Monday, February 16, 2015

How well do you know your business?



Your employees may be able to tell you a lot about your business you may not know. What do customers really think about your product or service? Are there more complaints (or less) than usual? What could be done to improve sales, marketing and customer service?

It seems simple enough just to ask the people who work for you, “What’s going on and how can we improve?” and expect an honest answer. But, due to the nature of the boss-employee relationship, things don’t always work that way.

Employees rely upon you for their livelihood, so they are less likely to speak truthfully.  Non-candid feedback is meaningless, and will not help you run your company more effectively.
So how do you get people to open up? Here are four tips to nudge them toward sharing creative suggestions for growing the business:

1. Share the big picture. 

If employees don’t understand the financial state of your business — and what you’ve 
got planned for the future — it’s difficult for them to offer useful feedback. Take every 
opportunity to share information about the business, both successes and setbacks, so 
they have a better sense of how their knowledge and creativity might help spur growth.

2. Actively encourage participation. 

There are plenty of ways to encourage employees to share their ideas for improving the company: 

 • Have an “open door policy” (at least during part of the work week).
 • Hold occasional brainstorming sessions outside of the workplace.
 • Put up a suggestion box.
 • Create a “shopping list” of topics you’d like to see addressed and invite employees to offer comments and suggestions.

Encourage employee participation by communicating the benefits of their ideas to your organization, your customers, as well as employees themselves. Make it clear there’s no such thing as a bad idea. Employees (like just about everyone else) are generally risk-averse. An idea could mean they will have to explain it, give a presentation, or risk difficult questions on unfamiliar topics.

Some employee ideas may be game-changers. Some will result in only marginal improvement. Others will simply fall flat. You must make it clear that, regardless of the outcome, there’s no penalty for sincerely offered ideas that fail to move the needle.

3. Reward your employees’ creativity. 

Whether an idea results in explosive growth or simply helps overcome a minor operational 
hurdle, people are more forthcoming when some type of reward is involved. Always start
with a publicly delivered “thank you” to everyone who offers suggestions. Other low-cost
rewards might include an extra day off, special notice at a staff meeting, a coffee shop or
movie gift card, a free car wash, or a company-hosted lunch at a local restaurant.

The trick to giving your people rewards that make a real difference is to personalize them.

4. Get to know your team. 

Encouraging open communication and rewarding ideas for improvement to your business cannot be a one-size-fits-all type of reward.  Take a few minutes each week to connect with your employees.  Personal interaction and knowing what motivates your employees will make your rewards effective.  


Hopefully you stay in tune with your business and employees as much as possible.  urBook$ strives to communicate pro-actively when it comes to your bookkeeping. bill pay and payroll services.  Contact urBook$ today to become a client and experience the urBook$ difference

Monday, February 2, 2015

urBook$ offers SmartVault for Secure Information Sharing



Many business owners and managers prefer to keep their files and accounts up to date on a daily basis. Bookkeepers and businesses have struggles in the past finding a secure way to continuously share and update information related to their business.  E-mail is a great form of communication but unfortunately it is not very secure.  Who wants the personal financial information of their business accessible to anyone with access to e-mail?

With SmartVault urBook$ client's can access their data anytime of day or night and know it is up to date and secure.

SmartVault offers the ability for clients to:

1. Access files at any time and from any device.  Enjoy the ability to access your data without having to be in front of a computer.  SmartVault is mobile friendly and can easily be utilized from any device you are using.

2 Securely share files with clients, employees and partners at your discretion.  You can customize your vault to have select groups that can access certain files without having to share your entire vault of sensitive information.

3. You can attach and view files utilizing apps such as Quickbooks from any device.  SmartVault allows you to have the ability to update your information or attach new data directly from software to your vault.

These 3 key features of SmartVault allows urBook$ to maintain accurate and up to date data for your business, and allows you access to your data any time and any place.  This feature can allow urBook$ to serve it's clients anywhere in the world.  No more trips to your bookkeepers office - it can all be done securely online with urBook$.  Contact urBook$ today and get started as a urBook$ client.  You will find our secure vault and data sharing allows you to easily pass off the day to day bookkeeping, bill paying and payroll tasks - saving you time to focus on what you do best...YOUR BUSINESS!


Monday, January 19, 2015

3 Tips to Grow Your Business



Have you ever heard of a business that is NOT interested with increasing their revenue?  Any business can benefit from increasing their bottom line and decreasing costs.  At urBook$ we are constantly researching ideas for ways to improve our clients revenue while decreasing operating costs.

Below are a few different tips that have proven to be beneficial to a majority of our clients.

