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Bookkeeping Tips For Entrepreneurs

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StrategyDriven Managing Your Finances Article |Bookkeeping Tips|Bookkeeping Tips For EntrepreneursBadly managed and improperly handled finances can cause a lot of serious issues for any business, from poor cash flow to legal action from tax mistakes. These problems can put a new business at serious risk. Good bookkeeping and accounting habits can help an entrepreneur to do well. Learn these important habits to help your business to succeed.

Get Professional Help To Prepare Tax Returns

Business owners have a lot of different tasks to juggle and a lot to do. This is why it’s a good idea to outsource any work that you don’t have the skills or time to do by yourself. If you’re like a lot of entrepreneurs, you’re probably not a trained accountant and don’t have the time to become a certified bookkeeper.

Outsourcing the job or using virtual bookkeeping services gives the task to somebody who can do it faster and more accurately, which is a better plan than struggling with it alone.

A professional accountant can do a lot more for you than just sort out your tax return. Someone with a skilled financial eye can see ways to improve your accounting processes too.

Don’t Go Entirely Hands Off

Outsourcing your bookkeeping doesn’t mean you should hand it over completely to someone else. You still need to look at your reports, understand what’s happening with your finances, and ask questions when you don’t understand anything.

No matter your own level of bookkeeping knowledge, it’s a good idea to have some understanding of basic numbers yourself, such as your profit, trend in expenses, accounts receivable, profit per customer, and how your client funnel works.

Get The Right Software

You shouldn’t choose an accounting program just because it’s the cheapest option. There’s a lot of choice for software available, so businesses don’t have to use accounting software that is only designed for accountants.

There are plenty of choices available, so look for software that will meet the needs of your business. If you’re not a trained accountant, then don’t choose a system that will need a huge manual to get you started.

Document Your Processes

It can help to write documents that explain how your bookkeeping processes should be managed. By documenting all these processes you can prevent any confusion and answer any questions that people might have.

Consistency is essential for good bookkeeping and can help you to spot issues as you will have a better notion of what might have gone wrong.

Keep Expense Receipts

You can’t keep track of how much your business is spending if you don’t keep your receipts organized. This is easy to do for credit card purchases, as you will have your receipts and your monthly statements to check the receipts against.

Cash expenses can be more difficult to track. The receipts from cash purchases are important as there are no backup statements to double-check. Try keeping a small notebook to log cash expenses. You could do this in an accounting app in your phone, and take pictures of the receipts as you go.

How to Successfully Open Your First Restaurant

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StrategyDriven Starting Your Business Article |Open a Restaurant|How to Successfully Open Your First RestaurantMany aspiring entrepreneurs are excited by the idea of opening a restaurant. People love to dine out, especially now after not having been able to for so long, and the demand for a good restaurant will always be there, so it’s a business idea that should work well. However, just looking around and researching other restaurants shows that it’s not always successful, which you will clearly want to avoid.

To do well and to keep running well into the future, there are some important factors to bear in mind. If you plan ahead and consider all the different aspects of running a business and specifically running a restaurant, there is every chance you can do well. Read on to find out what you need to think about right from the start.

Choose A Restaurant Concept And Brand

If you know you want to open a restaurant, you probably already know what concept you want that restaurant to be, and you might even have an idea of your brand too. Before you can start doing anything, from finding a location to advertising to hiring staff, you need to have these things set in stone. If you’re still unsure about the kind of restaurant you want to open, or you’re wavering when it comes to your brand and the idea behind it all, you won’t be able to convince your patrons that they should come to you. In other words, if you’re confused, they will be too, and rather than trying something they don’t have much information about, they will go back to the familiar restaurants they already understand.

Plus, without a brand and concept, it’s going to be impossible to fit out your restaurant, and you might find you are delayed or that you buy furniture that won’t work with your final idea, and you might have to spend additional money to get it right. This is why it’s crucial to have your brand and concept completed agreed upon before you can do anything else.

