4Thought Blog

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5 Recent Supreme Court Decisions that Could Affect Your Business

Posted by Concannon Miller on Tue, Jul 18, 2017

At the end of June, the U.S. Supreme Court adjourned for its summer recess. Here are five cases from its recent term that may be of interest to business owners and executives.

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Topics: Business consulting

Business Owners’ Top Five Frustrations – And How to Overcome Them

Posted by Tom Garrity on Fri, Jul 7, 2017

Remember the reasons you started your business? Making your mark in this world. Freedom. More fun. Control of your destiny.

And then one day you woke up and it felt like you had an albatross wrapped around your neck. You’re working harder than ever. Your team isn’t clicking the way you want. There is conflict within the family. Money is tight. And fun – what’s that?

Unfortunately for many family business owners, they don’t experience the very things that attracted them to take the risk in first place. In fact, they are continually frustrated.

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Topics: Business consulting

Business Owners: How to Avoid IRS Penalties for Using Independent Contractors

Posted by Concannon Miller on Wed, Jul 5, 2017

Many companies use independent contractors to slash payroll taxes and the high cost of fringe benefits. But using outside workers can result in other problems. It's no secret that Uncle Sam wages battle with businesses over freelancers. And the situation is getting worse.

In recent years, many workers have turned to a career of consulting. The IRS is on the lookout for companies that use these consultants improperly -- especially those that lay off workers and then hire them back as independent contractors to cut labor costs.

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Topics: Business consulting

Mobile Payment Apps: How Business Owners can be Protected from Electronic Fraud

Posted by Laura Gaythwaite on Thu, Jun 22, 2017

As your business begins to accept more types of electronic payment methods including gift cards, pre-funded cards, delivery service credits and mobile payment apps, it becomes increasingly important to protect your bank accounts from electronic fraud.

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Topics: Business consulting

Improve Your Business Gross Profit Through Inventory Control

Posted by Tony Deutsch on Thu, May 25, 2017

Controlling and monitoring your inventory is an essential part of maximizing gross profit. To control your inventory, you must have a system of checks, balances and procedures in place.

Here are several inventory control techniques business executives should consider to help improve gross profit:

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Topics: Business consulting

Shorten Your Cash Conversion Cycle to Boost Your Business’s Bottom Line

Posted by Tony Deutsch on Thu, May 18, 2017

Sufficient cash flow is incredibly important to the success of your business.

It’s a critical metric in business health. The amount of available cash your business has on hand at any given time affects both your daily and long-term operations.

Poor cash flow makes your day-to-day business operations more challenging and it also negatively affects your timeline on paying creditors.

Fortunately, there are ways to shorten your cash conversion cycle. Reducing the cycle length can even boost your bottom line through interest savings.

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Topics: Business consulting

Small Businesses: Get Free Financing, Tax Advice for Small Business Week

Posted by Concannon Miller on Thu, Apr 27, 2017

Small businesses are the lifeblood of the U.S. economy.

That’s recognized nationally through National Small Business Week and locally through the Pennsylvania Small Business Week.

Both weeks run April 30 through May 6, and both the federal and state governments are holding multiple free webinars providing small businesses with tax, financing, marketing and other guidance.

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Topics: Business consulting, Small business

Business Productivity and the Rule of Three

Posted by Ryan Moore on Thu, Apr 20, 2017

We all sometimes wish that there were more hours in the day or that we could somehow clone ourselves in order to get everything that we needed or wanted to get done, done … right?

In our increasingly complex and time-constrained world, the concept of productivity takes center stage. We are left pondering questions like:

  • How do you really become more productive?
  • How do I measure my productivity?
  • Is it even possible for me to get more done than I already do?
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Topics: Business consulting

Seasonal Businesses: How to Best Manage Cash Flow

Posted by Concannon Miller on Thu, Apr 13, 2017

What do pumpkin patches, ski resorts, ice cream shops and accounting firms have in common? They're all seasonal businesses that experience a surge in revenues during their busy seasons that tapers off in the slow season. Seasonal peaks and troughs present challenges that require creative planning and fiscal prudence.

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Topics: Business consulting

Business Owners Can Accomplish Their Goals – If They Prioritize

Posted by Tom Garrity on Thu, Mar 30, 2017

We all have great ideas and plans. But actually moving on them is really hard. (It really isn’t, but we make it that way.)

Why?

Because you can’t do everything. I know – nothing new there – but we all get caught up in it. There are three resources we all have in limited supply: time, money, and people.  And the most critical resource is time. I don’t care how much money or how many people you have, you cannot get any more time.

One of the first lessons of strategic planning is that the toughest part of strategy is not deciding what to say “yes” to, but rather what to say “no” to. Focus and priorities are where success lies.

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Topics: Business consulting

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