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Naked Look at the Budgeting Mistake I’m Embarrassed To Share

By | Accounting 101, Bookkeeping 101, Business 101, CEO Mindset, Outsourcing, Team Building | No Comments

There are some lessons you learn that you can’t wait to share with anyone that will listen. Then there are lessons that open up your possibilities and are slightly, well embarrassing. Embarrassing for yourself mostly because it was right there and you didn’t see it – even if it is part of your education and knowledge background. Sometimes those lessons hurt. This is one of those lessons. Problem Identified: My Plan didn’t support both me AND a larger team. When creating a budget for start-up or a plan for growth, it is important to have a clear understanding of the…

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Profit First: Successful Steps After Implementation

By | CEO Mindset, Profit First | No Comments

Last month I shared the “Beginner’s Guide to the Profit First System” that had five basic steps for implementation. This month I am going to explore what happens in between step 3 (setting your TAPs) and step 4 (Quarterly Distributions). This step requires a basic understanding of the ones that come before – here is a link to the first post in case you need to brush up. Quick Review At this point you have already: Set-up and adjusted your five minimum bank accounts; Reviewed your historical info and looked ahead to create your targets; Chose starting Target Allocation Percentages (TAPs). The next…

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A Naked Look Behind the Scenes at the Power of Words

By | Business 101, CEO Mindset | No Comments

Today’s post is a little story on the power of words and the lesson I learned when I chose to change the vocabulary that I used in my business for myself and my customers. Perhaps you’ve had an experience working with your bookkeeper or tax professional and the words they use to describe financial activities for your business just didn’t work for you, or maybe even triggered you in a negative way. That’s what we’re exploring today. There is a small population of people in the world that actually enjoy numbers, many of them are in the financial industry –…

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5 Useful Ways to Avoid Drowning in the Bookkeeping

By | Accounting 101, Bookkeeping 101, Business 101, CEO Mindset, Outsourcing, Recordkeeping 101 | No Comments

This episode of Ask Connie is a question that comes up often when I talk to business owners: I need advice on implementing my bookkeeping and recordkeeping. How do I manage to really sit down and update records; close out the month; really make my accounting tool work for me; etc. I need ideas on how to make this process smoother, less painful, and get it done without tearing my hair out. This is probably the most common question, because the acts of bookkeeping – data entry and record keeping – are not super fun for most of us. The truth…

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Profit First!

Successful Beginners Guide for the Profit First System

By | Bookkeeping 101, Cash Flow, Profit First | No Comments

So by now, if you’re reading with us regularly, you have heard of the book Profit First by Mike Michalowicz. Maybe you even cracked the spine and gave it a quick read. If you resonated with it, but found your Negative Nelly mindset kick in, you may not have taken any forward movement on implementing the new system. Today I am going to share the five basic steps of Profit First. This is the same basic info I presented in my very first webinar, in fact, it is the same exact system I used more than a year ago. Look: just…

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It’s True: Airline Safety Can Strengthen Your Business

By | Business 101, Cash Flow, CEO Mindset, Profit First | No Comments

On my flight to LA last week, there was a funny safety presentation; this was some spark in what is usually a rather dreary monologue, so I listened intently. As I looked around, I was one of a handful of those paying attention. Which is too bad, because those that didn’t got called out by that comedic flight attention, with a simple – “for those not listening, good luck.” Which gave me a creative pause, if the plane is falling out of the sky and oxygen is lost, will you put on your mask first? Or panic and scream since…

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Informative Behind the Scenes Look at Getting Tax Ready

By | Accounting 101, Bookkeeping 101, Recordkeeping 101, Taxes | No Comments

Prospective clients quickly figure out that what makes the ADI Team different stems from my experience working in public accounting as a staff accountant specializing in business and individual tax returns. During my seven years working in public accounting, I had the opportunity to work with three different firms with three different prep requirements. However, all of them had a similar need and purpose around why tax work papers were created. So in this first installment of “Ask Connie” I am going to share what tax ready work papers are, and why you should require your bookkeeper to provide them…

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How to Escape Your Financial Black Hole in 5 Simple Steps

By | Accounting 101, Bookkeeping 101, Cash Flow, Profit First | No Comments

A short time ago in a galaxy that, thankfully, is now far, far away, my business was losing money faster than I could chase it. I thought what I was experiencing had to do with a lack of skill or knowledge. It felt like my checking account was a black hole: it sucked money into the nothingness as fast as I received it. I really thought I was the only one stuck, circling said nothingness, with no event horizon to be found. I have worked or talked with 100+ business owners over the last 15 years and witnessed similar activity, but I had never asked…

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All the Boring, Timely, and Informative Payroll Items you Need

By | Accounting 101, Bookkeeping 101, Recordkeeping 101 | No Comments

This was the hardest, most uninspired blog post I have written all year. And while this isn’t the most exciting or joyful post, I do know it will impact every business owner with employees, and especially those in Oregon. As 2016 comes knocking on our doors, so do a few payroll related items employers need to be aware of and more importantly, take action on. ADI Team PSA – 2016 Payroll Recommendations This year there are quite a few changes for employers that more action and review is needed. In fact ADI Accounting Team is making a few recommendations: If…

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Establish Realistic Targets to Unlock Your Best New Year

By | Accounting 101, Bookkeeping 101, Business 101, Cash Flow, CEO Mindset | No Comments

As the year comes to a close, this is a perfect time for reflection and planning. Early on in my business ownership, I found the act of planning a little like throwing darts against the wall. I was aiming at numbers somewhere between what I thought my potential clients could afford and what I thought my competition was charging. I even remember setting my revenue goals based on what others were going after, the magical $10k per month and the elusive six figures. At no time during my early days did I actually look at that revenue goal with the…

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