All too often we hear ‘I trust my staff’ or ‘I trust my bookkeeper’. Placing your confidence in someone is not the same as implementing internal controls to protect your business. Separation of duties and a few basic internal controls can go along way in preventing fraud.
The Power of Broke (New York: Crown Business, 2016)
Reading ‘The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage‘ by Daymond John whom we had the opportunity to hear speak at Accountex 2017.
Refreshing take on business.
There’s nothing like the crisp cool fall mornings here in the high desert of New Mexico. It is my favorite time of year. The nights are cool, the days are warm. The air sparkles. Hot Air Balloons are populating the early morning sky. Soon there will be hundred’s as the opening day of the Albuquerque Balloon Fiesta draws near. A short drive north to our neighboring state Colorado and you will see the beauty of the fall leaves in a myriad of oranges, reds, and yellows against the stark white of the Aspen. I recall sitting with Dad and watching the huge leaves of a walnut tree tumbling in a fall breeze across his lawn last fall. They appeared to be a troop of gymnasts arrayed in fall colors turning cartwheels. Ah Fall! A time of harvest, reflection, and preparation for the coming winter. Soon it will be a new year. (more…)
We are always looking for solutions our clients can use that improve their workflows and address their pain points. Our favorite features address those pain points that seems so small and yet drive us crazy and take time out of our day. The return in efficiency, time and a strong workflow makes HubDoc an easy recommendation to clients. It is a good first piece in a technology solution stack. (more…)
Reading the article “Howard Schultz hands the ‘keys to Starbucks’ to incoming CEO and tech veteran Kevin Johnson” last week, I was reminded of the journey of Starbucks and the many business lessons to be learned.
As an avid reader of business books and an accountant working with small business owners – I enjoyed Onward-How Starbucks Fought for Its Life without Losing Its Soul,by Howard Schultz and Joanne Gordon. My favorite lesson is where Schultz, having come back as Starbucks CEO, talks about his learning to look under the hood. We find that many business owners, large and small struggle with accounting as it is an area of the business they are not comfortable with or don’t understand well.
“…enlightened me to my own shortcomings as a leader: I hadn’t delved far enough into the areas of the business that I was not comfortable with or had little innate interest in. I should have looked under the hood more often.” Howard Schultz
What’s business lesson have you learned from Starbucks?
With today’s OCR technology, software integrations, automation and bank feeds we are using data differently. Today, more is less.
No longer do we look to consolidate or minimize. I remember when we used ‘generic’ vendors in vendors lists so you didn’t have every gas station in the area in the vendor list.
A frequent question today, is “What should I do about all these names coming thru my bank feed? I recommend accepting and adding them to your contacts and creating a bank rule. Why? More data can mean less work and greater efficiency. (more…)
Change is not always easy. Perhaps this is intentional as only after the struggle when the butterfly chrysalis opens is the true beauty appreciated.
Accounting continues to evolve and change. New software and new technology continues to advance at an incredible pace. It is changing the face of accounting as we know it. Our clients are changing software. Their needs are changing. They are looking at automation as a resource to fill gaps, reduce costs and enhance their current processes. They need new procedures. They need an Accountant; a Strategic Advisor.
We at SunDog Consulting are changing to help our clients meet these needs. Check out our new website. Subscribe to our blog to stay up on Small Business News, Solutions, Tips and Technologies. Let us hear from you on Facebook and follow us on Twitter as we embrace Change.