5 Pain-free Strategies for Reducing Operating Expenses

Julie Babcock-HydeCash Flow0 Comments

Pain-free strategies

    Approximately 80% of small businesses are break-even businesses. A problem faced by many businesses is that as their revenue grows, so do their expenses. To run a successful business, your revenue must exceed your expenses.   A penny saved is a penny earned. This age-old adage applies both to your personal life and your business.   Help your … Read More

Could Your Business Survive a Disaster?

Julie Babcock-HydeDisaster planning0 Comments

business disaster planning

As business owners, we want to remain optimistic about our business’s future.  But life can happen, and we need to be prepared.  A good business owner thinks about all the risks to their business and has a plan in place to reduce or eliminate them.  In 2017, we’ve already had floods in the Midwest and California, a healthy dose of … Read More

The Power of Influencer Marketing

Julie Babcock-HydeMarketing0 Comments

marketing influencer

One of the hottest buzzwords in marketing this year is influencer marketing. Influencer marketing uses key people in thought leadership positions to spread the word about your brand.  These people may be paid or unpaid spokespersons for your brands, products, and services. The profitable thing about influencer marketing is the leverage.  Instead of marketing or selling to one person at … Read More

What Is Reasonable Compensation?

Julie Babcock-HydeSmall Business0 Comments

compensation

For small businesses formed as an S Corporation and with plenty of profits, reasonable compensation is a term you may want to be familiar with. S Corporations Many small businesses have organized as an S Corporation form of entity.  The S Corp election allows a business owner to save money on self-employment taxes which can be especially helpful if they … Read More

When Do You Need an Accountant for Small Business?

Julie Babcock-HydeSmall Business0 Comments

when do you need an accountant

    When should you involve an accountant in your small business? Simply put, all business owners should consider getting an accountant involved before they even launch their business.   Having an accountant involved from the beginning will help alleviate, or avoid, headaches and make sure you start off on the right foot. How An Accountant Helps Before You Start … Read More

Five Ways to Streamline Your Payroll Process

Julie Babcock-HydePayroll, Small Business0 Comments

streamline payroll process

For business owners with employees, payroll is a necessary task that can slow your day and tie you down if you let it.  If you’re looking for a way to make payroll less time-consuming, here are five ideas you can put to good use: Employee Onboarding If you hire a lot, empower your new hires by letting them do their … Read More

Traditional Accounting Just Might Be Messing Up Your Profits

Julie Babcock-HydeProfitability0 Comments

Traditional Accounting Profit

    Traditional accounting is failing small businesses in three key ways:   Too many small businesses are break even. A break even business typically means that these businesses are only two weeks of collections away from being insolvent. Approximately 23 million out of 28 million of small businesses are in this category – that means that 80% of small … Read More

Eight Ways to Increase Your Profits

Julie Babcock-HydeProfitability, Small Business0 Comments

Increasing your profits might sound like it’s an unattainable dream just out of your reach. But there are a finite number of ways that profits can be increased. Once you understand what they are, you’ll have clarity on how to best reach your goals. There are two primary ways to increase profits: Raise revenue Lower expenses That’s not particularly enlightening … Read More

Five Ways to Add Pizzazz to Your Customer Service

Julie Babcock-HydeCustomer Service0 Comments

customer service

It’s the little things that add up to make an exceptional experience for your customers. Here are five “little things” you can add to your services to create an exponentially memorable connection with your customers. Generosity   Add a little extra something to the products or services you offer. It could be a piece of chocolate like Hershey’s® Kisses®. Maybe … Read More

The Death of the Annual Performance Review

Julie Babcock-HydeUncategorized0 Comments

annual performance review

If you have employees, you probably also have a process to help them understand how they are doing on their job performance. There’s a new trend in large companies to kill the annual performance review and replace it with continuous, instant feedback as well as a tool called an after-action review.   After-Action Review An after-action review (AAR) is a … Read More