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Have You Been Hacked? How to Minimize Your Risk

Just about every day, we read in the news that another company has been hacked. You might have already been directly affected by the password thefts at LinkedIn last year or Evernote this year. Or you might have had your own social media account, email, website, network, or computer hacked. Worse, many of you have been hacked but don’t even know it.

So how can you minimize the damage and risk of hackers? Here are several tips, some familiar, some not so familiar. As you go through the list, check off the ones you’re already doing and make a list of new ideas to implement to protect your business and personal assets.

Signing Your Life Away

Your signature might look great in a graphic in your email signature line, your website, or your newsletter, but it’s a huge risk. You’re giving away your handwriting, and forgers can easily replicate, master your handwriting, and impersonate you. To reduce identity theft, don’t publish your real signature anywhere.

Money, Honey

Implement strong passwords on all of your financial accounts: banks, credit unions, PayPal, credit cards, and your accounting system. We know it’s painful, but do not use the same password for your financial accounts anywhere else, especially social media! If possible, use a different password for each account to reduce risk further.

What’s Your Password?

Here are some quick password tips:

• Do not use your name, your pet’s names or your kid’s names in your passwords. There’s just too much information available publicly to do that safely anymore.
• Mix up letters, numbers, capital letters, and special characters, if they are allowed.
• The longer, the more secure; most apps require at least 8 digits.
• Change passwords quarterly to be on the safe side.

Password Storage

Most apps that help you save time with passwords are NOT safe! Here’s what we do and don’t recommend:

DO:

  • Password-protect your computer, even though you don’t have to.
  • Keep a separate file of your passwords on your computer, but DO password-protect that file and make sure it is not shared with anyone on a network. Also name the file something totally unrelated like bio, letter, or goulash recipe; do not name it “passwords.doc!”
  • You can also keep a record of your passwords offline, but be sure to lock it up in a safe.
  • When you make file and disk backups, be sure those are locked up and password-protected too. They will no longer have your PC password to protect them.

DON’T

  • Don’t give in to your browser or any website when it asks to remember your user ID and password, especially for your financial accounts or client information. All of the major browsers have been hacked – Internet Explorer, Chrome, Firefox, and even Safari.

If you use password management applications, proceed with caution. Be sure you have properly vetted their security claims. Most of these are simply form fillers that are not safe.

Vulnerable Applications

Avoid leaving vulnerable PC ports open and unattended, including chat, messaging, FTP (file transfer protocol), Skype, webinars, Google hangouts, video sharing, and the like. It’s like having all the doors and windows unlocked in your house; an intruder has a lot of choices for easy entry. When you are on these more vulnerable connections, shut the others down, and close the applications you don’t need. Then logoff when you are done.

A Plug for Software

As soon as a hacker has found a new exploit, the software companies will learn about it and make an update available within days. The hacker community is tight; other hackers will look for software that is not updated and exploit the hack. Avoid the copycat hackers by staying on top of your software updates, not just your anti-virus, but also your Microsoft and other software updates. Doing this will eliminate a great deal of the risk out there.

New Users

If multiple team members need to access your software, consider setting up additional users rather than having one account. If one person gets hacked, the others will likely still have access and can react quicker to the intrusion.

Stay Safe Out There

How many of these are you already doing? Give yourself a reward, and then get busy implementing the rest so you can stay safe.

Seven Strategies to Put the Spring into Your Sales

Spring is here and that’s the perfect time to try something new in your business to make things fresh.  Here are seven ideas to try in your business; pick the one that’s most likely to put the spring in your sales.

1. BOGO

“Buy one, get one” or BOGO deals are always hot and never grow old.  Even if it’s not common in your industry, see if you can adapt and create a deal like this.  The best thing about a BOGO strategy is it spreads more of your product or service around to a wider customer base, which can spur referrals or word-of-mouth, the best kind of sale.

Here’s an example of a BOGO applied to a service: Purchase a seat at a training workshop and bring a co-worker at no extra charge (or charge the price of materials and lunch to cover costs).  You can also offer one month free (cheaper than offering 10 percent off on an annual basis) if you have a service that is performed over time.

2.Weekend Sale

Sales can move a lot of people to action.  The key is to limit the time that they can get the discount to a very small window.  Hold a time-limited sale when it is slow for you (could be during this month when people are hit with tax bills) to boost your volume.

