Moxie Bookkeeping provides reliable bookkeeping and consulting services to small businesses, artists and non-profits in New York City. Moxie’s team works closely with clients to understand their finances, as well as their work and values. Through this comprehensive approach, we take care of clients’ books and create systems that strengthen their work.
Growing your business can seem like a daunting task. The truth is that there are four effective ways that you can grow your business without having to stretch the limited time in your already-busy schedule.
Focus on Networking
One of the fastest ways to grow your business is to focus on creating a network of people that you can gain referrals from or work with.
While a lot of people are focusing on online marketing to grow their businesses quickly, networking still works! Remember, there are business owners out there who may have more work than they need. You could be one of the first people that they send their overflow of business to, but you need to build that relationship first.
Attend local networking or meetup events that are focused on collaborating with other entrepreneurs and business owners. Make sure that your partnerships aren’t just beneficial for business, but that you also like the person that you will be gaining referrals from. This will help the relationship in the long term and be beneficial to you both.
Online Review Management
Using online reviews is one of the easiest and fastest ways to grow your business. That’s because reviews have the same effect as word-of-mouth advertising. When people see and read about the benefits of your product or service directly from your customers, it increases the likelihood that they will contact you to work with you.
Using Google for reviews is one of the best ways for you to get reviews from your clients or customers. When obtaining Google reviews, there are a number of best practices that should be followed to prevent unnatural manipulation of review content. For one, ensure that the person who is doing the review for you was a paying customer in good standing. Never buy Google reviews or ask someone who is not a verified client to review your product or service.
Create Content That Converts
Helping people along the buyer journey will grow your business quickly. Because this is something that rests solely in your hands, you want to focus on creating content that converts lookers into buyers.
When you’re planning out your content strategy, consider what it is that your target audience needs and how your content provides that value for them. This is how you create content that converts. Solve an immediate problem, and help the reader consider a long-term solution.
Social media is one of the best ways to help your business grow quickly and gain name recognition within your industry. If you have not created a solid social media plan, then expect that people who find you on social media may not be there to buy from you but to simply gain you as a follower. You need to reverse this and make sure that the people who are connected to you on social media are looking to buy from you, not just have you as their follower.
Plan your social media content at least 30 days in advance. This will ensure continuity across all platforms that you’re promoting on and can also help you see the long-term social media strategy for your business. Remember to analyze the strategies that you’re using so that you can evaluate which ones are benefiting your business growth the most.
Testimonials are useful even if you also have Google reviews. While Google reviews are housed online, you can use testimonials anywhere within your business for marketing purposes. They can be used on your website, in your mailed marketing material, in commercials, and in radio ads.
When you’re getting testimonials from your clients, this is a great opportunity to use video. Because video converts better than text alone, you can ask a few of your clients to give you video testimonials as well as written ones. You can then post this video testimonial with a short intro on outlets like YouTube or use them in places that have audio spots for advertisements.
These are four ways that you can grow your business quickly, whether you’re just starting out or whether you are established and looking to breathe new life into your business. Use two or three of them together or all four and see how quickly your business will grow.
Are there too many tasks for you to handle in your small business? Moxie Bookkeeping & Coaching can help take some of the pressure off by offering holistic bookkeeping, mentoring and consulting services. Talk to Moxie Bookkeeping & Coaching today to see how we can serve your business!
As your business grows, you need to make gains in productivity and efficiency in order to keep your operating costs down. A labor-intensive process can only act as an impediment to future business growth. Here are some reasons why you should consider ditching paper if you want to boost your business’ productivity.
Become More Environmentally-Responsible
Businesses that are friendlier to the environment generate more goodwill from their customers. Using paper is a surefire means of harming the environment, even if your business recycles. The old adage of eliminating paper to save trees is actually true, and when you go paperless, you can feel better about yourself while looking good to your customers.
When a paperless environment is paired with the use of clean and renewable energy, you have the best of all worlds: preserving trees and not harming the environment through excessive power usage.
Paper costs you money. Not only does it cost money to purchase, but it also is expensive to administer because you need to hire people to manage the files. To help decide whether to go paperless, you should compare the costs of electricity and software versus the costs of paper and personnel. You could have the potential to save a lot when you switch to a paperless system. Also, you can streamline your business and reduce the amount of space that is necessary to run your company. Plus, it will be much less stressful without reams of paper cluttering up your space.
