Accounting Made Easy

Small and home-based business owners are always on the lookout for ways to streamline business processes. And after talking with several entrepreneurs, I've pinpointed that accounting is one such process that needs some affordable solutions. There are many pieces of software on the market, but the costs can seem astronomical to little maw and paw businesses. Two of the most popular and easiest to use are QuickBooks and Peachtree Accounting, costing a whopping $229.95 and $229.99, respectively. Ummmmmm, thanks but no thanks!! Purveyors of handcrafted soap (and now other bath and body care products) can use the SoapMaker Pro software. But I'm not sure I'd want to drop $89 on software that might not have everything I need. What to do? What to do?

"There's no business like show business, but there are several businesses like accounting. -David Letterman"

Now, they don't call me theREALgirlgenius for nothin', ya know?!? So, I'll let you in on a little secret. I totally heart FREEBIES. Not those kinds that have a 14- or 30-day free trial that you have to PAY to continue using. Who likes surprises like THAT? I sure don't!!! I'm talking true freebies. No cost. No strings. No loss of features. I know you're wanting me to get to the point, right? Well, here it goes...

theREALgirlgenius loves Express Accounts. There. I said it. But before you jump, realize that it isn't a fit for every business. And this is where the free part is a thing of beauty. You can download it and try it out for an unlimited amount of time...at no cost to you. If you decide 3 months down the line that it isn't what you want, no problem. If you decide 5 years from now that you don't like it, no problem. WOW! Did I just say that? Yes...I did!!!! Now, if you so choose to go for the paid version, you may do so. I haven't found a list of features yet that would urge me to pay for an upgrade, but I'm sure that their tech support could provide that information.

EA free is like a non-steroidal version of QuickBooks. It doesn't have all of the bells and whistles, but you can create quotes, invoices, credit memos, purchase orders and customer statements, plus, perform general ledger journal entries. You can even input inventory for your finished product into EA. And the download comes packaged with Inventoria to help keep track of your supplies inventory. (Sidenote: Inventoria does not *connect* with EA, so all stock levels will have to be input manually. To be honest, it is not needed if your company does not keep a supplies inventory.)

But don't take my word for it. Head on over and download Express Accounts to see if it will work for your business. Ahhhhh, you're growing more business savvy by the minute!

Dueces!!

Understanding Your Niche

Next to your product or service, the most important aspect of business operations is your niche. As a business owner, you have to identify your specialized market segment and tailor your products or services to fit its needs. Now, don't get all upset with me for saying this, but...it is absurd and unrealistic to believe that everyone in the whole wide world is a potential customer (exclamation). And it is as equally unrealistic to continuously add or modify your products or services at the request of a small group of customers (double exclamation). Focus here. Focus! Remember, we are looking long-term. So, in order to improve your business position, you must understand your niche.

“The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.” -Peter F. Drucker

Think about a recent experience when someone tried to sell you something that you chose not to purchase. Was there something specific about the product that turned you off? Were you already using a similar product and were not interested in switching? Or were you simply not a fit for the customer base that would use the product? Believe it or not, the same principles apply to other people as they come into contact with your business. You have to know your product or service. You have to know your market segment. You have to know what the customers in that niche want and need. Here are some examples of nifty entrepreneurs who know their stuff:

Mocha Tree Organics, naturally inspired skincare

Butterfly Consignment, where fashion has evolved

bobaloo!, cool stuff for cool kids

Red Chair Rue, modern urban senior photography

It is pretty cut and dry about the products or services they offer, and you can get a good idea just from their websites about the groups of people they are targeting. Understanding your niche is an essential piece for every business. If you don't have one, GET ONE!  And take your business...

...or wherever else you wish to go.  :)

It's Cool to be Square

Remember back in the day when you'd hit the department or bargain store and they'd copy your credit card information at checkout with one of those knuckle busters? Cha-Chunk! And sometimes you had to wait and wait and wait while they swiped it several times trying to get all of the numbers to copy. Cha-Chunk! Cha-Chunk! Cha-Chunk! How painstaking and time-consuming. After all of that, you probably could have done it for them with a piece of paper and a crayon!!!

And yet, there are many small businesses that still do it the old-fashioned way. They swipe with a KB, give the product to the customer and arrive home to input and process the credit card via computer, hoping and praying that the charge goes through. And if it doesn't, they take a business loss, and a customer walks away with FREE product. Why put yourself (and your business) through that?  Didn't you know that it's cool to be Square???