3.Freshen Up Your Displays

If you have a storefront, when is the last time you’ve freshened up your look?  Retail businesses work hard at this, but even if you aren’t in retail, take a look at what the customer sees.  Is it inviting?  Fresh?  Pleasant?  If not, do some spring cleaning!

If you work from home or have a virtual office, your website is your storefront.  See if it needs some spring cleaning so that you look more attractive to your prospects and clients.

4.Introduce New Features

Make a slight change to your existing product by adding a new feature, offering it in a new color, or something similar.  It will feel a little fresher to your clients, which may cause an increase in perceived value.

5. Start a New Niche

Once you’ve gotten a couple of clients from a new industry, you’re off and running.  You will be able to learn from working with this new industry, and then you will be more valuable to others in that space.

Take a look at your client list, and see where you have just a few clients in the same industry but would like more clients like them.  Then go for it!

6.Flavor of the Month Club

Baskin-Robbins used to have a “flavor of the month” so that customers would be enticed to come into their ice cream shops over and over again.  You may be able to have an “item of the month” or even a VIP club where your customers get something new each month.  Your VIP Club could also include priority treatment with specials or discounts.  VIP clubs done right are especially effective in restaurants and retail, but can work in other industries too.  The goal is to increase the frequency of visits to your business by enticing clients to become regulars.

7.The Biggest Opportunity of All

We often overlook the top opportunity that’s under our own noses:  our current and past clients.  They trust us the most, which is the highest hurdle to new business.  If you haven’t contacted your top clients in a while, make a point to reach out.  More sales could be just a phone call away.

Now it’s time to spring into action on the one idea that resonates most for your business.

Is Your Data Backed Up? Seven Often-Overlooked Places

Hopefully, you’re already making backups of the data on your business server on a regular basis.  It’s simple to set up data backups automatically and then forget about them until you need them.  But have you ever looked around to see if there are any gaps in your backup strategy?   Here are seven places to look to make sure all your business data is backed up safely.

1.Online Calendar

Do you use an online calendar?  If you use a calendar such as Google Calendar, then it’s a good idea to keep a backup in case something happens to it that’s out of your control.

In Google, go to Settings from the Settings menu, click the Calendars tab, and Export your calendar to get your backup.

2.Website 

It’s common for business owners to rely on their webmaster to have a backup of their website, but this is often not within the scope of the webmaster duties.  Check with your webmaster to get a backup of your website files so that you are protected against hackers, hosting problems, and more.

If your blog is in the same place, make sure you have a backup of it as well.  You may also want to preserve any online profiles you have in the same way.

3.Your Email

We are so dependent on our email these days that we should consider backing this file up daily, if not hourly.   The location of your email file varies, and some people have more than one.  It’s worth double-checking to see if this file is included in your regular backup routine.  You may also want to create a separate, more frequent backup routine for this critical file.

If you have an online email account, make sure you have a backup of all those emails in case something goes wrong.

4.Browser Data     

Browser-related data, such as your bookmarks, history, toolbar, and saved passwords are all stored in files, but they can be hard to find and recover.  If something happens to your browser data, it may or may not be a big deal.  If it is, include these files in your regular backup so you can recover what you need more easily.

5.Online Bank and Vendor Account Information

If you get audited by the IRS, it’s almost always for a year in the distant past.  Digging up invoices you might have had online access to but no longer do can be time-consuming and painful.  Most banks and vendors have made it super-easy to download PDF versions of your invoices and statements, so be sure you do that before your access to them expires or becomes an extra charge.

6.Local and Cloud Drives 

Every business’s technology setup is different.  If you have a server, chances are you’re getting it backed up regularly.  If you have employees, make sure each of their hard drives are backed up so they don’t lose any files that are not on the server.

If you have your files centralized in the cloud, make sure you have a backup of those files.

7.Desktop

One additional place that may not be backed up is your Desktop.  It depends on your operating system; sometimes desktop files are excluded if you have your backups set to copy only “My Documents” files and subfolders.

Bonus Tip

Periodically check the accuracy and effectiveness of your backups and see if you can recover a file or two.  If not, you’re back to the drawing board, and it’s better to find out in a non-emergency situation that you have some work to do on your backup and recovery strategy.

Reducing Risks 

Being a business owner is all about taking calculated risks.  Having all your important business data backed up helps you reduce your risks and protect what’s perhaps your most important business asset.

