The Financial Intelligence Guide

Price increases are usually subtle over time, mainly due to inflation.  If you are not annually reviewing and increasing prices, you will likely see margins decrease. Usually, you can increase your prices up to 7% annually before most customers notice or complain.  However, this varies by industry.

Do you own or manage a business, and desire to improve profitability?

Fractional CFO’s have become increasingly important to most small businesses. Almost all businesses have a tax CPA to help them file their tax returns. As companies grow, they typically outsource to a bookkeeping firm or hire an entry-level office manager or accountant. So then why should any business need a fractional CFO? I have found that once a business is over $1-2 million in revenue, it makes sense to hire a fractional CFO, especially if you have these questions.

I have recently had to move some complicated QuickBooks (QB) Enterprise companies to QB Online for some clients. I like QB Online because of the lower cost and flexibility for remote work and access to different users. There are some Pros and Cons that need to be considered, but lately, the Pros to moving are making it worthwhile. Check out more of the Pros and Cons in my article titled QuickBooks Online vs. Desktop? What’s Better?

Updated: July 20, 2020 You have probably heard of the Paycheck Projection Program now from the CARES Act. There have been some recent changes that are important for your cash and forgiveness of loans. Paycheck Protection Program (PPP) Loan Update

Over the last few articles, we have been going through nine ways to V-curve your business. How can we bounce back during this COVID recession?

Last time we discussed the first three ways to V-Curve your business amid this financial crisis. Many businesses saw their business dry up, and their pipeline of new opportunities dwindle. Depending on your industry, you are feeling this crisis differently. Some industries may be experiencing a lag effect, so you need to be prepared.

Amid the current COVID recession, we are all hoping the economy does more of “V Curve” rather than a “Nike Swoosh.” The V-Curve would be a quick bounce-back of the economy at previous levels. The “Nike Swoosh” is more of a slow incline that takes longer to recover. We certainly cannot control the economy in total, but we can manage our own business. As I meet with clients, we discuss ways to pivot and grow even amid economic headwinds.

Have you wondered who will be the winners and losers during this current recession? Okay, maybe it hasn’t been officially announced that we are actually in a recession, but I am sure we will be after the 2nd quarter. Some industries will do better, such as grocery stores that deliver, swimming pool companies, online learning platforms, video conferencing services, and online gaming and entertainment. Sometimes companies can just be lucky to be in the right place at the right time. But what can we do if we aren’t one of the “lucky” ones? Can we do anything to increase our odds of surviving or growing in this economy?