Margin CFO and Bookkeeping

SMB Business Owners - maybe this can help you! Give us a call about #1 and let us shock you on the cost savings!

Give me 10 minutes

At some point, you'll need to create a document, whether you're giving the dog sitter all the do's and dont's for Bruno or you're explaining operating procedures in your business.

If you want a comprehensive approach to that, this article is your new favorite resource:

Make better documents. - Anil Dash A blog about making culture. Since 1999.

Is zero-based budgeting right for your business?
It depends.

If you’ve grown quickly or are facing economic challenges, it might be the clean-up project your business needs. It can help identify cost-saving opportunities and ensure resources are strategically allocated for your future goals.

But if you’re already on track and moving toward those goals, it might be best not to upset the apple cart.

Productivity hacks are something we all enjoy learning about (and sometimes struggle to implement). These of course are for less high stakes things, but the old saying "it's the little things" really does apply to making life simpler when you have a lot of other more complicated issues to address.

We really liked #6.

What kind of productivity hacks have you implemented in your life that are worth sharing?

open.substack.com

Zero-based budgeting isn't necessarily a NEW trend, but it is making a resurgence.

The benefits of using it?

It promotes cost-consciousness throughout the organization.
- A study by the Hackett Group found that companies using zero-based budgeting reported higher levels of employee engagement in the budgeting process.

It’s profitable.
- A study by the American Productivity & Quality Center (APQC) found that for every dollar invested in implementing ZBB, companies saw an average return of $7.50.

Financial transparency is ensured.
- The detailed review process provides a clear picture of your current financial health and future needs.

According to ZNET, 49 percent of small business owners reported that their businesses performed somewhat or much better than anticipated in 2023.
https://www.zdnet.com/article/why-us-small-businesses-will-lead-in-ai-investments-in-2024/

But that same report showed that only 30 percent reported a profit last year.

There are a lot of interesting stats in that report to take in if you're a business owner.

This one particularly stands out: Half of small business owners are planning to allocate budget toward technology and infrastructure, specifically in the areas of AI, productivity and collaboration, and communication.

What about you? What technology areas are you allocating some of your budget toward this year?

Why US small businesses will lead in AI investments in 2024 A new survey of US small business owners finds that 60% seek to improve productivity and communications by allocating bigger budgets to new technologies like artificial intelligence.

Making Your Austin, TX Business and Tech Work Together

Making Your Austin, TX Business and Tech Work Together There are a multitude of important areas to prioritize in business and tech. Ideas to help you advance but also protect your business.

While profit is important, a balanced scorecard approach is key. Which is why it's so important to be tracking specific metrics in your business every month.

Track KPIs across different areas:
• Financial: Revenue, profit margins
• Operational: Efficiency, productivity
• Customer: Acquisition cost, lifetime value

Then, brainstorm with your team to identify a few SMART KPIs (Specific, Measurable, Achievable, Relevant, Time-bound) for each category.

Consider what success looks like in each area and how it aligns with your overall business goals.