Cash or Accrual? What’s the difference?

When you start a business, you have many decisions to make. One of those is the method of accounting your business will use for reporting income and expenses on your tax return. It is an extremely important decision. With few exceptions, the method you choose can only...

Want a Business Loan? Here’s What the Banker Needs

When you apply for a business loan, your request must meet certain basic requirements. Your banker needs to have: A written request for a specific amount of money. A detailed explanation of the use of the funds. A projection of how and when you will repay the loan. A...

Where to Get Money for a Growing Business

The following sequence of events is common to a new and growing business. The Short-Term Squeeze You start your business with a limited amount of capital and an abundance of good ideas and ambition. The sales activity has been adequate to produce a net profit. Your...

What Do Nutrition and Building a Healthy Business Have in Common?

There are few common principles in nutrition that have held true for over a century, and no matter how many fad diets and “innovative” pills come onto the market promising incredible results, these principles are what lead to sustainable, healthy lifestyles. The same...

Why GAAP Accounting Is Killing Your Business

If you’ve been in business a while you’ve almost certainly encountered Generally Accepted Accounting Principles (GAAP) accounting. It’s the standard way entrepreneurs have been crunching the numbers for their businesses for nearly the past 100 years....

Use Financial Information to Increase Your Business Profits

Most successful business managers use financial information, like statements and other special reports, to generate higher profits. If you haven’t been using all the financial tools available to you, here are some ideas to get you started. There is no need to...