July 19, 2016
We can all use some advice from time to time.
Entrepreneurs are big picture, and need to be able to focus on so many working parts to make it all work. You can be exceptional and creative, and finances might not be your strength. There’s no shame admitting it!
*Bookkeeping can be broken down.
Once you’ve got a system in place, it’s quite simple to track expenses and find strengths and weaknesses in operation. While it might seem easy enough to send invoices and receive payments, there’s more that goes into planning and forecasting that can help you make important business decisions.
*Support isn’t ‘hands off’.
Partnering with a solution like KRD doesn’t mean you hand everything off and pay the price later. A good teammate will keep you in the loop and make sure you understand changes in tax, law and how they affect your business. This would ideally be monthly, not when quarterlies or taxes are due. No one likes that kind of surprise.
*Budgeting is saving.
Successful businesses are those that have a clear financial picture. Sales, marketing, and improvements all need to be made as low risk and thoughtfully as possible.