Five Ways to Protect your Cash

As entrepreneurs, we work hard for our money, and the last thing we need is to have it disappear due to fraud, hackers, or identity theft.  Some people have called 2013 the year of the hacker, which is worrisome.  But you’re far more likely to experience risks with disgruntled or financially desperate employees and contractors.  Mistakes happen, too, and when they do it can be costly to get them corrected.

Here are five ways to increase your financial controls so that you can lower your business risks when it comes to the handling of cash and cash equivalents.  As you read the list, check to see where you can tighten up controls in your business.

Checking for Checks

Do you have blank checks lying around?  If so, reduce the temptation and get them locked up.  You can also go a step further and have your accountant run a report each month (or week) of missing check numbers.  If any checks are unaccounted for, take action by processing Stop Payment orders at your bank.

Bank on It

If you are still getting your bank reconciliation on paper, where does it get mailed?  The business owner should always see the bank reconciliation before anyone else does.  Also, make sure the person that performs the reconciliation is not the same person that deposits the checks.  Segregation of duties is essential to improve cash controls.

Today, it’s a good idea to do all your banking online, if possible, so that nothing gets mailed.  In that way, you have some reduced risk over identity theft.

Some banks offer multiple-user access to your banking account, so that bookkeepers can get the information they need.  Lock that user ID down as much as possible, so that the user can only get to what they need to.  If they’re honest, they will appreciate the reduced level of responsibility and consider it a smart financial move.

PayPal Protection

If you have a PayPal account, keep the balance low by transferring funds frequently to your bank account.  You can also restrict access to reduce your risk.

Credit Card Control

If you use credit cards in your business, you’ll want to maintain tight control over them.  For each employee or contractor that needs to charge items on a credit card, here are a couple of points to consider:

  • If the credit limit on the current card is sky-high, then ask the bank to lower it or set up a new card with very low credit limits just for employee use.
  • Contact your credit card company and get a card in the employee’s name.
  • Make sure you can access the credit card transactions online.  They are immediate, and if necessary, you can closely monitor what’s going on.
  • Insist on a receipt brought to you for every purchase.
  • Create clear procedures, limits, and approvals before the spending occurs.
  • Don’t let the employee “keep” the credit card during off hours.  Keep it locked up on your premises instead.

Safeguarding Payroll

One of the biggest cash outflows for small businesses is payroll.  Here, segregation of duties comes into play again.  The person preparing the payroll should not be the one who approves it and actually runs it.

You can do this by having different user accounts and controls within your payroll system.

Hopefully, you already have a lot of these ideas in place.  If not, add the ideas you like to your to do list so that your business risks will be reduced.

Planning for an Awesome 2013

For businesses with fiscal years that coincide with the calendar year, the slate of revenues and expenses will be wiped clean on New Year’s Day.  Starting with a clean slate gives us a chance to reflect on our 2012 results before we enter 2013 and experience the hope that comes with a new year.

Hindsight is always valuable, and we can learn important lessons from our past mistakes that we can now more objectively look back on.  We can take those lessons and incorporate them into our plans for the new year so that we can continue to learn, grow, and prosper.

To create your plans for an awesome 2013, here is a list of questions and documents to consider in your business.

Revenue Plan

We can make budgeting more fun by looking at the revenue side first.

  • Are you happy with your 2012 revenue levels?
  • What new product or service lines can you roll out in 2013?
  • Are there any product or service lines you should close in 2013?
  • Should you raise prices?

A revenue plan is useful because it can feed into your annual budget as well as drive your marketing plans.

Staffing Plan

Business is more fun when you have the right team to support your vision.

  • Is your current team sufficient to support your business goals for 2013?
  • In what areas do you need more help?  Should you hire or outsource?
  • Are there any team members that are not pulling their weight?
  • Was there a turnover that you would have rather not had?  How can you retain your best talent?

Master Budget

Your revenue plan and staffing plan can feed into your master budget, which can be loaded into your accounting system.  Tracking actuals against plan and prior year numbers will help you determine how you’re staying on track throughout the year.

Special Projects Plan

What special projects should you consider for 2013?  This might include a move, new fixed assets, or replacing systems and processes that you are outgrowing.

Disaster Recovery Plan

Each year, we watch the news and see people and businesses that were affected by extreme weather events, fires, theft, or other disaster.  Are you protected?

  • Is all of your data backed up to a remote location that is away from your local area?
  • Do you have the necessary insurance coverage for all areas of your business?
  • Are you comfortable with the risks you are taking in business and are you prepared for the worst-case consequences of those risks?  If not, take action to reduce your risks.

