Finance
Special Tax Concerns for Cash Businesses
Many small businesses do some or all of their transactions in cash. This raises some special issues and concerns. Technically, being paid in cash doesn’t make a difference in terms of income taxes; cash transactions…
Raise Money on Good News
The first rule for raising money is to do it on good news—right when sales are increasing at an increasing rate. Or when a major customer signs a significant deal. Or when something happens that makes an…
Think Like a Banker and Get the Loan
Jim Blasingame is a small business owner’s best advocate. Jim and I caught up last week and these are the three small business tips every business owner should know, but doesn’t. Apply for a Loan…
6 Best Practices in Billings and Collections
One area where most small-business owners can improve their cash flow is in billings and collections. A thorough credit check before you offer payment terms is not enough. Here are six best practices that can…
5 Ways to Decrease Your Business’s Warranty Costs
Customer warranties can cost small manufacturers greatly because of repairs and replacements. It also puts goodwill and brand value at stake. And when handled improperly, warranties make companies lose business and revenue almost irretrievably. Manufacturers…
Innovative Mobile Payment Solutions are on the Rise
Back in 1997, the first mobile payment option was introduced for two Coca-Cola vending machines in Finland. They allowed you to pay by texting, and so the world of mobile commerce was born. Since then,…
“We Can’t Justify Your Price…”
We were debriefing a closing call. Bill’s solution had been selected. Bill had done a great job in competing and in justifying the value of his solution. There was a strong business case demonstrating tremendous improvements…
5 Small Business Bookkeeping Tips for New Business Owners
Raise your hand if you absolutely love handling your small business bookkeeping requirements. There sure aren’t many hands up—and that’s pretty common. Documenting all payments, expenses, deposits, and withdrawals can make your head spin. The…
Angels and VCs: Don’t Be Greedy Even if You Can
Sometimes the end game or sale of the company is not a happy event for the early investors, including the entrepreneur or the founders. Especially when outside investors, venture capitalists or angels have put in substantial…
4 Great Tips to Anxiety-Free Taxes for Small Business Owners
For most people, tax time only comes once a year, but for small business owners and the self-employed, it rears its ugly head in the form of quarterly tax payments four times a year. And…
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