The MATAX Blog: Ops and Accounting Insights for Founders
Actionable advice, operational playbooks, and strategic deep dives to help you scale your business without the chaos.
8 Ways to Manage People Better
Good people management comes through experience. Courses will teach you the theories, but there is no substitute for day-to-day practice managing staff and their issues.
Lessons from three pricing stories
Times were tough, so John decided he had to drop his prices below his competitors. The results seemed gratifying. Business picked up quickly and when John looked round his shop he could see his sales staff were always busy with customers.
5 Ways to Save Money for your Business
Looking for simple ways to cut costs? These tips will help you make a noticeable difference to your bottom line.
Growth hacks for your small business
Deciding on an online marketing plan can be overwhelming for small business owners looking for affordable ways to nurture steady, sustainable growth. With time in short supply, the key is to find one or two growth strategies that will get results at minimal cost.
Five Best Selling Books on Business and Money
Discover the top five best-selling books on business and money currently on Amazon's list. Learn from experts and sharpen your skills with invaluable advice.
Benefits of money mindfulness
If you’re like most people you’ve probably gone for periods of time without really thinking about how you spent your money. Maybe you even avoided looking at your bank statement so you wouldn’t see how much money you spent and how little you saved.
Three ways to speed up invoicing
Everyone likes making money, especially small business owners. Invoicing, however, is typically one of the tasks that small business owners like the least.
Mastering Email Management for Maximum Productivity
Master email management for productivity. Keep employees focused by setting guidelines, limiting attention residue, and finding effective communication methods.
Transform Resolutions into Action with SMART Goals
Transform resolutions into action with SMART goals. Set Specific, Measurable, Achievable, Realistic, and Timely goals for success. Start planning today!
How to set your small business payment terms
Healthy cash flow is important for any business, but particularly for small business owners in those first few “make it or break it” years.
Business owners who set clear payment terms with their customers, invoice quickly, and follow up on late payment can avoid the dreaded cash flow crunch that can quickly put them out of business.
These simple guidelines for setting payment terms can help you get paid quickly and maintain a steady cash flow.
Why Bookkeeping is Crucial to Your Success
Keeping track of sales, earnings, expenses, and purchases is fundamental to the overall health and sustainability of your business. Effective bookkeeping produces the data you need to evaluate your current practices, anticipate challenges, and set attainable future goals.
But despite their proven importance, many business owners dread and avoid accounting tasks. In fact, 40% of surveyed entrepreneurs claim that bookkeeping is one the worst parts of running a business!
Wondering if it’s really worth the aggravation?
Here are four reminders of how effective bookkeeping is the cornerstone of small business success.
4 questions you should ask your accountant
Ideally, you and your accountant are more than just “adviser” and “client”.
With your combined skills, expertise, and shared mission to support a thriving business, you’re more like strategic partners.
The key to achieving success in any partnership is, of course, strong communication. At your next meeting, be sure to ask your accountant these four important questions.
Signs it’s time to upgrade systems
Most small business owners can’t afford to think small. They always need to keep their mind on growth strategies to help them achieve long-term profitability.
But becoming profitable in the first place often requires business owners to work long hours on a shoe-string budget. They don’t always have time to implement systems that will support them when they’re ready to scale. It’s not uncommon for entrepreneurs to use free or low-cost software solutions that can get them up and running, but hold them back as their needs evolve.
Read on to learn if it’s time to upgrade your current systems to support your small business as it grows – and what to look for.
Three Ways an Accountant Can Save You Money
Many small business owners think they’re saving money by handling their financials themselves. While it’s a real asset to learn bookkeeping basics, cash flow management and your tax obligations, hiring an accountant to oversee your finances has many benefits.
Ways To Keep Customer Data Secure
Cyber crime is a serious concern for business owners. Recently IBM Chair, CEO, and President, Ginni Rometty, called it “the greatest threat to every company in the world”. According to Juniper Research, by 2019 cyber crime will cost businesses a staggering $2 trillion.
It’s impossible to put a dollar value on what your customer data is worth – or the cost to your business should sensitive data be compromised by theft or loss. For many small companies, a security breach could simply mean the end of the business.
If you don’t already have a data security plan in place, these tips will help you take steps to prevent a devastating loss.
Use your Accounting Software to Boost Sales
If you think accounting software is just for tracking expenses and generating financial reports, you’re losing out on an opportunity to improve your bottom line. By taking advantage of insights provided by your software solution, you’ll benefit from a more informed approach to marketing and customer service – and by making the most of all the ways your software can improve productivity you can take meaningful action to increase profits. Here’s how.
Three reasons why you need small business insurance
Discover the importance of small business insurance in protecting your assets, income, and reputation. Learn why having the right coverage is essential.
9 reasons to switch to cloud computing
Discover the top 9 reasons why small businesses should switch to cloud computing. Save money, time, and improve security with this innovative solution.
Why Keep Your Data in the Cloud?
Cloud computing is quickly moving from an obscure concept to an everyday reality for small businesses all over the world.
A 2015 survey of small business owners found that 52% had already adopted some form of cloud-based data storage; however, a general lack of awareness regarding the logistics and advantages of cloud computing has made others a bit more resistant.
The truth is, there are several very practical benefits to moving your data into the cloud, including reducing operating costs and boosting efficiency. Here are three more ways cloud computing can help your small business run even better.
How to learn from failure in business
Ask any successful entrepreneur about their path to greatness and you’ll get the same answer: failure is an inevitable part of the journey.
It took Thomas Edison 1,000 failed attempts before he finally invented the light bulb.
Tim Ferris received 25 rejections before his bestselling book, “The 4 Hour Workweek” was finally published and sold millions of copies.
It’s a fact that 20% of businesses fail in their first year – and many fold before their fifth.
The truth is, building a successful company is typically a very long game. Not every idea is a winner; not every decision yields success. But you can learn from experience, gaining wisdom as you nurture resilience – key ingredients, along with hard work and a pinch of luck, that eventually lead to victory.
Here’s how to stay in the game long enough to win, and make the most of failure along the way.