Planning for Awesome

Planning helps you become more successful, and it reduces the risks of doing business.  There are many more types of plans, and it’s up to you to decide which ones will benefit your business.  If we can help out in any way, please reach out and give us a call.

Five Hidden Talents of Your Accountant

When you think of an accountant’s duties, you might think about traditional tasks, such as tax preparation, bookkeeping, and financial statement preparation.   Here are five additional tasks that accountants can help with that you might not think of.

1. Evaluating Current Accounting Employees

How can you know if your accounting employee is a star that does everything right, is organized, and is fast or if you’ve accidentally hired someone who talks a good game but is doing everything wrong, takes way too long based on your size company, or is making unnecessary and costly mistakes?  Your external accountant can often help you objectively evaluate your current staff and point out their strengths and weaknesses so you can create the right training programs for them, communicate the right message at review time, or take the proper HR steps you need to.  Your accountant can also help to train your bookkeepers so that they are more efficient.

If your bookkeeper is not performing at the level of pay you are providing, it can be an inefficiency in your business.  Your accountant can help you make sure you are not over- or underpaying your current staff.

2. Hiring a Bookkeeper

For businesses that have full or part-time accounting staff, your accountant can help you test candidates for technical skills so that you can make a wise hire.

3. Selecting Better Tools

Most bookkeepers that do books for one company do not have the experience that lets them see there may be “a better way” to do what they are doing.  Your external accountant can help you find or develop systems, reports, and software to supplement your current accounting system that may save you time and money.

Since your accountant can be working on as many as ten different companies in one day, they have far more experience and expertise than bookkeepers who work at one company at a time.  Take advantage of that experience to streamline your workflow and learn lots of great money-saving shortcuts.

4. Identifying Process Inefficiencies and Irregularities

The fresh eyes that your external accountant can bring to your business can often uncover inefficiencies in accounting processes that can reduce your expenses and increase your profits.  One opportunity area is listening for the “we’ve always done it that way” answer.  When that explanation comes up, usually it means that the person saying it has lost or never knew the reason behind the process, which could now be obsolete.

External accountants have the benefit of seeing dozens if not hundreds of financial statements among their many clients.  We’ve often developed the eagle eye of scoping out expenses that are out of line based on other clients in your industry and company size.  If you are paying too much for telephone, utilities, and other common expenses, we can bring it to your attention that there may be an opportunity to re-negotiate a contract or look for some kind of error.

5. Strengthening Internal Control and Taking Measures to Reduce Risk of Fraud

Developing checks and balances in your accounting system is essential in businesses where employees handle money and have access to credit card numbers and bank account information.  Your external accountant can help you develop internal controls within your accounting system that will work for the level of risk you wish to take in your business.  They can also point out reports in QuickBooks or your accounting system that facilitate controls and that can help you review irregularities on a periodic basis.

Tapping into Talent

Next time you find yourself in one of the above situations, think of your external accountant first, and give us a call.

Five Things You Can Do to Make Tax Season Smoother

We know we’ll never make tax season your favorite time of year, but perhaps we can make it easier.  Here are five things you can do now to smooth out the time required to pull your records together for your tax preparer.

1. Contractor Clean-up 

In preparation for 1099s, take a look at your vendor list now and identify who should receive a 1099.  Perform a mini-audit and ask for any W-9s that are missing so you can plug in your tax IDs without scrambling at the last minute.

2. Check or PSE

Also in preparation for 1099s, you’ll need to break out payments made to vendors by check versus by credit card, third party or what the IRS calls PSE, payment settlement entity.  You’ll only need to issue 1099s to vendors you wrote checks to.

3. Calculated Moves

Is there anything you can calculate in advance of crunch-time?  If you had loans, you can secure the appropriate amortization schedules.  If you have depreciable assets, some of these schedules can be prepared ahead of time.  Did you sell any major assets?  A summary of the transaction can be prepared and ready to go.

4. Playing Catch-Up

If you are behind in your bookkeeping, filing, bank reconciliations, or other accounting chores, it’s a good time to get caught up so all the routine stuff is out of the way.

5. Getting Organized

When the year ends and the tax documents start arriving, place them in a special folder or stack so that all the papers are together.  Scan them in and place them in a specially labeled folder on your PC.  You’ll be more organized than ever.

When all of the mundane items are completed early, it leaves time for the more important conversations, such as discussing new ideas for tax reduction, ways to operate your business more efficiently, and planning for your future.

