Just made a loan using kiva.org
1st person-to-person micro$ site to alleviate poverty around the globe for as little as $25
Tuesday, December 29, 2009
Wednesday, December 16, 2009
Monday, December 14, 2009
Thursday, December 10, 2009
When Do You Need A Bookkeeper?
I had a great meeting last night with a smart woman (I’ll call her Diana) who is getting her life organized. She is still working on getting the physical structure of her office set up and figuring out how to organize her paperwork (I recommended my favorite book of 2007 "Getting Things Done" by David Allen), and she asked a question I hear a lot:
“how do I know when I need a bookkeeper?”
The short answer is *everyone* needs a bookkeeper, but most people are able to do it themselves or have their accountant do it at tax time.
If you're doing your own books, the time you spend may be better spent developing new business opportunities. Accurate bookkeeping is crucial to a healthy business, but so is having the freedom to concentrate on creative direction and business development.
If an assistant is doing your books, she may be distracted by other tasks, may not have any expertise, nor have a vested interest in getting it done right.
Accountants specialize in taxes and tax law. While accountants can provide bookkeeping services, they organize your information to make tax filing easy, rather than to give you details of your financial picture. You might, for instance, track detailed sales by item or service, when an accountant might just call it all “Sales Income”. Having a good bookkeeper is just as important to the growing business as having a good accountant. One cannot and should not replace the other.
So, how do you know when you need to hire a bookkeeper?
You need a bookkeeper when you are ready to start being proactive about your finances rather than reactive. Sure, it is important to pay your bills on time and put a little away each month - but with good bookkeeping, you can evaluate the profitability of your efforts.
For instance, Diane has multiple income sources: she works freelance for two companies as well as pursuing her own clients and also working in the performing arts. She could be tracking not just how much she makes at each gig, but what her time investment and profitability is for each job so she knows where to focus her efforts. If she wants to hire an assistant, she can evaluate exactly at what point that would be wise to do so, and what her cashflow would need to be in order to be able to afford one.
Too many people hire a bookkeeper after being in business for years, when they run out of time to do the books themselves, but a bookkeeper should be part of your business team from the beginning. Bookkeeping should be a valuable tool for making smart decisions instead of one more hassle at the end of a long week!
“how do I know when I need a bookkeeper?”
The short answer is *everyone* needs a bookkeeper, but most people are able to do it themselves or have their accountant do it at tax time.
If you're doing your own books, the time you spend may be better spent developing new business opportunities. Accurate bookkeeping is crucial to a healthy business, but so is having the freedom to concentrate on creative direction and business development.
If an assistant is doing your books, she may be distracted by other tasks, may not have any expertise, nor have a vested interest in getting it done right.
Accountants specialize in taxes and tax law. While accountants can provide bookkeeping services, they organize your information to make tax filing easy, rather than to give you details of your financial picture. You might, for instance, track detailed sales by item or service, when an accountant might just call it all “Sales Income”. Having a good bookkeeper is just as important to the growing business as having a good accountant. One cannot and should not replace the other.
So, how do you know when you need to hire a bookkeeper?
You need a bookkeeper when you are ready to start being proactive about your finances rather than reactive. Sure, it is important to pay your bills on time and put a little away each month - but with good bookkeeping, you can evaluate the profitability of your efforts.
For instance, Diane has multiple income sources: she works freelance for two companies as well as pursuing her own clients and also working in the performing arts. She could be tracking not just how much she makes at each gig, but what her time investment and profitability is for each job so she knows where to focus her efforts. If she wants to hire an assistant, she can evaluate exactly at what point that would be wise to do so, and what her cashflow would need to be in order to be able to afford one.
Too many people hire a bookkeeper after being in business for years, when they run out of time to do the books themselves, but a bookkeeper should be part of your business team from the beginning. Bookkeeping should be a valuable tool for making smart decisions instead of one more hassle at the end of a long week!
Monday, December 7, 2009
Friday, December 4, 2009
Wednesday, December 2, 2009
Tuesday, November 17, 2009
Thursday, November 12, 2009
Tuesday, October 27, 2009
Friday, October 23, 2009
Tuesday, October 13, 2009
Monday, October 5, 2009
Wednesday, September 9, 2009
Wednesday, September 2, 2009
Thursday, August 20, 2009
How Many Hats Are You Wearing?
Are you trying to do more and more with the same (or less) resources? Are you doing the job that someone else used to do - on top of the job you were already doing?
If you are the boss, there isn't a lot you can do to lessen your workload without hiring an assistant our outsourcing/automating some of the general administrative tasks
But, what if you *are* the assistant, and the boss is piling more and more on your plate? Communication is key. Try these strategies to keep a happy work relationship and prevent overwhelm/burnout:
- Ask for clarity in your job title, role in the business and responsibilies - in writing if possible. That way if things change, you have a guideline to refer back to.
- Know not only what you are expected to do, but why and by when. Knowing the underlying intention can help prioritize tasks.
- If you are given an 'emergency' task, check in whether it is more important than what you were working on already or if it should wait.
- Ask for feedback, don't wait for someone to offer it. Know how your progress and success will be measured.
- Identify if there are things you need to know in order to perform better & make a plan to get the information or build your skills. Usually, these tasks must be done on your own time, but add value to you not just in your current job, but future work as well.
- Keep things in perspective - there is only so much you can do, so just focus on doing the best you can. If you can't meet an expectation or deadline, let the boss know right away!
- Find ways to chill. Take a 5 minute stretch break, eat outside (weather permitting), have a dance party in your head. Try to keep work from taking over your personal life as well.
Know that the skills you are developing now may help you run your own business one day!
