Business Basics

Struggling to eliminate Confusion and Uncertainty in your business? Our Business Basics series provides simple explanations for complex topics like bookkeeping, keeping a budget, how to determine pricing, and more.

The Top 5 Expense Tracking Tools for Small Businesses

How do you track your small business's expenses? As you grow, this becomes a complex challenge that can create inefficiencies and difficulties. Luckily, these 5 expense tracking platforms are designed to help small businesses thrive.

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QuickBooks vs. Xero: What's the Difference?

QuickBooks Online and Xero are the most popular accounting platforms on the market. What's the best fit for your small business, and how do you know which one to choose? Both offer some standout features, but there's a clear winner.

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What's the Best Online Bank for My Small Business to Use?

There are tons of online banking tools out there. How do you know what's the right fit for your small business? What are the factors to consider when deciding on who to bank with as a business owner?

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8 Ways to Stay Productive as a Small Business Owner

Staying productive for new small business owners and first-time entrepreneurs can go one of two ways: it's either a firehose of productivity that ends in burnout or it's a feeling of lost panic that sets in on the 3rd day of working from your bedroom. These 8 ways to stay productive can help!

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5 Ways to Know If You're Ready to Rent an Office as a Small Business

There are a lot of considerations that go into renting an office space. Many stem from needing to understand your financial position and what the future may hold for you (via forecasting). These 5 core signs are indicators that a small business owner may be ready to sign a lease.

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The Top 5 Financial Ratios Every Business Owner Needs to Be Using

Net Profit Margin, Current Ratio, Debt Ratio, Return on Assets, Inventory Turnover Ratio - there are tons of financial ratios that can serve a small business owner in understanding their business on a deeper level. The question remains, what financial ratios should small business owners look at?

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QuickBooks vs. Wave Accounting: What's the Difference?

QuickBooks Online vs. Wave Accounting: what's the best fit for your small business? There are many factors to consider when choosing the right accounting software for your new company. If you're a first-time entrepreneur, this comparison article can help you choose between some of the most popular options!

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The Top 7 Reasons You Need a Mentor as a Small Business Owner

Mentors are hugely impactful to small business owners. They help to reframe problems and allow business owners to look at their company from a 30-thousand-foot view. There are 7 main reasons you should work with a mentor or coach as a small business owner.

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How Long Does it Take for a New Business to Become Profitable?

Most businesses fail within the first 5 years. Many entrepreneurs start their businesses as hobbies and grow into running them full-time. But how long does it really take for a business to become "worth it?" What should a new entrepreneur expect?

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3 Reasons Why Your Business Needs an Emergency Fund Today

An emergency fund is often considered a personal finance must-have, but it's also essential for small businesses. To ensure that your business is weathering any future storms, consistently capable of taking advantage of opportunities as they arise, and ensuring the future of your employees, create an emergency fund!

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5 of the Best Accounting Platforms for Smart Small Business Owners

What's the best accounting software for my small business? There are numerous options when choosing accounting software for your growing company. Review and compare QuickBooks Online, Wave Accounting, Xero, Zoho, and Freshbooks to find out which system suits you best!

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How to Easily Understand Debits and Credits for Small Business Owners

Debits and credits are the foundational components of the accounting language, but they can be incredibly confusing to think and talk about. What are the basics? How does accounting actually work, and how can a better understanding help my business?

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The Top 7 Signs Your Business Needs a Financial Coach

A financial coach is an expert that helps businesses organize and manage their finances. Financial coaching can help businesses maintain budgets, manage cash-flow, make informed decisions, and implement financial systems and processes that take a business to the next level!

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How to Effortlessly Understand Cost of Goods Sold for Small Business Owners

Cost of Goods Sold (or COGS) are expenses directly related to a business's income. Why is this important for a small business owner, and how can a deeper understanding of COGS help guide financial decision-making?

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What is a Statement of Cash Flows, and How Can it Help My Business?

Cash flow statements show stakeholders how well a company manages its cash. They may not seem essential or beneficial to your business, but accurate cash flow statements are crucial to keeping track of your business's operations. Learn more about cash flow statements, why they're essential, and how to read them.