If we can help make your tax and accounting tasks easier during any time of the year, please reach out and give us a call.

Compliance Checklist: Seven Items You May Have Forgotten

Running a business is filled with regulations everywhere you turn.  These can drain precious time away from the core of your business, but if you ignore them, there could be huge financial consequences you may be risking without even realizing it.  The best way to handle them is to understand your exposure, consult with any experts you need to bring in, create a checklist, and make sure you’re in compliance.

Here’s a head start in creating that checklist.  This is by no means a comprehensive list.  These items apply to most businesses and are often overlooked.   Go through the list to make sure there aren’t any surprises for your business.  If there are, feel free to contact us, and we’ll help you find out where to get answers.

1. EIC notice to employees.

It’s now required annually to notify certain employees about the Earned Income Credit so that more people who need it can take advantage of it.   If you have employees, the next deadline for this compliance item is the first week of February 2013 and can be met if you get the right W-2 forms.  Details are in IRS Publication 15.

2. Corporate meeting minutes.

Just about the first thing the IRS will ask for in an audit is your corporate meeting minutes.  If you are incorporated as a C Corp or S Corp, you need properly formatted and executed documentation of the annual shareholders’ meeting, even if it is just you.  The risk in not having it includes a potential increase in tax liability from undocumented deductions.

3. PCI compliance. 

PCI stands for Payment Card Industry, and if you take credit cards, you may have compliance requirements under this industry standard.  The standard is designed to provide the cardholder with a minimum acceptable level of security, and your requirement is to maintain certain processes and procedures to safeguard the stored credit card data.

4. Document retention.

While it’s a great thing to go paperless, you may get caught by surprise if you are not downloading and preserving the items you used to have on paper.  The IRS and other agencies still need proof of these items in order to approve the deduction.  This includes invoices that are coming via email in PDFs, bank statements you’ve gone green on, and direct deposit payroll stubs, to name a few.

Fax copies fade after a few years and can catch you by surprise when you go to look up an old record and can no longer read it.  It’s best to scan fax receipts in so they will stay readable for the length of the retention period.

You’ll also want to keep up-to-date on how many years it’s necessary to maintain these items in the case of an audit.

5. New hire reporting.

In small business, most of us are hiring so infrequently that it’s easy to forget this one.  Most state unemployment agencies require that you report new hires within about three weeks of their start date.  The purpose of this is to track fathers who have missed child support payments.

6. Changes in state tax compliance.

As geographic borders disappear and our business expands, we need to regularly re-evaluate state requirements on income, franchise, and sales tax obligations.  It can be too easy to “do things the way we’ve always done them” and forget that as our business expands into new territories, new obligations can arise.

If we’ve hired a virtual employee in another state, we may have new obligations.  If we’ve earned money during a speaking engagement in another state, we may have income to report in that state.    And, of course, if we open new offices in another state, we have new compliance items to deal with.

7. Payroll posters.

Surprisingly, the highest payback item in this list for those of you that have employees may be posting your payroll posters.  Compliance usually costs less than $100, and the fines avoided can be as much as $17,000, a pretty big dent, no matter how big your small business is.

Small Business Compliance

Did you get caught by any surprises?  If so, let us know how we can help to bring your business into compliance and help you avoid unnecessary costly risks.

Are You Vulnerable to Fraud?

According to the Association of Certified Fraud Examiners (ACFE), over $3.5 trillion is projected to be lost to fraud worldwide in 2011 alone.  The typical organization loses 5 percent of its revenues each year.  While we have a lot to think about as entrepreneurs, we do need to take time to educate ourselves about this unfortunately common business loss.

The Fraud Triangle

An easy way to understand fraud is to learn about the Fraud Triangle.  The creation of the Fraud Triangle is credited to Dr. Donald Cressey, a well-respected criminologist and sociologist who made significant contributions to his field.

Three components need to be present in order for fraud to occur:

  1. Motivation (or Need)
  2. Rationalization
  3. Opportunity

When fewer than three legs of the triangle are present, we can deter fraud.  When all three are present, fraud could occur.

Motivation

Financial pressure at home is an example of when motivation to commit fraud is present.  The fraud perpetrator finds themselves in need of large amounts of cash due to any number of reasons:  poor investments, gambling, a flamboyant lifestyle, family requirements, or social pressure.  In short, the person needs money and lots of it fast.