If you are the boss, there isn't a lot you can do to lessen your workload without hiring an assistant our outsourcing/automating some of the general administrative tasks
But, what if you *are* the assistant, and the boss is piling more and more on your plate? Communication is key. Try these strategies to keep a happy work relationship and prevent overwhelm/burnout:
- Ask for clarity in your job title, role in the business and responsibilies - in writing if possible. That way if things change, you have a guideline to refer back to.
- Know not only what you are expected to do, but why and by when. Knowing the underlying intention can help prioritize tasks.
- If you are given an 'emergency' task, check in whether it is more important than what you were working on already or if it should wait.
- Ask for feedback, don't wait for someone to offer it. Know how your progress and success will be measured.
- Identify if there are things you need to know in order to perform better & make a plan to get the information or build your skills. Usually, these tasks must be done on your own time, but add value to you not just in your current job, but future work as well.
- Keep things in perspective - there is only so much you can do, so just focus on doing the best you can. If you can't meet an expectation or deadline, let the boss know right away!
- Find ways to chill. Take a 5 minute stretch break, eat outside (weather permitting), have a dance party in your head. Try to keep work from taking over your personal life as well.
Know that the skills you are developing now may help you run your own business one day!
Wednesday, August 19, 2009
Thursday, August 6, 2009
Using QB Data for Business Management
You spend time, effort and money tracking and entering all the receipts for your business - isn't it time you got more out of it than just an Income Statement?
July 2009 New York Enterprise report by Alan Badey gives six tips to get the most from your data to analyze business performance.
http://nyreport.com/index.cfm?fuseaction=Feature.showFeature&FeatureID=382
- keep it simple! make sure you are tracking what you need to know, but don't waste time tracking details you will never use. Find the metrics that work for you.
- use the data you already collect to "tally and compare" over a period of time, e.g. don't just look at last month, look at last month compared to last year. Look at this month compared to this year-to-date, and compare to last-year-to date.
- ask key employees for contextualizing input (any unusual events that would make the numbers better/worse than normal)
- create a budget & then update/change as more information comes in.
- use data to identify fraud
Ask your bookkeeper to help you identify what you should be tracking and help you read the reports to better understand what your organization financial reports are telling you!
July 2009 New York Enterprise report by Alan Badey gives six tips to get the most from your data to analyze business performance.
http://nyreport.com/index.cfm?fuseaction=Feature.showFeature&FeatureID=382
- keep it simple! make sure you are tracking what you need to know, but don't waste time tracking details you will never use. Find the metrics that work for you.
- use the data you already collect to "tally and compare" over a period of time, e.g. don't just look at last month, look at last month compared to last year. Look at this month compared to this year-to-date, and compare to last-year-to date.
- ask key employees for contextualizing input (any unusual events that would make the numbers better/worse than normal)
- create a budget & then update/change as more information comes in.
- use data to identify fraud
Ask your bookkeeper to help you identify what you should be tracking and help you read the reports to better understand what your organization financial reports are telling you!
Wednesday, August 5, 2009
Facebook: Groups vs. Pages
Mashable is a great Social Media guide site.
When I realized I had no idea what the difference between a Facebook Group and Facebook Page was, or which I should have for Moxie, I checked their site and found this article:
http://mashable.com/2009/05/27/facebook-page-vs-group/
It was nice to know I'm not the only one with this confusion!
Pages are more like a corporation - managed by a person, but not necessarily connected to the personal profile. Pages are also indexed by Google.
Groups are more like clubs & offer greater control over membership, but are linked to your personal page (posts show as come from you).
Given how much personal interaction I have on my Facebook, I've decided to go the Page route. Find me and become a fan!
When I realized I had no idea what the difference between a Facebook Group and Facebook Page was, or which I should have for Moxie, I checked their site and found this article:
http://mashable.com/2009/0
It was nice to know I'm not the only one with this confusion!
Pages are more like a corporation - managed by a person, but not necessarily connected to the personal profile. Pages are also indexed by Google.
Groups are more like clubs & offer greater control over membership, but are linked to your personal page (posts show as come from you).
Given how much personal interaction I have on my Facebook, I've decided to go the Page route. Find me and become a fan!
Friday, July 31, 2009
Another Reason to Save Energy
The New York Enterprise Report published:
"The Small Business and Entrepreneurship Council recently issued its 'Energy Cost Index 2009' which ranks all 50 states based on their energy costs. The report looks at how much a gallon of gasoline costs at the pump and how much electricity costs per kilowatt hour. It may be little surprise for business owners in New York and Connecticut to hear their states are tied for the second most expensive energy costs in the country. New Jerseyans didn't fair much better; their state was ranked 43rd". (Who was most expensive at 50? Hawaii)
http://ping.fm/T47oN
Makes buying new bulbs & other energy saving devices look a little more cost effective!
Share your resources/tips for saving energy - especially for keeping offices cool with less (without?) A/C.
The New York Enterprise Report published:
"The Small Business and Entrepreneurship Council recently issued its 'Energy Cost Index 2009' which ranks all 50 states based on their energy costs. The report looks at how much a gallon of gasoline costs at the pump and how much electricity costs per kilowatt hour. It may be little surprise for business owners in New York and Connecticut to hear their states are tied for the second most expensive energy costs in the country. New Jerseyans didn't fair much better; their state was ranked 43rd". (Who was most expensive at 50? Hawaii)
http://ping.fm/T47oN
Makes buying new bulbs & other energy saving devices look a little more cost effective!
Share your resources/tips for saving energy - especially for keeping offices cool with less (without?) A/C.
Subscribe to:
Posts (Atom)
