Tag: Baton Rouge Financial Consultant

Are you ready to strike out on your own and start your own business? Whether you lost your job, see an opportunity or are just following a long-held dream of entrepreneurship, there is plenty to explore. Starting a business can be challenging even in the best of times, but it can be rewarding if you do it with care and attention to financial details.

Fill a niche. If you haven’t yet decided what kind of business to start, think about services that help people who are spending more time at home or helping those who have to work on location. The U.S. Chamber of Commerce has a few suggestions: landscaping and lawn care companies; cleaning services; delivery or errand-running; dog-walking, mobile grooming, and pet insurance; online tutoring and childcare. Many other jobs can be done remotely, such as fitness training, and counseling.

Create a long-term business plan. Create a plan for success that is as future-proof as possible. Learn how to negotiate with vendors, learn new skills, and become adaptable to change. Examine the pros and cons of loans and grants. With an alphabet soup of programs available and an ever-changing business landscape, it is a wise idea to contact a CPA with small business expertise.

Talk yourself into success. Don’t be dissuaded from starting a business because of economic outlook or what you might see on the news. Change the channel and focus on you and your plan. Seek advice from trusted peers and gain valuable financial advice from an experienced business accountant.

Budget carefully. If you are working solo, it is critical to not spend more than you are bringing in. It sounds logical enough, but it is easy to forget how quickly everyday life and business expenses add up. Decide how much you will need for work supplies in a month. Keep meticulous track of the many costs you have, such as subscriptions, rent, car payments, food, and entertainment. Separate personal from business. Don’t forget to include transportation expenses like tolls, gas, parking, and mass transit fares.

Build a nest egg. Budgeting properly will allow you to build up your reserves to help you weather uncertain times. The time-honored advice of keeping nine to 12 months of living expenses in reserve is critical today. By watching your balance sheet carefully, and tightening spending, it is possible to build a nest egg while starting a business.

A certified public accountant (CPA) can guide fledgling businesses through the murkiest of financial issues. Tax laws are always changing, and mistakes in DIY finances can cost you. By hiring an experienced Baton Rouge business CPA, you gain access to experience and acumen that will serve to make your business grow. 

As the owner of a business, you are responsible for its success, including profits. It is a big part of what makes being a business owner so fulfilling. Whether you operate solo or are part of a group of investors, all business leaders need to invest the time to make sure their businesses operate in the black. 

It is critical to keep a firm grasp on things like overhead, revenue, and marketing strategies. Here are some of the most important tips to boost business profits.  

Analyze Your Expenses 

Make this a top priority in your quest to widen profit margins. Leaders should produce a detailed list of their monthly expenses. This includes equipment, employee salaries, liability insurance, and rental costs or property taxes. Analyze this list regularly to find areas in which you could cut expenses. 

Look for anything that is not strictly necessary or items on which your business spends an excessive amount. You might be able to reduce your overhead by cutting down on specific supplies, finding savvy ways to limit your insurance payments, or even writing off more expenses to reduce your taxes. 

There are myriad routes to pulling down your overhead. They all begin with patiently poring over your expenses. If you don’t have the time, retaining a certified public accountant who specializes in your type of business is a great way to make sure this work is done accurately and effectively. 

Determine Growth Objectives 

If you don’t have specific goals in mind, you are likely to become complacent. Business will stagnate and profits will suffer. CEOs who want their companies to be profitable should map out where they want their enterprise to be in three months, six months, a year, and five years. It is important to have a clear sense of the number of clients you want to gain within each time frame and start developing strategies that get you there.

Utilize Online Marketing

Most people looking for your business will find you online. In fact, statistics show that 93 percent of Americans use internet search engines to find local businesses. That includes you. So how can you gain a foothold in these searches and put your business’s website in front of as many eyes as possible? The answer is online marketing; more specifically, search engine optimization (SEO) marketing. This type of marketing has one simple, powerful objective: get a business’s website and content to rank as high on search engines as possible. 

