CPA - Sherrington Financial Fitness

Planning Ahead

Times are constantly changing, and as business owners we need to stay tuned in to what’s coming next. This year has seen predictions ranging from horrible economic instability to mild adjustments in the economy and everything in between. How do we know what to believe? The truth is no one can accurately predict the future. …

When was the last time something went wrong in your business? I know, don’t laugh, it was probably yesterday. Things go wrong. Frequently. That’s part of running a business. The more important question is, what did you do to prevent that problem from happening again? The tendency is to move on, forget it happened, and…

When people ask me what my niche is I have a hard time answering. In a way, I don’t believe niching is necessary. In another way, I get it. I think what the issue is for me is the way niche is defined. Generally, when people ask about my niche, they mean an industry. I…

I’ve found most business owners, especially new ones, treat accounting like the ugly stepchild. It’s something that must be dealt with, but the less attention they give it the better. Most business owners usually start with pushing aside the numbers and focusing on bringing in sales. However, that is a self-limiting attitude. The ugly stepchild…

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…

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…