Replacing a Business Vehicle

Although a vehicle’s value typically drops fairly rapidly, the tax rules limit the amount of annual depreciation that can be claimed on most cars and light trucks. Thus, when it’s time to replace a vehicle used in business, it’s not unusual…

5 Ways to Speed Up Collections

Turning receivables into cash is among the most important things a business must do. Of course, it’s easier said than done. Here are five ways to speed up collections: Streamline the billing process. You can’t collect what you don’t…
introvert

Can an Introvert be a Successful Entrepreneur?

We hate people. People we don’t know, people in big groups; we’re introverts. We appreciate the quiet, dread large networking events and consider our words carefully before we speak. We research a subject before offering an opinion, we’re…
building an organization

How Entrepreneurs Build an Organization

In Part 1 of this topic, we covered the definitions of leadership and entrepreneurial leadership, and listed qualities that business leaders share. In this post, we’ll explore how those skills help leaders to build their organization. How…
Leadership

Are All Entrepreneurs Leaders?

What is Leadership? There are many definitions provided by leading experts. The dictionary.com definition is very simply the action of leading a group of people or organization. One of our local business leaders in Detroit, Nancy Schlichtling,…
big fish little fish

Why Hire a Smaller Firm?

My previous post discussed the advantages of working for a small firm vs. a large company - now let's address the advantages of hiring a smaller firm. My experience is the the accounting world, but these points are true of most industries: You'll…