Business Discussions

Hi friends, and happy Thursday! or Friday Eve, that makes it sound even better! I've got a question for you? Have you checked out the QuickBooks Resource Center lately? Maybe you haven't even heard about it yet, but it is packed full of helpful articles and, you guessed it, other resources. I was checking it out earlier today and found a great post about time management tips that I thought you all would enjoy. Lets take a look...     To start, time management is the means of dedicating your time to different tasks productively and efficiently. This often involves planning out daily jobs, being sure to at least make a mental note of how long each task will take, and practicing control of your time as you finish each one and move on to the next. Time management skills are important in everyday aspects of life from personal to professional.   Why is time management so important? In short, being efficient with your time overall allows you to be more productive. A

Happy Wednesday, Community! Anyone else feeling the summer slowly slipping away? It feels like I was just planting in my garden for the spring (a moment of silence for my crispy plants in this heat) and here we are with a few weeks until school starts!   As we are finishing up July of this year, there’s a topic that I feel is always worth revisiting. I was watching a show recently, highlighting a business owner who was venturing on to open a new restaurant. When the host talked to his family, they expressed how proud of him they were…but mentioned they wish they had more time with him.     In life, there will always be seasons when your business or new idea takes up a large chunk of your time and thoughts. Sometimes the thrill of a new opportunity is exciting and you want everything to be perfect. People throw around the term “work-life balance” left and right but I want to give you some tangible ideas on how to actually apply this to your life as a business owner. &nbs

Welcome, Welcome, everyone and T.G.I.F! I don't know about you, but I have never been so excited about the weekend. This week has been very rough for me, but I hope yours was way better than mines. Today, I discovered this gem from Thrive Global on how to sharpen your business communication with the power of 3's, and I believe this would be advantageous for your business. Here's what they had to say:   Introduce three OptionsWhen discussing with your team new plans or ways to improve the business, the author mentioned giving them some options to help make a decision. Alexander Graham Bell said it best, " Great discoveries and improvement invariably involve the cooperation of many minds." However, one key point the writer highlight is keeping the choices to a minimum because if there are many options, it can be challenging to achieve a decision.   Repeat it three timesIt is okay to be repetitious or be creative in finding different ways to share what you're saying as long as i

If you are anything like me, you have probably been doing a little "retail therapy" this year to help deal with the stress.   Mostly for me, that has meant a slightly bigger grocery budget, and some extra money thrown at craft supplies to help keep my mind occupied on making things instead of doomscrolling on my phone constantly.     But, I recently had to pay out a decently large sum to deal with some unexpected issues around the house.  I had enough to cover it, (thanks to some not so fun experiences in the past that taught me to be better with my money,)  but it got me thinking about the financial decisions I make every day.    And since I was curious, I asked the team here to share their experiences and learnings.  Keep reading to find out what we wish we had known...   ++++++   @LisaNullar, Community Manager As I mentioned above, I had a few experiences in the past that changed the way I manage my money.  And my pre

Good afternoon everyone, and welcome to the Talk About Your Business Page. Before we get into the discussion, I have a quick question for you today. Have you thought about ways to reduce your expenses this summer? Here are four tips that you can do to help minimize costs.     TelecommuteDepending on the business industry you are in, you may not need to be in the office to handle day-to-day operations. Establish days where you offer staff members an opportunity to telecommute to reduce transportation costs, and you can reduce operations costs.  It is a win-win situation for everyone. Staff members get to change their scenery and foster even more productivity and the company saves some dollars.   Reduce Business TravelsUnless it is absolutely necessary, try to use video conferencing as much as possible. Programs such as Skype, BlueJeans, Zoom, MyMeeting can be excellent resources to do so. Not only are you helping the environment by this, but it also reduces travelin

We started the Community Chatter series as a way of breaking the ice so to speak - we wanted to let you know more about the people working in your community, and we hoped to get to know you all a bit better as well.   Community chatter is a place for everyone to be able to contribute even if you are just starting your small business journey.     But we want to make sure that we are sharing things that are relevant or interesting to you.  If you have a minute or two to fill out the survey below we would be eternally grateful.       Loading…

