Build to Enough

In the previous episode of Fish Food, we discussed how important it is for your business to manage and account for cash flow.  There will always be peaks and valleys in the seasons of running your small business, which is why in today’s episode, I want to share how you can establish a financial safety net through having business cash on hand and emergency funds.  I share ways in which you can buil...

Making enough income in just one side of the equation. Making enough income at the right moment so that you have the cash on hand to pay your team and vendors is another. However, the latter is key to keeping your company afloat. That is why in today’s episode, we’re talking about the most common cash flow challenges and what you can do about that. Most of the time, what you have isn’t a bill payi...

Raising prices for your services can feel scary, but it's often necessary as your business grows and evolves. But how do you if it's time to raise your prices? As your business grows and your costs increase, you may find that you need to raise your prices. This can be a scary proposition, but it's often necessary in order to keep your business afloat. By doing some research and understanding your...

Building a consistent and trusting relationship with your financial manager or accountant is a game-changer. In today’s short and sweet episode, I’m reframing how you think about your relationship with your bookkeeper, financial manager, or accountant. I discuss what we learned about our clients when we first started Little Fish Accounting and how we discovered that long-term, consistent education...

Knowing how to review your financial statements is a crucial skill as a business owner. Not only will knowing how to read these numbers help you make empowered decisions, but it’ll help you plan for growth, check-in with your business, and maintain your financials as expected. In this episode, we’re discussing how to review your balance sheet and what you should be looking for from your average ex...

If you’ve seen Little Fish Accounting out in the world or on the internet, you know how seriously we take compliance and advisory.  Our entire firm is built and based around the idea that compliance and advisory make up the most important pieces of your financial strategy. But what does it mean? In today’s episode, I explain exactly what compliance and advisory mean individually while helping you...

Understanding the different categories that make up your chart of accounts will help you make better and more informed financial decisions in your business. That is why in today’s episode, I’m defining what a chart of accounts is. More specifically, I’m breaking down the different categories you can expect to see on your chart of accounts. From the three main categories of your balance sheet and w...

Hello, hello! Welcome back to Fish Food, the podcast for entrepreneurs that are building companies that grow into thriving businesses. We aim to provide accounting/business tips in 20 minutes or less! Delegation is a skill any entrepreneur needs to have. While your business may be small, it can be overly ambitious to take on every task. Knowing who to delegate to and when to delegate is a critical...

Navigating the world of finances is overwhelming, especially as an entrepreneur or freelancer. In today’s episode, I’m giving you some quick tips on what you need to know about bookkeeping, reviewing financial reports, and tax repair so that you can take better charge of your finances. Good bookkeeping is so much more than logging your income and expenses. At its core, it is the foundation of all...

Welcome back to another episode of Fish Food, the podcast for entrepreneurs building companies that grow into thriving businesses. We aim to provide accounting/business tips in 20 minutes or less! Managing your expenses is a major part of life as an entrepreneur. Since you are the boss, the bottom line falls on you. Every financial decision you make plays a huge part in staying afloat. Understandi...

Welcome back to another episode of Fish Food, the podcast for entrepreneurs that are building companies that grow into thriving businesses. We aim to provide accounting/business tips in 20 minutes or less!  As a small business owner, it can be natural to use personal funds for business (and vice versa). Even though you are a small business, creating separate accounts for business and personal matt...

As an entrepreneur, your pricing strategy is a primary factor in determining the success of your business. Your time, level of expertise, and infrastructure make you more efficient at what you do and your prices should reflect that. On this episode, we discuss how charging for the experience is a way to optimize your earnings while also allowing you to serve your clients better. Looking for tips,...

Being an entrepreneur can be terrifying when the world is more uncertain than usual. There are so many rumors (and recent truths) about a new direction for our country and the citizens living in it, and it can be hard to believe in the future of our businesses and dreams when we are facing so much fear.  But there are ways that we can better prepare ourselves for potential pivots or downturns so t...

We all have a "how it started / how it's going story", and Little Fish is no different. Beginning as a solopreneur, to a team of a couple of contractors, and now today, a team of FT and PT employees, we've had ups, downs, and in-betweens as we created then grew a different kind of CPA firm.  In this episode, we talk about: How I thought I would get out of accounting as a career Stumbles when first...

As an entrepreneur, outsourcing is an important step that allows you to focus on growing and achieving your business goals. Think about how much time you could get back if you could offload some tasks off your plate. On this episode we discuss how not hiring could be holding you back and best practices to keep in mind as you look to expand your team. Looking for tips, insights, and support with al...

Looking for tips, insights, and support with all your accounting needs? Then head over to the Little Fish Resource Library ! If you're ready to outsource your Accounting and/or Tax prep needs go to www.littlefishaccounting.com Find us online: Instagram: www.instagram.com/littlefishaccounting Facebook: www.facebook.com/littlefishacctg Connect with Keila! LinkedIn www.krht.co

Is bookkeeping something that can be done by anyone or should it be left to the accounting professionals?  Good bookkeeping helps business owners accurately track their company’s performance to make good, strategic decisions for their business. This means it’s important to get a good idea of your income and expenses to decide what’s next. For those who want to know the difference, check out our po...

*Updated version! As your business grows, it is important to ensure that all transactions are being properly tracked. In fact, businesses that use cloud accounting systems have five times more customers than businesses that don’t. Cloud accounting is the best way to go when it comes to managing your business because it allows you to track financial activity occurring within your business accounts...

You may have heard that filing as an S Corp is a great way to structure your business, or that you need to set up an S Corp because you want favorable tax treatment. Find out in this episode if that’s true for your business. For those who want to know when to start thinking about an S Corp and where to begin, check out our podcast titled What The Heck is an S-CORP? where we discuss what to do if y...

Let’s talk about tax deductions. There is a lot of misinformation on the Internet that could have serious implications. Don’t worry, we’ve got you covered and will be discussing what qualifies as an approved expense to avoid conflict with the IRS. Need to know where to start? Looking for tips, insights, and support with all your accounting needs? Then head over to the Little Fish Resource Library...

As an entrepreneur, it’s important to have a  plan for your taxes year-round so you’re not surprised with a big bill at tax time. The key to avoiding surprises is to keep up with your bookkeeping and manage your quarterly tax payments. Looking for tips, insights, and support with all your accounting needs? Then head over to the Little Fish Resource Library ! If you're ready to outsource your Accou...

If you’re doing our job, who’s doing your job? This week we discuss what’s in store for your businesses once you reach a phase of growth. This may be the point that you decide to enlist professional help.   Some questions you should be considering: * What does an S-Corp tax status look like for my business? * How am I tracking against my budget? * How do I make sure my business is growing efficien...

Once your business becomes more established, you’re going to want to start transitioning from DIY for some accounting tasks to free up time for yourself. It can be challenging to identify what those tasks should be and when is the best time to make that change. In this episode Keila breaks down the attributes of businesses that fall into the ‘Build’ phase of the entrepreneur journey and what they...

Being a new entrepreneur can be scary and overwhelming, especially when it comes to tracking your business finances. But there are a few simple steps you can take to establish a solid accounting foundation which will make preparing for your tax filing a breeze. If you’re looking for guidance to ensure you are setting things up properly from the start, this episode is for you.   Need more? Our team...

In this episode Keila breaks down changes we’ve made to the Little Fish Accounting business model to better serve entrepreneurs, including those who aren’t quite ready to sign up for service. Whether you’re just getting started, are working on actively building your business or are focusing on long-term growth, we’ve got something for everyone.     Need more? Our team has put together a free resou...