As a small business owner, the most important thing you need to know about Money Management is: "You have to manage it!" We all know money doesn't manage itself. And it's not as simple as buy low, sell high and you'll do alright. You have to understand how to organize your money: where and how to get it, where and how to spend it, where to put it, and of course, where it actually is right now (and whether or not you really have any, or all of it, on hand). Financial advice is
As the great Leroy "Satchel" Paige once said, "Age is a question of mind of matter. If you don't mind, it doesn't matter." While that's a wonderful sentiment, it's a lousy retirement plan. Even though Individual Retirement Accounts aren't nearly as snazzy as Satchel was, they can be a valuable piece of any retirement plan. The best way to fund your future through an IRA is to make regular contributions throughout the year. Let's face it though, as a small business owner or en
This week Pocket Marty will be focusing on cash flow: what it is, why it's important and what it can do for you. While we all know that Cash is King, for a small business understanding your cash flow is key. Cash is your lifeblood. It's how you pay the rent, keep the lights on and buy the things you need to make what you're selling. Without cash you're dead in the water. Just as important as the cash itself is where its coming from and where it's going. The three activities t
What does every small business owner we talk to say they dislike the most? Spending time on anything that's not directly related to growing or improving their business. Most small business owners recognize the importance of those necessary ancillary tasks. If you don't support the primary activities of your business, you can't stay in business. How can you keep selling your product or service if you can't process a payment or send out a bill, right? We all just want to spend
Now that your books for last year are winding down it's a good time to take a look at your core financial statements. Financial statements can give great insights into how you did last year and where you're heading in 2016. They are also helpful in identifying key risks and opportunities for your business. BALANCE SHEET This Statement of Financial Position allows you to assess the financial health of your company as well as identify risk in areas of liquidity, financing, cred
Pocket Marty was born during a conversation with clients and friends talking about how they wanted to have a mini version of Marty on call 24/7 to answer questions or give an opinion...and not always about accounting.