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Core Future Growth Blog

Financial Consultant: I Will Not Write Your Business Plan For You

Posted by Stacy Luft on Thu, Sep 20, 2012

On occasion I’m asked whether or not I’ll help someone write a business plan.  I am often left feeling like I should say yes, and needing to defend my answer of “no”. For a long time I have focused on how much it would cost the small business owner to have me do it for them. In my opinion, when you are first starting your business, you need to reserve as much cash as possible. It will take at least twice the amount of money and time as you think it will take to get started and you will need the cash to keep a roof over your head. By the way, STOP spending $5,000 on a website before you even get started! Start with a basic stock site and upgrade to a more sophisticated site later when you are making money. But I digress…

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Topics: Financial Planning, Financial Consultants, Small Business Consultant

Financial Consultants: Bookkeeping vs. Accounting: Why You Should Care

Posted by Stacy Luft on Tue, May 15, 2012

What is the difference between bookkeeping and accounting and why should I care?

What is Bookkeeping?
  •  Bookkeeping is the recording of daily transactions that follow a defined process in a cyclical manner. Bookkeeping is broken down into parts such as Accounts Payable, Accounts Receivable and Payroll. Think of bookkeeping as the foundation of your financial data.
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Topics: Financial Planning, CFO For Hire, Financial Consultants