What is an authentic leader? Authenticity is an area where many business owners or people in positions of power tend to struggle. Being an authentic leader means you maintain your values and sense of self while running your company and motivating your employees. When asked for examples of authentic leaders, does anyone come to mind right away? While it may not be hard to define authenticity, which […]
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Starting your own business or trying to grow the one you have? We all know the risks of taking on a large financial project, especially one such as starting a business from the ground up. Even the most successful entrepreneurs seek advice or tips from coaches, masterminds, and other experts. Risk and reward are the common strategies entrepreneurs have to balance to become successful as they share their new ideas, […]
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Several years ago, my dentist’s practice was a victim of fraud. It was an inside job. An employee embezzled more than $2 million. After the incident, the owner, Roger Abbott, said, “It’s my responsibility to put the systems in place so I don’t tempt anyone again.” Bingo! Read that first part again. It’s my responsibility as the owner to put systems in place. You can put systems in place to minimize the […]
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Debit or credit or both? While we’re used to being asked this question in our personal lives, it’s important to consider this question in terms of our businesses as well. There are pros and cons to each option. I want you to be equipped with a full understanding of each option as it pertains to your business so you can make the best decision for you. First things first, […]
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First, let’s get the terms out of the way so we are all on the same page. Income Statement = P&L statement = Profit and Loss Statement These are all different names for the same thing. From here on out, I will use the term P&L to keep things simple and brief. Many small business owners don’t know how to read their P&L statements. If you fall […]
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