Posts Tagged ‘Bad Idea’

Are You Getting a Paycheck?

Friday, July 30th, 2010

As an entrepreneur, are you getting a paycheck every two weeks, every month or any other time?  Or are you simply continuing to put everything back into your business and only pulling out money for yourself when it’s absolutely necessary?

Though many people fall into this kind of trap, it’s a bad idea and not a long-term solution at all.  If you’re making any kind of a profit (and if you aren’t, it’s time to rethink your sales and marketing plans), you need to start paying the top dog — YOU!

How much should you give yourself as a salary?  It all depends upon a number of factors… which is where the help of a virtual CFO can come in handy.  A virtual CFO will assist you in making sure that the paycheck you receive is fair without hurting your company. 

Remember — taking a paycheck isn’t selfish.  It’s a smart business move.

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  • When It’s Time to Change Your Accountant…

    Saturday, February 6th, 2010

    It’s pretty common for individuals and business owners to carefully choose a CPA and stick with him or her almost blindly.  But let’s face it — times change and needs do, too.  Sometimes, CPAs that were a great match for you and/or your company years ago don’t fit the bill any longer.

    If you’re seeing any of these red flags between you and your current CPA, it’s not a bad idea to start investigating other accounting professionals.

    • Your CPA is difficult to reach, and when you do reach him/her, you feel like you’re not being “heard”.
    • Your CPA has really never taken the time to learn about your business.  You feel like just another client.
    • Your CPA doesn’t seem to want to learn anything new.  This becomes more of a problem with each passing year.
    • Your CPA was “inherited” by you and isn’t someone with whom you’d choose to deal.
    • Your CPA either always says “yes” or always says “no”… and you feel like it’s just to get you to stop talking.
    • Your CPA rushes all projects through at the last minute, giving you little time to discuss them.

    Do any of these red flags sound familiar?  If so, I’d encourage you to do yourself a favor and start looking around

    Remember — you’re not married to your CPA!  So if you’re unhappy with the relationship, it may be time to move on.

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    Are you worried about your company’s cash flow?  Then sign up for my free report,  9 Ways to Increase Your Cash Flow.

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  • FinancialFutureCFO:  Protecting your company for the future.
  • Join FinancialFutureCFO on Twitter.
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