All Business Owners Need a Qualified Advisor

At some point, every business owner needs a kick in the pants, a trusted confidant or a shoulder to lean on—especially when the ups and downs of entrepreneurship seem insurmountable. The ability to find and maintain focus while adapting to change is no easy task, and here are a few instances in which you may want to seek some unbiased, third-party help… 

Jennifer Morrow
The Top 5 Small Business Accounting Mistakes

Most small business owners have little or no accounting experience. They certainly don’t start their business for the sole purpose of accounting, and so it is really no surprise that the majority of small business owners rate accounting and taxes as the part they like least about their own business.  

Jennifer Morrow
Learn More by Reading Less

I hear about and stumble across interesting books all the time. When I do, I add them to an ever-growing list. 

This ever-growing list has become a point of frustration. Some highly recommended books weren’t living up to expectation, and other books sometimes seemed like a waste of time. I figured there had to be a more productive way to learn what these books had to teach.

Jennifer Morrow
10 Steps to Build a Financially Strong Business

The success of your business is strongly tied to financial stability. As your company grows, cash flow will become a make or break issue. This is particularly true for product design companies who encounter unique expenses. 

We recommend a phased-approach to building financial strength, and the following step-by-step guide may help your business to alleviate or avoid the most common cash flow problems…

Jennifer Morrow
Better Business Planning Starts with a Profit Goal

Every business should serve a purpose that is greater than simply making money, but profit ultimately makes purpose possible.

Profit is also the most accurate measure of business success, and it is an especially important metric for product design companies. Revenue is often a more exciting conversation piece, but it can certainly be deceiving. Business decision-making (when to launch a new product, when to invest in new equipment, etc.) that is based upon revenue can sometimes be downright dangerous. Consider the following…

Jennifer Morrow
10 Rules for Growing Your Business

1. Develop a Strategic Plan

Many business owners measure their success by how hard they are working and whether there is enough money to cover payroll. In reality, “working hard” is not an accurate indicator or prediction of business growth. Businesses operate best with a strategic plan and a methodology for measuring and executing that plan.

Jennifer Morrow
Growth by Subtraction

“If a business is not growing, it’s dying.”

Is that a true statement? Plenty of really smart people think so, and it makes sense… A growing business should translate into growing profits, right? Sometimes it does. Sometimes it doesn’t. Believe it or not, many businesses can grow by doing less.

Jennifer Morrow
10 Reasons Why Businesses Fail

1. Inadequate Financial Records

Are you keeping a close eye on your cash flow? You need to have a clear understanding of what you have on hand, how much is owed and how much will be collected. Ensure that your records are current and detailed. You cannot determine the health of your business by sales alone. 

Jennifer Morrow
7 Ways to Guarantee Business Success

What’s the recipe for business success? It’s really more of a process than a recipe; one that is cyclical in nature. The following strategies will help to guide you through that process…

1. Define Your Business Purpose

Why do you want to own your own business?  Why is that so important?  Why does this business idea make sense to you? Why, why, why? There are no lies after 5 why's! Like a 3 year old wanting to understand, asking yourself WHY will help you to uncover the value you offer to customers and the true goals of your business.

Jennifer Morrow
QuickBooks Online vs. Xero: Which Is Better?

Most ecommerce merchants are familiar with QuickBooks and QuickBooks Online. Xero, a hosted accounting platform for small businesses, is less known. As a CPA for small-to-midsized ecommerce companies, I prefer Xero, for the reasons set forth in this article.

Jennifer Morrow