Keeping the Nest Egg Intact

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I don’t want to save money and then spend it to get through our slow months. Every year it feels like we give back all our profits when it gets quiet. Help!

THOUGHTS OF THE DAY: Savings are essential. So is fiscal discipline. Know what you can and cannot afford to do. As the business grows, be careful not to increase volatility. Consider getting into complementary business.

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Good Accounting Practices Must Be a Top Priority

Office staff doesn’t know enough about our accounting system, or accounting in general. The accounting department says they’re overwhelmed. If anyone in that department is out sick, they get really behind. Space is very limited in accounting, and they’re dealing with a lot of interruptions. We could be doing a better job with the numbers side of the business. Any suggestions?

Thoughts of the day: Pay attention when accounting says they’re overwhelmed, as their performance is essential to a healthy business. Putting accounting in an area where they can’t be easily disturbed is a really good idea. Look for opportunities to involve people from around the company in accounting functions. The more your people understand what makes the numbers work, the more they can help ensure a profitable year.

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