In today’s marketplace, where Google, Yahoo!, Amazon, and Bing dominate our searches, this is a critical step in boosting the bottom line. For expert help in these and other ways to make your enterprise as profitable as possible, contact our Financial Consultants in Baton Rouge today. We have deep expertise in helping businesses generate new levels of success.

Apple Guerin Company LLC
Phone: (255) 767-1020
Url: https://appleguerin.com/
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808

If you own a business or are in a partnership, you place a high priority on making sure your business is successful. That means being smart with money: looking for ways to grow revenue, trim overhead, maximize business deductions, and minimize your tax liability. A certified public accountant, or CPA, can help your business achieve these goals so you can focus on running your operation.

Hire a Financial Specialist

Just as you specialize in your field, a business CPA specializes in corporate finance. The best business CPAs have an insider’s grasp of your industry, including typical expenses, trends, and the best ways to lower a business’s tax burden. They also understand what new equipment or inventory is delivering the best return on investment, and how to save money every year from the depreciation of assets unique to your field.

Get a Grip on Your Firm’s Financial Health

When most people think of a CPA, they think of tax matters. The benefits of partnering with the right certified public accountant go far beyond getting an advantageous grip on your business’s taxes; they can also apply their financial acumen to your overall business model. An experienced CPA will be able to look at a business’s financial reports and determine how it can reduce its expenses and increase profits. These specialized accountants are trained to recognize oversights and areas of inefficiency specific to an industry.

Given just a few months to analyze your business finances, a CPA will be able to make insightful, actionable suggestions that make an immediate difference.

The Best Way to Track Metrics and Benchmarks

Benchmarking is the practice of comparing a business’s performance metrics with both competitors and the highest industry standards. While a business in Ohio may have no idea how their business compares with firms in California, Texas, or New York, a good CPA does. These analysts are thoroughly versed in each industry’s key performance indicators (KPIs). These include metrics like client loads, profit margins, and the percentage of active clients.

Some business leaders stay laser-focused on the needs of their customers and day-to-day operations; they may never stop to consider evaluating benchmarks and KPIs; yet these are powerful ways to frame and understand your business.

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CPAs can leverage those tools better than anyone. Our business CPA firm in Baton Rouge has deep experience in many sectors. We offer you expert guidance on benchmarks unique to your industry, as well as tax strategies, wealth building, and much more. Contact Apple Guerin today and learn more about the many ways a CPA can help your business thrive.

Apple Guerin Company LLC
Phone: (255) 767-1020
Url: https://appleguerin.com/
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808

Most businesses experience trends of increasing and decreasing revenues. When new business slows and income begins to dip, many business owners react by cutting back on the item in their budget they think is most expendable: Marketing. Unfortunately, this is usually the wrong step to take.

When you cut your marketing budget, it follows that your revenue will drop, too. You are effectively slamming the door on new business. For many businesses, competition is fierce, and they cannot afford to fade into the background. For the rare few with little to no competition, they need to let people know they are out there, what they offer and anything new they are adding to their product or service line. If you want to add e-commerce into the mix, you need to reach people in your niche. 

Today’s businesses cannot survive through word-of-mouth referrals alone. Your business needs to attract new clients or customers constantly — not just in the weeks following a postcard blast or mass email. Scattershot approaches are a waste of money. You must stay visible.

In addition to attracting new customers or clients, you need to engage and maintain the loyalty of your existing clients.It is important to keep them looped into any specials you want to run, new services you offer, and the latest developments in your field. A multi-pronged social media campaign or email blast can be excellent ways to keep people informed on a timely basis.

Consistent, effective marketing helps you achieve both.

