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Setting Your Business Apart from Your Competitors

Setting Your Business Apart from Your Competitors

September 22nd, 2017 | Devine Consulting LLC | Bookkeeping | Accounting

Building a bookkeeping firm, or any firm for that matter, is a long and bumpy road to say the least. There are going to be road blocks along the way that are meant to slow you down, but finding your way around them will show your drive and passion as a business owner. It's taken us a long time to get where we are and we still have a long way to go, but we're moving in the right direction and that is key. Potential clients have plenty of options to choose from, so you don't wat to fall flat when it comes to showcasing your business. Make them remember you.

This may sound cliché, but at Devine Consulting we show our clients that we are real people with real emotions and are as authentic as can be. Your individuality and passion for your business will resonate much more with a potential client than telling them exactly what they want to hear. Don't be worried about landing every client you are fortunate enough to meet with because, honestly, it's impossible to please everyone. There comes a point where you have to take a step back and ask yourself what is best for you and your business. This might be tough for new buiness owners because it seems as though potentials are few and far between when first opening up, but it will be beneficial in the long run. Honestly, landing every client isn't realistic.

Show the world your passion, what you offer, and why it is you do what you do. For example, our passion and focus is to provide business owners with valuable and cost-effective bookkeeping and accounting services so business owners can focus on expanding their businesses. Being a small business ourselves allows us to empathize on just how taxing and time consuming it is to follow your passion and start up your own buisness. That's exactly why we want to alleviate the burden of tedious back office work so the business owner can focus on creating and building their brand. Once people see the passion and excitement you have for your business, they will want to buy what you're selling. Keeping in constant contact and maintaining a supportive relationship with clients will make them clients for life, or at least a very long time.

It is important that you and your firm are always growing and are invested in keeping up-to-date with what is happening in the industry. As the service provider, it is our responsibility to have the client's best interest at heart and commit to helping them grow their business by providing them with the best tools out there. This brings me back to being honest with clients and potentials. We could sell them the most expensive software on the market with a plethora of features just to make a pretty penny, but that's not how we operate, not to mention it's morally wrong. Every client is unique. We like to listen to the client's needs and really get a feel for their expectations so we can implement the software best fit for their business.

Staying true to your values and really figuring out what it is that sets your business apart from your competitors will help you when trying to land that next client and build your brand. If the potential can see you truly have their best interest in mind and feels as though you are willing to work with them, the deal is sealed. Figure out what makes you unique and stick to it. Good things will follow.

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Featured

Keeping Business and Personal Finances Separate

Keeping Business and Personal Finances Separate

May 17, 2017 | Devine Consulting LLC | Bookkeeping | Accounting

You've taken the leap of faith and finally decided to turn your passion into profit. You've spent countless hours creating your brand that sets you apart from your competitors and met with your trusted team of professionals to help your startup business hit the ground running. You're ready for that cash to start flowing! Wait, but where is it going to flow? Your personal account? Negative. While you, the owner, are your business, your finances need to be kept separate.

As bookkeepers, it is far too often we see business owner's personal and business finances intertwined. While your personal credit score may have landed you that business loan, it is imperative that from here on out you create a clear boundary between your personal and business finances and maintain records of where your company’s money is going. Not only is it the law, but it will make your life and your CPA's life one hundred times easier come tax time. As your business grows, this is going to get more difficult, but here are some ways to alleviate the headache.

Open a business checking account - This should be number one on your list. Do your research on what kind of business plans banks offer and go for the one that seems right for your business. We suggest opening a business checking account with the same bank you use for your personal finances. This will come in handy should you get in a bind and need to transfer money from one account to the other. Your CPA will also thank you. Trying to wrap your head around which transactions are personal and which are business related is no fun.

Get a business credit card - This will help build your businesses line of credit which will come in handy with vendors and such in the long run. And again, it will help with your record keeping and come in handy should you ever get audited.

Write yourself a paycheck - You're your own boss. Add yourself to your company’s payroll and treat your pay check as you would if you were working for somebody else. If you're running out of funds, tighten the belt until the next payday. Your business checking account should be off limits for personal use.

Establish your business structure - Sit down with your trusted team of advisors and decide whether to structure your business as an Corporation or LLC. Treating your business as its own entity will come in handy should things go south and your business ends up being sued. This protects you, personally, from any business debts and liabilities.

Track your expenses - Last, but certainly not least, track your expenses. Make sure you have a clear record of all purchases made with your business checking account. Setting up an accounting software such as QuickBooks is a necessity. If you need to buy business and personal items at the same time, ring them up as separate transactions. 

At times separating your finances can seem like a pain, but it is worth it in the long run. You do not want to find yourself in an audit with a mess of your personal and business finances and you always want to keep your accountant/bookkeeper in the loop. We want your business to thrive and will do all that we can to ensure success. At Devine Consulting, your success is our business. Give us a call at (281) 545-4000 for a free quote, or you can tell us about your business financials here.

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Are you ready for year end?

Devine Consulting LLC - Year End

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Are you ready for the end of 2016?


This year is quickly coming to a close with major holidays shoved into the mix of things.  Will your company be ready to file taxes for 2016 or will there be an extension filed?

Bank, credit card, loan and line of credit accounts should all be reconciled throughout the whole year to ensure that all expenses and income are properly accounted for.  This will also ensure that there are not any erroneous or duplicate entries.

The balance sheet and profit and loss should also be reviewed to ensure that items are categorized correctly.  For instance, some items purchased may actually be an asset to the company and not an expense.

But don't stress, we can help with all of this!  Devine Consulting can provide some training and/or guidance to ensure you are on the right track.  We also can help by doing specific tasks so that you don't have to.  Contact us for more information!

Enjoy your holidays with less stress!

Exciting News:
Devine Consulting is a QuickBooks Certified ProAdvisor!  We have worked dilgently to ensure we can provide the best level of service for our clients.

Holiday Schedule:
Devine Consulting will be closed in observance of Thanksgiving on Thursday, November 24th and Friday, November 25th.

In Case You Missed It:
Check out our blog about what bookkeeping options there are for small business owners! 



 

 

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accounting@devineconsultingllc.com
Contact Us: 
281-545-4000

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