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Bookkeeping – Is it really that important?

By Accounting, Bookkeeping, Business, Cash ManagementNo Comments

What exactly is bookkeeping?   To put it simply and more official sounding, bookkeeping is classifying and recording every business transaction in your books. Your books can be a literal book with pen and paper. Or like most people your books are in a software program like QuickBooks for example. On the surface it seems pretty straight forward, but once you get into classifications along…

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How To Forecast Cash Flow For 90 Days

By UncategorizedNo Comments

Let’s talk about forecasting cash flow   One of the struggles our gym owner friends have is forecasting their cash flow.   When the pandemic happened we created a 13-week cash flow tool which can be really valuable. If you would like a copy of this template we are discussing today, just shoot us a message and we will send it over.   In the…

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Profit First Rhythm Days

By UncategorizedNo Comments

I want to respond to a challenge that was mentioned in my Profit First For Microgyms Facebook Community. The topic – setting aside time to manage cash flow and implement profit first rhythm days.   First of all, I want to call a bit of BS about not having the time.   I don’t think you are struggling with setting aside time, I think you…

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How Do I Pay Myself: Advice For Gym Owners

By UncategorizedNo Comments

We have been surveying all of you and collecting that data and that is the inspiration behind the tips that we share with you. Here’s an interesting one for you today.   Too Many Of Your Are Not Paying Yourself…   I wanted to discuss a particular response that we got recently because honestly, the goal of every microgym owner SHOULD BE to pay themselves….

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Why Your Business Will Benefit from Professional Accounting

By Accounting, BusinessNo Comments

Note – This awesome post is written by a guest blogger, Chelsea Lamb with businesspop.net.   Have you thought about hiring a professional accountant? If you run a small business, outsourcing your accounting is a no-brainer. Investing in professional accounting services from a company like Incite Tax & Accounting will help you save time and money, avoid tax-time stress, keep your employees happy, and more!…

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Interested In Our Services? -This Is What We Do

By Accounting, Blog, Tax Strategy, UncategorizedNo Comments

From the outside, we look like just another tax and accounting firm, but our services are so much more than that… Sure, We Can Definitely File Your Tax Returns! It’s true, we help you file tax returns, both personal and business, but our services expand so much more beyond!   But… What About A Strategy For Your Money? One of the services that we provide…

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Eat Veggies First and Buy Your Dream Home

By Business, Cash Management, Profit FirstNo Comments

As I’m savoring, ever so quickly and with little discipline, a chocolate egg, I’m reminded of the soundness of the diet and financial principle: Eat veggies first.   At the dinner table, by eating your vegetables first, you fill up on the healthy food, leaving you less room to pig out on the bad carbs or desserts. Or chocolate eggs.   So, what are the…

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Filtering Niches: Deciding who to work with

By Blog, Cash Management, Tax StrategyNo Comments

Here at Incite tax, we are really big fans of Niching and helping others find niches, because, honestly, it is really profitable!    How Is Niching Profitable?   Well, that’s simple… When we truly know and understand the types of pain points and issues our clients are facing, we are able to better cater our services to them.    Consider us as an example…   …

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No. 1 Lesson Apollo 13 Can Teach Business Owners About Profitability

By Cash Management, Profit FirstNo Comments

Humans can accomplish amazing things with limited resources — as the Apollo 13 mission taught us.   The mission was to land on the moon, but an explosion in one of the oxygen tanks forced the crew to return to Earth as quickly as possible with no moon landing. Losing one oxygen tank meant that at some point before the shuttle made it back to…

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Leadership: How Does It Help Improve Your Profit?

By BlogNo Comments

Leaderships Is About Knowing Your Strengths Today we are going to be talking leadership and strengths, with Darren, from 34 Strong. A business that will help you discover your strengths out of the 34 strengths in the Clifton Strengthsfinder.    Why Should You Know Your Strengths Knowing your strengths can make such a difference in understanding and explaining what you bring to the table with…

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Diet Your Way to Healthy Cash Flow

By Cash Management, Profit FirstNo Comments

Microgym owners, you are in for a treat because you have an advantage over other business owners: You understand fitness, health and losing weight better than anyone.   It just so happens that in “Profit First,” Mike Michalowicz uses the analogy of healthy eating to explain the Profit First core principles. This is like getting a head start to first place on the podium!  …

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Delegate or Abdicate: Are You Responsible enough to make the call?

By BlogNo Comments

Responsible Business Ownership Today, I wanted to discuss ways we, as responsible gym owners, can improve, based on some experiences I have had with some of our clients. When it comes to losing clients, regardless of the reason it is important to think about “Where can we take responsibility and what can we do better?”    Abdicate vs Delegate One important element is the difference…

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Marketers: It’s Time To Stop Doing This!

By Blog, Cash ManagementNo Comments

Marketers, It’s Honestly Getting Annoying I have noticed that more and more emails and messages from marketers talk about increasing your “profit” or how to “increase your profit”. Whether this is marketers or coaches or mentors, a LOT of these programs like to use that magic word Profit.    However, once you dive in and do a bit more research you find that they are…

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Success In Spite of 2020

By Business, Tax StrategyNo Comments

Today, I had the opportunity to sit and have a conversation with Billy Hofacker, a successful gym owner and business coach.    We discuss how he navigated the awfulness of 2020, from the start of COVID and business and gyms shutting down across the county to tentative reopenings.   He shares with us some things that he felt went right and is also transparent about…

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Retirement Planning for Gym Owners

By Business, RetirementNo Comments

Ok guys, hard facts time… You cannot count on selling your gym as your only retirement plan. That’s just not how it works in this industry, unfortunately.    The truth, at best, with great systems and resources, I have seen gyms sell for just a little more than their annual revenue.   Typically, however, a gym would normally just be purchased for its assets.  …

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Problems with your Lease Agreement?

By BusinessNo Comments

Over the past weekend, I had a potential new member reach out to me, looking to possibly join my gym.    In their message, they mentioned that their previous gym had closed its doors and that is why they were looking elsewhere.    Being the opportunist that I am, I got a bit more information and then ended up reaching out directly to that gym…

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