1. Never be afraid to ask for help.  Often times business owners carry the weight of decision making entirely on their shoulders.  It's not that you should give up the decision making; however, you should gather insight and advice from any and every expert you can.  Humility will get you far in life....pride will only hold you back. Maybe your strong quality as a business owner is not in logistics of the business but marketing your product.  Seek advice from someone who has their strength in logistics and always be willing to give sought advice in your strong suits.

2. ALWAYS carefully plan any changes, expansion and/or anticipated growth to your business.  Strategic planning can play a vital role in the success of launching a new product, changing locations or adding a location to your business to name a few.  However, overthinking and planning can also debilitate your ability to successfully achieve these tasks.  Finding the balance between a properly planned goal and implementing the goal can be a very difficult task.  Try to find the balance and don't over analyze the steps.

3. Implementation is key.  Once you have sought expert advice, weighed pros and cons, and strategically planned out your next business move....now you must implement.  Ideas are not expensive, implementing these ideas incorrectly can come with an extremely high price tag.  Try to always keep cost in mind when going forward with your timeline of business strategy, and GO FOR IT.  Don't let fear keep you from acting on your intuition.

If your business is not benefiting from sound bookkeeping, bill paying, and payroll services look to urBook$ to solve your small business needs.  We specialize in taking the burden of these tasks off your plate and allowing you to focus on your forte - your business! Contact urBook$ today to schedule your initial complimentary consultation and get on your way to achieving your business goals for 2015!

Sunday, January 4, 2015

Setting Goals for Your Business in 2015

The dreaded New Year's Resolutions....

We have all done the usual broad personal resolutions: lose weight, save more, spend less... Have you ever analyzed how many of your personal resolutions have been successful?  According to Forbes, only 8& of people actually achieve their New Year's Resolutions! Why? Because there is no method of setting an achievable, measurable goal.

For example, if you set to resolve "to lose weight."  This term is broad.  However, if you set to lose 10 pounds in 6 months by going to the gym Mon/Wed/Fri for 60 minutes, eating out only 5 times per month, making frequent grocery store trips to ensure fresh fruits and veggies for healthy eating; Now you have an achievable measurable goal.

This same principal can be applies to your business.  Although it takes more time on the front end to strategically plan out your goals, in the long run you will increase your success rate of accomplishing your goals 10 fold.



If you have trouble goal setting as many people do, try setting your goals using the SMART method.

Specific
Measurable
Attainable
Relevant
Time-bound

Taking our same goal of "weight loss" from above you can quickly see how breaking this down in to:

Specific: lose 10 lbs in 6 months
Measurable: 10 lbs in 6 month
Attainable: Work-out 3 x per week; eat better
Relevant: Eating out 5 times per month; frequent grocery store trips
Time-bound: 6 months

This takes a simple task with no limits of "weight loss" to very specific goals and limits.

Try starting 2015 off with setting SMART goals for your small business.  urBook$ can assist with your small business bill pay, account ledger, payroll and bookkeeping.  Taking these tasks and achieving your SMART goals for 2015!

Call urBook$ today to start your journey as a urBook$ client and experience the urBook$ difference today!

Monday, December 1, 2014

Top 10 Bookkeeping Mistakes Made by Small Businesses




Statistics from the U.S. Small Business Administration reveal that about half of all new small businesses launched in the U.S. will fail within the first five years. What is the chief cause of small business failure? Poor financial management.

Sound financial management starts with an understanding of some basic rules of business bookkeeping, so here are 10 of the most common accounting and bookkeeping errors made by small businesses -- and how you can avoid making them.

1. Using the Wrong Accounting Method
3. Misclassifying Workers
4. Not Performing Basic Account Reconciliation
5. Being Too Nonchalant About Petty Cash
6. Not Knowing the Difference Between Profits and Cash Flow
7. Using the DIY Method of Bookkeeping
8. Not Saving Receipts for Small Purchases
9. Not Implementing Adequate Internal Controls
10. Relying Too Heavily on a Paperless Work Environment

The money spent to hire a trained bookkeeper or accountant, even on a part-time or contract basis, will usually come back to the owner many times over given the time savings and all the mistakes that will be avoided. urBook$ can take on these tasks to avoid these costly mistakes made by many businesses.  Our bookkeeping, bill pay and payroll services can allow you to focus on what you know best - YOUR BUSINESS! Call urBook$ today 469.304.0036 and get on your way to relief of those financial tasks that have been weighing you down. 


Monday, November 17, 2014

Why you can't afford to delay hiring a bookkeeper!



