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Blogs by Michael Oberther


Supporting Strategies NYC Supports New York Maker Community

August 23, 2018 / by Michael Oberther posted in Manhattan Financial District, NYC - Midtown

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“As Told by Makers” is an event produced by Alice Chin of Your Other Half and the Supporting Strategies NYC team. The goal is to build a community of business people who want to support Makers as they develop their businesses. The event will be held on Wednesday, September 12th from 5:30 pm - 7 pm at WeWork on W 41st St. 

This is a structured Q&A event designed to give attendees the opportunity to listen, learn and ask questions. Each Maker is different and we want to give our guests and speakers the opportunity explore topics together.
 
What is a Maker?
For us, a Maker is someone who makes a tangible product that can be eaten, worn or held in your hand. We support this community of business people because they are making great things, improving our lives and creating local jobs.

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Case Study: Bookkeeping Services Help a Franchise Avoid Fines and Focus on Strategy

August 16, 2018 / by Michael Oberther posted in Small Business Advice, Manhattan Financial District, NYC - Midtown, Bookkeeping Services, Tips for Startups, Business Advice, Case Study Blogs

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In 2009 Steven Conyers acquired a CMIT (Completely Managed Information Technology) Solutions franchise in Brooklyn, New York.

Demand for his franchise’s services, which range from IT troubleshooting to data security upgrades, grew steadily. So did the demands on Conyers’ time. Desktop-based bookkeeping, which lacked real-time functionality or integration with his project management platform, was a particular drain. Supporting Strategies found a solution.

More Time — and No More Fines
Although he had an outside accountant, Conyers still had to input much of the bookkeeping information himself. He often fell behind, which proved costly. "Like most franchises, we have to report on a monthly basis," Conyers says. "I was reporting late, and the fines were costing me money."

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Checklist: How to Start a Business

May 29, 2018 / by Michael Oberther posted in Small Business Advice, Manhattan Financial District, NYC - Midtown, Bookkeeping Services, Tips for Startups

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One of the hardest things about starting a business is, well, just getting started. Here's a checklist to help you organize and prioritize.

Research your market:
You've been working at a sideline — more of a hobby, really — for years. Now you're finally ready to quit your day job and pursue it as a full-time business. Before you take that plunge, here's what you need to explore:

  • What is your target market?
  • Is your target market large enough? Are enough people interested in paying for your product or service for you to make a viable living?
  • Who is your competition? What can you do better than they do?

Write a business plan:
As this article suggests, your business plan doesn't have to be elaborate — nor will it ever truly be finished. Still, in order for you to get started, it should include the following:

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4 People Who Will Help Grow Your Business

August 22, 2017 / by Michael Oberther posted in NYC - Midtown, Business Advice

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I’ve run in to a few business owners who are foggy about the different finance professionals who help businesses make money and grow. It’s not that surprising; unless you’ve owned a business or worked in accounting or business finance, why would you know about their roles?

However, these professionals are critical to the success of your business, so let’s take a look at each.

What Does a Bookkeeper Do?
Bookkeepers are business historians; they track what has already happened. They look at all the transactions that have occurred within a defined period and organize them. This activity provides the data needed to create basic accounting reports (e.g. income statements, balance sheets, cash flow statements).

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Fight Burnout with Bookkeeping

July 13, 2017 / by Michael Oberther posted in NYC - Midtown, Bookkeeping Services

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The bootstrapped solopreneurs of New York City impress me. You can balance sales, marketing, operations and administration: you're all warriors and you have my respect. As your clients multiply there comes a time when you need to let go of some of your responsibilities. Giving up control can be scary, we get it, but so is burnout. Let's look at a common scenario.

Weekend Bookkeeping
Here is a story we often hear from solopreneurs: you just finished a super productive week. Suddenly it's Sunday and you must choose between spending time with your friends or family, doing client work or catching up on administrative tasks.

The solution? Outsource the tasks that someone else can do better, and focus on building your business and fitting in relaxation time with friends and family.

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Project Accounting for Creative Companies

June 6, 2017 / by Michael Oberther posted in NYC - Midtown, Bookkeeping 101

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There’s a poisonous idea that revenue is the most critical goal in business. I disagree revenue is a critical goal in the very early days of a new business but revenue cannot become profit unless you become efficient. When growing a small business, efficiency is the difference between success and failure.

In creative firms where the work is on a project-to-project basis, seeing where you can become efficient is a unique challenge. Each project is a little bit different — it’s not like you’re churning out the same widget over and over. You need to take a different approach.

Step 1: Your rates
Each element of your work has a different value. If you are a social media expert there is a different rate for setting up a Twitter account versus creating a compelling Facebook post. Setting up a Twitter account is important but it requires far less knowledge than writing for a specific audience, understanding the correct hashtags to use, and knowing what images get the best click-through rates.
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Announcing a Can't-Miss Lunch-and-Learn for Creative Firms

May 25, 2017 / by Michael Oberther posted in NYC - Midtown, Tips for Startups

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Are you a creative professional working in a small, project-based environment? If so, we're holding a free lunch-and-learn event just for you.

The event will take place from noon to 1 p.m. on Tuesday, May 30, 2017, at the WeWork Penn Station at 315 West 36th St. in Manhattan, Room 9A. Spend an hour with Supporting Strategies and learn concrete skills for building project budgets, communicating business goals and getting the most out of your team.

I'll lead the conversation along with Michael Mellen, an in-demand speaker, trainer and consultant who can pack a lifetime's worth of lessons into 60 minutes. He'll arm you with the skills you need to make your projects and people shine.

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Join Us for More Profit per Project Lunch-and-Learn

April 21, 2017 / by Michael Oberther posted in NYC - Midtown, Business Advice

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Supporting Strategies | Midtown Manhattan is hosting More Profit per Project, a lunch-and-learn event for creative firms that want to increase their bottom-line profit.

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