Paper can get lost. When you lose a record that is on paper, it is gone forever, and the damage to your business can be irreparable. Digital records exist in the cyber realm and can be backed up and restored so that they are never really lost. This reduces the risk of errors or data loss.
Digital information can easily be transferred without the risk of a mistake in transcription. In addition, going paperless enhances the security of your information; it is much more difficult for someone to steal your information when it is digital as long as you have the right cybersecurity measures in place.
Using paper for your business is an old habit that is costing you money in more ways than one. Consider eliminating it to the extent that you can and make your business more efficient and profitable.
Helping your business be as effective as it needs to be can be hard to do on your own. That’s why Moxie Bookkeeping & Coaching is here to offer consultation and coaching services to improve your business operation!
The hiring process is much more time-consuming and costly than many business owners realize. When you’re sifting through dozens of applications and sending out blasts on job search sites, you can end up making quite an investment. To make the whole process easier and save time and money, you should use these three tips.
Use Job Search Platforms
Job search platforms have revolutionized the hiring process. Employers can post a job and be as specific as necessary with requirements for candidates. These can include what sort of education, work experience, and training candidates need to have. You can use filtering to screen out candidates who don’t have certain words or phrases in their resumé or cover letters. While you still need to look over applications and choose the most qualified candidate, a job search platform can help you get to that point much faster. If you are looking for a freelancer, Upwork lets you can see performance and rates on past jobs.
Use Aptitude Tests
Someone might seem like they’re the perfect candidate until they start working and you realize just how in over their head they are. Aptitude tests allow you to gauge just how much ability a candidate has. You can test for specific traits or skills prior to hire, which can help ensure that the time and money invested in an employee’s training is spent on the right individual the first time. While all employees need some guidance when they start, you shouldn’t have to spoon-feed them information that they should already know. A well-structured aptitude test can help you find candidates with the traits you’re looking for, such as being detail-oriented or capable of thinking critically. Its also important to hire for personality and good cultural fit for your office – even if everyone works remotely. 16Personalities can help you see what kind of a person you are interviewing and if they have the soft skills needed to get along. Make sure you test their skill on a small project to confirm the person can do what they say they can!
Hire Remote Workers
If you want to expand your team but are worried that you don’t have the space for it, there’s a solution. Hiring people to work remotely from home allows you to bring in talented individuals who can work from the comfort of a familiar environment. Before you hire remote workers, you need to make sure that they have a reliable and secure internet connection and that they are self-motivated, as working from home means that they’ll need to have plenty of self-discipline. Through hiring remote workers, you can help keep your rent costs reasonable.
All of these tips can make a difference in the hiring process but always trust your gut, too. You can find the right employees by leveraging sites and tools that do assessments for you, helping to filter to those who are best equipped to handle the position. You help to keep your business financially in-check by not throwing away time and money when hiring. A more efficient hiring process can lead to a more efficient business. Hire slow, fire quick!
Making sure that your business is as productive as possible can be a difficult task. Many business owners are unaware of the methods that they can use to streamline their business properly. Their productivity can suffer, and they may end up losing money because of it. Fortunately, we have a guide that will help you improve your business’ efficiency tremendously.
Compartmentalize Your Communication
Communication is one of the most important components of a successful business. It allows us to share critical information on a daily basis that helps us create more opportunities. Unfortunately, many businesses do not know how to communicate properly. Many employees end up using their personal phones to make work calls. This can cause confusion between fellow employees, management, and even clients. It is recommended that all employees utilize work authorized communication devices in order to prevent confusion from happening.
Outsource Receiving Product
Self-storage is an incredibly helpful service that many businesses can benefit from. Some storage units will receive shipments and packages on your behalf. Sending someone from the office to go and receive a package can disrupt the workflow at your business throughout the day. Businesses lose countless hours from sending employees to run errands throughout the day. This is just an example of one them that can be avoided by using the services that are available to you. Make sure to utilize the storage company’s services of package delivery in order to prevent disruption.
Stay on Task
Many businesses have a problem with employees who spend too much time on social media. Dozens of companies lose precious productivity time throughout the day due to employees becoming easily distracted. It is in your company’s best interests to install website blockers over your network. This will prevent employees from spending too much time searching for useless information online. Allow the computers to have designated free time during lunch or other breaks during the day to reward your employees for their hard work instead. It is also important to have some type of cell phone policy in place to limit the use of cell phones during working hours.
