Qualities of a Good Business Manager

A good business manager accomplishes the goals and objectives of the company by supervising how the team performs. What this means is that you need to accomplish your supervisory roles effectively and efficiently so that every business management activity performs well. Some of the main qualities of a good business manager are outlined below.

Effective communication with team members

As a good business manager, you are required to maintain effective verbal and non-verbal communication with your team members, as well as fostering positive and effective communication between the team members themselves. You will need to learn the right communication skills to apply when interacting with customers, employees and colleagues. It should be a productive and positive communication. Also ensure that you are more of a listener so that your followers feel confident to talk to you. Additionally, having good written communication skills are crucial for helping to achieve the overall goals of the company.

Team building

You will succeed in your business management if you cultivate a proper team culture throughout the company. The culture should be one that encourages collaboration and allows employees, regardless of levels, to interact and become involved. Employees should be heard and respected by management, and be allowed to contribute in decision making and be recognized in the company.

Performance management

The reason you hired your employees is for them to perform. Effective performance is one that allows for feedback, whether positive or not, to employees as frequently as they need it. Employees need to know whenever they are doing a job well. And, as a business management executive, you have to support and guide employees in the areas where they need to improve.

In short, every employee requires empowerment to carry out their tasks and roles in the organization. Similarly, whenever you highlight a weakness in them, you should let them know in a coaching manner. Assist your employees to improve so that they perform at their best.

A good business manager accepts responsibility

Employees expect you to give them credit for their successes. Unfortunately, what many managers do is blame subordinates whenever anything goes wrong, but does recognize them for the times they perform well.

Delegate duties but not your responsibilities. This way, if a mistake is caused by your omission or commission, you own it. Find a solution and a way forward so that the same issue does not reoccur.

Financial knowledge

You will have to understand the financial aspects surrounding your business and department. Establish financial objectives that align with your profitability goals. You must lead by example, and show respectful concern for the bottom line. There are certainly many aspects to a good manager.

We've all had great ones and not so great ones. Try to emulate those who were effective, and who you were motivated to follow. Also, ask for guidance from another manager higher in the organization whom you respect. Often times, when the student is ready, the teacher appears.

Accelerated Accounting

Tucson Accounting, Bookkeeping, and Tax Preparation Experts
145 E. University Blvd., Suite 1A
Tucson, AZ 85705

(800) 272-4005

5 Business Management Tips

Not every big business today started as it is. Actually, most large businesses faced many challenges to get to where they are now. Therefore, you will need a little patience to see your company grow. However, as you wait for your business to spread its wings, remember to select the business management tips that align to the type of business you run.

1. You require more than know-how

Being an expert in a certain field does not qualify you as a business owner. You need more than the academic and background that you acquired from a campus. Opening a business does not guarantee you customers on the first day because business management is more to this. You will need to market your business, its products and services so that you attract potential customers. As such, business management requires proper administration as a way of greasing the wheels of your new business.

2. Get the right staff members

That your employees are the biggest asset and the most important people in the company is true. The reason is that they interact with your customers. if they treat them satisfactorily, the same customers will come back again and again. Therefore, proper business management requires you to take care of your employees.

Proficiency in your business calls for you as a manager to choose the right people for every business management, taxes and business finance operation. Ensure that the people you hire are qualified, have the right experience and are in a position to grow your business.

3. Avoid hiring your friends

Business managers advise that your friends are not the right people to work for you. It leads to compromises that affect the business as well as destroyed good friendships. It can also have negative effects on your business. If you have to hire any, be cautious ensuring that they are qualified and experienced for the job. Lastly, wear different hats while at work and outside the office so that you do not mix both.

4. Planning is of utter importance

Proper business management warns against making snap decisions. Instead, planning should always be a number one strategy. Take time to plan and focus on any foreseen challenges in the business. Get a number of concerned staff and discuss the matter before getting to a final decision.

5. Be careful about hiring and promoting from within

There are times when outsourcing is the best option. Regardless of hiring from within or obtaining external expertise, ensure that each position is filled with the best candidate possible.  This will help your business to thrive, rather than to simple survive.  

