Cloud CFO Services
How Detailed Does My Business Budget Need to Be?
I feel pretty safe saying that most, if not all, entrepreneurs know they need a business budget. Where business owners often get hung up is on just how comprehensive that budget needs to be. We, at Red Granite and ORBA, frequently get asked this exact question by clients: “How detailed does my business budget need to be?” And it’s another one of those “it depends,” kind of answers.
Questions to Ask Your Accountant Before You Expand Your Business
Think you are ready to expand your business? We often see startups attempt to expand too quickly before they are at the appropriate stage in their growth.
The Most Common Signs You Have Outgrown QuickBooks
When is it the Right Time to Say Goodbye to QuickBooks? We often get asked by growing companies whether or not they have outgrown QuickBooks. Let us preface this by saying when we get asked this, the honest answer is—it depends. It depends on your company size, it depends what industry you are in, and […]
Five Ways OmniChannel Retail Influences Your Accounting Processes
Strategies to use to ensure seamless accounting processes with an omnichannel retail experience. When “omnichannel” was first mentioned, Marketers everywhere were dubbing it as the next buzzword marketing term. Yet, as the years have gone by, its prevalence has increased considerably throughout publications. In fact, recent stats suggest that today’s consumers use an average of almost six touch-points across […]
Financial Evolution of a Start-Up
From checking it twice to predicting your future, these are the five stages of a start-up’s finances: Stage One: The Lone Wolf Transaction In the beginning of the evolution of a start-up, it is likely that the founder is in a lone wolf scenario. He or she is grinding away to get the business off […]
Budgeting and Forecasting for High Growth Companies
From best practices, to forecasting, to budgets gone bad, we recently hosted a roundtable discussion on budgeting and forecasting for high growth companies at The Junto Institute in Chicago, IL. One of the key takeaways from this discussion were the essential questions to ask for each stage in building a budget.
11 Lessons in Cloud-Based Etiquette
Have you been on the receiving end of some untoward cloud-based etiquette? At one point or another, I’m sure all of us has experienced a video conference with someone while their roommate was chowing down on Chipotle in the background. If not, count your lucky stars, as it’s not a pretty scene.
Three Things You Must Have Before Fishing for VC and Angel Funding
Let us start with a dose of reality. Very few, as in significantly less than 1%, of emerging U.S. businesses successfully secure Venture Capital (VC) funding. According to the National Venture Capital Association, less than 1,500 companies were the beneficiaries of first time VC backing in 2015. While angel funding is more available than VC investments, only about 2.5% of companies that apply successfully attain funding. If you think your company will be one of the lucky few, here are a few things you will need before pitching to VC or angel investors.
How Does a Growing Company Maintain its Innovation and Competitive Edge?
How does a growing company maintain its innovation and competitive edge? By hiring great employees? NOPE. It’s by keeping them. By employing open book management and offering a stake in profits you can retain great talent to help your company thrive. Learn the key concepts, metrics and incentives needed to curate your culture for growth. We […]
The Do’s and Don’ts of Pricing Your Product
Do lower costs to lower prices, but do not forget to overlook value. From freemium to premium, you have to decide what’s right for your company and its product and what fits industry standards. But, there are a few things that are universal no matter which pricing scheme you choose. Read this article, before you launch. Ready to […]