Ahh, Friday, it's so wonderful to see you! I hope everyone has had a great work week but I hope your weekend is even better! Before you head out for the day I wanted to pass along an article I read from inc.com. It offered so great info about how to overcome objections to sales for your business. Let's take a closer look...   Identify Common ObjectionsAccording to the post, most product or services have anywhere from three to five common rejections. It's important to first know what to look for before focusing on how to avoid them. Here are some common phrases that may be used to decline your sale:   Financial ("It's too expensive ... " or "I don't have the money ... ") Timing issues ("I'm not quite ready to make this purchase ... ") Credibility issues ("I just don't know if you're able to deliver ... ") Lack of urgency ("I just don't feel like I have to do this now ... ") Another selection ("I'm going to buy/have already bought from someone else ... ") Higher auth

Good afternoon, Community, and congratulations! You've made it halfway through another work week! I hope the workflow continues to, well... flow and the rest of the week is a breeze. Today I wanted to talk a little about ideas for blog posts. A lot of people use their social media platforms as a blogs so these would work for that as well! Here are a few ideas to play around with:   Story behind your business nameThis always interests me, especially when it comes to unique small business names. I'm sure there are others out there who would love to hear the thought process or story behind the name of your brand.   Share industry newsWhat's going on in your niche area that others would find interesting? Maybe once a month share a post about the latest trends, techniques, or products that are making an appearance in your work area. To top it off, show how you are going to be incorporating these into your business as well!   What you wish someone told you before [fill in the

Here we go, Community! Another week under our belts and the weekend is looking pretty tempting. I hope you all have had a wonderful week and for those of you in this epic heatwave, hope you’re staying cool.   I have a problem when I’m trying to get work done: Distractions. I start working on one thing, only to remember I need to finish up something else, and then wind up getting neither done. I’m good at starting projects but it gets tricky tying up those loose ends when I’m pulling myself in a bunch of different directions. Working from home has introduced another interesting twist where if I walk by a pile of laundry……you get the idea. As always, I have some help to offer those who experience the same thing. I’m going to introduce you to something called the 25 – 5 rule.   Although this rule is attributed to billionaire Warren Buffet, he has since said he did not come up with this lifehack. But for storytelling’s sake, let’s go with it. The story goes that Buffet

Hey Community friends! Welcome back to the Business Discussion board. While you’re here I wanted to share a little about sales and a few ways to let your customers see the heart behind your business.   Passion and VisionAnswer this, “Why are you doing what you’re doing?” People will buy why you do something over what you do.   StorytellingPotential customers love a good “started from the bottom” story. Share your struggles and how you overcame them.   The ProofHow will people know to trust you? Show them! Make it an easy decision by showing them reviews and testimonials of how your product or service has helped.   Behind The ScenesGiving your customers a behind the scenes view is just another great way to literally show transparency and the hard work and care that’s put into your work.   Problem and SolutionIdentifying your customers problems and offering a solution is one of the best ways to drive sales. It show that you understand what is

Happy Friday, Community! We made it through another week. :)  If there’s one thing we’ve learned this past year it’s that circumstances out of our control can affect our income, in good and bad ways. A new study from Zapier came out recently and stated that 1 in 4 Americans plan to start a side hustle this year. There are many motivations to do this but diversifying your income can be a great move for business owners. Let’s look at a couple reasons starting a side hustle could be something to look into in 2021.     According to their study, passive income is the biggest motivator for people. Having money come in from a source that you aren’t actively putting a lot of time in is great whether you want to save up or spend. You can even put this money back into your business and upgrade equipment or other needs. If this study shows anything, it’s that people are putting on multiple hats in order to beef up their income.   Picking up a side hustle can also help you tes

At one time or another, your employees are going to work more than 40 hours a week. Projects run longer than expected, things that can’t be pushed to the next day need to be done. As an employer your job is to pay your employees on time and accurately and since overtime can be tricky, here’s an overview of what you need to know.   I think the most important question to cover is if employers have to pay out overtime to their employees. The simple answer is yes; all non-exempt employees are entitled to get paid for their overtime and not paying them could result in big consequences like lawsuits, investigations from the Department of Labor, and fines.   There are a few common mistakes that lead to inaccurate calculations in overtime. Here are a few: Inaccurate time keeping – it’s important to have legitimate and correct time tracking for your employees. This protects you from fraudulent claims. Misclassifying employees – Make sure you know what employees qu

