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Companies like Cisco have a “Pandemic Response Plan” — Do you?
In a world that is changing more quickly than ever, businesses need a plan when things go sideways. Companies like Cisco have taken the principle of “planning ahead” seriously, ensuring that they don’t have to be worried about the effects …
PPP Compliance Lessons for Smarter Funding Strategy
The SBA Paycheck Protection Loan Program has changed as of today, Friday, April 3, 2020.
Matt Garrett reviews the eligibility requirements, loan terms and fund allocations required for businesses who receive these PPP loans.…
How To Assess Your Customer Base And Sales Metrics
In the fourth and final part of our Boom or Bust series, we are focusing on assessing your sales metrics and customer base to measure performance. The tactics we’ve outlined below are designed to help you mitigate risk, grow your …
7 Smart Financial Strategies for Surviving an Economic Crisis
As the COVID-19 pandemic continues to worsen, finance experts say the global economy is spiraling towards a recession at best. Some also warn that a depression may be right around the corner with unemployment levels we have not seen for …
How To Retain Valuable Employees In A Tight Job Market
In the third part of our 4-part series, we are focusing on how to retain your employees since they provide real value to your business every day. The ideas we’ve outlined below are intended to help you find ways to …
TGG Accounting Named to the 2019 Inc. 5000 List
Inc. Magazine Unveils Its Annual List of America’s Fastest-Growing Private Companies—the Inc. 5000. For the 5th Time, TGG Accounting Appears on the Inc. 5000, Ranking No. 3756 With Three-Year Revenue Growth of 53 Percent
NEW YORK, August 14, 2019 – …
How To Prepare For a Business Downturn
In the second part of our 4-part series, we are focusing on how to prepare for and withstand a downturn in your business. The strategies below are designed to help you withstand business, industry or economic changes while increasing safety. …
5 Growth Opportunities For Small Businesses
We are beginning a 4-part series, focused on safeguarding your business to withstand economic changes; both positive and negative. We will give you tactics to consider depending on how the overall economy is directly impacting you and the performance of …
The Top 5 Most Important Tax Changes for Small Businesses
Tax season is officially in full swing. For those in the small business world, there are a lot of questions surrounding the recent 2017 Tax Cuts and Jobs Act and how those changes to the tax code could positively or …
Frequently Asked Questions (FAQs)
Every year TGG’s Founder and CEO, Matt Garrett speaks with thousands of small business owners around the country. They ask him numerous financial and accounting questions, yet the same ones come up time and time again. These are the most …
Basic Business Model
At TGG, we believe in simplifying things whenever possible, especially when it comes to developing a basic business model. Accounting is complicated enough! One area where simplification helps tremendously is benchmarking. While every business has some unique characteristics, businesses within …
Infographic: Accounting Department Roles and Responsibilities
When it comes to accounting, a multi-layer structure is critical to provide appropriate internal controls and to produce accurate and timely financials to manage your business. Check out our infographic and click here to read our blog to learn more …
The Ideal Accounting Department
What should your ideal accounting department look like? It’s a common question among businesses. It’s important to know proper roles and responsibilities along with how to best structure it. When it comes to accounting, a multi-layer structure is critical to …
Annual Business Planning Checklist
Annual business planning is one of the most important things that a business owner or CEO must do. It sets the strategy, the goals and determines the tactics for the following year.
Of course, there is a lot to consider …
How to Read a Nonprofit Statement of Activities
The non-profit statement of activities reads much like an Income Statement in for-profit organizations.
Instead of breaking down the activities into Revenue, Cost of Sales, General and Administrative Expenses, and Other Income and Expenses, the non-profit statement breaks down income …
How We’re Turning Small Business Accounting on Its Head
Only one in 20 small businesses has accurate financial statements.
That makes up only five percent of businesses. Almost half of all small businesses experience some kind of accounting theft at their company, which costs them an average of about …
Plan B – Preparing for the unexpected
Guide: Is Outsourcing Right for Your Nonprofit?
Nonprofit executives must wear many hats. Not only are they responsible for fundraising to advance their organizational mission, but they may also be responsible for strategic planning, board communications, human resources, and recruiting, among other things.
More so than ever …
Selling Your Business? What You Need to Know Before You Start
Selling your business can be a cumbersome task. Where do you even start?
Most business owners are experienced at running a business, often very successfully. However, selling a business is usually not something most business owners have a great deal …
Small Business Taxes and the Trap you Need to Avoid
There’s a small business tax trap that many owners fall prey to. The IRS requires you to make quarterly estimated payments of your tax liability. Most of us small business owners either underpay the tax rate or not even pay …
Why Accounting Matters for Your Business
This is an article about our CEO, Matt Garrett’s presentation to Vistage. You can view the original article on the Vistage Website.
As the COVID-19 pandemic continues to worsen, finance experts say the global economy is spiraling towards a recession …
Data-driven Fundraising Ideas for Nonprofit Organizations
TGG recently hosted a roundtable on nonprofit fundraising. We invited our clients and other nonprofits in the community to discuss strategies for increasing donations, expanding their donor base, and appealing to millennial donors.
The forum was moderated by Steve Goldstein, …
Cash vs Accrual Accounting
Cash accounting and accrual accounting are two concepts that are foreign to most people, but it’s important to understand the difference. As a business owner, if you manage your books on a cash basis, you will ultimately fool yourself. Why …
Smart Upselling Strategies for Growing Businesses
What’s the easiest sale that you can make as a business? The easiest sale you can make is to a happy customer, and you can sell them something else. Here are a couple upselling tips:
First, you can sell your …
How Increasing Utilization Affects Profitability
We’re going to talk about increasing gross margin. One of the best ways that you as a business owner can go about figuring out how to improve profitability without increasing sales. One of the best ways to improve gross margin …
HOW DISCOUNTS AFFECT PROFIT
When we’re thinking about cash, we have to think about the discounts that we might be offering, and how discounting affects profitability. Clearly, we want to try to take discounts if we get them. But what about discounts that we’re …
5 Sales Planning Steps to Profitability
True sales planning is one of the most important things that a business can do each year. It forces business leaders to think through – in significant detail – what is necessary to accomplish their business goals.
Sales planning is …
Importance of Sales Forecasting
The single most important element in the forecasting process is the Sales Forecast. Generally, Sales drives everything else; it is what determines the expense spending plan. If the company is a manufacturing company, the sales forecast will drive the production …
Sales and Accounting – They make a great team.
Sales and Marketing is a far more regular team than sales and accounting. CEO Matt Garrett outlines the many ways that sales and accounting are actually on the same team.…