Heads Above the Rest - Are You a Good Leader?

This month we celebrate the President’s Day Holiday, a holiday which recognizes the birthdays of two of our country’s great Presidents. However, it is also a reminder about the historical leadership from which this country has benefited. So, what defines a leader and what leadership skills can small business owners practice to help their company achieve success?

1. Establish a Clear Vision and Goals- In today’s rapidly changing business climate, it is easy to become easily distracted by the “next best thing” or new way of thinking. Having an established vision for your company as well as predetermined goals helps small business owners and presidents remain focused on where they are going. For example, an established revenue goal provides the barometer for you to evaluate if performing a certain function is in line with accomplishing that pre-established goal.

2. Take Holistic View of Your Company- Recognize that corporate success is not determined by a single business aspect. Revenue and profitability figures alone do not tell the complete story of whether a company is on the right track. View financial metrics in conjunction with other cross departmental metrics, key product offerings and customer satisfaction.

3. Build Strong Teams- Successful leaders have the support of strong teams. They recognize their own strengths and weaknesses and build complementary teams of individuals who can provide specific areas of expertise to help move their business forward. A small business owner may possess creativity for developing new product ideas but may need to surround themselves with colleagues that have financial expertise to execute those business plans or market those products.

4. Empower Your Employees- Empathize with your employees (and customers!) and put yourself in their shoes. Acknowledge challenges they may face and be open to suggestions on a better way to perform certain functions. You will establish trust within your organization and be able to get the most from your employees, in a positive way. Empowering employees to offer recommendations, suggestions and decisions will create internal buy-in within your organization thereby fostering realization of a single common goal.

5. Recognize and Embrace Change- Today’s business environment is constantly changing. New technologies for enhancing productivity are consistently introduced. Recognize these technological improvements and use them to your advantage to promote productivity in your workplace. Technological improvements do not replace human capital and ideas; rather, they often streamline operations and allow you to better leverage employee resources and intelligence.

As a small business, our team is striving towards implementing these same practices. We are currently offering a free analysis of your business processes and accounting system. If you would like to learn more on how Analytix Solutions can enhance your business processes in 2012, please call me directly at 781.503.9004 or email me at snpatel@aixsol.com

Satish Patel, CPA
President, Analytix Solutions
Satish Patel, Founder-CEO of Analytix Solutions, has more than two decades of experience as a CPA. He has also advised small and mid-sized businesses on diverse matters such as valuation, accounting, and finance. His experience extends to raising capital and arranging for finance from angel investors.

Online Accounting: How small businesses can benefit from it

As a small business owner, you may be facing a tough task of managing all departments of your business at once. Running a small business is a tough task as it is; add to that the responsibility of handling small business accounting and bookkeeping, and it may become an impossible one. If hiring in-house staff for handling your books of accounts is not an option for you, consider hiring the services of an online accounting service provider. Online accounting is known for its benefits, especially for small businesses. Some of the benefits of online accounting are as mentioned below:

Cost Effective
The first, foremost and most important advantage of online accounting is its cost effectiveness. Not only does hiring online bookkeeping service save you the cost of hiring in-house resources, it also ensures that additional resources like office space, rent etc. are not wasted. You can then invest the money and resources saved through online accounting into the business to ensure its profitability.

Quick Turnaround
Online accounting service providers provide a very quick turnaround as they have dedicated personnel working on your books of accounts. In many cases, the online bookkeeping service provider gives an assurance of updating your books of accounts within 24 hours of receipt of the documents. Such speedy work ensures that accounting and bookkeeping of your small business is up to date at all times.

Experts at Work
Let’s admit it: you do business well, but maintaining books of accounts like a pro is not your cup of tea. When you hire online accounting services, you can rest assured that there is an experienced professional working on your books. Such experts also ensure that the work done is impeccable and there are less chances of any mistake in your small business accounting.

Easy to Use
Online accounting services make your work very easy with a simple procedure. You just need to send your documents to your online bookkeeping service provider via email; the rest is all taken care of by online accounting professionals on the other end. You can hence stop worrying about your business financials the minute you email the document and concentrate on running your small business.

Efficient Record-Keeping
Online accounting or online bookkeeping gives a lot of importance to record-keeping. When you hire a professional for online accounting, you need not maintain separate records for your own reference. The latest and most accurate accounting information will be maintained by professionals when you decide to use online bookkeeping services. You can get access to these records 24x7, which is a facility given by most service providers today.

Online accounting has the potential of aiding you in running your business efficiently and reducing your overall responsibilities. There are many online bookkeeping service providers today which offer customized packages. You can select the one that best suits your small business requirements.

Bookkeeping Services Is An Essential Part Of Your Small Business

Considering the fact that bookkeeping is one of the most crucial functions of your small business, finding a firm providing bookkeeping services is an important task for you. However, finding an appropriate firm for small business bookkeeping is no joke; you need to find the company that matches the standards of your business. If you own a small business, you should find a bookkeeping services firm which has a good reputation and caters specifically to small businesses. Always remember that your business's books of accounts give you an idea of how you are doing, and you can make strategic decisions based on them. A professional bookkeeping service provider is a must to get a clear picture regarding your business.

Consider the following points when selecting a firm for bookkeeping services:

1. Online Bookkeeping Services
   
   

An online bookkeeping service provider will already have the system and the processes in place. Once you send them your documents, processing times will be faster than a bookkeeper doing it in-house. Such service providers for bookkeeping also provide affordable rates. You hence save on time as well as money by hiring them.



2. The Right Kind of Technology
   
   

For online bookkeeping services, the right kind of softwares and programming is very much a necessity. The service provider you hire has to have the right technology in place so that he/she can process documents and give you reports as and when you need them. You can rest assured that your books of accounts are in the right hands when you hire a reliable bookkeeping service provider.



3. Qualifications and Experience
   
   

When you are considering hiring any firm for bookkeeping services, you need to ensure that they have the right kind of qualification as well as experience for handling your books efficiently. The staff that the firm hires should not only be qualified in bookkeeping and accounting functions, but the firm in question should also have the necessary experience to prove its expertise. You can question the bookkeeping service provider regarding its staff as well as past clients so you can get an idea regarding the professionals working for your business.



4. Support
   
   

If you are hiring an online bookkeeping service provider, you need to make sure that you will get adequate support in the form of customer care. You need access to the firm whenever you have any query or complaint. Experienced firms for bookkeeping services generally also assign an individual to answer all queries related to your business's bookkeeping and to cater to your requirements. You can get the details on what kind of support your bookkeeping services firm gives by checking out its website or contacting the firm personally.

Once you find a bookkeeping service provider that meets all of the points mentioned above, you can breathe easy knowing that your bookkeeping and accounting is in the right hands. In addition to saving you time and money, a bookkeeping services firm can become your long time partner and contribute majorly to your success.