Ask the Accountant… Question: When I buy items from suppliers, isn’t that inventory? Answer: In our industry, we order items that have been customized specifically for one customer. We rarely take possession of the items – only so we can deliver them to the customer ourselves or our customer will pick them up. These instances…
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When it comes to goal setting, most folks who have goals (sadly many folks go through life without specific, articulated goals) choose reasonable, achievable goals. I know some will cling to the S.M.A.R.T. goal process, meaning goals should be specific, measurable, achievable, relevant and time-bound. I agree with all of these except “achievable.” When we…
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I really enjoy watching construction projects, especially massive ones. It is interesting to me that if a project is a 60 story condo, from day one the crane is taller than 60 stories, even though they haven’t even begun the foundation. The same should be true in building your business. From the beginning we entrepreneurs…
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Ask the Accountant… Question: I am switching to a SAGE system integrating with QB. Should I have the same number of users in each? Answer: Not necessarily. You will need as many users in SAGE as people in your organization who need access to research products, create presentations, access the Project Management area and write…
Read MoreIt’s time for us to hit the show floor once again. Setting all “re-entry” and social stresses aside, will we remember how to do this? What did we learn from not attending in-person trade shows? Can we apply our new knowledge and practices to make trade shows really work better for us now?…
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Most people I know take some types of vitamins. Vitamins are essential elements for our physical growth and health. There is also an essential vitamin that I take for the ongoing growth and health of my business. It is called Vitamin F. (F = Focus) I find that the No. 1 enemy for me in…
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The key to success in sales is these simple three steps: Ask great questions Find a problem or problems Propose solutions Think about it. When someone in sales is calling on you, do you want them to lead with telling you all about how great their company is? Or were you interested in talking with…
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Nick Friedman started College H.U.N.K.S Hauling Junk and grew the business to a multi-million dollar national franchise. The junk removal and local moving company now has over 100 franchises and $150 million in annual sales. As an entrepreneur and best-selling author, Friedman provides insight from his journey to success with Host Greg Muzzillo on Million Dollar Monday…
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Ask the Accountant… Question: My CPA always asks for a balance sheet, but I don’t know what that is exactly. Answer: A balance sheet is one of the two standard financial statements that describes the condition of your business. (The other is an income statement.) Your balance sheet is a snapshot of a particular day…
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Question: Do you have any suggestions for a good way to track orders? Answer: Our industry is complicated, and each order involves many steps and details. I used to track orders manually—step by step for each order. Today there are several automated solutions…
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