Five Financial Management Tips For Small Businesses

Many small business owners are driven by entrepreneurial inspiration to start their own companies. Small businesses drive new jobs and innovative ideas. However, for all the "pros" which accompany running your own business - the thrill of bringing a new idea to market, fulfilling a goal, flexible schedules - there are also challenges. Owning the business may be the simple part. Running it smoothly and profitably often can prove difficult. Following are five financial management tips that should assist in running your small business more effectively so that you can enjoy all the "pros" that influenced the decision to own a small business in the first place.

1 Develop a Budget - This is critical to the success of any business. A budget that lists your projected revenue and expenses serves as a road map in guiding business decisions and making sure you carefully consider financial decisions with the "big picture" in mind. When you create a budget, you can see the cash inflows and outflows. A budget functions as a financial barometer, allowing you to project accordingly, optimize and manage cash flow, as well as anticipate future financial needs.

2 Stay Abreast of Your Financials - As a small business owner, implement a routine practice of reviewing your financial reports. Staying abreast of your financials also equates to maintaining up-to-date accounting and bookkeeping records, as well as managing your expenses, payables and receivables. Timely and accurate access to updated financials allows you to make informed decisions quickly that could significantly impact your company's profitability.

Online Accounting Versus Destop Accounting

Every day, technology is changing the way we do business. This article is about desktop versus online accounting specifically QuickBooks Online. QuickBooks Online has a lot of positive characteristics and Intuit continues to improve all their product offerings; most of the functionality is the same. Online does have some additional features over the desktop and vice versa; however online is not necessarily for everyone. I personally find it is a matter of how you work, your budget and what your business needs are.

Pros:

• No need to wait for the next version to come out to get updates and to upgrade. Intuit updates the program approximately every four weeks.

• No need to backup separately; your work file is automatically backed up on their servers all the time.

5 Habits of Successful Women Entrepreneurs

Think about something it took you a really long time to learn, like how to drive a car. At the beginning driving a car was difficult and you had to devote a lot of mental energy to it.

After some time of practice, you get more and more comfortable with driving the car. It got easier and easier from time to time, until at some point- you even stopped thinking about it.

Habits like exercising and brushing your teeth are activities you do over and over again until they become automatic.

There are habits successful women entrepreneurs share in common. Here are some:

Vision

3 Critical Tips For Workplace Success

There is more to keeping your job than knowing how to perform the job requirements. One area of concern that is frequently undervalued is effective interpersonal communication skills for building and preserving working relationships. This dynamic can be critical for individual success at work, and ultimately the success of the company. The following are tips for producing favorable results for all concerned.

First, strive to keep good working relationships around you, and recognize there are many small mistakes that can compound if they are not properly managed or avoided entirely. Watch for seemingly small errors in relationship building. Knowing how to deal with interpersonal matters can preserve your job and make your work life, and the work life of those around you, more pleasant.

Second, be aware that some companies have policies concerning relationships between workers. There are usually policies addressing dating, marriage and employment of family members. Do not assume you know the policy where you work. Locate and read the policy in your company's employee handbook or ask the Human Resource Manager for clarification. It is one area you must understand.

Read About The Benefits of Accounting Jobs

Accounting jobs are flexible and it is up to the accountants to decide how high they want to climb the success ladder. If you are an individual who aims high in your career, selecting prestigious firms to work long hours will be ideal. However, government jobs with fixed time will do well for one who does not want to be on the go all the time. Niche markets opens up opportunities before accountants, offering them high income. The corporate world is all ready to welcome educated and trained accountants. Where you want to be in accounting profession is totally up to you.

Working days for accountants are usually Monday to Friday. However, Tax season can be demanding and it might call for extended working hours, depending on client meetings and requirements. Government employed accountants can work their regular time of 40 hours in a week, but it may not be the case with accountants who are self-employed or work in large firms. Here, the working hours will be more flexible but extended.

Accounting jobs are highly prestigious. Special degrees, certifications and licenses will open up opportunities to develop continuously in accounting career. The market of an accountant depends on the degrees, license and certificates he or she holds. There are many instances of accountants who started their career humbly and reached enviable positions in the corporate world.

30 Seconds to Shine

I don't know about you, but I network ALL the time. When I went full time with my business back in 2008, I attended at least one networking event each day. All of that meeting people required having some great 30-second commercials at the ready.

Unfortunately, not everyone puts as much effort into networking.

When I was at an event the other day, I was the only person in the room with a cohesive commercial, complete with a tagline; I received a round of applause when I sat back down.

Some of the worst presenters of their value are job seekers. So often, they stand up with no idea how to share a 30-second presentation, which means they lose that valuable time! It's just part of the conversation that I have with job seekers to talk about what they should share at a networking event. I am adamant that a resume by itself will likely NOT land them a job; they need to incorporate networking and social media to be more effective.