Making sure that your business is streamlined is crucial for success. There are dozens of things that you must accomplish each day. Unfortunately, disruptions and other roadblocks can prevent you from unleashing your full potential in your business. Make sure you utilize these tips that we have provided to you to ensure that your business becomes streamlined.
Tax season is upon us, and you might be making some last-minute tax preparations. Small businesses and freelancers have extra steps that they need to take to ensure that they pay the least amount of taxes possible, but you might want to know exactly where you can get a few more deductions and how you can complete your taxes in the most efficient way.
Moxie Bookkeeping & Coaching doesn’t prepare income tax – we do management accounting, not tax accounting. This means we help you get and stay organized throughout the year so that tax prep, whether you DIY or CPA, is smooth and easy. If you don’t feel ready, here are a few tips to help you feel much more prepared (and maybe call us to help prevent this stress!)
Use Tax Software
Many businesses lose money every year, sometimes in significant amounts, simply because of incorrect or inefficient tax planning and execution. Filing manually is more confusing and less efficient than using tax software. TurboTax and H&R Block are easily two of the most well-recognized tax software programs available on the market, and they both have features that are designed for small- to medium-sized business owners.
Take the Home Office Deduction
Some business owners are shy about taking the home office deduction, but you should feel confident about it. This tax deduction allows business owners to deduct $5 per square foot for a maximum deduction of $1,500 on the simplified home office deduction, and it’s especially useful for artists and other freelancers who need a large workspace – but be sure you understand the stipulations that allow you to take the deduction. The space must be used *exclusively* for business.
Remember Other Deductions
Depending on the type of business that you own, you could have other business deductions that could save you huge amounts of money. For example, if you need a car or truck for work, you can deduct your mileage. And if you collaborate with independent contractors, you can deduct the amount that you pay them. The cost of rent is also deductible, whether it’s for a storefront or office space. If your business is very new, it might not feel like a small deduction will be worth it, but several small deductions can make a big difference in the long-run.
When you own a business, taxes can be much more complicated and stressful than when you’re working for a company that withholds earnings for you. If it’s your first year as a small business owner, you’ll want to make sure that you have everything set up well in advance so that you don’t miss out on big savings.
Sometimes having someone else do your taxes for you is the best choice. Whether because you’re busy and want to focus on your business, or because you just might not be the best at balancing your books yourself. For those times, let Moxie Bookkeeping & Coaching refer you to one of the great CPAs we work with!
The role of entrepreneur requires serious commitment to the business in order to succeed and generate enough income to live the life that so many others wish they lived. Provided that you are willing to take the right steps for success, you can gain independence from the everyday routine of working for someone else. However, these are five pitfalls you need to avoid in order to keep your proverbial ball in play.
Criticizing Team Members in Public
Think of how you would feel if your boss called you out in front of other team members. This is a poor management practice that can harbor resentment among your team and cause some of your best talent to quit. Unless somebody’s misstep nearly killed you or someone else, criticize in private and praise in public.
Acting Like a Control Freak
Instead of micromanaging your team members, manage them in a way that brings out the best in each and every one of them. Rather than telling everybody how to do their tasks, tell them what to do and allow each of your team members to wow you with their creativity and ingenuity. Learn to manage people effectively and provide the resources everyone needs with reason.
Remember that you are at the helm of your business, and either you control the destiny of your business or someone or something else will. The consequential path may not be the one you had originally chosen for your business. In order for your business to earn you returns, you must maintain keenly aware of the everyday operations and to keep your thumb on the pulse.
Addictions and Compulsive Behavior
Some people have a hard time handling success the right way, and you have likely seen this from other prominent figures in the form of frivolous spending, gambling in hopes to gain more money faster, and drug addiction that can destroy your life and the lives of others around you. Drug abuse is quickly becoming the most popular American pastime, with rates of addiction steadily ticking up year over year. This is a trap you must avoid if you want to succeed and see more of your earnings remain with you.
Though it’s nice that you can borrow money, keep in mind you have to repay it at some point. Excessive debt and the associated interest charges can quickly take their toll on your business by threatening cash flow and making it harder for you to take out loans in the future. If you find you need a loan, be mindful of how much you borrow and ensure that you have a realistic plan to repay.
