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The Death of the Annual Performance Review

If you have employees, you probably also have a process to help them understand how they are doing on their job performance. There’s a new trend in large companies to kill the annual performance review and replace it with continuous, instant feedback as well as a tool called an after-action review. After-Action Review An after-action review (AAR) is a fantastic process to help you look back at a project or period of your business because it allows you to see what, why, and how things occurred Read more [...]
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Cool Apps for Businesses: Hootsuite

Social media is an awesome marketing tool, but it can also be a huge time drain.  If you post regularly, or want to post regularly, and use multiple social media platforms, such as Twitter, LinkedIn, Facebook, and Google+, then an app like Hootsuite can save you a tremendous amount of time. What is Hootsuite? Hootsuite allows you to schedule social media updates or posts across multiple platforms.  If you are posting in real time, logging on several times a day, then Hootsuite can save you Read more [...]
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Five Numbers You Should Know About Your 2016 Performance

Before we get too far into 2017, let’s take a look back at 2016 results and five meaningful numbers you may want to discover about your business’s performance.  Grab your 2016 income statement, or better yet, give us a call to help you compute and interpret your results. Revenue per Employee This number measures a company’s productivity with regard to its employees and is relevant and meaningful for all industries.  If you have part-time employees, compute a full time equivalent total and Read more [...]
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Understanding Payment Terms

If there is a period of time between when your customers receive your goods or services and when they pay for them, then several things are true: There is a balance in Accounts Receivable on your balance sheet that represents how much customers owe you You have an invoice process that you follow Customers have been granted credit cards You may have some that don’t pay as quickly as you’d like them to Each invoice you send should have payment terms listed.  A payment term is Read more [...]
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Positive Pay and how it can Protect You from Fraud

Positive Pay is a service offered by banks that is designed to reduce fraudulent check-cashing against your account.  If you are writing checks on your bank account, then the positive pay service may be beneficial to your business.  How Positive Pay Works When you activate positive pay, you must send a file of checks that you have written to the bank.  Those checks will not be cashed against your account unless they match by check number, dollar amount, and account number.  Your file may Read more [...]