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You’ve Been Fired. How To Start Your Own Business (Note to GM Workers)

So you’ve worked at GM (General Motors) for years and just found out that you’re getting fired. Nearly 15,000 workers just heard this news. What are your options? Live off the buyout package. Get another job. Start your own business. Use the unexpected turn in your career to do something great! Perhaps you’ve always wanted to start your own business, but you were comfortable at your job and the pay was good. But, now you’ve been forced out of your comfort zone. Time to turn lost job lemons into lemonade. This might be the perfect time to take the next step in becoming your own boss and to commit to building the business of your dreams. Building a business is no small feat. The good news is, according to the Small Business Administration, there are 29.7 million small business owners in the United States. Many have walked this road before you and have been successful, which means you can be a successful small business owner too. If you do choose to start your own business, here are the answers to a few questions you may be asking yourself: 1. What am I skilled at? Take an inventory of your professional skills and determine 2 or 3 things that you do best. Think about things that you do better than anyone else. This can be the foundation or a “hint” of what you might want to consider selling. You have years of knowledge and experience in your HEAD. Someone, some company, needs that skill set. You have to sell it to them. Some skill ideas? Finance. Project management. Design. Baking. Crafts. Marketing. Programming. Logistics. 2. What am I passionate about? Maybe you’re skilled at finance but you hate it. Can you find the right combination of what you’re skilled at and also excited about doing? As you start and grow your small business you’ll want to get out of bed EXCITED about the workday that lies ahead. Write down a list of what you enjoy doing and cross check it with your list of skills. Where do things intersect? 3. What…

Approachable Accounting: FreshBook’s New Take on Small Business Accounting

FreshBooks , has traditionally offered a very SIMPLISTIC cash flow process to small businesses. It’s evolving and is now introducing a full-blown “industry-standard, double-entry accounting” via the FreshBook’s platform, with a TWIST. Double-entry Accounting (Just in case you are wondering what it is!) Double-entry accounting is a standard industry practice that balances cash transactions across two or more accounts: a reduction in one account (Expense) will balance an increase in another. Thus, the accounts are always kept balanced. If you want a deep dive into this practice, read about it here. Approachable Accounting: The Customer-Centric Approach FreshBooks has introduced a standard industrial double-entry accounting for such business owners who are great at running the business operations but not necessarily great at accounting. Although they have introduced a standard industry practice, they have turned it more towards the business owner & adhered to their trademark simplistic & no-frills approach. Therefore, they have branded their platform as “Approachable Accounting”. FreshBooks, unlike other cloud-based accounting software solutions, revolves around the business owner & makes the process “easy-to-understand” & “easy-to-practice” for him/her. So, FreshBooks Platform has stripped off the conventionally used heavy, complex accounting algorithms and focused on integrating a user-friendly simplistic outlook. FreshBooks approachable accounting is an easy, simple, seamless & non-intimidating process that helps you in recording not only your day-to-day transactions, invoices & costs but also in keeping an account of liabilities and assets. FreshBooks offers a warm & inviting interface that allows you to integrate all your finance related data seamlessly into the system without having to bother about the complex accounting practices. At the back-end, FreshBooks algorithms are tirelessly at work, doing all the essential, complex calculations for you, so that you are on top of all your financials including tax time, invoices, cash transactions & beyond. The “Approachable Accounting” Features The Core Accounting Features –The Invoice-based Transactions The following 3 double-entry accounting features make up the backbone of FreshBook’s accounting engine & maintain all the records for you while you remain free to on running your business: The Chart of Accounts: This is the list of accounts your…

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