In the continuous struggle to recruit and retain good employees, companies can gain an edge by giving employees various perks that go beyond salary. Many of these perks center around providing quality insurance and benefits. These are the intangibles that increase employee loyalty. Here are some of the ways that your business benefits from providing good insurance and benefits.
Increase Engagement and Energy
Benefits are where your company goes the extra mile for its employees. When employees feel that they’re being taken care of, it increases their motivation to perform for the company. Just like you’re not cutting corners for your employees, they won’t cut corners for you. According to Go2HR, “compared to employees who are motivated, disengaged workers are less efficient, miss more work days and cost their employers thousands of dollars in lost productivity. Keeping employee morale high is one of the best things you can do to instill loyalty and maintain a productive workplace.” Think of benefits as an area of investment in your business. The more of an investment that you make in your employees, the more engaged they’ll be with their jobs and the overall company. This engagement will cause employees to expend the maximum possible energy at their jobs.
Build Employee Loyalty
According to Wellable, “in the constant battle with turnover and employee disengagement, employee health and loyalty are valuable resources. Luckily, this asset can be earned and improved through wellness initiatives. Employees who felt their employer-provided benefits positively affected their lives were 40% more likely to say they were loyal to their company.” Simply stated, benefits increase employee loyalty. If you don’t take care of your employees, then a competitor will. As a result, there will be employee defections, which negatively impacts your bottom line. The difference between good benefits may not even be so much that a business should be willing to risk the consequences of providing inferior ones.
Subpar insurance and other benefits will likely cause an employee to have to divert work time to deal with personal business. Alternatively, if their insurance is inferior, employees may not even want to visit the doctor out of fear that they will rack up large medical bills. When employees are able to effortlessly obtain inexpensive medical care, it encourages them to take their wellness seriously. Alternatively, employees who aren’t able to take care of themselves may miss large amounts of work time as sick leave or even bring the illness into the office. This will drastically harm the productivity of the business. Good benefits spur productivity.
What you give your employees in addition to their compensation defines how your employees view the company. Providing good insurance and benefits helps avoid the perception that your business is cheap and can keep you in your employees’ good graces. When you provide your employees with all of the necessary tools to do their job and go above and beyond by providing them with great benefits, you will be able to see the results. For improved business productivity and success, strategic consulting can be a significant help! Fix your budget, develop a business plan that prepares you and your employees for growth, and more!
Valentine’s Day is a great time to take stock of what inspires you in your work and to find ways to amplify what you love about what you do.
But, for too many of us, our rewards are limited to positive feelings of accomplishment and purpose while we put too much time, energy, and resources into the business. We love our business but it doesn’t always love us back like it should. We promised ourselves freedom, balance, and sustainable financial compensation for our work, but we haven’t always seen those promises kept.
What one thing would you change that would have the most positive impact?
What are your 2019 goals to feel more satisfaction and less stress?
What self-care techniques do you practice to ensure you are at your best?
Who can give you more support to help with the parts of work you enjoy less?
It’s great to love what you do, but it’s even better when your business loves you back and makes your whole life better. Is that what a great partner is supposed to do?
At Moxie, one of the big changes we made in 2018 was to implement the Profit First cash management system to bring clarity to our finances (yes, even bookkeepers need additional support!) and in the first 6 months we were able to increase our profit by 5%, owners equity pay out by 8% and tax savings by 10%. We loved the system so much we became a Profit First Certified firm so we can show you how to get similar results. Give us a call or schedule an appointment if you’d like to know how to get more love back from your business.
Whether you’re learning how to live on the income from a new job, you’ve upsized to a new home, you’re starting a new business or you’re paying unwanted medical bills, life changes can often be accompanied by financial burdens. Unfortunately, with financial burdens, you will often find financial stress as well. The good news is that there are lots of planning and solution-oriented options to try that can help you to make paying bills and reducing debt an automatic thing and less stressful overall.
Rework Your Budget for Current Demands
It’s very likely that you are spending much more than you should be. Reducing financial stress is all about prioritizing. Take a look at what needs to be put first in terms of spending. This would include things like rent and vehicle payments. Then, think about what expenses could be cut, like gym memberships that you haven’t been using. You may be stunned to realize just how much money was going to waste.
