Cash flow management is one of the numerous serious problems faced by small firm attorneys and research over the years has shown that poor cash flow management by small businesses a huge culprit in terms of small business failures. You often time find many profitable small law firms going burst within few years of being […]
Tips and Strategies of Building Trust as a Small Start-up Business
Trust is one of the most important levers that start-up businesses rely on for survival. It will be phenomenally impossible for small businesses to gain the opportunity of proving what they can do if no one trust them enough. This is where this article comes in to fill the gap by giving simple and proven tips and […]
Psychology of managing a small business; the secret of entrepreneurial success
Psychology of small business management is the study of the mental functions, capabilities, and behaviours of small business owners and managers. The level of competition that has always characterised small business environment makes it rare for people lacking mental toughness to be successful when it comes to managing small businesses successfully. This post is written […]
Roles of accountants in bankruptcy and insolvency
An individual or corporate body can apply for bankruptcy or be forced into bankruptcy if certain legal criteria are met. The individual or the business entity must be in debt and unable to pay or make reasonable repayment plan. This article is not to discuss the intricacies of bankruptcy but to highlight the roles of […]
Six reasons why every Accountant should be CISA Certified
As an accountant working in the capacity of an employee or a business advisor, your employer or client expects you to give more than you are actually paid for. In fact, you are more of a business partner than an employee or a consultant. This is so because modern day businesses now battle with the […]
Happy accountant, angry accountant
Well, just like every other things we do in life, the choice is yours whether to be a happy accountant or an angry accountant. It’s entirely up to you to decide what path to follow. I have heard many people debate on this issue in the past. One of the finance guys firmly believe that […]
Successfully financing a start-up business in this modern age
If you have ever managed to start a business and get it up and running, you would have realised that it is probably easier to take up employment in one of the established companies than to start up your own business. Fund raising is by far the hardest thing that start-ups need to do, this […]
Components of a small business bookkeeping system
In this article on the components of a small business bookkeeping system, I will be giving tips on what small business owners will need to do in order to significantly reduce the fees paid to finance professionals that come in at year end to prepare the financial statements for the business. As a small business […]
How to deal with negative press release as a small business
How to deal with negative press release as a small business Negative press releases, if not well controlled can kill a business faster than you can ever imagine. These negative press releases can come from anywhere but the most common sources of negative press are your competitors, your customers and the regulatory authorities. Having a […]
2014 investment advice based on 2013 investment lessons
Sad stories about how people lost their hard earned money will continue to make head line for as long as people make investment. The reason for this is that many people throw their money away all in the name of investing. I was having a chat with a friend in a Christmas party last week […]
Customers are the cheapest means of advertising your small business
Smart small business owners have long realised that their customers are their most reliable and cheapest way of getting ahead of competition. If you don’t use your customers to attract more businesses, your competitors will use your existing customers to sink your business. Brand loyalty is not easy to be built but can be done […]
Christmas and New Year gift ideas for Accountants
If you have friends who are accountants and you are wondering what item will make perfect sense for Christmas and new-year, read on as this article highlights the views of 298 professional accountants. This article will give you some Xmas gift ideas for friend or colleague that is an accountant. The ideas here are based […]
Impacts of ERPS on the role of management accountants
Management accountants have come to realise that ERP (enterprise resource planning) systems are their friend and not foe as initially thought. An ERP is designed to integrate all facets of applications into a single system thereby making it possible for information that would other be scattered be accessible from a single point. This is to […]
Thinking beyond compliance is the best business strategy.
The best business strategy is to think beyond compliance you will agree with me that quality always save money. The aim of strategic thinking and planning is to gain sustainable completive advantage. Ok, if strategy planning is all about gaining that completive advantage, why then do many businesses simply engage in ticking off the box […]
Who bears the cost of quality?
Quality no doubt saves money but not without its own costs. Costs of quality are broadly classified into conformance cost and non-conformance cost. These are then sub- classified into prevention cost, appraisal cost, internal cost and external cost. From the perspective of managers, costs of quality should be brought down to the minimal level so […]
What are the soft skills of an accountant?
Gone are the days when accountants are known as number crunchers. In today’s modern world where finance professionals need more than just technical competence, it is dangerously important that accountants are equipped with soft skills that are in high demand. Soft skills are those rudimentary ingredients that make someone with finance expertise competent enough to […]
Business continuity planning process (BCP) for small businesses
The act of business continuity planning and implementation is not exclusively owed by large multinational corporations as many small business owners do think. Business continuity process is a life cycle process that every business must embed into the overall business strategy if they are to survive disasters when one occurs. The aim of business continuity […]
FAMILY BUSINESS STRATEGY- SUCCESS TIPS THAT GUARANTEES SUSTAINABLE GROWTH
Family businesses with articulated strategy strive better than one man businesses that have no concrete strategy. Without a good strategy, the bright business idea will not be passed down the generation and that might mean an end to the business. Most one man businesses metamorphose into family business by bringing in a trusted family member […]
Components of small business continuity plan
A business continuity plan which is a strategic stance taken by organizations to ensure that normal business activities are restored within the shortest possible time after a disaster has occurred has some components that makes it complete and usable. I have seen all sorts of documented presented by small businesses as business continuity plan. The […]
WHAT IS BUSINESS TECHNOLOGY MANAGEMENT?
Business technology management is a methodical approach of acquiring, implementing and monitoring the result of technology in business. Technology has long taken the centre stage as far business management and operations are concern. You hardly talk about any business operation in today’s world without making reference to technology. This is because technologies have long moved […]
Personal Finance: Why Only You Should Manage Your Money
As a healthy adult, do you wait for someone to spoon feed you when you are hungry? I bet your answer to the question will be no. So why then do you unduly rely on other people to take care of your personal finance? The standard reason given by many is that they lack the […]