This post may contain affiliate links*. TDT may earn a commission if you make a purchase through some links, at no cost to you. COVID has given many of us a new perspective on life. Additional time spent at home with family, fewer activities, and an overall less hurried lifestyle has given us the opportunity [...]
Amid the uncertainty of 2020 and into 2021, leaders in all industries are taking a close look at their revenues, costs, and cash flow. These considerations are important and sometimes urgent, especially in the past year or so. One approach is to focus primarily on cash flow. A cash flow focus alone won’t always [...]
It’s easy for inefficiencies to become the norm, especially during periods of growth. During these times, it’s common to focus on growing gross revenue, which is important; however, there are many processes in your business that eventually boil that revenue down to your net revenue, which represent the true results of your efforts. Do [...]
Setting goals can be fun, especially if someone else is responsible for achieving them. For most small business owners, myself included, the pressure and responsibility for achieving revenue goals rests heavily on the business owner. When faced with this pressure, we can either: Set a vague goal (so it’s hard to evaluate whether we [...]
A lot happened in 2020. The IRS pushed back the usual April 15 deadline to July 15 due to the COVID-19 pandemic. Tax scammers’ activities increase during tax season and times of crisis, and there have been more opportunities than usual for scammers to take advantage of due to coronavirus tax relief and Economic [...]
It is easy for inefficiencies to become the norm, especially during periods of growth. During these times, it’s common to focus on growing revenue, which is important to support your programs; however, there are many processes in your organization that eat up that revenue, and if they aren’t performed efficiently then they can take [...]
One of the most common questions we hear from business owners is “How do I get my employees to care about my business as much as I do?” The employees don’t have the same financial and emotional capital invested, so they’ll probably never care as much, but you understand the essence of the question. Our [...]
The number of nonprofit organizations in the U.S. with an annual revenue of over $1 Million has increased dramatically over the last decade. During high growth times, organizations must dedicate time to their reporting needs; as revenues increase, so do expenses. To maintain accurate and relevant financial reporting, organizations need to properly organize expenses, analyze [...]
We can all agree that 2020 has not gone as expected - a global pandemic, unrest around the world, and an upcoming election that could change the political landscape are just a few of the challenges we have faced. However, despite all the turmoil, the IRS is still in place and taxes are still being [...]
There is no denying that the year 2020 has changed the current state of how we work individually, and how we work as a member of a team. The events of 2020 will also more than likely become a catalyst for how we work in the future. During the last six months, I think it’s [...]
