Accounting Mistakes Can Kill Your Small Business
Business Growth Simplified Blog
by dinoeliadis
9M ago
Here are some accounting mistakes we see small business owners make.  Under the right circumstances, these mistakes can cost you your business. So, you should have an accounting professional review your accounting regularly. Using a DIY Method of Bookkeeping The DIY method is when you do your bookkeeping without regard for GAAP accounting. It’s apparent when accounting mistakes from previous years or startup costs are allocated incorrectly. Or, when the business owner thinks that since they are good with their personal spending, they make the best bookkeeper for their business is another ..read more
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What is Financial Accounting and Why Do I Need It?
Business Growth Simplified Blog
by dinoeliadis
10M ago
Owning a small business is hard enough without the headache of worrying if your accounting is right.  Too often owners decide it costs too much to hire an accountant. So, they forego getting a bookkeeper and try doing their bookkeeping themselves.  Or even worse, they think their CPA is doing their financial accounting for them! Most CPAs focus on tax accounting, not financial or management accounting.  What’s the difference you may ask?  Here lies the problem.  If you don’t understand the difference between financial and tax accounting, then how do you know if you hav ..read more
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I Do Everything in My Business, or Nothing Gets Done!
Business Growth Simplified Blog
by dinoeliadis
1y ago
Do you often feel like if you don’t do everything in your business then nothing gets done? This is something we frequently hear from business owners, but it doesn’t have to be that way. You just need to learn how to set up your business so that it systematically runs whether you’re there or not. At Business Growth Simplified (BGS) we call it building a self-sustaining business. You may be more familiar with the term absentee ownership. The idea is a simple concept, but it’s not always easy to implement. Let’s look at the major objectives you need to achieve in getting there. Adopt a Business O ..read more
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Business Growth Framework
Business Growth Simplified Blog
by dinoeliadis
1y ago
Accelerating your growth and profitability requires discipline and accountability.  That means applying a proven profit system that provides a roadmap for building a successful business. The business growth framework created by Business Growth Simplified is an example of such a system. BGS built the framework to help small business owner to implement the power strategy of business self-sustainability. Applying this strategy helps you retire from your business and live your dreams in the next 3 to 5 years!     How the BGS Business Growth Framework is Different! Most small busines ..read more
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Get Out of Firefighter Mode in Your Business
Business Growth Simplified Blog
by dinoeliadis
1y ago
Do you feel like you’re always in firefighter mode in your business? Does it seem like every time you get caught up there’s another crisis? You’re not alone. I hear this scenario frequently from small business owners. And I get it; because I felt this way myself from time to time. But what causes this to happen, and how can you prevent it? How Firefighter Mode Gets Started Funny thing is it starts with something I’ve mentioned many times before – your mindset! In case you’re new to this blog, then you may not be familiar with the 3 reasons owners get stuck growing their business. One of the m ..read more
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6 Ways a Business Coach Gets You Independence and Financial Freedom
Business Growth Simplified Blog
by dinoeliadis
1y ago
When your business seems stuck or overwhelming you with decisions, wouldn’t it be great to have someone to help get you out of the rut and focused on exactly what needs your attention? That’s why you need a business coach, to helps you through the rough times and help you improve the skills you need to take your business to the next level. Even GOATs (greatest of all time) have had coaches. Chicago Bulls immortal Michael Jordan’s didn’t win a championship until he had Phil Jackson as his coach. Mary Lou Retton’s became an Olympic phenom through the coaching of Romania emigrant Bela Karolyi Ev ..read more
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Business Ownership ≠ Entrepreneurship!
Business Growth Simplified Blog
by dinoeliadis
1y ago
Entrepreneurship and business ownership are not the same thing. Are you a entrepreneur or small business owner? The answer is the difference between business growth or business stagnation. Small business owners view their businesses like a job. They get up and go to their business each day to earn a paycheck. An entrepreneur on the other hand, builds their business each day as an asset. That asset is designed to generate an ongoing cash flow stream without them being their!  It is from the net profit of this business asset that they make their income. So, which side of the entr ..read more
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Improve Cash Flow – Business Management Simplified
Business Growth Simplified Blog
by dinoeliadis
1y ago
Cash flow is the lifeblood of any business. Without good cash flow, nothing works right!   Improve cash flow and you improve overall business performance. Business management is a growing business is all about managing cash flow.  Not just financially, but even more importantly, operationally!  The problem is while business management training programs might show you the correlation, they normally don’t show you how to deal with it.  They only teach the financial side of the equation. Tuning Your Revenue Engine to Improve Cash Flow Tuning Your Revenue Engine is different. I ..read more
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Increase Revenue Predictively
Business Growth Simplified Blog
by dinoeliadis
1y ago
Everyone wants to increase revenue because revenue is the life blood of every business.  Problems with your revenue can reap havoc across your entire business.  So, if you increase revenue and you fix a lot of other problems too!  But how?  By tuning your revenue engine, of course. One mistake many small business owners make is to assume that underperforming revenue is a sales problem.  But, underperforming revenue is an operational issue! Sales is only one possible problem! Let us explain… If you cannot get invoices collected, you’ll have a revenue problem. Miss ..read more
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Simplify Your Business Management
Business Growth Simplified Blog
by dinoeliadis
1y ago
Does your CPA or accountant make you feel overwhelmed about your business management. This is because everything is about your financials to them. Guess what…they’re only giving you a small fraction of the picture! Your problems start here, because you put trust in them and believe they know what they’re talking about. However, based on the business growth model there are 8 factors that influence your business growth. If you’re not addressing all 8 factors then you’re probably struggling with your business in one way or another.   An Operations Approach to Business Management Listen we ..read more
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