Insights

Back to Basics: Why Knowing Your Profit is Essential for Your Business

Back to Basics: Why Knowing Your Profit is Essential for Your Business

Why Knowing Your Profit is Essential for Your Success Welcome to the Nail the Numbers blog!   I’m Kerry Postel, the proud owner of Abacus Business Solutions, where our mission is to help business owners know, understand, and trust their numbers. Today, we’re taking a step back to revisit the basics and discuss a topic […]

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Mastering the Multitask: A Business Owner's Guide to Sanity

Mastering the Multitask: A Business Owner’s Guide to Sanity

Mastering the Multitask: A Business Owner’s Guide to Sanity Hello, fellow entrepreneurs! Let’s dive into a topic that hits close to home for many of us: the multifaceted role of a business owner. Picture yourself seamlessly transitioning from finance to customer service, then to marketing, all before lunch. It’s a familiar scenario for us, the

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Building a Reserve Fund: Your Business's Safety Net

Building a Reserve Fund: Your Business’s Safety Net

Building a Reserve Fund: Your Business’s Safety Net In the unpredictable world of home service businesses, having a reserve fund isn’t just good practice—it’s essential for survival and growth. Much like a safety net under a tightrope walker, a reserve fund provides financial security and peace of mind, allowing you to navigate through unexpected challenges

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How Adding More Services Can Grow Your Home Service Business

How Adding More Services Can Grow Your Home Service Business Hello, fellow business owners! Today, we’re talking about a game-changing strategy for your home service business: adding more services. Think of your business like a Swiss Army knife. The more tools it has, the more useful it becomes. Diversification, or adding different services, can turn

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5 Steps to Tackle Debt in Your Home Service Business

5 Steps to Tackle Debt in Your Home Service Business Debt management is a crucial aspect of running a successful home service business. While debt can be a useful tool for growth, unchecked it can also hinder your progress. One effective strategy for managing debt is prioritizing high-interest loans for early repayment. Here’s a step-by-step

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Navigating the Challenges of Change Orders in the Home Service Industry

Navigating the Challenges of Change Orders in the Home Service Industry In the dynamic world of Home Services, change orders can be a common occurrence, yet they present a significant challenge, potentially impacting a project’s timeline, budget, and overall profitability. Understanding how to effectively manage change orders can be the difference between a successful project

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Navigating the Chart of Accounts: Finding the Sweet Spot for Your Home Service Business

Home Service Business Navigating the Chart of Accounts: Finding the Sweet Spot for Your Home Service Business For home service industry business owners, diving into the financial aspects of running a company can sometimes feel like navigating uncharted waters. It’s essentially the backbone of your business’s accounting system, categorizing every transaction into understandable accounts. But

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Why Outsourcing Your Financials to a Pro Can Transform Your Business

Why Outsourcing Your Financials to a Pro Can Transform Your Business In the fast-paced world of business, time is as precious as gold. For many entrepreneurs and business owners, especially in the small and medium-sized sector, the mantra “I don’t have time to do my numbers” is all too familiar. Yet, the importance of having

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Decoding the Balance Sheet for Home Service Businesses

Decoding the Balance Sheet for Home Service Businesses

Decoding the Balance Sheet for Home Service Businesses As a home service business owner, you’re likely familiar with the hustle of daily operations. But when it comes to understanding your business’s financial health, the balance sheet is an indispensable tool. This might sound like complex financial jargon, but don’t worry – we’re here to break

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