Tax time is usually the time when most small business owners think about their bookkeeping system. All year they have been collecting receipts in a drawer and it isn't until about a month before the tax accountant calls that they think... "Uh oh, I have to get my books in order so I can get my taxes done!" This is also the time of year when I'm asked to help someone set up a system for the bookkeeping and help them organize their work because they don't want to "go through this again next year".
Core Future Growth Blog
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…