What is Square? Square is one of the coolest innovations in technology that makes credit card processing easy and affordable for small businesses and their customers. All you need is a compatible smartphone and a Square account. The potential for increased sales is at your fingertips.

What's the catch? Believe it or not, there is no catch. No application, activation or gateway fees. No early termination fees and no statement fees. Just a 2.75% transaction fee for swipes and 3.5% + 15 cents for keyed-in transactions. Square will process Visa, Mastercard, Discover and Amex with no additional costs incurred. And to jive with your eco-conscious philosophy, your customers can input their cell phone number or email address to have a receipt SMS'd or emailed to them at the end of the transaction.

How do I get started? Visit the Square website and submit an account application. After approval (which is almost instant), you will be prompted to setup your private account information and install the app on your smartphone. They will send the FREE card reader in the mail, but until you receive it, you can key-in your customer's credit card information.

Now THAT is pure genius!!

QR Codes: Enter the Matrix

<---- You've seen them. I know you've seen them. You know? Those little pixelated barcode-looking thingies? Yeah, they're called QR Codes and are popping up everywhere!! Online...in magazines...in marketing materials. If you are not familiar with them, then it's time for you to enter the matrix.

QR, aka "Quick Response", is a 2-D barcode that can be decoded by QR readers and various cell phone apps. With the appropriate techie tools, you can use them to generate coding for text, URLs, phone numbers, email addys, calendar events, geographical location, and more. But you're probably wondering what QR can do for you, huh? Well, here are a few ideas:

• Take people to your website address.
• Offer a discount to customers.
• Help customers pinpoint your physical location.
• Spread the word about upcoming events.
• Create opportunities for mobile marketing (SMS).

Understand that QR codes are not a "be all, end all" solution, but they will help draw in some of your more tech-savvy customers. And who knows...between Facebook, Twitter and blogging, those customers might help spread the word faster than Underdog can save Sweet Polly!! ;)

(Almost) Free Promos

One of the biggest problems for small home-based businesses is marketing. Let's face it. You don't have a huge advertising budget or thousands of dollars to spend in the marketing arena. But you do want to look big, act big and feel big. That's the only way you can compete --- the only way clients will take you seriously. So what's a penny-pinching entrepreneur to do? You find cost-effective and FREE ways to make it happen!

Let's start with social media. As time-consuming and silly as it may seem to some, outlets like Facebook and Twitter can help get your business buzz out to the masses. By signing up, you afford yourself an opportunity to reach a market segment that you might have overlooked, otherwise. AND they can help you connect with like-minded entrepreneurs and businesses that could help promote your products or services. Still not convinced of the power of social media? Then, it's high time that you read a good book: The Zen of Social Media Marketing

However, most potential clients and customers need more than a social media front before they will consider purchasing your products or paying for your services. That means you need some sort of website. Whether you decide on a free service, a blog or a full-service website, it has to portray the image that you want to have burned into the minds of your customers. Do you want something clean and professional, primitive and country or funny and funky? Think about it...you surf the web for a photographer for your child's senior pictures. You find a ton of websites, many that are BO-ring and have no character. Is THAT what you are looking for in a photographer? As you continue your search, you find Red Chair Rue, which specializes in modern urban photography. What's the first thing that catches your attention? The hip-hop music, right??? Right??? Boo-yah!! You have found your photographer!

But wait...there's more! You still need to secure some in-your-hand marketing stuff. Business cards, postcards, t-shirts, flyers, letterhead, and so on. Wanna know my secret? Vistaprint! The key is to order only what you need and cash in on as many FREE deals as possible. I mean, who doesn't like FREE??? Wanna know another secret? "Like" their Facebook page (after you sign-up, of course :) and click on the "Deals" link to take advantage of their current discounts. They advertise several free offers where you will pay a nominal fee for uploads --- sometimes nada --- and shipping.

And now that you've saved all that money, you can put it to better use!

Where's my comfort zone?

It happens to the best of us. We finally get to the point where we are content with our existence. Business is going okay. Product line is stable. Finances are in order. And then someone comes along and presents us with a golden opportunity...one that makes our current position look stagnant...one that could propel us further than we thought imaginable. Oh no! No, no, no, no, no! Panic starts to set in. Why? Because we feel safe right where we are. Because THAT is uncharted territory for us. Because it would require us to venture outside of our comfort zone where we have the warm fuzzies.

