What's the importance of bookkeeping, you may ask as a small business owner? Bookkeeping helps a small business owner understand the financial state of your company by producing financial reports that allow you to evaluate your profitability or lack thereof. Never under estimate the power of a good Profit & Loss statement.
A Profit & Loss statement will detail out how much revenue you brought in for the period and the expenses that came out for the same time frame. The expenses are listed by expense accounts, so not only can you see if your small business is profitable, but also where you can cut expenses to be even more so.
Tracking details will often times make a project more successful, because you know exactly where you are, and knowledge is power. You may not realize how much you spend at the office supply store until you start looking at the whole month, or possibly the whole year, and if you're trying to increase profitability, you may decide you don't need new fancy colorful file folders and instead will buy manila folders for a cheaper price. It's easier to spend when you don't realize you're in bad shape financially.
Often times small business owners, especially if they're a first-time entrepreneur, don't understand the power of bookkeeping and how they can make it work for them. It is seen as an extra expense that they will pay for when they are making more money, if at all. Filing receipts in a shoe box for your accountant at the end of the year will create a larger bill to pay at once (instead of being spread out over 12 months when doing your bookkeeping regularly), and you don't get the benefit of the data of where your money is going.
If you have bookkeeping questions, or want to talk about how financials can help you run your business better, drop us a comment!
There is cheap and free networking in Kansas City, and as a tool for small businesses, Biz Boost Consulting wants to help your marketing budget by providing a list of some cheap and free networking in Kansas City (metropolitan area) that you can check out if you are trying to grow your business on a shoestring marketing budget.
Make sure you bring plenty of business cards, but try to focus on making 2 or 3 important connections. Don't try to sell everyone at this one event because you're desperate to grow your business, it will appear that way if you start shoving your card into unwanted hands. Don't just look to network with potential clients, also look for referral partners. These are people that deal with your same client, but they aren't direct competition for you. For example, if you're a realtor, a referral partner would be a mortgage broker. Be able to explain who you are and what you do in 30 seconds, and be prepared to listen as much as you talk. Don't dominate the conversation, it's a turn-off to seasoned networkers. Keeping those networking tips in mind, browse the list below of cheap and free networking meetings in Kansas City and the metropolitan area.
1st & 3rd Monday
8:30am to 9:30am
First Watch - 9916 College Blvd. Overland Park, KS 66210
Special Notes: Must order a drink so we can keep the space. 1 person per industry, $50 Semi-annual dues, Bi-monthly social (typically the last Monday of the month at Coach's South off 135th and Antioch from 4:30pm to 6:30pm. BEX provides appetizer, beer, wine, soda, & water.) Find BEX Professionals on Facebook here.
Johnson County Business Networking
Networking & Meeting from 1:15pm - 2:30pm
Tanner's - 14337 Metcalf Ave. Overland Park, KS 66223
Meeting dues are $2.00 cash.
Special Notes: Not industry specific; open to anyone. Find Johnson County Business Networking on Meetups here.
8:45am to 10:30am
Lucky Brewgrill - 5401 Johnson Dr. Mission, KS 66205
FREE meeting - must order a soft drink or coffee. Buffet Breakfast is available for purchase.
Special Notes: Not industry specific; open to anyone. This group is on Facebook and mostly about real estate investment education.
MOVE UP KC Networking
8:30am to 10:30am
Neighborhood Cafe - Waldo, 7531 Wornall Rd. Kansas City, MO 64114
FREE Group, (donations appreciated) & FREE cinnamon roll. Must order a soft drink or coffee. Breakfast is available for purchase.
Special Notes: Not industry specific; open to anyone. Click here to find them on Meetup & Facebook.
Olathe Chamber of Commerce Coffee
9am @ different location each week.
FREE twice without joining.
Visit the calendar on Olathe.org for details.
Kansas City Networking Group
7:00am - 9:00am
Pegahs Resturants - 12122 W 87th St. Lenexa, KS 66215
Must order a drink.
Special Notes: This group only allows 1 person per industry. Annual dues are $60.00. This group is on Meetup, click here.
Do you know of a free networking meeting in Kansas City? Leave us a comment to share with other small business owners.
Biz Boost Consulting is a Kansas City company made up of virtual assistants who own or have owned businesses in the area they are experts. Biz Boost helps you grow your small business without hiring full time employees.