Mastering Business Finance Through Regular Budget Review
Unlock the power of strategic budgeting in our latest blog post, 'Mastering Business Finance Through Regular Budget Review.' Learn why October is the perfect time for a business budget assessment, the benefits of regular reviews, and how it can serve as a roadmap to success. Key insights from Lighthouse Advisory on utilizing budgeting for effective resource allocation, identifying potential challenges, and seizing opportunities.
Small Business, Big Dreams: Realizing Your Vision with CFO Services
The Role of a CFO in Small Business Growth
A CFO is a trusted navigator, guiding your ship – the business – through calm seas and turbulent waters alike. They are financial management maestros, adept with strategic oversight, capital allocation, and budget management, all of which directly feed into your business's growth trajectory.
Part of their role includes identifying growth opportunities, managing cash flows, and equally balancing risk with opportunity. They ensure compliance to regulatory standards while maintaining financial stability like a tightrope walker, with the precision that safeguards your business from potential compliance landmines.
Dive Deep into Success: Unleashing the Power of Special Projects
Running a successful small business is like navigating a vast ocean of possibilities. Sometimes, you need to take that extra plunge to discover hidden treasures and unlock new horizons. That's where "Deep Dives" – our version of special projects – come in. These individual projects are tailor-made solutions designed to address specific challenges and opportunities faced by small business owners like you. In this blog, we'll explore a few of the different types of special projects we offer and how they can propel your business forward.
A Dynamic Roadmap: Why Your Strategic Plan Should Evolve with Your Business
If you are looking to grow your business, scale operations, or address financial challenges, then CFO Services may be the best fit for you. However, bookkeeping services may be the best choice if you only need help managing day-to-day financial operations.
It's also worth noting that many businesses choose to use both CFO Services and Bookkeeping Services. This allows them to benefit from both the high-level strategic guidance of a CFO, as well as the day-to-day operational support of a bookkeeper.
Maximizing Your Business's Financial Potential: A Look at CFO and Bookkeeping Services
If you are looking to grow your business, scale operations, or address financial challenges, then CFO Services may be the best fit for you. However, bookkeeping services may be the best choice if you only need help managing day-to-day financial operations.
It's also worth noting that many businesses choose to use both CFO Services and Bookkeeping Services. This allows them to benefit from both the high-level strategic guidance of a CFO, as well as the day-to-day operational support of a bookkeeper.
Understanding Your P&L Report: What It Is and What It Is not
A Profit and Loss (P&L) report – also known as an income statement – is a summary of your business's revenue and expenses during a specific period (usually a quarter or a year).
While your P&L report provides valuable information about your company's financial picture, there are certain things that it does not provide. In this post, we'll take a closer look at what information is and is not included in a P&L report.
Tax Tips and Resources for 2023
No matter where you are with taxes, when you’re reading this, know what Lighthouse Advisory is cheering you on! If you find yourself curious about getting support to make next year’s taxes run smoother, take action today and schedule your complimentary consultation here. Let us help you reach your business objectives and achieve your full potential (without the tax time hustle).
Year-End Business Financial Tasks to Wrap Up the Year with a Bow
How to Know if Your Business is Profitable (and what to do if it isn’t)
If your business has money in the bank, that means you’re profitable, right?
Maybe, but maybe not.
To determine your profitability, we need to understand your business’s gross profit and net profit, all while analyzing your processes and overall costs of doing business.
Is all this making your head spin?!
Let me offer a simple guide to help you understand your business’s profitability and a few ideas on what to do if it isn’t. Let’s begin!
How to Conduct Your Mid-Year Business Review | Portsmouth, NH
Going through the mid-year business review and check-in process can help you finish the second half of the year strong. This also creates an opportunity to make any adjustments to set yourself up for success. First, let’s walk through why you need to perform this critical action and why it’s important to do it now. Then we’ll share the five-step process of completing this review.