In Pursuit of Profit - Blog

The Process of Hiring an Accountant

2/28/2019

The Process of Hiring an Accountant

In the early stages of running a business, owners typically manage finances themselves or utilize a bookkeeper to maintain financial records. As the company grows, however, day-to-day operations change, and financial needs become more sophisticated.

Finding a solution that scales with the business often requires hiring an accountant.

Common Projects that Need a Specialized Accountant

1/28/2019

Common Projects that Need a Specialized Accountant

One mistake that unites all small business owners is trying to do too much in-house. Small business owners are naturally cost-averse, which makes them less likely to outsource financial needs when they arise. They are far more likely to bumble through the numbers related to essential projects themselves or consult a bookkeeper for ad hoc assistance rather than hire a specialized accountant to do the job.

What Makes Non-Profit Bookkeeping Unique

1/21/2019

What Makes Non-Profit Bookkeeping Unique

Accountants refer to non-profit organizations as Not-For-Profit Entities, or NFPs colloquially.

Organizations that support the arts, environmental causes, churches, youth groups, local business alliances, social causes, and professional associations can all be NFPs with the correct paperwork.

Which is Better: A Freelance Bookkeeper or An Accounting Company?

1/14/2019

Which is Better: A Freelance Bookkeeper or An Accounting Company?

Organizations looking to outsource their financial needs often wonder who is best qualified to handle the intricacies of their business operations.

With the multitude of options available the landscape of potential financial solutions is vast. Factor in the solutions catered specifically towards SMBs, local businesses, privately-held businesses, and businesses in designated industries and the result is an overwhelming sea of possibilities.

Within these choices are two distinctly different options – freelancers and large firms.

Top 10 Bookkeeping New Year's Resolutions

1/7/2019

Top 10 Bookkeeping New Year's Resolutions

Every year people ring in the New Year with overly ambitious personal resolutions that aim to improve their quality of life or the state of the world around them.

However, less than a month later these resolutions are largely abandoned as they resume their normal behaviors.

7 Ways to Find a Finance Mentor for Your Small Business

1/2/2019

7 Ways to Find a Finance Mentor for Your Small Business

As a business owner or entrepreneur nothing is more important than fostering a healthy mentor relationship with another experienced business professional.

Leaning on a mentor is directly correlated with higher revenue and increased growth, which makes it integral to any business strategy.

When it comes to finance mentors, however, this point is even more salient.

8 Tips for Effective Leadership During Downsizing

12/26/2018

8 Tips for Effective Leadership During Downsizing

Every year millions of employees are laid off amid downsizing efforts. In fact, in 2017 the top 12 employers to conduct layoffs reduced the workforce by more than 47,000 individuals. While some industries bear a larger proportion of the downsizing burden, no industry is exempt. Additionally, private companies are just as likely to downsize as public companies, making employee layoffs an inevitable reality in business.

20 Cash Flow Management Tips for Small Business Owners

12/17/2018

Large, small, new, well-established, public, private – nothing is more important to businesses than cash. Regardless of where a business is in its lifecycle or growth plans, cash is needed to pay employees, purchase raw materials, finance equipment needs, and market offerings. Effective cash flow management ensures that this lifeblood is working to support daily operations and long-term goals.

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