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What is Free Cash Flow and How Can I Calculate It?

Managing and measuring Free Cash Flow can provide many insights to any small business. It's easy to calculate, shows how your business is utilizing its money and can help paint the financial story of your business.

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3 Ways Small Business Owners Can Use Profit Margin to Guide Their Business

Selling profitable products and services often feels like a moving target. Using Profit Margin to calculate the amount of money that you're making in your business on individual products, your operating expenses, and your overall profit, you can more effectively guide your decision-making!

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How to Read and Clearly Understand a Statement of Profit and Loss

A statement of Profit and Loss is a financial statement that allows a business owner to quickly and clearly understand their income and expenses. Statements of Profit and Loss are broken up into a few categories, and when understood effectively, they're incredible tools for growing a business!

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How to Confidently Understand a Balance Sheet for Small Business Owners

A balance sheet is an incredibly important tool that can help business owners understand their financial position and make critical decisions about the future of their company. Understanding a balance sheet can be difficult, but this guide clearly explains the formatting of a balance sheet to help small business owners quickly understand the financial statement!

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The Best Chart of Accounts for a Service Business (Free Excel Download)

What is a chart of accounts and what's the best one to use for service businesses? This informative article defines many questions about charts of accounts and provides a free Excel download of a sample chart of accounts!

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How to Pay Contractors in 3 Easy Steps

How do you pay independent contractors? What even is an independent contractor? Regardless of if you're a new business or one that's been around for decades, paying people can feel like a headache. Luckily, we can simplify the process once we understand what's needed!

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5 Key Things to Look for in Orange County Bookkeepers

Finding a bookkeeper in Orange County, California, can be a difficult experience. What are good questions to ask a bookkeeper? Is a local bookkeeper near me better than a virtual bookkeeper? Let's dive into the best things to look for when hiring a bookkeeper.

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Why Does it Take So Long to Get Paid for Commercial Work?

Working for large companies is an excellent way to make a lot of money, but getting paid can be a different story. This is why it takes so long to get paid for commercial work.

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What is Net 30? How to Better Understand Payment Terms

Sending out invoices to a larger company? Here’s a simple guide on how to understand payment terms.

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Why You Shouldn’t Use Venmo to Pay Contractors

Venmo and Cash App are some of the most popular tools in the world for sending money back and forth between friends. But, should it be used for paying contractors?

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The Ultimate Guide to Simple Marketing

As a creative business owner, it’s easy to feel outmatched when it comes to creating your marketing message. With these simple marketing basics, you’ll be able to confidently create marketing campaigns that elevate your business.

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A Simple Guide to Selling Anything

If you’re struggling to book jobs or sell your service, you don’t need smarter words or the slick wit of a used-car salesperson. You just need a better sales process.

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The Easiest Way to Achieve Your Business Goals

How to set your creative small business up for success by creating a simple plan and achievable goals.

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5 Reasons Your Small Business Needs a Bank Account

A business bank account is one of the very first steps that need to be taken when setting up a successful small business. Even for freelancers, a business bank account can make a huge difference.

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How to Easily Pay Estimated Taxes Online

Freelancers and small business owners alike are often required to pay estimated taxes to the IRS on money that they make that isn’t automatically withheld. Here’s the easiest way to pay your estimated taxes online.

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How to Effortlessly Build a Better Business Budget

Building a budget for your small business is important. This type of financial document should be a living, breathing thing that you reference often. But, how do you actually build one that’s useful? Here are 5 easy steps for creating your first budget.

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5 Reasons Your Business Needs a Budget

A budget enables small business owners and creatives alike to get a quick snapshot of their business’ financial health. We’ll answer the questions, “What goes into a budget”, and, “why do I need one?”

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What is Bookkeeping? The Ultimate Guide

For many Small Business owners, bookkeeping is a vaguely unfamiliar yet necessary part of running a business. We’ll work on answering the questions, “What is bookkeeping, and why is it important for my business?” It's time to clear up the confusion and uncertainty around bookkeeping.

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