Congratulations! We’ve just finished February and I know that many of you are doing extremely well with your New Year’s resolutions. I see you implementing your plans to get your recordkeeping organized and to get your financial statements in order this year. I’ve been working overtime since the year started — to help many of you fulfill your commitment to running your businesses more profitably this year.
As you know, there are seven key steps to transforming your revenues into profits; and the step that people seem to struggle with is the one that will help you focus on your money, your gross receipts and your net profit. Believe me – I know how difficult it is – especially when you have clients to help, products to develop, sales to make and marketing to create.
Accounting is the one activity that doesn’t always come high on the “to-do” list. However, I encourage you to make sure that you take charge of your accounting this year. Make sure that you know:
· How your transactions flow into your reports.
· What reports you should be reading on a regular basis.
· If your reports give you all the information that you need to make wise decisions and if they are accurate.
· If you need a balance sheet for a lender or licensing agency tomorrow, would you have one at your fingertips, simply and easily.
I also realize that some of you haven’t started your New Year’s resolution yet. You haven’t started looking at your accounting for last year, much less for this year. Remember, it’s not just the annual filing of your tax return that’s important. In my opinion and contrary to the taxation agencies, THE most important reason for your accounting is so that YOU have your important reports on a regular basis. You want to be able to use the reports to run your company and to make your business decisions wisely.
Some of you have terrific gross sales; really solid revenues…and then you ignore whether your business actually makes money after paying for your expenses. You must learn to read your financial reports regularly or you may find that you don’t HAVE any profits to report to the tax agencies at the end of the year.
So…why don’t we keep our resolutions? Why do we sometimes have trouble implementing the changes needed to achieve our goals? Ideally, achieving goals is accomplished in a series of tiny bite-size steps. Many times, however, we instead try to implement changes all at once in one giant step.
But, most of us just don’t have the time to transform our accounting in one large step. So, I recommend that you try a simpler method.
For instance, try to get one new activity accomplished every week, and do it by biting off just enough so that you can make one change each week in less than an hour. If you spend just one hour per week for 52 weeks; you’ve just fine-tuned your accounting for 52 hours. In contrast, would you have actually been able to spend more than one entire week just improving your accounting system? Probably not. That’s why it’s important to start a program that helps you take the tiny steps; it helps break big chunks down into smaller pieces so that you can get things accomplished simply, easily and painlessly!
You may be wondering how you can do that, and how and where you can access the information that you need to implement these changes in one hour each week? Here’s help for you…
A special self-study course, ShoeBox-101 Basic Bookkeeping for Business Owners, which helps you learn to take charge of your accounting in a simple step-by-step process. This self-study program is created especially for you and is exactly what you’ve been needing to jump-start that New Year’s resolution!
SHOEBOX-101 is designed for entrepreneurs, business owners and managers just like you. That is, hard-working individuals who are short on time, who are not accountants by training, and who desire greater business success. If you need help accomplishing your New Year’s resolution, this course will help you understand your record keeping and give you the confidence you need to take charge of your accounting.
The self-study course includes everything that you need to set up your accounting system, enter your transactions accurately and know the basic accounting principles and terminology.
It includes a full year subscription to ShoeBox-101 e-Minders, a 52-week series that holds your hand all year long. For more information and to check at our No-Risk Guarantee, CLICK HERE.