The Fuel Accounting blog page
How Small Businesses Can Win Big with AI: Lessons from the Leaders
Artificial Intelligence (AI) isn’t just the tech industry’s shiny new toy. According to Harvard Business Review’s recent article, What Companies Succeeding with AI Do Differently, organizations that thrive with AI share a few core habits—habits that even the smallest businesses can adopt.
Unlocking the Power of AI Automation for Small Businesses
In today’s fast-paced world, small businesses must embrace innovation to stay competitive. One of the most transformative tools available is artificial intelligence (AI). AI automation platforms like Zapier and Make (formerly Integromat) are particularly accessible and can revolutionize how small businesses operate by automating repetitive tasks.
Do you need a couple of super stars to ignite your business?
Finding and nurturing superstars for your business is a fascinating and multi-layered process. Let’s unpack these ideas step by step. Star performers often share certain characteristics that can be spotted early:
Do you have to run faster, just to stay in the same place?
Anyone who doesn’t think things are speeding up must be living in a remote mountain retreat. In today’s fast-paced digital landscape, keeping up with technology advancements is crucial for small business owners who want to remain competitive and sustainable.
Should the business pay the owner’s tax?
Duh, what do you think? Of course it should…Paying taxes from the business aligns with Profit First’s objective of sustainable, consistent cash flow. The business can operate smoothly while ensuring owners are covered.
The Power of Cognitive Flexibility: A Lesson from Tim Cook and Steve Jobs
In a world where staying adaptable is key to success, Tim Cook, CEO of Apple, has shared a leadership lesson that profoundly shaped him. He credited one specific skill learned from Steve Jobs as particularly transformative: the ability to change one’s mind when presented with new evidence. As Cook recalls, “He could change like this. I, initially, was sort of taken aback by that. And then I became so enamored with it.”
Do You “AI” Yet?
In the world of small business, time is money, and any tool that can save you both is worth its weight in gold. Enter AI automation—a technology that’s no longer reserved for big corporations with deep pockets. Today, AI tools are accessible and affordable for small businesses, and they can significantly streamline your operations.
Xero vs QuickBooks Online (QBO): Which is Better for Your Business?
When it comes to choosing accounting software for your business, Xero and QuickBooks Online (QBO) are two of the most popular options. Both offer robust features, cloud-based accessibility, and are designed to simplify your financial management.
How often should I make Profit First allocations?
Great question! Profit First allocations using our Profit First Cash Management System (PFCMS) are typically made twice a month, on the 10th and 25th. This schedule helps ensure that you have a regular rhythm of cash flow management without overwhelming your bookkeeping process.
What are you afraid of?
Facing the Uncomfortable Truth: Why Leaders Must Address People Problems Head-On
A friend of mine, Dave Jennings, recently created a post on LinkedIn that got me thinking. He said, ”Every leader I’ve worked with would rather avoid dealing with people’s problems. But the effective ones do it anyway.”
