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.
Ways to run your business if you can’t open your premises
The COVID-19 pandemic has proven challenging for many small business owners. It’s difficult to run your business remotely, especially if you’re not set up to do so. If you run a business that requires customers or clients to come to you, you might be very concerned about how you can continue to operate without opening your premises.
Opening the books - should you share your business' financial performance with employees?
There are two schools of thought when it comes to “open book management” – the decision to increase transparency by sharing your company’s financials with your employees.
Why hiring a bookkeeper is a great investment
Discover why hiring a bookkeeper is a smart investment for small businesses. Save time, prevent errors, get expert financial advice, and ensure you get paid.
Three classic business mistakes and how to avoid them
Even the best entrepreneurs make mistakes. In fact, most would advocate that you need to make a few mistakes to learn and grow. So it’s important not to let those missteps stop you from following your dream of running your own business.
The common time waster that stops your business from growing
Being a small business owner can be fantastic. You get to be involved in every aspect of your business, from marketing to event planning, from sales to employee development. Being involved in so many areas of your business saves you from boredom and allows you to use skills you might not have known you had.
Here's why you should be using two factor authentication
For small business owners, the risk of data breaches and fraud is high, so taking all the necessary steps to protect your sensitive data is a must.
Unfortunately for many entrepreneurs, the decision to increase their company’s data protection comes too late – after they’ve been victimized by a malicious hacker.
Separating Personal and Business Expenses
There are some things in life that go together well and others that definitely do not. Business and personal finances are in the category of items that should not be mixed.
D to the Power of 4 - Four Steps to Better Time Management
Time management skills are increasingly important in a world where people seem to rush headlong from one crisis to another. Add in the effect of social media and addictive computer games that can be accessed from anywhere at any time and it's no wonder that some people struggle to fit everything into their days.
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
Bookstores and libraries around the world supply excellent instructional materials. Riding in the car or commuting on the train, you can learn from experts. The bestseller lists at Amazon are fantastic resources.
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.
Email: The productivity killer
Remember when email was new and novel, and everyone thought it would vastly improve communication while freeing up time? It did improve communication on some levels and freed up employee time at first. Now, however, email has become a productivity killer.
Using Smart Goals to Achieve More
As a small business owner, you’re likely always looking for ways to achieve more. Maybe you made a New Year’s resolution about it. You might have resolved to make more money, find more clients, or grow your business. It’s fantastic to have an idea of what you want to do, but how will you know whether or not you’re successful?
Three Reasons to Focus on Fantastic Customer Service
Small business owners know that to find a loyal customer base, they have to stand out from their competitors. One of the best, and easiest, ways to do that is to have outstanding customer service. How you treat your customers reflects your entire business.
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.