Could you unearth hidden profits in your company?
Can your business become more profitable without venturing out of its comfort zone? Of course! However, adding new products or services may not be the best way for your business — or any company — to boost profits. Bottom-line potential may lie undiscovered in your existing operations. How can you find these “hidden” profits? […]
Happy Labor Day
The MMQ office will be closed today to celebrate the Labor Day Holiday. We will re-open tomorrow at 8:00 am. […]
2019 – 06/26 – What to do if your nonprofit receives an IRS audit letter
The IRS’s staffing shortages have been well publicized. But it’s a mistake to assume that the agency has stopped scrutinizing not-for-profits. Don’t panic if you receive an audit letter. The letter will inform about whether the IRS is conducting an in-person, field audit or a correspondence audit. This second type simply requires you to send […]
Put a number on your midyear performance with the right KPIs
We’ve reached the middle of the calendar year. So how are things going for your business? Conversationally you might say, “Pretty good.” But, analytically, can you put a number on how well you’re doing — or several numbers for that matter? You can if you choose and calculate the right key performance indicators (KPIs). 4 […]
Fiduciary duties: What your board members need to know
Not-for-profit board members — whether compensated or not — have a fiduciary duty to the organization. Some states have laws governing the activities of nonprofit boards and other fiduciaries. But not all board members are aware of their responsibilities. To protect your nonprofit’s financial health and integrity, it’s important that you help them understand. Primary […]
2019 – 06/12 – Could you unearth hidden profits in your company?
Bottom-line potential may lie undiscovered in every company’s existing operations. How can you find these “hidden” profits? By digging into every facet of your organization. To do so, create a profit plan that outlines potential profit boosters and sets objectives for realizing these improvements. Among the best ways to put together such a plan is […]
Buy vs. lease: Business equipment edition
Life presents us with many choices: paper or plastic, chocolate or vanilla, regular or decaf. For businesses, a common conundrum is buy or lease. You’ve probably faced this decision when considering office space or a location for your company’s production facilities. But the buy vs. lease quandary also comes into play with equipment. Pride of […]
Financial statements tell your business’s story, inside and out
Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show you their bookkeeping software. Although tracking financial transactions is critical, spreadsheets aren’t financial statements. In short, financial statements are detailed and carefully organized reports about the financial activities and overall position of a business. […]
2018 – 11/28 – Devote some time to internal leadership development
A company well-stocked with employees who have leadership skills is a business that’s poised for success. Owners and execs can make this happen by prioritizing internal leadership development. Try these tips. […]
2019 – 01/02 – Economic damages: Recovering what was lost
A business can suffer economic damages arising from a variety of illegal conduct. Common examples include breach of contract, patent infringement and commercial negligence. The goal of any economic damages case is to make your company “whole” again. This involves answering one critical question: Where would you be today “but for” the defendant’s alleged wrongdoing? […]
