Positive blog

A fresh approach to Financial Management and Financial Tools
Common mistakes entrepreneurs make

18 Mar: What are the common mistakes entrepreneurs make?

As a company focused on working with growth companies and entrepreneurs, we see a lot of amazing ideas.  We witness huge wins, and huge losses, and we love that we get to bear witness to the birth of great ideas and great companies.   In this respect, we’ve seen our fair share of mistakes made by well-intentioned founders.   Here’s a few common threads that we’ve noticed along the way; Founders making the wrong hire  Hey…we’re the first to believe that your referral network is the best network.  It’s true. But for critical roles within the organization sometimes the “buddy”…

Setting up your finance department

12 Mar: Setting up your new company’s finance department: Getting it right the first time.

You’ve made the leap. The incorporation paperwork has come through and what was once just an idea is now a real company. So where do you go from here? What do you need to do to get your company up and running? The Banks… One of the things you’ll realize very quickly is that you need to find a way to manage your new company’s money. You can’t just run this thing from your personal account, that won’t work. So, step one – you need a bank account. Choose your financial institution wisely, each of them will have different account…

lightbulb

07 Mar: What is BPO financial accounting?

What does that even stand for?  BPO stands for Business Process Outsourcing.  Let’s clear that up first and foremost. Whenever we spend time speaking to a prospective client, this is the first thing we have to address. What do those 3 letters stand for? Now that we’ve cleared that up, let’s talk about why a company might considering looking to use a BPO partner specifically for ERP implementation. Expansion to other markets Multiple currency accounting A need to make better business decisions based on company financials and a lack of a view into them with existing bookkeeping solution A company’s…

Is Quickbooks the right accounting tool for your business?

22 Feb: Is Quickbooks the best small business accounting software?

It depends.. So here you are, Small Business Owner. Off on your own, chasing the dream of running a successful enterprise. You’ve thought of everything: you have a product, you have a plan to get that product to people who want it, and you’ve even found your first customers. Just one question – how are your customers going to pay you? Inevitably, you start scouring the internet, Google-ing your way through “Best accounting software” and “accounting?” and you’ve come to realize that there are a lot of accounting systems on the market. But you remember that commercial, the one from…

Demystifying Financial Statements

20 Feb: Demystifying Financial Statements.

You’ve made the leap. Taken your life into your own hands and started your own business. You’re passionate about it. You’ve got a couple of employees who are putting out some really astounding efforts, and it’s time to look toward the future. That’s when it hits you… the horror stories you’ve seen and heard about companies plateauing or failing.  Perhaps because the operator, like the mythical Icarus, got too close to the sun and missed some minute financial detail that started them on the path to failure. But that’s not you, you’ve got a handle on this … right? But…

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