When it comes to getting work done in your business, you have the option of hiring independent contractors or traditional employees. Both types of workers can get the job done, but there are pros and cons of each that you need to be aware of.
Managing your company’s accounts receivables is one of the most critical aspects of fiscal health. Yet, many business owners fail to effectively handle their accounts receivables, either directly or indirectly. Poor accounts receivables policies can lead to a bevy of problems involving client relations, cash flow, tax return complications and even legal issues. Seven of the biggest mistakes in handling accounts receivables are outlined here, with advice about how to avoid each one.
The role of Business Intelligence (BI) in your client’s company can be so pervasive and transformative that in many cases it can save their business. The basic spirit behind BI is what some call “data surfacing”—the process of taking large amounts of raw data and turning into meaningful, strategic information that the business can act upon immediately.
Here are three big ways that BI could potentially save your client’s business:
Artificial Intelligence (AI) has seen stunning development in recent years, and these improvements are wiggling their way into the day-to-day operations of small businesses faster than many business owners realize.
Every business owner wants growth and profit. No one wants to sit back passively and miss out on opportunities. However, as noted in Rhonda Abram’s analysis in USA Today, it’s easier said than done: there’s a certain key combination of factors that must be achieved. The key is coming up with the right combination of resources and steps to take to achieve “growth.” There are big problems with growing a small business opportunistically. Most importantly, you can’t control it or count on it. Stated another way, growth needs to be planned for following a systematic and rational approach, otherwise any so-called growth that comes out of the process will arguably be nothing more than “accidental success.” On the other hand, opportunity, especially big opportunities, often mean demanding clients that can distract you from building your core business.
Carefully crafted, plainly understood communication is fundamental to the establishment of relationships, whether personal or business. If there is ever going to be a meaningful exchange of thoughts and emotions it will be through effective communication.
What is a workflow?
A workflow is a list of repeatable tasks that need to be performed in order to achieve a particular business goal. A workflow documents the procedures and processes that form an organization’s “assembly line,” so to speak—the order of steps that need to be performed to get from start to finish.
This article tries to draw attention to the role that accountants could play as business advisors within your business. Historically, accountants occupied the position of “bean-counters,” which essentially focused on what happened in the past, not on what the future of the business holds.
This has changed, and it’s important to understand the dynamics of how it works in today’s business context.
A green business is a business that cares about its profitability while at the same time is constantly attentive to the impact the business has on the environment.
As noted in a recent report UCLA’s newsroom, contrary to the idea that environmentalism hurts economic performance, a UCLA-led study has found that companies that voluntarily adopt international “green” practices and standards have employees who are 16 percent more productive than the average. Professor Magali Delmas, an environmental economist at UCLA’s Institute of the Environment and Sustainability and the UCLA Anderson School of Management, and Sanja Pekovic from France’s University Paris–Dauphine conducted a study how a firm’s environmental commitment affects its productivity.
If you’re contemplating executing a business project and want to be as prepared as you can be then we highly recommend you dig your teeth into the following information.