Even if you’re being very careful with your spending and saving, you might still find that you’re coming up short. If that’s the case, you should consider taking out a limited short-term loan. Getting into debt may seem counterintuitive, but a short-term loan can give you the leeway you need to get your affairs in order. According to some financial experts, financial stress is often more emotionally costly than what you would pay by getting a loan. During tighter times, you might want the extra funds just to alleviate the stress, anxiety, and worry about your financial situation. Once your affairs are in order, you can pay off the loan and get organized again.
When you hear about people with thousands of dollars in credit card debt, a large part of that comes from interest. Depending on the interest fees and how soon you pay your bills, you could end up paying far more than you initially borrowed. In order to stave off considerable financial stress, you need to avoid paying interest. This can be avoided by paying off your credit card bills in full every month.
If the first thing you think about when you wake up and the last thing you think about as you drift to sleep is money, then you likely are experiencing some financial problems. With all the expenses of modern living, it’s no wonder that people are so preoccupied with their finances. However, you can take steps to navigate through these issues and thereby alleviate the strain.
Reducing unwanted financial stress in your life is done one step at a time. It might seem like you have this giant obstacle in your way and that you can never overcome it. So, the trick is to take on each part of the challenge in ways that can make it far more manageable. With consistent effort, you’ll marvel at just how far you’ve come.
If you find yourself in additional need of help with your bookkeeping and financial situation, make sure to see how Moxie can help!
Every business wants to reach more people with their advertising so that they can sell more products or services, and ultimately make more money. Fortunately, many technologies are now available to help your business increase its reach in the industry. If you want to meet your goals as a company, here are a few powerful technologies you can utilize to help reach a bigger audience.
Website Chat Messaging Lets You Get Bold and Personal
Many companies are adding chat messaging features to their websites to make it easier for customers to contact them with questions or concerns. RubyGarage explains, “having the ability to talk directly to your customers will establish more trust and a closer relationship, which can encourage your customers to remain loyal. Chat messaging is more informal but personal and allows you to have a natural way of communicating with your customers.” They won’t have to be put on hold or wait for a response to their email, which can allow their needs to be met immediately.
Rapid Response to Feedback Ensures Good Experiences
Most companies are always looking for ways to respond quickly to their customers’ inquiries. Responding quickly to feedback will give your customers confidence in you and your brand, as well as customer loyalty. Chatbots make it possible for customers to contact you immediately without having to email or pick up the phone with team members who are available throughout the day. Podium explains that, “according to research, one in three consumers will refuse to patronize a local business if they have been unresponsive for 24 hours, and one in five consumers expects a response within five minutes.” Your quick response time will prove to have a positive impact on your business and allow it to continue to grow.
Creating dynamic customer relations will ultimately offer personalized customer service, convenience, and insight. It also offers customers with a hassle-free process to ensure that they have a better experience and continue to purchase your goods or services.
Visual Channels Keep Your Audience Engaged
Instagram and Pinterest are known as visual channels that can allow you to display images that represent your goods or services. SquareUp recommends, “posting regularly on Instagram if you have a younger audience or on Pinterest if your audience is composed of older adults. Posting compelling images on a regular basis can encourage more traffic to be driven to your website, which can increase your sales.” You can also share images of customers wearing or using your products to help viewers to envision themselves using the items.
Analytics Help You Stay on Track
If you want to be successful as a company, you’ll want to run your analytics and review your data to determine which social media strategies are most effective. You’ll be playing a guessing game if you don’t utilize the data that reveals which posts your audience responds to, such as whether they like specific images or contests that are displayed on your social media platforms.
Targeted Advertisements Make the Most of Your Marketing Budget
Using targeted advertisements is one of the best ways to stand out in the industry and reach more people instead of having your commercial or ad blend in and go unnoticed. Many people ignore advertisements that are in magazines or on television, which makes it necessary to use targeted ads that make the most of your money and prevent you from wasting your funds. Art+Marketing explains, “targeted ads are tailored to appeal to potential customers based on their demographic information, so you can feel confident that the information you’re communicating is likely to be helpful and useful for each person. That being said, some companies have come under public fire because of their fear that companies are taking their personal information and using it against them.” Remain strategic with how your ads are used and when they’re broadcast to ensure that they’re effective and catch the attention of your target audience.
There are many ways to reach a bigger audience and increase your sales as a business so that you can continue to succeed and grow. By implementing specific strategies and using certain tools, you can expand your business’ growth and increase your profits over time.
Whether it’s professional consulting, financial bookkeeping, or executive mentoring or guidance, Moxie Business is here for you and your company.