🍀 Greetings 🍀
What's one thing you could do this month to make your business financially stronger? 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 this month, others may 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 Manage Costs Effectively, Be More Profitable and Collect Cash Faster playbooks. Our playbooks are designed to support our P-R-O-F-I-T approach to outsourced accounting.
Just Launched 🚀
🚀 New: Free Financial Operations Assessment.
Wondering where your biggest financial blind spots are? We built a 5-minute assessment that shows you how your operations stack up across trust, cash visibility, reporting, and more. You get instant results plus a free custom PDF report. Try it yourself or pass it along to a founder or operator you think could benefit. See how you score.
This Month’s Tactics
Outsource Non-Core Activities
Hire employees to create or deliver your core offering. Outsource everything else. If your business is not about building accounting teams, partner with outsourced accounting experts.
Discuss Payment Expectations Up Front
Clients not paying on time? Did you set payment expectations at project kickoff? It may kill the excitement to discuss upfront, but it makes the conversation easier if payment issues come up later.
Consider Modern Payroll Platforms
Still using payroll software that looks like it’s from the 1990s? Payroll does not have to be painful. Gusto offers a modern, user-friendly solution designed for small businesses.
Tie Commissions To Profit
Do you pay commissions on revenue or margin? Give your sales team visibility into profitability. Strong gross margins impact cash flow far more than top-line sales.
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™.