☀️ Make August Count ☀️
August has a reputation as the slow month. Vacations, quiet inboxes, decisions pushed to September. That makes it one of the best months of the year to work on the business instead of just in it. The fall rush is coming, and the companies that use this stretch well are the ones ready for it. What's one improvement you could make while things are calm?
Hopefully one of the tactics below points you in the right direction. Pick the one that would have the biggest impact right now and commit to it. Some you can knock out before Labor Day, others will take longer and need your whole team. The point is to always have one improvement in the works.
If nothing below resonates but something else is on your mind, reach out. That's what we're here for.
In this month's edition, we have tactics from our Be More Profitable, Manage Costs Effectively, and Leverage Accounting Strategically playbooks. Our playbooks are designed to support our P-R-O-F-I-T approach to outsourced accounting.
🏆 Strategic Partner Highlight 🏆
Lauren Fisher
Founder & Strategic HR Partner | Acumen HR Solutions
Her goal is simple: help business owners and leadership teams focus on their business by providing strategic HR solutions that empower smarter decisions and stronger results.
When businesses need trusted HR expertise, Acumen HR Solutions becomes a strategic partner. Lauren and her team work closely with organizations to provide practical HR support, compliance guidance, employee training, employee relations solutions, and ongoing strategic counsel. Through a hands-on partnership model, Acumen serves as an extension of its clients' teams, providing dedicated support and regular onsite presence to ensure leaders and employees have access to reliable HR guidance when they need it most. Connect with Lauren at [email protected].
🎯 This Month’s Tactics 🎯
Test a 1% Price Increase
Pricing is your biggest profit lever. Unsure about raising rates? Test a 1% increase, track results, and review with your sales team to see if fear is holding you back.
Make Your Revenue Recurring
Subscription and recurring revenue provide predictable income, build customer loyalty, and make your business stickier, which should lead to stronger cash flow and profitability.
Match Staffing to Demand
Explore part-time or seasonal staffing instead of full-time hires when possible. Remember, 1099 contractors are not the same. Outsourcing can also be a strong alternative to part-time hires.
Buy Yourself More Float
Ask vendors to accept payment after services are completed rather than upfront. Use a credit card for expenses to extend float and strengthen cash flow.
Get W-9s Before You Pay
Collect a W-9 from new vendors before their first payment. This encourages prompt submission and prevents a last-minute scramble for tax documents in January.
That’s it for this month.
Short and sweet.⚡🎯
Just quick tips and tactics that help you build a stronger business.
Learn more about Basis 365 Accounting and our tactical playbooks developed from our P-R-O-F-I-T approach™.
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