Good Afternoon my QuickBooks Community Family! I hope you had a fantastic weekend. I sometimes know that things can become overwhelming throughout the week, and you need at least 10 secs of peace. So I have started doing some morning affirmations to release that negative energy and instill some positive energy daily to be confident and successful. Here are some of my favorite affirmations:   "I am, and always will be, enough." "I have everything I need to face any obstacles that come." "I am focused on my goals and feel passionate about my work." "I am surrounded by supportive, positive people who believe in me and want to see me succeed."  "I can never fail, for everything that happens contributes to me being better." "I am energetic and enthusiastic. Confidence is my second nature." "Mу аbіlіtу tо соnquеr mу сhаllеngеѕ іѕ lіmіtlеѕѕ; mу роtеntіаl tо succeed іѕ іnfіnіtе.” “Today, I аbаndоn mу оld hаbіtѕ аnd take up nеw, mоrе роѕіtіvе оnеѕ.” "I will be open-minded and always

I know, you are probably asking yourself what cartoons or kid shows have to do with accounting and finance.  And I could try and stretch and play 6 degrees of QuickBooks, but honestly, sometimes you just want a fun topic to discuss with people online.   These Community Chatter posts always have been a way to get people talking in the discussions forum; and hopefully, even if you aren't completely comfortable commenting, you feel like you are getting to know us a little bit better.     So with that out of the way... why cartoons?  Because the start of summer is such an iconic moment in so many people's lives.  For me, it brings to mind memories of blazing hot sand and going on day-long bike rides with my friends.  But every Saturday you can bet I was up early to get in a little bit of tv before mom kicked us outside.   With that in mind, I was curious to see what everyone else watched when they were younger.      ++++

Hi! I tried to renew my subscription, paid for an entire year and it wasn’t applied to my current company but instead created a new company!! How do I fix?! Who do I need to contact?! Thanks

“What's in a name? That which we call a rose by any other name would smell as sweet” -Shakespeare   Guess what? You did it! You made it through another work week and it’s finally Friday. Today I want to share with you an article I found from inc.com that’s a little different and a little fun. It covers mistakes to avoid when it comes to naming your business.   “Would Google still be Google if the founders had stuck with their nickname for the business and called their company BackRub?…And which would you prefer, a Pepsi or a nice cold can of Brad's Drink?”   Here are a few points to think about when it comes to naming your business: Do your legal research When asked, many entrepreneurs relayed this piece of advice first; don’t set your heart on a name until you know it’s not already taken. We live in a world full of trademarks so make sure you have a brand new one before you go official.   Check digital presence Another factor to think about whe

Hello everyone! I hope you guys are having a productive day and achieving all that you have set out to do. I have been looking for ways to improve my communication, but in particular active listening. At times I tend to zone out of conversations and not make an effort to fully understand the message because I'm distracted by something else. Even M.Scott Peck said, "You cannot truly listen to anyone and do anything else at the same time." So here are some stages of active listening I have been applying, which can be helpful to you in business communications.     ReceivingIn this step, you want to be able to isolate all distractions, even if it means putting your phone on silent for a few minutes or closing down your laptop screen to focus on what the person is saying.   UnderstandingAt this stage, you want to be careful not to assign your perception of the message. Instead, focus on what the person is experiencing and sharing.    RememberingFor me, this is one

It's Friday, friends! Welcome back to the Business Discussion space. I've shared several articles with you that cover many topics. One of the most popular themes deals with starting your business. Well what happens after you've started and grown your business? Today I want to share an article from gildshire.com that discusses the next step - signs your business is ready to expand. Here's what they had to say:   Your Industry is GrowingWhether it's food, retail, technology, whatever your industry may be, after your business has seen some success, take a look at the industry as a whole. As the article mentions, if the industry is taking off and there are limited companies within your field, and especially in your local area, it may be the perfect time to expand. "By capitalizing on the demand for your product within the industry, you are almost guaranteed success with your growth."   Your Team Has Holes to FillSpeaking of taking a look at things, look at your team. Ar

Hey Community, and happy Thursday to you! It's never a bad idea to get back to basics from time to time. For example, I found a great write-up in the QuickBooks Resource Center that covers everything you need to know about invoices. Let's take a look, shall we?     Definitions are always a good place to start. An invoice is "a document used to itemize and record a transaction between a vendor and a buyer."   What is the purpose of an invoice?Typically this document is used as a means for the vendor to show the buyer how much they owe them. Some customers may owe a business for a few different product and/or services which means they have open invoices. Businesses can view open invoices to monitor their cash flow and have a good prediction of how much money they can expect to be receiving. In addition to outstanding balance info, invoices also keep track of sell dates and how much they business charges their customers.   Is an invoice a receipt?While very similar in