Licenses And Permits

There are a number of different licenses and permits you’ll need to safely and legally run a restaurant. Depending on where you are opening your restaurant, there will be local laws to follow, so ensure you research what you will need.

No matter where you are, something you will certainly need is insurance. The best way to obtain this is to speak to a commercial insurance broker Montreal. You can discuss exactly what you need to be covered by the insurance, and they will help you find the ideal cover.

Choose A Location

Once you know what you’re going to do and how you intend to do it, you’ll need to find a business premises in the right location. Unlike many businesses, you cannot ‘work from home’ and a premises is crucial when you run a restaurant. You’ll need to think about:

  • Footfall – will people pass by your restaurant?
  • Parking – having a great restaurant is excellent, but if no one can park, they won’t find it easy to come to you, and they’ll go elsewhere
  • Size – how much room do you need in the restaurant and in the kitchen?
  • Competition – what else is around the area you’re thinking of opening your restaurant in? Can you compete?
  • Budget – how much can you afford to spend on rent?

Looking for a premises can be fun, and it’s easy to get carried away and fall in love with somewhere without thinking things through. Always ensure you get a second opinion and you’re thinking of the business at all times.

Scale The SEO Mountain and Get On The First Page Of Google

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StrategyDriven Online Marketing and Website Development Article |SEO|Scale The SEO Mountain and Get On The First Page Of GoogleDid you know that ¾’s of all users never even bother to look at the results beyond the first page? It’s true, and it also means that one of the most important things you can do to generate traffic, secure leads, and establish your business as a stalwart in your field is to ensure you are on that first page of search engine results. The good news is some strategies can help you scale this SEO mountain, read on to find out what they are.

Find and use relevant keywords

Optimizing your site, as well as your blogs for keywords is an essential aspect of good SEO. However, to be able to do this effectively you will need to know the words and phrases potential customers are using to search for your business.

This means you will need to perform a keyword analysis before you get started, as this can be used to guide your entire optimization process. Remember to include long-tail keywords as well as single words and short phrases too, as they are also highly regarded by search engine algorithms.

Blog your heart out

Search engines love blogs, indeed their algorithms are designed to prioritize organic content above all else. That is content that is genuine and written with a purpose and value in mind, rather than just as a vehicle for keyword stuffing ( the latter being something that search engines actually penalize!).

Of course, for your blogs to be as successful as possible they will need to be a few things. The first of these is longer form, so opt for 1000-1500 words instead of 250 where possible. Next, be sure that they offer genuine value to your readership and/or target demographic.

After all, the more clock through you get, the better your SERPS position will be. Not to mention all the kudos you will be accumulating with potential customers. Additionally, there is even another benefit of creating quality valued content, and that it makes the likelihood that it will get shared even higher. This then enhances your chances of getting backlinks, which are hugely valuable in SEO because search engines treat them in a similar way to references. That is the more you have from a reputable site, the higher your SEO position will be.

Also, remember that both SEO and content writing are specialist disciplines within themselves. This means you may be able to create a more effective campaign by working with Seoshark and other specialist SEO agencies like them. After all, it is their business to understand all the minutiae of SEO from the ever-changing algorithms to the timescales involved until you can expect to see real results.

Optimize for mobile

Finally, if you want to see your company on the first page of Google, then you must ensure your site is optimized for mobile. This means that it will automatically display the best version whether the viewer is using a PC or a mobile device like a smartphone or tablet.

Indeed, not only is this an important aspect of providing your customers with the best experience, but it is also another factor that is held in high regard by search engine algorithms. Therefore by optimizing in this way you provide the best chance of scaling the SEO mountain and being featured front and center on the first page!

What Is The Best Way To Research A Potential Business Partner?

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StrategyDriven Entrepreneurship Article |Business Partner|What Is The Best Way To Research A Potential Business Partner?There are a lot of great benefits to business partnerships. You can find somebody else to take on some of the risks and having a fresh set of ideas can help you take things to the next level. Your business partner can also fill in gaps in your own skill set and help you manage the workload, so the business is more successful.

