New Business Direction LLC
We are pleased to announce that Britney Schaub has joined our team as our new Office Assistant at New Business Directions, LLC. Britney has lived in the Mount Washington Valley for past 10 years and has two wonderful children. She graduated from Kennett High School in 2012 and is currently enrolled at Granite State College pursuing an Associate’s Degree in Business and plans to gain her Bachelor’s in Accounting and Finance. Britney and her husband love spending time together as a family. She is looking forward to working with us here at New Business Directions.
Are You Looking For A Way To Simplify Your Accounts Payable Process?
How About The Accounts Receivable Process?
The New Business Directions team is proud to introduce to you a more simplified way to manage your bills. Wayne Kukuruza, Suzy Halwick, and Rhonda Rosand, CPA are currently certified BILL experts and are ready and waiting to help you simplify!
What is BILL?
With over 1,000,000 members paying and receiving payments worth over $23 billion per year, BILL is the leading Business Payments Network. Just think, you can now approve and pay your bills from anywhere, using a laptop, Tablet or Smartphone.
BILL is designed to eliminate your double-entry and data management hassles by integrating seamlessly with your QuickBooks Desktop or Online file. BILL also integrates with Xero, NetSuite, and Intacct software.
Here are a few examples of the AP (Accounts Payable) benefits that our team here at New Business Directions has noticed. We’ve slashed our time spent on bill approvals and payments by 50%. We no longer have more paperwork to shuffle, no more waiting on approvers, no more stacks of checks to sign, and our paperless office dream is becoming a reality thanks to the unlimited document storage feature where you can securely store bills, estimates, invoices, and vendor credits.
The AR (Accounts Receivable) benefits are notable as well. Collect your receivables two to three times faster via ACH, credit cards and more. You choose the payment method, BILL sends the invoices for you, and customers can see your invoices instantly online, no more phone tag when customers who have questions.
Why Our Clients Love BILL
“BILL has been a great time saver since day one. I simply click for my approval and then click again to pay. No more passing paperwork between AP and my desk, signing checks and stuffing envelopes. The ability to see what was charged to a general ledger account is as easy as a few clicks and it displays the image of the invoice, which makes explanations a breeze. Approving managers have welcomed the change as they can approve invoices from their mobile devices while out of the office. One of the best software additions for a busy business office.”
– Mark Goodwin, Business Manager at Bridgton Academy
Tim Ferriss made the 4-hour workweek a popular concept in his 2007 book. But is there such a thing, and more importantly, can business owners like you and me cash in on it? As the last of the Baby Boomers approach retirement, the topic of working less while making the same or more income is popular.
Here are five ideas to help you work fewer hours while making the same or more income.
Active vs. Automatic Revenue
Some business models allow you to generate automatic revenue. Automatic revenue is revenue you can earn and leverage over time by doing something only once and not over and over again. Active revenue is earned while doing something over and over again. Showing up for a teaching job with a live audience is active revenue while producing and selling video recordings of the same teaching is automatic revenue.
A goal of a 4-hour workweek concept is to increase automatic revenue while reducing active revenue. You may have to think out of the box to do this in your industry, but the payoff can be huge.
Delegation and Outsourcing
One traditional way to move to a 4-hour workweek is to have others do the work. Hiring staff frees up your time and allows your business to become scalable. When it runs without you, it’s more salable too.
Time Batching
If you have a lot of distractions in your day, you can easily double your productivity by learning time batching, which is grouping like tasks together in a block or batch of time and getting them done. For example, if an employee interrupts you with questions multiple times a day, train them to come to you only once a day to get all their questions handled at one time. Take your calls one after the other in a group, and then stay off the phone the rest of the day. Do the same with email, social media, running errands, and all of your other tasks.
Automation and Procedures
New apps save an amazing amount of time. List all of your time-consuming chores and then find an app that helps you get them done faster. For example, a scheduling app can reduce countless emails back and forth when setting meetings and appointments. To-do list or project management software can cut down on emails among you and your staff. And apps like Zapier can connect two apps that need to share data, reducing data entry.
Leverage
The key to working less is to embrace the concept of leverage. How can you leverage the business resources around you to save time, increase staff productivity, and improve profits? It takes discipline and change, two difficult goals to accomplish. But when you do, you will be rewarded.
An interesting way to fund your dream project, whether you are a startup or a more established business, is to consider crowdfunding. Crowdfunding is when many people provide the money in small amounts for a project.
Although crowdfunding is not new, it became much more popular when organizations like Kickstarter, Indiegogo, RocketHub, and GoFundMe created web platforms to enable this method of raising funds. The 2015 crowdfunding market is estimated at $34 billion and is growing exponentially.
In crowdfunding, the person who initiates the project receives the money that the people contribute. The web platform that supports the project usually gets a percentage of what’s raised. It varies as to what the people who contribute to the project receive in return. It can be the payback of a loan with interest, shares of stock, rewards, or a possible tax write-off in the case of a donation.
You probably hear about companies that get funded overnight, making it look easy to create a successful crowdfunding campaign. There is a lot that goes into the launch of a successful campaign. Here are some steps:
- Design your project and research how much money you need
- Choose your platform (Kickstarter, Indiegogo, etc.). This requires careful research about which platform is best for your type of project as well as a complete understanding of the rules and limitations of that platform. For example, on Kickstarter, if you don’t reach your goal, you don’t get any money, including what you have partially raised.
- Create a video that tells your story and makes the pitch. You must not only grab attention but appeal to both the rational and emotional sides of your followers. You must also provide an enticing reward for your followers.
- Count your followers. Do you have enough to raise the capital you need? If not, create the marketing you need to build your followers and make your numbers.
- Gain some big name backers if you possibly can.
- Develop a carefully orchestrated launch using multiple marketing channels, including social media and press.
With the explosive growth in crowdfunding, it’s here to stay. Consider how it may help your business grow.
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