Ask the Accountant… Question: What is equity in my business and how is that different from assets? Answer: In accounting, equity is assets minus liabilities. Equity is the portion of your business that is yours after debts or liabilities are considered. As an example, if you purchased a house for $300,000 and took a mortgage…
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In the printing industry, there are plenty of opportunities for professionals and students to come together. These events offer a chance for students to learn real-world insights and gain valuable connections, while professionals can receive fresh perspectives and new ideas from the next generation. Staying ahead of industry trends and maintaining a fresh perspective are…
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Game, what game? This is serious stuff and not some kid’s game. You’re right, it is serious. Your employees, customers, suppliers, and shareholders are all counting on you and your team to get it right. Being a student of the game is crucial for business leaders, as it fosters continuous learning, adaptability, and strategic thinking.…
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Several years ago, when I wanted to build a new home, I needed ideas for what I wanted it to look like. So, I drove around nice neighborhoods and took pictures of attractive homes. I came upon an awesome home and decided to ask the owner if I could take some pictures. The owner answered…
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It’s not uncommon for business leaders to stress the importance of “customer focus” through all areas of their enterprise. On the surface, not a bad idea. However, upon closer look, this approach may be keeping your business from realizing its full potential. Here’s why. We’ve all heard of the Pareto Principle, sometimes referred to as…
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When comparing “same-store sales” and “new customers,” you’re essentially looking at two different metrics used to assess the performance and growth of a business. Most Graphic Communication companies are not looking at their business in this manner. I think they should begin breaking out these numbers and let me go into detail as to why…
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When it’s football season, one saying you often hear is, “Offense wins games. Defense wins championships.” That is also true in sales. Offense — or outbound selling — gets new accounts, but defense keeps them producing revenue year after year. What does playing a strong “defense” mean for a sales pro? It comes down to…
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Targeted email automation can be great I use it a lot: I can send a targeted response to someone. If they click on a link in a previous email and I can send them more information or an offer to encourage them to take action. If they don’t, I can send them a reminder. But…
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Ask the Accountant… Question: Can I use the QuickBooks Online Plus Chart of Accounts that is included in the program? Answer: Yes, but it is a poor format for our industry. QuickBooks is a wonderful product and is the No. 1 accounting software for a small-to-medium-sized businesses. It is used by a wide range of…
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It’s hard to believe, but we’re in the second half of 2024. Many of us do end-of-year reviews of our business goals and accomplishments, but how many of us stop to do those things mid-year? As basic as this sounds, most people don’t. But those who achieve their goals often do. Highly goal-oriented people tend…
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