The Fuel Accounting blog page

Well, is it? If you are struggling a little with that let’s talk about how to turn that around. Online businesses have two main challenges: Inventory Management, Promotion/advertising Management. Really both of these areas stem from the same core problem. What’s that you say? Alright, I’ll just say it again. In order to have a successful online business, you only need to solve one problem.

Have you ever asked yourself this question? There are several reasons this is important: Do you like your customers? Some we really like, some we tolerate, some we dread every time the phone rings. So in other words, some customers suck up energy and some give us energy. Which can you do your very best work with? Duh…

Do you remember the comedian Rodney Dangerfield? That was his signature line. “I tell you, I don’t get no respect. When I was born, I was so ugly the doctor took one look at me and slapped my mother.” Do your people respect you? Are you getting the results you need from them? Do you sometimes wonder about their commitment? You might ask yourself this question. How do you feel or how do you typically respond when someone tries to exert control over you?

It’s ok, you can be totally honest with me. And I will be honest with you, too.  Most business owners hardly ever look at their financials. There are several reasons for that: The financials are not very accurate, It’s difficult to read the financials because they are so messy looking, It’s difficult to understand how those financial results ended up on the financials…

Cloud storage is now easily available to everyone.  This gives the advantage of knowing that your files are backed up and being able to access them from anywhere. You shouldn’t be storing important files on your computer alone or on memory sticks.  But just throwing files randomly in a folder isn’t helpful either. 

Instead of living in the “Cost World” try living in the “Throughput World.” If you are focused on the speed and amount of throughput in your business (while maintaining costs) you are assured of making more money now and in the future. Why is that? It’s because you are looking operationally and systematically at things you can do to improve throughput, which ALWAYS results in making more money.

Such a question!! And the answer changes about every 15 minutes. Some economists say yes, some are not so sure. Isn’t it strange that we keep listening to disciplines that never have to be right? Economists and weathermen! People we love to hate!! So what should we do about this?

Frequently we get a new client that has a great business and is running it with their “best friend.”  They have total alignment and everything is running smoothly and they can’t foresee even the possibility of things not working out perfectly. We love these clients!  But we hear ominous ticking sounds.

IMPORTANT NOTE: This article discusses Canadian Taxation matters and may not be applicable to those outside of Canada.  Personal circumstances play a significant role in determining your taxation situation and should be discussed with a tax professional to determine your unique situation.  This information is provided for informational purposes only and does not constitute tax advice.

Most online banking platforms have a Tax Payments module that will allow you to set up your business tax payments.  Please note that most will need payments setup one day in advance of the due date.  Please note that if the due date falls on a Saturday, Sunday or non-banking day then the payment is due on the following banking day. Please note that personal income tax payments are usually handled as a Bill Payment (and not covered in this article)..