"And the day came when the risk it took to remain tightly closed in a bud was more painful than the risk it took to bloom." -Alicia Keys, The Element of Freedom

One of my favorite children's books is the Dr. Seuss classic "Are you my mother?" Knowing that her baby bird is going to be born soon, the mother bird journey's off to get some food. While she is away, the egg hatches and baby bird emerges. In an attempt to find his mother, the baby bird spreads his wings...then drops to the ground. Realizing that he can't fly, he chooses not to give up trying to find his mother. He meets other animals (and pieces of technology) along the way, asking the same question: "Are YOU my mother?" The story ends with him walking onto a crane and being afraid as it lifts him back up to his nest. A moment later, the mother bird returns with food for the baby bird.

My question to you: How will you ever learn how to fly if you never leave the nest? The nest, like your current position, represents a comfort zone, a safe haven. Once you step outside of that, you have no idea what it holds. You enter another chapter, another world...and are afforded an opportunity to grow your business and expand your horizon. If it works out positively, you will have opened the door to a new market. If it doesn't pan out, you will take some valuable lessons with you. But the best part is that you don't regret NOT stepping out on faith.

So...this is your big push. Spread your wings and soar!!

A Penny Saved...

I'm sure you know the rest of the saying, but just in case you don't: "A penny saved is a penny earned." Ben Franklin said it, but who really does it??? For starters, you --- and every other small business owner --- should! With our itty bitty small businesses we often think that a business savings account is either unnecessary or impossible. Psych YOUR mind! Some sort of savings is essential to the survival of all small businesses. What happens if you've had a slow month that results in cashflow issues? Where do you get the funds to purchase new equipment after your old equipment falls apart? Uh huh...you know what I'm talking about. Expect the unexpected.

"About the time we can make ends meet, somebody moves the ends." -Herbert Hoover

That pretty much sums it up. But you don't have to get caught up in a downward-spiral, and it doesn't take a lot of start-up funds for a savings account. The key is to make the money work for you.

If your business produces a tangible product in which state sales tax must be collected, then you are in a SAAAA-WEEEEEET position. Into your business savings account goes the sales tax that you collected. And the net gets deposited into your business checking account. Whether you withdraw money to pay taxes quarterly or annually, it is making you some money while it marinates in the savings account. You can't tell me that isn't business savvy! It's what the government does with your money every day. Think about it.

Enough thinking...now get crack-a-lackin' and head to the bank!!

HELP ME! My business is growing!

And...that's a bad thing??? Well, I know for some people, it can be pretty overwhelming when business picks up and you're sooooo not ready for it. GAAA! What do you do? *pant pant pant* First, take a moment to catch your breath. Oh the possibilities that increased business can bring. But you have to be up for the challenge.

"When I'm under the gun and I've got pressure on me, I don't panic. I look for the right solution, and then I go for it." -Magic Johnson

Now that we've got that out of the way and you're a little more calm, sit down and jot out everything your business needs in order for you to climb this mountain. Let's be honest. It's no longer a mole hill. If it were you wouldn't be in such a state of excitement, right??? True dat!!

So, your list says: "business cards, postcards, banner, etc., etc., etc." Oh-Em-Gee! I've gotcha covered! Here is some of my recent work for your viewing pleasure: 

If you need a helping hand, let theREALgirlgenius work with you to design a layout that really pops. And I'll even help you get your marketing paraphernalia printed at an affordable price. How awesome is THAT???

I am . . .

...a lover of many things...math, science, creative design, home decor. I am a single mother, an awesome sister, a loving daughter. I am eco-friendly. I reduce, reuse AND recycle. I am a teacher by day and a small business owner by night. I am a "Jill" of many trades. I am...theREALgirlgenius! And I welcome YOU into MY world.

I hope to inspire you to do everything your heart desires and be everything you've always wanted to be. I love helping people succeed...especially in business. Holla! So, you'll find that I'll drop a line now and again with business tips, hints for productivity and services that will help you grow --- both personally and professionally. And of course, I'll toss in some nerd-type stuff, cuz that's what I do!

I want to warn you, by the way, that this blog is best viewed with a cup of tea (or coffee if you prefer), as long as it is something organic and/or fair-trade. *smile*

Enjoy!