Blog

Travel light when starting up

When beginning your entrepreneurial journey, travel light. Start your business with just you and maybe one other person. Don’t assemble a team. Visit with potential customers yourself so you can learn the market. At the beginning, taking care of employees is a distraction from your exploration into what’s possible. This is the time to hone […]Read More

The MacDaddy sales metric – Sales Payback Period

One of the best gauges of your business’s ability to scale, is this metric, Sales Payback Period (SPP). SPP sets up a ratio between customer acquisition cost, and annual gross margin. Here’s an example to bring this concept home. A company sells intruder detection software on an annual subscription basis. In other words, a Saas […]Read More

On Speculation

It’s ok to speculate. That business plan in your hand. It’s a narrative about how the future will turn out. Speculation launches us into valuable conversations for action. But know that it’s speculation, not truth.Read More

The Accelerator Dilemma

The folks who run accelerators, typically require nontechnical founders to find a technical co-founder. The thinking, is that adding a coder (ideally full-stack) will allow the startup to be more nimble and iterate faster, being more responsive to obtaining product – market fit. No argument here. However, finding the right full stack dude or dudette, […]Read More

Situation

What’s your situation? What is your capacity, today, to pursue a new opportunity? If something exciting, or life-changing comes your way, can you act? Situation is composed of a number of domains. Some are obligatory. I owe money to the bank. I have a mortgage payment. I have promised my employer that I will work […]Read More

Gross Margin

Gross Margin, perhaps our favorite accounting metric here at BookWerksTM, is calculated by subtracting what your product or service cost you (Cost of Goods Sold, or COGS), from what you sell your product for (Revenue). We typically express this as a % of Revenue. For example, if you sell an item for $9 that costs […]Read More

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Do Your Bookkeeping Virtually

Virtual bookkeeping services mean the end of embarrassing boxes of receipts, and the worry of getting audited. Professional bookkeeping firms, including virtual bookkeeping companies, take the chore of financial recordkeeping off your “to-do” list–so you can focus on your business–while providing accurate, up-to-date reports when you need them. A virtual bookkeeper works like a regular bookkeeper, except you don’t have to come here to work with us. With cloud-based accounting software, we post your financial transactions, review and update your statements, reconcile your accounts and perform other vital functions without having to be with you in person. A good virtual bookkeeper like BookWerks^TM will spend just as much time as any other bookkeeper getting to know you and your business, determining the services you need, offering a fair flat-rate fee for your situation, and supporting your growth.