Join Jim Stice for an in-depth discussion in this video Hiring a bookkeeper, part of Finance Essentials for Small Business.
- We have always loved reading the James Herriot stories.…- Yes, we have.…For those of you who've never read them,…the James Herriot stories are first person accounts…of the life of a country veterinarian…in the hills of Yorkshire in England.…- James and his volatile but charming partner Siegfried…run the veterinary practice in a pretty loose fashion.…They take good care of their clients, the animals,…but their bookkeeping and cash management practices…are horrible.…- The following is extracted from James Herriot's account…of Siegfried's efforts to hire…the business' first bookkeeper…This comes from the book, "All Creatures Great and Small."…- Miss Harbottle, the prospective bookkeeper,…came into the business office and "paused at the desk,…"which was heaped high with incoming and outgoing bills…"with here and there are stray boxes…"of pills and tubes of cow udder ointment."…- "Stirring distastefully among the mess,…"she extracted the dog-eared old ledger…"and held it up between finger and thumb.…
"'What is this?'"…
- Describe the most common reason small businesses fail.
- Identify two reasons why your business plan needs to budget cash inflows and outflows for the first six months of your business’s operation.
- Write the formula to forecast cash flow for the first four months of your small business.
- Explain the first step you should take if your new small business is not making the profit you anticipated.
- Identify the most important thing to keep in mind if you are considering faster growth for your small business.