When they start their companies, many entrepreneurs create a business plan to serve as a blueprint for the structure and organization of their businesses. Unfortunately, once the business has been successfully launched and is up and running, owners often put the business plan on a shelf where it collects...
Owners of small and mid-sized businesses face many daily challenges in running their companies — everything from managing their employees and operations to juggling their finances and keeping the cash flowing. But one challenge that is often overlooked is the challenge of dealing with regulatory surprises that are sprung by...
In 2014, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) announced the creation of a new principles-based revenue recognition model. This new revenue recognition standard, which is referred to as Accounting Standards Update (ASU) 2014-09, will replace the current industry-specific GAAP rules with a single...
Many companies today are under considerable pressure to sustain growth by increasing revenue, controlling costs and improving profits. In the process, they are reviewing their cost management programs with the goal of improving results, especially during this time of the year when most companies are submitting budgets for 2016...
Most Los Angeles and Southern California business owners and entrepreneurs do business with one or more different vendors and suppliers. These vendors may provide goods, services and raw materials that are essential to the manufacture of a company’s products or delivery of its services. Unfortunately, many owners fail to negotiate...
Many Los Angeles and Southern California business owners and entrepreneurs spend a lot of time and money travelling to meet with customers, prospects, vendors and others. In fact, travel is an accepted expense that’s considered to be just a part of doing business for many companies — and a...
It’s not uncommon for Los Angeles and Southern California business owners and entrepreneurs to suffer from “analysis paralysis.” You know what I’m talking about: You spend so much time analyzing a particular situation, problem or opportunity that you never end up taking any action. Or in other words, you...
When starting up new companies, Los Angeles and Southern California business owners and entrepreneurs often rely on a Certified Public Accountant (CPA) to handle their finances and prepare and file their business tax returns. Using a CPA to handle these tasks may work for a while, but as a...
Properly managing the human resources function is one of the biggest challenges for many Los Angeles and Southern California business owners and entrepreneurs. A business is only as strong as its employees: hiring the right employees and retaining them for the long term is one of the most important...
Many Los Angeles and Southern California business owners and entrepreneurs make sure they visit their doctor once a year for an annual checkup. This is the best way to uncover potential health problems early on, like high blood pressure or cholesterol, and treat them before they can lead to...