Doug Long 6 articles
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Managing Your "Business Management"

  • Posted by Doug Long
  • March 17, 2015 9:56 AM PDT
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How many “hats” do you wear on a given day as you run your business? Managing these hats effectively can be the difference between an efficient profitable business and a time and energy sucking black hole.

by William Olsen CPA, Co-founder Deductr

How many “hats” do you wear on a given day as you run your business? Every business is made up of three major aspects, each requiring you to incorporate a different skillset and mindset: 1) Product and service; 2) Marketing and sales, and; 3) Business management. You, as an entrepreneur and small business owner, need to be able to jump between each aspect (or “switch hats”) at any given time based on the demands of your business.

Usually the “product and service” aspect comes easy. It’s generally the reason you went into business in the first place. You have an affinity for a particular product or you are good at providing a service. Most successful entrepreneurs are also very good at the “marketing and sales” aspect of business. It’s this aspect of any business that keeps the cash flowing in and brings life to your business.

How about that third aspect, the 'business management' side of your business? Does putting on this “hat” become increasingly difficult as your business grows? Deductr was designed to help you 'manage' this aspect of your business in a whole new way. Think of it as off-loading much of your deduction tracking efforts to automation, thus allowing you to expand what you can accomplish in the normal and ordinary course of your day. Deductr initiates the tracking activity when it automatically imports bank and credit card transactions. Then, like a personal assistant assigned to the task, it reduces your “touch points” with the data allowing you to simply “confirm” the business purpose (or remove the personal transactions that don’t belong in your business records). Once the data is in Deductr (and marked confirmed by you), you can forget it and move on to doing what you do best: running your business.

The best part is this can all be done via mobile app, so you can “take care of business” in small chunks throughout your day. Add your business miles while on the go and you will have a complete set of business records when you need it for taxes.

Deductr was created by two entrepreneurs and a CPA to make one essential business practice, tracking and documenting business expenses, easy to manage. Automate your expense tracking and keep more of what you make. Check out http://deductr.com/tlv

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