Mindful Business Musings

Most people misuse QuickBooks and don’t even know it. QuickBooks is a great accounting program for small businesses. QuickBooks got to be the country’s most popular accounting software because of its ease of use and its great reporting capabilities. That ease of use, however, causes businesses...

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Many business owners think that by hiring a bookkeeper they are covered when it comes to accounting and financial management. This is a MYTH. An experience with a new client illustrates this point. The client called me because he felt he didn’t have control over his business. He didn’t know...

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Of all the small businesses that fail, only 10% go bankrupt. The other 90% made a conscious decision to close their doors. Most just threw in the towel. What caused such a high rate to give up? 50% of the reasons are financial management related. Here are some examples: Chronically tight cash flow produced...

Read more about Don't Let Your Business Get You Down

Last week I put forth the idea of hiring an outsourced CFO even before you open your doors to business. Recently I consulted a lady planning to start a new business in the next few months. She had already spent about $10,000 of her own money on equipment and was looking for additional funding to pay...

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It’s unfortunate that outsourcing has such a negative connotation because outsourcing could be key to your businesses success. It’s true that collectively, companies have shipped tens of thousands of jobs overseas. Although I’m not here to debate the wisdom of this strategy, I can tell...

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Outsourcing has been given a bad name by the transformation of U.S. businesses over the past several years. “Send jobs abroad because labor is cheaper” is the mantra. Using cost as the sole justification for doing something often has the opposite effect of the one desired. Take manufacturing...

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In my experience, most small business owners not only don’t have the information they need to manage profitably, but they often don’t seek out that information. Why would these people risk their hard earned money this way? Why are they seemingly at ease with odds for success that rival Las...

Read more about Awaken The Business Mind

What does it mean to be mindful in the business sense? The word “mindful” evokes the thought of moral, courteous and conscientious behavior. Certainly these are important components to being mindful. Successful entrepreneurs know that ethical actions are only half the story. Do you make business...

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