When your marketing budget increases, stronger revenue follows. Several factors influence how much your business should be allocating to marketing, including these:

• Are you a new business? You may need to invest more until you have established a client base.
• Is your business established and you want to maintain growth? Compare your current rate of new client acquisition to the number lost annually to determine how your current budget is doing.
• Is business stagnant or decreasing? Consider investing an additional 5 to 10 percent above your current marketing budget, at least until the trend reverses.
• How competitive is your local market? Higher competition requires greater investment to grow business.

You are likely familiar with marketing trends and may have done your own outreach, but is it the best use of your time. Business owners wear many hats, and the best use of their time is running day to day operations. Turn it over to an experienced team of marketers who understand your business.

For customized advice regarding your marketing budget and business growth, contact Apple Guerin Company today.

Apple Guerin Company LLC
Phone: (255) 767-1020
Url: https://appleguerin.com/
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808

When it comes to tax time, having a professional CPA on your team is important to protecting your investment, and ensuring the health and longevity of your practice. Before you consider taking tax shortcuts, stop and consider the potential consequences. Here are a few of the many reasons your business should work with a professional accountant.

Accountants understand tax code. Tax code is not only complicated; it changes frequently. Interpreting and staying up to date on the current codes is a full-time job. As a business owner, you are busy enough. You likely wear a lot of hats and don’t have the time to stay abreast of shifts in tax law. Accounting software may not help you take all the deductions that you are owed. Hiring an accountant at Apple Guerin Company is a wise investment. It can offer you with extra peace of mind every April 15.

Accountants know how to get you more deductions. Everyone wants to maximize their deductions, but only a professional financial expert can get you everything to which you are legally entitled. Don’t leave money on the table and don’t overpay the government. This is exceptionally important advice for small businesses. Partner with an experienced small business accountancy firm to offer advice, analysis and help with preparing quarterly estimates.

Accountants minimize your risk. Taxes are one area in which you do not want to cut corners. One innocent mistake can unleash an audit and cause potential trouble. If you run into such a scenario, you could wind up paying far more than you would have if you worked with a professional from the beginning. If your practice is an S Corporation, penalties bleed into your personal taxes and can have damaging repercussions on your family’s finances. Working with a CPA throughout the year offers protection.

Your accountant can ensure that you have your tax-related paperwork in order year-round. Accurate documentation ensures you will receive all allowable deductions, and it will minimize errors. Don’t jeopardize your dreams by cutting corners on one of the most important tasks of every year. Work with an experienced CPA at Apple Guerin Company and allow yourself the peace of mind to protect what you’ve built.

Choosing the right accounting firm for you is critical. You want one that puts your interests first, helps you with long-term strategy, and offers analysis and advice – and you want a partner with solid knowledge and an understanding of your sector. We are that accounting firm. Call our CPA office in Baton Rouge today and learn how Apple Guerin Company can help you.

Apple Guerin Company LLC
Phone: (255) 767-1020
Url: https://appleguerin.com/
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808

Have you ever wondered how you can maximize your business’s return on services and recoup some of your capital? Our CPA provides strategies to help boost your business’s profitability.

Optimize Your Business

By reviewing your production reports and ensuring procedures are in place can help save time and money. If a service is charged incorrectly, it can increase costs over the course of a year.

If possible, adding high-dollar services to your business can greatly boost your profit. Training team members  in various services provided can also maximize your business’s profitability.

Build a Great Team

In order to recruit and hire the best possible candidates, it is worth paying above average wages to experienced people in the field. This avoids employee turnover, which can become costly. A friendly and knowledgeable team will also help with client retention rates.  

Facilities and Equipment

If possible, purchase all your office equipment, rather than leasing it. This avoids a number of issues, including higher retail costs, interest payments, hidden fees, and lease-breaking penalties. Strive to maximize your office space. If your current client volume doesn’t allow you to use all your offices, consider subletting either your primary or secondary office space.

There are a variety of ways to boost profits and cut costs while owning a business. To start, think about your services, team, and office space. Opening a business can be costly and leave many owners in debt, especially after finishing school. Contact Apple Guerin Company of accountants today for help on managing your budget and ways to maximize your return on investment.