Entrepreneurs thrive on a DIY mentality: Do everything you can yourself and don't pay for anything new until you have absolutely have to. It's especially difficult to hire financial help like a bookkeeper.
With user-friendly software such as QuickBooks available, many business owners feel they should be able to do keep their records on their own, even as they wrestle with finding the time and wonder if they're doing things correctly.
Deciding about "hiring a bookkeeper is something I struggle with all the time," is a quote stated by over 70% of business owners nationwide according to National Association of Certified Bookkeepers. While basic accounting easy to do, it takes focus away from working on the business. It is also a fact that bookkeeping and accounting become more complex and difficult as your business progresses year after year. 
Entrepreneurs who hire bookkeeping and accounting help usually discover they weren't doing nearly as well on their own as they thought they were.
Professional bookkeeping will clean up records that incorrectly mingle expenses and assets, review employee purchases for duplications, and take over the mundane but critical task of paying bills. Estimates vary however, studies have found companies save $500 to $1,000 in various fees etc. every quarter. So what are a small-business owner's options for professional help with financial tasks? 

Do I Need a Bookkeeper or an Accountant?
Actually it's a trick question. You may need both.
An accountant can analyze the big picture of your financial situation and offer strategic advice. He or she produces key financial documents, such as a profit-and-loss statement, if needed, and files a company's taxes.
After tax season is over, an accountant can also act as an outsourced chief financial officer, advising an entrepreneur on financial strategies, such as whether to secure a line of credit against receivables when introducing new products.
In contrast, a bookkeeper does the day-to-day hands-on tasks: making sure new employees file all the right paperwork for the company's payroll, submitting invoices (promptly) and following up on them, and paying the bills. The bookkeeper also tracks company expenses and can assure that every cost has been entered -- and recorded correctly -- into software like QuickBooks so that the business is ready for tax time along with filing any other reporting to, say, creditors or investors.

If you don't have a bookkeeper, you're probably not being as strategic as you could be in how you spend your money.

urBook$ can take on the role of your bookkeeper and free up your time to focus on your passion, THE BUSINESS YOU CREATED! Call urBook$ today 469.304.0036 to begin your journey of experiencing the urBook$ difference today! 

Thursday, November 6, 2014

urBook$ End of Year Business Planning



The end of the calendar year means a lot of things for small businesses. It's time to start thinking about what you want to achieve next year and work on your formal goal setting process. Your are probably in the midst of holiday shopping for your employees, vendors, clients and colleagues. And, of course, it's time to start closing out 'urBook$' for this calendar year. 
In fact, right now is the time to check-in with your accountant to see if there is anything you should be doing to make sure your business ends the year fiscally healthy. A few small changes can make a big difference in your total income and tax liability for the year. Our goal at urBook$ is to ensure our client's have every resource to make prudent financial decision and set achievable goals. 
To get you started, here are a few important year-end tax preparation steps you can take in order to close out the year financially and take advantage of additional deductions:
How was your year financially? This info is vital for your goal setting process and to ensure your books are up-to-date and accurate. Have your bookkeeper or accountant run all of the reports that are relevant for your business and schedule a time to walk through them together if you need more explanation on the numbers and specific breakdowns.
Any income received by December 31 counts as income for the current year. Shifting income to after January 1 delays it from being counted as income until the following year, and this can save you a significant amount of money, depending where you income levels are each year. So ask your accountant if it makes sense to defer December payments until January to cut your tax bill.
Now is the time to spend money on items your business needs so you can maximize deductions. Does your equipment need to be upgraded? Can you stock up on office supplies? Are there vendor payments you can make in advance? Make a list of purchases you can make now to get the most out of your deductions.

If there has been a drop in market value of your inventory, you may be able to claim additional deductions. This depends on your accounting methods, so make sure you check with your accountant to see if this makes sense for your small business.
Make payments to your retirement plan or set one up before December 31 to reduce your income for this year. Now is the time to max out your contributions. If you haven't yet set up a retirement account, talk to a financial advisor to determine which plan is best for your business.
Not only is making a charitable contribution from your small business a great thing to do during the holiday season, but it can also be a good idea for your business finances. And you don't have to donate money. You can also donate items such as clothing, toys and other goods, and claim a deduction for the fair market value. Just be sure to get proper documentation and a receipt for your records.
Remember the slight panic that set in when you started thinking about closing out your books, digging for the data your accountant or bookkeeper asked for and through about your business finances as a whole? Get a jump on next year now by outlining a system you can use to make the process even smoother next year. Getting organized now will make next year a breeze!

Contact urBook$ today to see how our bookkeeping, payroll and bill pay services can assist your business towards successful business goals.  Remember end of year planning begins early, fourth quarter is critical! 

**Tips provided by www.sec.gov/smallbus - urBook$ can only suggest ideas to generalized end of year preparations. For more information, geared towards your business contact urbooksplano.com at 469.304.0036 for your consultation.**