Rationalization

The person who commits fraud rationalizes the act in their minds:

  • I’m too smart to get caught.
  • I’ll put it back when my luck changes.
  • The big company won’t miss it.
  • I don’t like the person I’m stealing from.
  • I’m entitled to it.

At some point in the process, the person who commits fraud loses their sense of right and wrong and their fear of any consequences.

Opportunity

Here’s where you as a business owner come in.  If there’s a leak in your control processes, then you have created an opportunity for fraud to occur.  People who handle cash, signatory authority on a bank account, or financial records with poor oversight could notice that there is an opportunity for fraud to occur with the ability to cover the act up for some time.

Prevention

Once you understand a little about fraud, prevention is the next step.   To some degree, all three points on the triangle can be controlled; however, most fraud prevention programs focus on the third area the most:  Opportunity.  When you can shut down the opportunity for fraud, then you’ve gone a long way to prevent it.

The Typical Fraud

The median cost of an occupational fraud case was $140,000, according to the ACFE.  It goes undetected for a median time frame of 18 months.   The most likely way to discover fraud is a tip from an employee who works at the victim organization.

Small Business Vulnerability

Small businesses are the most vulnerable to fraud, because they employ the least amount of fraud prevention controls.  Here are just a few quick tips to help prevent fraud in your organization:

  • Create a culture within your organization that deters fraud and provide employees with education about fraud prevention to reduce rationalization.
  • Tighten down access to financial areas, segregate duties, and use other internal control best practices to reduce opportunity.
  • Provide financial literacy programs to employees to reduce need or motivation.
  • The ACFE recommends that small businesses provide employees with an anonymous way to report suspicious activity.

While we hope fraud never happens to you, it makes good sense to take preventative steps to avoid it.  Please give us a call if we can help you in any way.

Six Quick Productivity Tricks So You Can Go Home Early

If you have an endless to-do list, you’re not alone these days.  Most of us are constantly looking for ways to work smarter and get more done.  Here are six quick tips to help your productivity so you can go home early.

1. Group tasks.

If you have lots of errands to run during the week, why not set aside one day or a part of a day to get them knocked out all at once?  It saves start/stop time and may also save gas and time getting dressed up (if you work at home).

You can also try grouping tasks such as personal care appointments, doctor’s appointments, sales calls, and client visits.  Your schedule will be freed up in big blocks of time so you can focus on creative projects without having to constantly watch the clock.

2. Use checklists.

Checklists are best when you have a task you need to repeat.  They’re great when you’re stressed and don’t want to forget a step (such as in packing your suitcase for a trip).  They’re also great for tasks that repeat infrequently (Now how did I do that last time?)

Stop and take a minute to create your checklist the next time you perform a routine task that you will repeat in the future.  You’ll thank yourself the next time.

3. Organize your email.

If you are using Microsoft Outlook for email, consider getting it to work as hard as you do.  As your email comes in, you can have Outlook sort the low-priority emails that come from lists, Google alerts, social media notifications, and subscriptions into folders.  Create a subfolder in your inbox called “lists.”  Then set a Rule to have that type of email go into the “lists” folder.  This one step will substantially de-clutter your inbox.

4. Delegate more.

If you’re a little wary about delegating, try this exercise:  Look at your to-do list and put an hourly rate next to each task that you are doing.  If someone paid you to do that job, what would you get on the market?  Then look at the tasks with the lowest dollar value next to them.

If you feel your time is worth more than the lowest rated tasks on your lists, it’s time to help someone else out who is unemployed so you can be freed up to use your more valuable skills.

5. Order online.

When is the last time you’ve been to the office supply or pharmacy when you know they deliver?  (Yeah, me, too. Enough said.)

6. Avoid long learning curves.

Whenever you realize a task will have a really long learning curve, then it’s a red flag that it’s time to find someone to hire to do it for you.  Here are several examples:

  • Doing your taxes and researching all the tax law changes
  • Installing a new accounting system and customizing it
  • Learning about every new social media platform out there
  • Writing a legal contract
  • Creating a report
  • Troubleshooting a computer problem

The cost of going through the learning curve can be dozens of hours of your precious time lost compared to bringing an expert on board who can perform that task in a matter of hours or minutes.

How did these six ideas compare to your favorites?  I hope you picked up an idea or two so you can get home earlier.

105 Ways to Speed Up Cash Flow in Your Small Business

IT’S THAT EASY! ARE YOU READY?

I’m Ready!