Accelerated Accounting

Tucson Accounting, Bookkeeping, and Tax Preparation Experts
145 E. University Blvd., Suite 1A
Tucson, AZ 85705

(800) 272-4005

Benefits of Expert Business Consulting

Small business owners tend to habitually multitask in their business operations, mostly out of necessity. They carry out all the accounting, bookkeeping, taxes, payroll, tax returns, marketing, and business management functions. Hiring an expert business consultant can help an owner become more efficient and profitable. Business finance, alone, is more than just controlling finances and budgets. It's a fluid process that needs to be maintained with proper knowledge and exactness.

As a small business owner or manager, you get used to do doing many of the business activities by yourself. You do not enlist the help of other business finance and management professionals, and your business could be missing out on something important in the market, as a result. Below are some of the benefits of expert business consulting..

Saves you Time & Money

Does it make sense to manage your company's bookkeeping and tax returns by yourself?  Perhaps, but do you like keeping up with the changing tax laws, regulations, and payroll rules?  Why spend so much time on complex tax management when you got better things to do, like manager your business?  What about changing marketing or social media trends?  New management tools for your type of business? An expert business consultant can offer much more value than what they charge for their services. It may be time for you to hire business consulting services, and start working "On your business, rather than In your business".

Taps Expertise at the Opportune Time

It's good to tackle and keep informed about all your business matters personally. However, there are times when the business might encounter complex issues, which may be beyond your field of expertise. You may need to engage an outside expert to help you tackle the complex aspects for your business. This consulting ensures that the business-related issues receive the attention they require. Consultants can assess your business processes, operations and general business management operations as well as logistics in the entire supply chain. It's a perfect way of tapping expertise at the opportune time. 

Future Business Growth

Every business owner or manager desires strong growth for their business.  The issues is if a given business is not going forward, it's going backward. You want your business to thrive in the long term. An expert business consultant can help a business do just that - but only if the owner or manager is actually open to implement the changes suggested by the consultant.

The smart business owner knows when and how to seek out an exert business consultant. The future success of their business just may depend on it.

Accelerated Accounting

Tucson Accounting, Bookkeeping, and Tax Preparation Experts
145 E. University Blvd., Suite 1A
Tucson, AZ 85705

(520) 272-4005

4 Benefits of Proper Bookkeeping

Benefits of proper Bookkeeping can prove hugely beneficial to your business.

It is impossible for you to measure the actual success or failure of your business without having an accurate bookkeeping system, whether automated or manual. Bookkeeping is a complex business management process that allows you to maintain accurate records of your company’s revenues and expenditures.

Some small business managers choose to do the bookkeeping themselves, while others employ or outsource the services to a qualified accountant. Either way, there are many benefits associated with proper and accurate bookkeeping. which an experienced service provider can easily explain (and provide).

The decision whether to employ or outsource depends on the size of your business, as well as the type and industry in which it operates.  Here are just a few of the top-line benefits of proper bookkeeping.

1. Financial Evaluations:

A proper bookkeeping system enables a business to analyze its expenditure and income within a specified time. The system can group the data according to weeks, months, quarterly or annually, along with breaking down expenses / revenues by category.

To understand the ongoing progress of a company, the manager can compare the annual results with those of the previous years. A bookkeeping system can highlight the reasons for the current performance as compared to the previous years, and identify overages of normal expenditures and missed opportunities of income.

2. Budget Control:

Your company should create periodic reports of the current expenditure and revenue so that you can compare the actual results to your annual or monthly budgets. The bookkeeping system makes it possible to realign your actual finances to pre-set budgets, and identify over-spending or under-spending issues related to business management operations and goals.

3. Taxes, Tax Deductions and Tax Returns:

Reality check: taxes are a must do for every business. An experienced Bookkeeper can help keep a company on track for identified tax deductions, revenues, and everything tax return-related. A proper bookkeeping service can tie in directly to the accounting software with each transaction, which assists in the ease and correctness of year-end tax returns. 

The professional bookkeeper also keeps informed on any tax laws, tax return requirements and tax codes whenever they change. The bookkeeping system ensures that you have the proper documentation for your tax returns and deductions.

4. Payroll Monitoring and Management:One major benefit of having a good bookkeeping system is that it does many operations at the same time. Apart from finance management, taxes and business management, a proper payroll system allows you to monitor the payroll of your workers, and keeps up the the ever-changing payroll rules, regulations and requirements. Hence, you are rest assured that every payroll is accurate and accounted for.

