Before you leap into your first day of business in Kirkland, ensure that you have the right legal permissions. Without the proper license, you may build up penalties that limit -- or at least put a huge dent in -- your company's profitability. While it's not an easy process (it never is), ultimately
What is Considered a Healthy EBITDA?
EBITDA (or earnings before interest, taxes, depreciation, and amortization) is a financial metric that shows the profit left after all the company’s operational and financial costs have been subtracted. It is the measure of a company’s ability to generate cash from its operations without borrowing
Effective Ways Of Dealing With Customer Churn
When running a business, an essential element for maximizing profits is your company's ability to attract new customers (while maintaining the old ones). However, all companies experience some level of customer churn, which lowers their revenue and profit margins.Customer churn is the number of
When to Quit Your 9-to-5
"An entrepreneur is someone who jumps off a cliff and builds an airplane on the way down." This adage is the startup world in a nutshell. Things move at terminal velocity and you need to think quickly. While there are people who save and meticulously plot out the next 5, 10, 15 years, arguably, most
Passive Income Ideas To Rapidly Transform A Hobby Into A Career
Passive income is the dream. It's a great feeling to know you're generating income in your sleep. For some, it's why they get into the stock market, website development and real estate. And in today's economy, there's no better time to start.There are various reasons why you might be looking for
The Ideal Small Business Budget Breakdown
A budget breakdown is one of the most crucial segments of a business plan. It is a skill that every small business owner needs to stay informed on the sales cost, reinvestment budget, and to know when you are financially ready to bring in employees into your business. Setting a budget also enhances
What is Mark to Market Accounting?
If you owns a small business, then you're most likely always pushing the limits for further profits and opportunities within your company. If that is the case, then learning this concept could very well lift your business to greater financial heights. Imagine having a method to reliably account for
Maintaining Objectivity As A CPA
CPAs and companies both want the same thing, to have accurate, detailed, and fast bookkeeping and accounting. This way, both parties maintain a "clean" slate. A clean slate in CPA terminology means a complete accounting record for every transaction and decision made. Many accounting firms strive to