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Client-based business success isn’t just about winning new business—it’s about making sure every project and relationship contributes positively to your bottom line. That’s where tracking project/client profitability becomes an essential KPI for agencies. This metric reveals whether your efforts are… Read More
Posts Tagged ‘financial planning’
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How to Prepare Your Business for a Financial Audit
Preparing for a financial audit may seem intimidating, but it doesn’t have to be. Whether your business is facing a mandatory audit due to regulatory requirements or voluntarily initiating one to improve financial transparency, being prepared is key. A well-prepared… Read More
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How to Use Financial KPIs to Measure Business Success
Understanding the financial health of your company is more important than ever. One of the most effective ways to gain this insight is to use financial KPIs (Key Performance Indicators). Financial KPIs are quantifiable metrics that help business owners and… Read More
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How to Create a Financial Plan for Your New Business
Starting a new business is an exciting venture, but it requires meticulous planning to ensure success. A financial plan is a crucial component that helps new business owners map out their strategy for profitability and sustainability. Here’s a comprehensive guide… Read More
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How to Manage Cash Flow in a Service-Based Business
Cash flow is the lifeblood of any business, but it is especially crucial for service-based businesses where inventory management and physical products don’t come into play. In these types of businesses, where services are rendered before or after payment, keeping… Read More
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A Handy Guide on the Depreciation of Fixed Assets
Depreciation of fixed assets is a crucial process that businesses undertake to gradually reduce the recorded cost of their fixed assets over time. Fixed assets such as buildings, furniture, and office equipment can be depreciated, with the exception of land…. Read More
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What’s the Difference Between Amortization and Depreciation?
If a company acquires assets like company vehicles, corporate headquarters, or patents, these assets are expected to provide benefits to the company over an extended period rather than just in the period they are acquired. To reflect this expected value… Read More
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The 3 Types of Financial Statements For Small Businesses
For small business owners, keeping a close eye on the health of their business is the key to long-term success. Especially for first-time business owners who have decided to jump in head-first, it can be very difficult and overwhelming once… Read More
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Tax Deductions Every Small Business Owner Should Know About
Many small business owners dread tax time, as it means looking through all of their receipts and trying to determine whether or not they can claim any tax deductions from them. This process can be incredibly confusing, and many businesses… Read More
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Financial Metrics Every Small Business Owner Should Track
Owning a business is a lot of work. In addition to the actual work that your business does – selling, landscaping, fixing, treating, etc. – you also have to do all of the tasks of a business manager. And of… Read More