your company. Then, you can make adjustments or changes as needed to set your business up for financial success in the future.

Don’t Go on Auto-Pilot

4th quarter can be challenging because it is a fun time of year. Some business owners buckle down to optimize their results. But, other people take time off because of the holiday season. While it is important to spend time with your family during this busy time of year, you shouldn’t let your business goals fall to the back-burner.

Don’t rationalize the idea that you will pick up your goals when the New Year starts. If you want long-term success, then you need to be willing to buckle down to get it done throughout the year. Instead of assuming that the holiday season is a time when you should relax and take a break from the business efforts, look for ways that you can maintain continuous efforts to achieve your business goals. Find a balance between work and personal life, allowing you to enjoy the holidays without making your business suffer.

Change Your Business Perspective

Staying aware of the financial health of your company is an important strategy to help you prepare for future growth in your company. It is essential that you spend time each quarter looking at the successes and failures of the previous quarter. Identify the things that are working, and look for ways to eliminate systems that are dragging down your profit margins.

Shining light on these trends and patterns makes it possible for you to change the negative habits so that you can eliminate the bad things before the year comes to an end. You can’t do the same thing over and over again and expect different results. Instead, you need to keep your focus on the goals that you have for the future, then find ways to implement business systems that will make it possible for you to reach those goals.

In a Rut? Set New Goals for 4th Quarter

If you are a business owner who is repeating the same things over and over while expecting new results, then right now is the time that you need to make a change. Don’t let your company stay in a rut for 4th quarter goals! Instead, assess your current goals and efforts to see if any changes need to be made.

The New Year is approaching, and it will be here sooner than you know it. The work that you put in within the last few months of the year will set the tone for how your business will start in the New Year. Instead of repeating common failures, you can eliminate these bad habits to ensure that you are positioned for massive growth in 2018.

Here are a few questions that you can ask as you are evaluating your goals and success:

  • Are you on track to reach your target sales numbers for the year? If not, why?
  • What are the best activities that are bringing in more sales and revenue?
  • Where are the categories that are cutting into your profits?
  • Do you have an effective accounting system in place to show current financial reports?
  • What is working? What isn’t working?
  • Is your marketing plan bringing in the customers that you anticipated?
  • How can you leverage the holiday season to boost your sales?

Be honest with your answers so that you can see the areas where you are succeeding and failing. If you are coming up short in any area of your business, then it can be helpful to bring in an expert for advice. For example, if you are unsure about your bookkeeping and financial reports, then it is essential that you hire an expert accounting team to assist with this aspect of your business.

Set S.M.A.R.T. Financial Goals

Now that you are ready to make the 4th quarter the best quarter of the year, you are probably excited about setting goals for the last few months. While it is good to set goals, make sure that you are realistic about the goals that you are striving to achieve.

Business coaches often talk about setting S.M.A.R.T. goals. This acronym means that your goals should be:

  • Specific: Lay out the details of your goals so that you have a clear measurement to see when you reach the goal. For example, set a specific dollar amount in sales that you want to achieve before the end of the year.
  • Measurable: Generic, unmeasurable goals make it hard to see if you achieved the results that you desired. Instead of saying that your goal is to increase sales, set a goal to boost sales by 2% compared to the previous quarter.
  • Attainable: Choose a goal that is attainable within a three-month It is good to reach for the stars, but don’t shoot so high that you face failure.
  • Realistic: Also, think about realistic changes that can be made in your company. For example, it might not be realistic to design and manufacture a new product line in this short period of time. But, you could have details laid out so that you are ready for the new manufacturing by the beginning of the year.
  • Timely: A three-month goal is a great timeframe. It gives you enough time to work on the goal, without making the deadline so far out that it will get kicked down the road.

Are you assessing your 4th quarter goals? We invite you to contact our team here at Easier Accounting for help! We will review your financial details and help you see the best ways to set your company up for success in the future. Call to learn more about the accounting and bookkeeping services that we offer: (888) 620-0770

2017 Goals: Resolutions to Improve the Success of Your Business this Year

January is a common time for people to look at their goals and plan action steps to move forward in the New Year. Have you chosen resolutions for yourself or your business? If you want to boost revenue and improve the annual outcomes for your company, then right now is a great time to set a few goals that will move you forward this year.

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Do you need some ideas to help with your business goals? Here are a few things you might consider:

Simplify Daily Tasks

How much time do you spend each day completing busy work and other mundane tasks? As a business owner or manager, you shouldn’t be dealing with simple things that could be passed onto contractors or employees.

Getting rid of these simple tasks can free up your time, giving you more opportunities to focus on bigger responsibilities that will help to boost business income. For example, hiring an outsourced accounting team can reduce your workload so that you don’t have to worry about daily financial tasks. Instead, you can focus on product development and relationship management.

Maintain Consistency

Even if you start the year with good intentions, these resolutions won’t be beneficial if you fall back into old patterns in a few months. Make a commitment to stick with your goals, and find someone to hold you accountable if needed.

One option is to put together a team that will maintain accountability for everyone involved. Another option is to ask a friend or another business owner to be your accountability partner. As you are working with other people, it is essential that you have a list of actionable items that you can report on each time you talk.

Look Toward the Future

Are you preparing for big growth in the future? Even if certain systems are working right now, you might experience the situation where upgrades are needed to prepare for growth. As an example, consider the current financial system that you are using. If you are still tracking transactions manually on a spreadsheet, then you should set a resolution to upgrade your accounting system this year. Even if the manual tracking is working right now, you will quickly run into problems when the growth occurs.

Implementing systems early will reduce the stress of making the transition during a future time when the company is bigger. So, don’t delay these changes! Talk to a financial professional to learn more about how you can meet your business goals this year.

Here at Easier Accounting, we want to help you put the systems in place that will prepare your business for future growth. Contact our team today to learn more: (888) 620-0770

4th Quarter: How to End the Year on a Good Note

2016 flew by, and many small business owners are scratching their heads wondering how the year slipped away so quickly. October marks the beginning of 4th quarter, which is a great time of year to assess your current financial progress and make goals for the rest of the year.

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Evaluating Progress this Year

As you look over the year, ask yourself this question: did I accomplish all of my goals for the year? Even if you didn’t meet specific business goals, it doesn’t mean that time is up! October is the perfect opportunity to dig in and boost your results a little more this year. Take action right now before the holiday season sets in.

Talk with your accountant to see details about the revenue that has been brought in, how much was spent on expenses, and whether the numbers are matching up the projections for the year. If the numbers don’t match what you had in mind, then you can look for ways to adjust workflow and strategy to set your business up for success in the future.

Preparing for Tax Season

The beginning of the year marks the beginning of tax season for small businesses and individuals. It can be hectic to gather all of the necessary information that your accountant will be asking for. Get a head start right now so that you can easily collect the information that will be needed.

During the first month of the year, you will need to provide details about payroll for employees and payments to contractors. Your accountant can prepare the tax forms that need to be provided to employees and contractors so that you can meet the January 31st deadline.

Use Technology for Financial Tracking

If you don’t already have the right bookkeeping and accounting system in place, then right now is a great time to implement a new system. Getting started before the end of the year will give you the opportunity to work through any potential kinks before the New Year starts.

Once you have the system in place, you can be happy to have a full calendar year tracked within the software. Planning ahead can make it an easy transition. Make sure that you work closely with your accountant if you are going to implement a new bookkeeping system.

Here at Easier Accounting we are working hard to help your small business succeed. If you are interested in learning more about how accounting services can be beneficial, then we invite you to contact our team right away: (888) 620-0770