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Case Study: The Challenges of Running a Retail Business: Accounting, Inventory, Financial Forecasting…

Case Study of a Retail Powersports Dealership:  It is a disheartening fact, but Harvard Business School reports that 75% of new business startups fail within four years. Depending on the Industry, failure rates climb to over 95% (Finance, Insurance, Real Estate). 1 Categorization: Industry: Retail, Category: Automobile Dealers, Sub-Category: Motorcycle & Powersports Dealerships Company profile: Beasley Motor Co., [...]

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Top Five KPIs to Jump Start Your Business

When operating a new business, keeping a close watch on the company’s financial health can mean the difference between prosperity and a liquidation sale. Monitoring sales numbers and operating costs are obvious numbers to watch, but when used in conjunction with other financial statistics these values can be much more useful. Like a body’s temperature, [...]

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Top Five Benefits of Using a Collaborative CFO

Large, well-established companies can usually afford to have a full-time corporate financial officer (CFO) on staff. Though smaller companies require the financial expertise of a CFO, small to mid-sized businesses usually cannot afford the salary required to retain one in-house. A collaborative CFO, hired part-time through collaborative accounting services provides an affordable option. So, small [...]

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10 Ways to Safeguard Your Business Against Fraud

The convenience of today’s technology has unfortunately opened up countless new avenues for fraud. Many small to medium sized business owners might believe their business accounts and assets to be safe. According to the Association of Certified Fraud Examiners, however, smaller businesses typically employ fewer protections against fraud and, as a result, suffer the greatest comparable [...]

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Three Ways a Collaborative Controller Will Help Your Business

For many small businesses, hiring a full-time accounting expert falls outside the available budget. Business owners either end up hiring a less-experienced bookkeeper or junior accountant to set up financial processes or sometimes decide to handle the books themselves. As a result, many business owners fail to establish proper bookkeeping and accounting systems and utilize [...]

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Five Ways to Empower Yourself as a Leader in the Office

Chances are, if you are reading this article, you do not want to be an employee for the rest of your career; you want to be an employer. Leadership in the workplace often grants a higher salary, but more importantly will give you direction and autonomy on your own career path. A skill few are [...]

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Bookkeeping Fraud: Schemes, Signs and Impact

bookkeeping fraud

  Bookkeeping fraud can have a significant impact on a business’s profits. The most common victims of bookkeeping fraud are companies with less than 100 employees, as these companies often lack the accounting control measures needed to prevent fraud. Because these businesses are so small, bookkeeping fraud can bring them to their knees. For this [...]

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Is Your Cash Flow Healthy for Black Friday?

We’re a few months away from Black Friday, which is the biggest day in retail business. And you don’t need to be an MBA to know that the concept of Black Friday is perhaps the best illustration of how effective financial planning can either make or break your small business. It’s also the day in which [...]

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How Poor Financial Planning Can Doom Your Small Business

Financial Planning Small Business

    There’s an old adage is that good news doesn’t sell newspapers. And whether or not it’s true, it’s a depressing premise either way. So with that in mind, we like to occasionally highlight good news – after all, we don’t have newspapers to sell – because despite what the media may tell you, [...]

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