Companies - Sherrington Financial Fitness

Best Boss Ever

When I have the chance to talk to my clients about their company culture, we often talk about what kind of a boss they want to be. In a client meeting recently, with my Team Captain present, I said: “I try to be the kind of boss I would want to work for.” She stopped…

Is your company growing? Most are either growing or dying, so it is probably growing. And that’s great. But if you are growing in sales and net profit, you should also be growing in how you run your business and how your business runs. Growth mindset isn’t just about money, it’s about performance. How is…

California is now requiring all small businesses with 5 or more employees to offer their employees some kind of retirement plan. If the business doesn’t want to provide one, then the state has a new plan call CalSavers* that they will automatically enroll your employees in. I won’t deep dive into the plan (as I’m…

All entrepreneurs are dreamers. All businesses start with a dream. Have you lost touch with yours? After many years in business, it is easy to have lost touch with why you started your business. Maybe it’s time to revisit that dream. Having a driving force that helps you keep going when things get tough is…

By Sherry Lutz Herrington Whether you are just starting a business or you’ve been running yours for a while, it’s critical to understand how your business is doing financially at any given point. Having solid business accounting will help you accomplish this and keep you on track. It will also give you other critical information.…

I read an interesting article recently in the CPA Practice Advisor and felt compelled to address some of the frightening statistics quoted. I keep saying, where have all these people who have resigned during the great resignation gone? How are they making a living? As I suspected, they are opening their own businesses. “During 2021,…

By Sherry Lutz Herrington Every business needs systems as well as procedures. The procedures are the “how-tos”: the step-by-step guide on how to get anything done. But the systems are the “what.” They are the programs and apps you use to keep track of everything you are doing. There are many different systems and every…

By Sherry Lutz Herrington It’s not about the numbers, it’s about the story the numbers tell. I say that all the time and I believe it. Of course, the numbers matter, but by themselves they don’t mean much. You have to put them into the context of what they mean to have them be useful. Tracking your…

By Sherry Lutz Herrington Many small business owners consider themselves to be the CEO, affectionately known as the Chief Everything Officer (thank you USP Store for that hilarious tagline). In reality, we often are the chief bottle washer and cook, as the saying goes. We have no choice (especially when we first get started) but…

By Sherry Lutz Herrington Now that we’ve examined how to find the “true bottom line,” let’s take a look at ways to improve it. “Impacting the Bottom Line There are two basic pieces to the Profit and Loss. These pieces are income and expenses (including cost of goods sold). Changes in either of these variables…