Quote of the Month: Time to put a magnifying glass on your P&L?
"Beware of little expenses. A small leak will sink a great ship."
- Benjamin Franklin
Finance Tip of the Month
Is 20% a good net profit margin? What about a 40% gross margin? Answer: It depends...on your industry, size, growth rate, and other factors. Research similar-size companies in your industry and benchmark your numbers against theirs.
We use
Fathom to track our and our clients KPIs. Let us know if you're interested in learning more.
Essential Reads
5 Finance Topics Every Small Business Owner Should Master
With 82% of small business failure due to poor cash flow management (Business.com), it’s no wonder business owners lie awake at night wondering if they’re gonna make payroll.
If you want to get serious about (sustainable) growth, you’ve got to get serious about your numbers. Here are 5 finance topics every small business owner should master. Read more >
85% of Small Business Owners Are Comfortable Using AI in Their Business
From product and service recommendations to customer service, small business owners and employees are embracing AI to boost productivity and create a better customer experience. Read more >
LinkedIn Post of the Month: What's your biggest business expense?
For many services businesses, it's your people. Is your gross margin in line with industry standard?
Read more >
Action Required: Beneficial Ownership Information Reporting
If you own a small business, you need to read this. BOI reporting kicked off in January 2024, and most small businesses will need to comply. Get the details and what to do here.
Client Quote of the Month
Confidence in entity structure and tax strategy
Red Bike Advisors' experts have provided easy to understand and relevant guidance as I complete my first business acquisition. After working with them, I am confident in my entity structure and long-term tax strategy. I highly recommend Red Bike Advisors to searchers and small business leaders looking for a cost effective group of experts for all things accounting, tax and CFO services.
— Marci LaRouech, CEO of Nightingale Management LLC
A Question for You
Some of our clients rely on us to help them dial in their finances and grow. Others just want it done for them. Where do you fall on that spectrum, and how can we partner with you or take accounting and tax off your plate?
Until next month,
Your Red Bike Advisors Team
About Red Bike Advisors
We're on a mission to equip small business owners with finance and tax insights that create exponential value for their companies, customers, employees, and families. From compliance to advisory, we take the confusion and scramble out of business finance and tax strategy and bring in clarity, growth, and peace of mind.
You are receiving this monthly update as a friend or client of Red Bike Advisors LLC. You may unsubscribe at any time. |
1650 Military Cutoff Rd. Suite 104, Wilmington, NC 28403
Preferences