Apple Guerin Company LLC
Phone: (255) 767-1020
Url: https://appleguerin.com/
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808

Hiring a CPA (certified public accountant) for your business not only provides greater financial transparency, but an excellent resource in making informed business decisions. If you’re considering hiring a CPA, it’s important to know what you’re looking for in a candidate. The following are important steps in helping determine the ideal CPA for you.

Determine Your Needs

Before you start looking for an accountant, determine why you need a CPA. Are you looking for help with your financial business strategy? Do you need help with bookkeeping or filing yearly and quarterly taxes? Once you determine your specific needs, you can assess which skills you should look for in a CPA.

Ask Around

Colleagues experienced in running their own businesses can be a helpful resource in providing advice on this process. Ask what traits they look for in a CPA. With their knowledge in mind, begin conducting your own research guided by your particular needs.

Here are some general questions to ask yourself when looking for a CPA:

• Do they meet my specific needs?
• Is their knowledge up-to-date? Do they use modern software?
• Are they established and reputable?
• What businesses do they currently represent?

Look for Specific Industry Experience

Many accountants spend a majority of their time working with clients in a vast number of industries and don’t necessarily have experience in your sector. If you are looking for an accountant with specific industry knowledge, contact Apple Guerin Company today. We offer a variety of accountancy services to fit everyone’s needs. We look forward to hearing from you.

Apple Guerin Company LLC
Phone: (255) 767-1020
Url: https://appleguerin.com/
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808

Let’s face it: as a business owner, you have the ultimate level of responsibility. Juggling the demands of clients, overseeing your team, and monitoring financial transactions can be overwhelming. That’s why putting safeguards and internal controls in place is vital in helping you avoid employee embezzlement. While it may be hard to imagine, employee embezzlement is more common than most realize. It is, however, preventable. Here are some tips to get you started.

Know Who You’re Hiring
It’s not enough to select a new employee based on their resume or personality. Your new hire will likely be handling confidential information, so anyone whom you consider bringing on board should undergo a professional background check. You should also request references, including contact information from previous employers. 

Learn as Much as (and More Than) Your Employees
Over time, employees may see which clients pay with cash, who writes checks, the average daily and weekly deposit amounts, and how much money comes in from outside sources. This is information you should be familiar with as well. Require that each employee log these details in your accounting software and ask your accountant to help you create a program that includes a check and balance system with daily opening and closing reports. That way, either you or your accountant can run and analyze these reports.

Delegate Shared Responsibilities
No individual in your office should control any financial process from start to finish. Make sure you establish and implement a team approach to these tasks. This will let you know who recorded which transactions and create a higher degree of accountability among your team members.

Look for Common Red Flags

You should always keep an eye out for common indicators that an employee might be stealing from the business. Pay attention if someone on your team is suddenly spending beyond their means or is overly protective or secretive of their work. Employees who keep handwritten logs or use personal notebooks, should be transparent about their record keeping.

Schedule an Outside Audit

Serious financial damage can add up quickly if you’re the victim of embezzlement.  It’s important to have a professional review your financials.  He or she will be able to monitor your employees’ work to catch errors, mistakes and indications of theft.

If you notice that the numbers in your business aren’t adding up, talk to a trusted CPA first so they can put a fool-proof process in place to work through any irregularities and get your money back in your business where it belongs. If you have any questions or would like to schedule an appointment to learn more, contact us at Apple Guerin Company today.

Apple Guerin Company LLC
Phone: (255) 767-1020
Url: https://appleguerin.com/
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808

No matter how impressive your vision for your company may be, dreams require hard work and strategic planning. Highly successful business owners learn to set goals realistically and effectively. Master the skills of effective goal setting, strategic planning, and assessment to find greater success in your business.

