3 Big Entrepreneur Growth Opportunities

You have probably already started your business- why else would you need bookkeeping services? But that doesn’t mean you can’t keep any eye on what is going on in the world of business and where the growth areas are happening.

For one thing, it may be an area you can shift some of your business into to kick things into high gear. Or it may be an area where you have enough interest or expertise that you could sell what you’ve got now and move into the new area for a high growth opportunity.

In any event, I think all true entrepreneurs get excited hearing about new opportunities and even if you are content in what you are working on it is always fun to hear about where others are about to make a splash. check out the three areas below and see if they get you excited!

The

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Accounting for Growth in Your Small Business

For many small business owners, growth is more of an accident that happens than a well executed plan. That works fine when everything is going well and the economy is a rising tide lifting all boats, as the saying goes, but when things get tough, like they have been the last several years, growth becomes something you have to do rather than something that happens.

If you have to plan for growth (and this includes not just marketing but making sure the accounting makes sense as well) , then you have the even tougher job of executing on the growth. But what often happens here is that in the beginning you have time to work the plan, but as the plan starts to work you back off the plan to deal with the current situation and the growth slows down again- often just at the time you invested in new …

Business Structure Options to Consider

Here’s a good run down of the options open to structuring your small business. I lean towards the S-Corp for most business owners who are making at least $50K per year in profits as it will save you money on taxes and also provide you a good layer of protections beyond just having insurance. It depends on your specific business situation of course.

If you decide you would like to convert your business to an LLC or Corporation (S or C) or would just like to discuss your specific situation in more detail to help decide what makes the most sense, give us a call and we’d be happy to help walk you through the choices.

To help you assess what’s right for your business, here’s a run-down of the most common business structures in the United States. As expected, there can be significant tax implications involved and it’s always

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4 Tips for More Effective Small Business Marketing

One of the biggest challenges I see whenever I talk to our bookkeeping clients is that they have little or no organized marketing. I understand why- things often get busy and there can be a lot of fires to put out which makes marketing take a back seat. But then, when things get slow, there is no built in base to fall back on to help sustain and achieve growth.

The right answer, in my opinion, is to dedicate a few hours a week to marketing and stick to it whether you are busy or slow.

The other critical point is to make sure you are spending your limited dollars the most effective way, which is the point of the article below. When many business owners do get around to marketing, they don’t do it as effectively as they could, at best costing them more than required and at worst …

Online Sellers Now Having Sales Reported Direct to IRS

If you are doing your bookkeeping right then this isn’t going to be an issue for you anyway but for those who were treating their online side business as a tax exempt cash cow the party is over.

The payment gateways, mainly PayPal, but it applies to any company offering the service, is now required to file notice with the IRS of how much cash they’ve sent to your account if you have more than 200 transactions or over $20,000 in deposits.

Again, if you are really tiny then this won’t matter or if you were running your business correctly the whole time then you are fine but if you have been playing it loose the good times are at an end. The government is sure it needs your money more than you do and now it has a new way to keep you honest!

Have you had a nice

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