Accelerated Accounting

Tucson Accounting, Bookkeeping, and Tax Preparation Experts
145 E. University Blvd., Suite 1A
Tucson, AZ 85705

(800) 272-4005

Reasons to Hire a Tax Professional

While filing your taxes may seem straightforward, there are several common pitfalls associated with doing your own taxes. Whether you simply maintain a busy schedule or aren’t sure which benefits and deductions you’re allowed to claim, working with an experienced CPA in Tucson offers several benefits when it’s time to prepare your tax return.

Your Taxes Will Get Done Quickly

Completing your own tax return is a time-consuming process if you are unfamiliar with current tax law; even if you have filed your own taxes before, tax return preparation still takes time out of your schedule. It can be tempting to put off your taxes as well, increasing your risk for late filing and late payment fees. Hiring a tax professional to handle your taxes lets you keep your valuable time for other activities, while also ensuring your taxes will be completed promptly by an experienced CPA well in advance of April 15th. When your taxes are completed and filed more quickly, you can also expect to receive any refunds you may be due more quickly as well, putting your money back in your hands even sooner.

Your Taxes Will Be Correct

Many IRS tax problems are due to mistakes made on tax returns, whether these mistakes are intentional or not. Even minor arithmetic-based mistakes on your taxes can have significant consequences if the IRS catches them. Furthermore, filing for deductions or returns you are not actually eligible to receive can result in additional fees or even an audit. The very best way to avoid IRS tax problems is to turn your tax preparation over to an experienced CPA, who can evaluate your finances and your expenditures correctly and help you receive the maximum deductions or refunds you are due without making costly mistakes. 
Tom Scott, CPA is pleased to offer comprehensive accounting services to help you avoid or handle State and Federal tax problems. You can find out more about the benefits of working with a professional CPA and how we can help you find tax debt relief on our website or by calling (800) CPA-4005.

Accelerated Accounting

Tucson Accounting, Bookkeeping, and Tax Preparation Experts
145 E. University Blvd., Suite 1A
Tucson, AZ 85705

(800) 272-4005

Advantages of an IT Business Consultant

With technology being so fluid, small businesses should invest in current developments in technology for them to maintain competitiveness in the market. This consulting should be done cost effectively and smartly. Tech business consulting can be highly effective if you lack the finances to maintain an in-house IT department. Some of the main benefits would include:

Reduction in downtime

Just a few minutes of system downtime can lead to high losses and business costs, as well as customer interface disruption. Therefore, your small business should maintain full uptime. Without an IT professional or systems consultant to help manage your technology, the costs of potential system failures, disrupted email communications and Internet problems, along with corrupt data, can prove overwhelmingly costly.

Service delivery at affordable rates

Most of the professional IT service providers have tested and planned approaches to offer your company the required security, disaster recovery, backup, contingency planning and system maintenance. The IT service provider that you choose should also offer system monitoring as well as all-time response abilities. These services help you to eliminate expensive downtime.

Acquire on-demand resources

It is not possible for a small business to always be in a position to grow smoothly or to scale back. With sudden market or sales trends, an in-house IT department would experience great demands to respond to the company's needs in a timely manner. Instead of adjusting the required internal resources effectively (at a big cost), business consulting offers a perfect solution, as they are set up to immediately scale as needed by your business needs.

Improved productivity

Technology fosters collaboration, information sharing and communication, which are essential in enhancing your company’s productivity. Different technologies deliver these services for you and your customers. Common technologies that boost productivity in your business include mobile apps and platforms, servers, email communication, central databases and broadband connectivity.

Productivity and business related benefits will be achieved when your company properly plans, implements and maintains this set of complex technological resources. An IT business consulting expert could help pave a much smoother and cost-savings option.  

Tapping economies of scale and boosting purchasing power

IT business consulting can offer higher effectiveness, efficiency and economies of scale if they focus on its IT business management functions. They have the power to combine purchasing power and access to a broader knowledge base.

They are best suited for good, fast and cheap technology services and solutions. The IT service providers use best practices to complete these tasks on your behalf. IT business consulting could therefore an important consideration to achieve your targeted business growth.  As you might hire an experience accountant, so might the hiring of a proven IT consultant make sense, as well.

Accelerated Accounting

Tucson Accounting, Bookkeeping, and Tax Preparation Experts
145 E. University Blvd., Suite 1A
Tucson, AZ 85705

(800) 272-4005