However, partnerships only work when you choose the right person and if you get into business with somebody that isn’t a good fit, it can be disastrous. That’s why you should always do your research before entering into any partnership, but a lot of people don’t know how to do that. These are the best ways to research a potential business partner to see if they are a good fit.

Check Their Social Media

Social media is always a good place to start when you are trying to get a measure of somebody. Their posts give a good insight into what their priorities in life are and what kind of person they are. You can also see what their network looks like and what business events they attend etc, so you can decide if you are on the same page. You need to find a like-minded business partner that you work well with, so general information that you find on social media can be very useful when making your decision.

Run A Background Check

You need to know if your new partner has any skeletons in their closet because, as soon as you enter into a partnership with them, their actions reflect directly on you and your business. So, call in a private investigator company and get them to look into the person for you. They can help you do your due diligence and find out all about their past in the business world, as well as their history, in general. Anything concerning will be raised now and you can decide whether it’s a deal-breaker or not. You don’t want any nasty surprises further down the road, so this is an important step.

During the background check, you should also conduct a credit check on them to see how financially responsible they are. If you are trusting them with your business interests, you need to know that they can handle their money well.

Have A Conversation With Them

Once you have done your due diligence and you think that you want to enter into a partnership with somebody, you need to sit down and have a conversation with them. Ask about how they will handle conflict in the business and how they like to work day-to-day. It’s important that you get a good sense of how compatible you are and how you will overcome problems in the partnership.

There’s no reason why you can’t have a few discussions and even present a few example scenarios to them to see how they would deal with them. You can’t afford to make mistakes here, so don’t rush into anything.

As long as you take your time and do your research, you can find the perfect business partner to work with.

Essential Security Systems That Protect The Business & Employees

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StrategyDriven Risk Management Article |Security Systems|Essential Security Systems That Protect The Business & EmployeesBuilding a business is a challenging job; it needs a lot of investment and not only in the process but also for infrastructure. Thus, maintaining a security system for your business is a must. This will save you from any theft or loss of business or valuable stuff.

Yes! We know that you have already invested a lot in the business setup and completing other formalities to run it. But what’s the use of investing in every step of a company’s development and growth when you can’t protect it, right? So save yourself from any regret and invest a bit in the security system because it will pay you off the investment you have made on it. Here we are sharing types of security system you need in your business:

Closed-Circuit Television

Video surveillance systems are the device that offers the ability to monitor your business from inside and outside. CCTV is not only beneficial to monitor the office but also allows you to check the operation. You can easily track staff, customers and what all is happening on the premises. Cameras even help in finding out the would-be criminal activity and even helps in prosecuting criminals. They become the best evidence when there is mishappening in your business or any theft or misconduct.

The system that detects the Fire

Yes! We are talking about fire alarms here. For any business, detecting smoke and alerts that can create a problem and mishap is very necessary, thus investing in automated fire alarms and suppression systems can prevent you from losing business. In this, you need to make sure that you get it from a reputable company that can help meet the company’s requirements and satisfy all the needed state and federal fire code standards.

Panic Button

This device is safely featured and is in high demand for many companies. Silent panic buttons for businesses are designed to create a safer place for employees. Therefore, the device for businesses has become mandatory in various organizations. It reduces the time between the start of an incident and when responders are on the scene. The key aim of this device is to notify the responders swiftly.

Access Control Systems

Welcome to the new era where you can have the access control system as the security system. This system controls the entry and exit to the office, as every person that is a member of the office will have access, and any non-invited person will not be able to get inside the office. Now this one offers massive security to the employees and other members of the office.

Wireless Sensors

This device collects sensory information and detects any sort of change in the local environment. It helps in protecting the employees and office from gases like carbon monoxide or related toxic gases. Remember, you are protecting the ones who are helping you in the growth process of your business.

Final Words

Protecting employees and businesses should be the priority of any company. As they plan to invest in the infrastructure, legal matters of the business, and employees’ hiring process, they should even invest in security systems. This will protect the employees and the entire business from any mishap.