Set Incremental Goals

Start small when setting goals by establishing daily and weekly goals. It can be easy to let ambition take over while you dream of long-term goals. However, you cannot reach your long-term goals without smaller victories along the way. Setting smaller, incremental goals provides the opportunity for you to be in consistent control of your business. You will know if you miss a weekly goal, and you can then adjust your strategy to make sure your team can stay on track moving forward. If you are only setting quarterly or yearly goals it can come as a surprise when you miss them, or your team might be left struggling to meet them in the eleventh hour.

Make Goals Visible

You and your team need a visual reminder of what your goals are and when you plan to achieve them. Put them up on a bulletin board in the office or include them on your calendar. Write your goals in a place you look daily as a consistent reminder. We all have those back-of-the-mind thoughts or ideas that might be good if implemented, but they are frequently forgotten. Make your goals visible to you and your entire team.

Measure Your Goals

How will you know if you achieved your goal if you cannot measure it? Goals should have a measurable standard. Perhaps your goal is to see a 20% increase in your monthly new client numbers in a 6-month timeframe. By defining specific numbers and timeframes, your goals will lead to action. Abstract goals are often set and missed. When a goal is clear and measurable, you can more easily create a plan that accomplishes the goal at hand. Once you’ve set measurable goals, make sure you have a cadence for evaluating them. Will you be reviewing your progress weekly, monthly, or quarterly? This timeframe will vary based on the size of the goal and effort needed to evaluate change.

Evaluate your goal setting protocol to identify areas of opportunity. Master these skills and you will be on your way to the success you desire.

Apple Guerin Company LLC
Phone: (255) 767-1020
Url: https://appleguerin.com/
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808

Excellent leadership is a result of the utilization of many important characteristics that one can identify and strengthen. This article will address 5 traits of effective leaders within a service based business. 

Appreciative

By ensuring your employees or coworkers are acknowledged regularly and sincerely for their input, you will foster a working environment that rewards and motivates the contributions made. Appreciation can be shown in many ways, including verbal recognition (public praise), bonuses and pay increases, extra time off, gifts, meals and more. By showing appreciation, you’ll also foster respect from those around you. 

Instills Accountability

While some mistake accountability for micromanagement, the truth is that a great team will appreciate and thrive with appropriate accountability. To establish this, a leader should first set clear expectations related to workload, deadlines and communication standards. Once those expectations have been set, accountability measures should be put in place. This can be as simple as checking to ensure deadlines are met and reviewing work quality. By providing honest, critical feedback, you can help your team know exactly how to become a more valuable asset to your organization. This allows them to achieve the professional growth they likely desire. When balanced with appreciation and facilitated with respectful, kind communication, accountability can lead a team to new levels. 

Compassionate

Lead with compassion. By allowing compassion into your daily interactions with your team, you’ll understand and naturally accommodate their needs. Compassionate leaders understand the importance of work-life balance, consider benefits that matter to a team, and can allow for trusting relationships to take hold. 

Fair

In creating a fair work environment, you will establish a stronger level of trust from your team. Hold each team member accountable, no matter your relationship. In some instances, familial relationships within an organization can cause frustration among other team members, when favoritism is suspected. When setting expectations, ensure you hold all team members to the same standards in attitude and effort. 

Honest

Dishonest communication can often be found in the midst of a difficult confrontation. Imagine an employee is underperforming regularly due to their own incompetence. It may be uncomfortable for an employer to confront this difficult situation. Instead of directly and honestly discussing the needs of the business, the leader may instead try to sugar coat the feedback and soften the communication. Unfortunately, this won’t allow the employee to correct the communication or to begin looking for more appropriate employment. Long term dishonesty can lead to a dysfunctional team, ridden with incompetence. 

There are many characteristics of great leaders. These five can serve as a starting point for self-evaluation, allowing you to consider your strengths as well as your areas of opportunity. 

Apple Guerin Company LLC
Phone: (255) 767-1020
Url: https://appleguerin.com/
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808