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Small Business Finance Blog

Want to gain full control over your firm’s finances but aren’t sure where to start? You’re not alone and you’ve come to the right place. Read on and reach out if we can lend a hand.

Driven Insights

The Driven Insights content team writes about all aspects of small business finance. Contact us if there's a topic you'd like us to tackle.
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Recent Posts

Nov 06, 2019

A Successful Capital Raise Starts with Your Financial Story

So your organization has reached the point where you need to initiate a capital raise. Maybe you've dialed in your business model and it's time to scale. Or perhaps you've quantified your nonprofit's operating deficit and need to bridge the gap. ...

Mar 01, 2018

Stop Managing Your Books for Uncle Sam

 

Most small business owners keep bookkeeping records because they have to, not because they want to. Said another way, they manage their firm's finances primarily for tax compliance purposes. But in so doing, they miss out on critical insights...

Feb 21, 2018

7-Step Accounting System Migration Checklist

Changing accounting systems can cause a serious disruption in your business operations. Therefore, it is crucial to have a plan in place before you get started. Follow our 7-step accounting system migration checklist to help get your new system...

Feb 12, 2018

5 Ways to Keep Personal and Business Finance Separate

When was the last time you checked your financial reports for accuracy? Making key decisions based upon inaccurate reporting can be costly - even fatal - for an organization. Central to ensuring accuracy and tax law compliance, are the controls...

Jan 18, 2018

Outsourced Bookkeeping: Why Your Bookkeeper's Exit is an Opportunity

Have you ever thought you need more informative financial reporting from your bookkeeper but competing priorities stood in the way of making a change? Have you ever used the departure of an employee as an opportunity to upgrade to a better...

Jan 03, 2018

Managing Your Cash Flow: 101

Managing your cash flow may be the single most important business planning activity you perform, in good times or bad. Whether you are wondering if you can afford that next hire, take a dividend or simply make the upcoming payroll, an...

Dec 20, 2017

4 Ways Yearend Financial Statement Preparation Shortcuts Can Hurt You

The end of year financial statement preparation is not a favorite task of most business owners. Under the stress and pressure of yearend, these important reports are often created quickly with a few clicks of the mouse and handed off to the CPA....

Dec 04, 2017

When to Hire an Employee: Be Careful to Time it Right

As a trusted adviser to our clients, we routinely have a seat at the table during the hiring debate. Business owners will want to weigh a handful of factors when considering the timing of their next hire (eg: what to pay, to whom the new employee...

Nov 29, 2017

Cash Management Practices and Strategies for Your Slow Season

Managing your firm through its slow season can be difficult. But by developing cash management practices and strategies, you'll be positioned to hit the ground running when your busy season resumes.

Nov 06, 2017

December Small Business Tax Deadlines: You've Earned a Reprieve

With the busy holiday season upon us, it's a good thing there are only a few small business tax deadlines for December. 

Oct 31, 2017

How To Make An Invoice: 5 Tips to Get Paid Faster

All business owners want to be paid promptly. But many small business owners don’t realize their invoices may be lacking the five elements that facilitate quick payments. Here’s how to make an invoice that encourages customers to pay faster.

Oct 26, 2017

3 Basic Accounts Receivable Best Practices to Increase Cash Flow

Managing your accounts receivables is crucial to maintaining steady cash flow in your business. Here are three accounts receivable best practices you can implement to clean up your books and bring in the money due.

Oct 06, 2017

Make Your Finance Dashboard Visual

Your finance dashboard - not unlike your car's - should present the most critical indicators of your firm's financial performance to help you steer it toward achieving your objectives.

Sep 28, 2017

Why Use a Balance Sheet: 3 Compelling Reasons

With all that a small business owner has to do, why add a regular balance sheet review? Won't your CPA advise at tax time if something is amiss? The fact is, an owner can't afford NOT to embrace this critical tool. Moreover, businesses are far...

Sep 25, 2017

Fundamentals of Financial Management: The Secret to Profitable Growth

HOW TO GET MORE FROM YOUR BOOKKEEPER

What are your goals for your business? Do you want to expand your market, release a new product or increase sales? Believe it or not, whatever your primary goal is for your company, the key to achieving it...

Sep 12, 2017

Why Budgeting is Important for Business: 3 Reasons

Successful small business leaders view their annual budgeting process as one of their most important managerial tasks. Ever stop to think why budgeting is important for business in the first place? Reasons abound, but here are a few.

Sep 06, 2017

Outsourced Bookkeeping Fills the Accounting Void for Rural Businesses

As a rural business owner, are you struggling with how to find a good bookkeeper or controller? This is a common problem for rural businesses, largely because a smaller town means an even smaller pool of candidates to fill a bookkeeper or...

Aug 29, 2017

Why Do a Bank Reconciliation: One Significant Reason

As a small business owner, you know all the ins and outs of your product or service, down to the most technical detail. But how much do you know about your day-to-day accounting? As long as the cash flow is in the black, you probably don’t think...

Aug 21, 2017

1 Question to Tap the Power of Your Small Business Financial Reports

Does this sound familiar? Month after month, your bookkeeper or controller dutifully produces the financial reports you need to monitor your business. And month after month, you check the bottom line on the profit and loss statement, tuck the...

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