I was just reading a few articles listed in my daily Google Alert for Small Business. I noticed several reports from corporations about their first quarter earnings. Hmmm. . . How many of other small business owners take a look at their first quarter earnings? Do You? First quarter reports tend to look only at numbers. How much revenue increased or decreased. How much expenses went up or down. Is there enough cash flow. It is good to know how much revenue you are generating in comparison with the expenses you are incurring. That means - Are you making any money? It is also good to know if all your products and services are profitable. I think a first quarter report is more than just numbers. I think it's important to evaluate customers and clients. Did you lose some repeat clients? If so, why? You don't want to lose clients so it's important to know why someone leaves so you can keep it from happening again. Once in a while it is good to lose a client especially if they are high maintenance and your fee doesn't cover all the extras. Did you land some new clients? If so, how? You will want to be able to repeat the process to increase your roster (i.e. your revenue). My first quarter was interesting. I lost one long time client. She is cutting costs. Some choices are out of my hands. Several new clients joined my roster. I am happy to be helping individuals and their companies in New Jersey, Washington, California and Arizona. My revenue and expenses went up. The good news is my net profit went up. How was your first quarter? #### Suzette Flemming is the President of Flemming Business Services. Providing financial direction to businesses since 1994. Learn how to save money and increase your bottom line by subscribing to our free newsletter – Make the Most of Your Money – atwww.FlemmingBusinessServices.com. ...read more
By Flemming Business Services, Inc. April 22, 2008
Many people give money to family members as a gift in their time of need or if they come into a substantial amount of money. Giving money to a family member can sometimes be taxed; however, there are ways to avoid this this and give money to family members free of tax. ...read more
Many people have opted to learn to file their taxes themselves. This is a great way to save money, and it puts people in control of their own tax return. The process can be confusing, but there are enough resources to learn the correct method. ...read more