Happy Wednesday, and welcome back to another segment of Talk About Your Business. Sooooo..I have recently done a class, where we were discussing exemplary leadership practices, as developed by Kouzes and Posner, which include modeling the way, inspiring a shared vision, challenging the process, enabling others to act, and encouraging the heart. I found that this helps me, and I thought it would be beneficial to you. Let's see what each one represents, shall we?     Model the wayExemplary leaders need to be transparent with the company values and setting an example for others through actions. For example, instead of giving employees a list of rules to follow, please do not make it appear as if it is a different requirement for management. A leader needs to exhibit a unified front and follow the same code and values.   Inspire a shared visionEvery business usually starts with a vision. However, to convey this message about the future of the company to others can be a chal

Everyone loves it when there is a little bit of money left over in the budget at the end of the month, or when that tax refund/work bonus/other unaccounted for money shows up... but what do you do when you get it?  I asked the team how they handled financial windfalls, and as you might expect, the answers are as varied as can be.     Here is what everyone had to say:    ++++++   From Morgan: What to do with a windfall? Hmm. I’d usually have a harder time answering that question but now that my husband and I have become homeowners, the answer is easy. Leftover budget money and tax refunds are going to home renovations. Our house was built in 1977 and I don’t think anything had been updated since (I never want to see floral wallpaper again). We’re currently working on removing all the wallpaper to paint, tearing up carpet and replacing it with hardwood floors, and several other updates. We like to build our savings account but currently the majority of

Hey, Community and happy Friday! June is here and it's almost officially summer. With that, you may be looking to start a summer side hustle or maybe even a full time business. I found an article on inc.com that outlines some great tips for your warm weather endeavor.   Set a price to win customersOne summer, many years ago, my friend and I sat up a lemonade stand in my front yard and charged 25 cents per cup. I think we made around $40 and thought we had struck gold. That is quite a bit of lemonade though. The point is you couldn't beat the price. Beyond a lemonade stand, you're guaranteed to make more sales, more often, with a price that can't be passed up. The young entrepreneur mentioned in the article started a dog-walking business and offers half off for first time customers so they can try the service at a cheaper price. This is an excellent method to bring customers in, then impress them with your work so they'll keep coming back.   Start marketing earlySpea

Hey, Community! Here we have another wonderful Wednesday to visit the Business Discussion page. Today I want to talk about being creative, or getting in the zone to create. The trait of being creative can be useful in both your work and personal life. If you're like me, you may have a lot on your plate and find it difficult to channel some creativity. Here are a few ways to change the vibe and help the ideas flow:   Clean up your work spaceThis is a huge one for me personally. I absolutely cannot focus on anything in a messy area (it drives me insane). Work or play, whatever the space may be, get it tidy before you put on your thinking cap.   Get outsideGoing outside for some fresh air is a great way to wake up your brain. A few minutes spent outdoors will help you disconnect from stress and regain focus.   HydrateDehydration can have a lot of negative effects on the body, one of those being brain fog. Making sure you're well hydrated allows your thinker to fire on all c

   1. Send Invoice          2. Receive Payment into       3. Bank Deposit  "Undeposited funds”      The Undeposited Funds account in QuickBooks Online serves a special function – it’s a special temporary account that QuickBooks uses to hold payments received from invoices before you deposit them into in the bank. This workflow is especially important for QuickBooks users who don't process transactions through QuickBooks Payments and import payment data from external processing services.     Why should I use the Undeposited Funds Account? The Undeposited Funds Account is an internal “other current asset account” created by QuickBooks to hold funds until you are ready to deposit them. Imagine the Undeposited Funds account as the lockbox or safe  (or drawer) where you keep payments until you are ready to take them to the bank.   The Undeposited Funds account serves as the default

It's Friday and welcome back to another Business Discussion! I hope all is well and you're excited about the weekend. I know I am especially since my sister will be graduating today. Yay! Class of 2021!  Today, I have found a helpful article dealing with time management tips for Small Business Entrepreneurs by RTE. Here's what they had to say:   Audit your working week.Honestly, I never thought about this one. I mean, it can be time-consuming at first when you have to record everything you do in a day. However, on the flip side, you can see exactly where your time goes and ways to improve or remove distractions that could hinder your productivity.   Put a monetary value on your time.This is another neat point that interested me. The writer suggested making a list of activities that you can profit from and a list of what you spend time on. Once you put those lists together, it is guaranteed that there are inconsistencies, and they don't align. I decided to test this theor