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Behind On Your Books,

Business Owners?

Let Me Rescue Your Financials Today!

Behind On Your Books,
Business Owners?

Let Me Rescue Your
Financials Today!

Top 5 Reasons Businesses Fail

by | Nov 9, 2017 | Professional Bookkeeper Baltimore

Are you thinking of starting your own business but are scared off by the prospect of it tanking or failing altogether within the first couple of months? This is a common fear but it shouldn’t stop you from chasing your dreams and running the business you’ve always wanted to run. In this blog, we’re going to talk about five of the top reasons businesses fail in their early stages and how you can prevent it.

Lack of Marketing

Regardless of whether you’re experienced in the industry or not, it’s essential to immediately establish your new company’s place in the market. This means having a marketing plan in place before you even begin making sales. Why is this so important? We live in a world that’s run by companies who are constantly competing for customers’ attention, and if you want to take your share, you’ll need to find some way to stand out.

Overpricing

Never overcharge for what you do, even if that means running your business at a loss. If you want to establish yourself as a trusted brand and keep people coming back, you need to charge at or even below what you think your value is. Every company starts with a commitment to serving the public, the funds will come later!

Not Hiring Enough Employees

Employees are what makes a company grow. If you’re expecting to do all the work by yourself, you’ll never get reach your goals and most likely won’t be making any profit. Even if this means hiring family members to help out, you should never deny an opportunity to grow.

Failing to Adapt to the Market

It’s important to note that the world we live in is constantly changing. Trends change, people’s’ interests change, and the way we market our products changes. If you want to take advantage of this and get your business at the forefront of these changes, you’ll need to start paying more attention to what makes consumers tick. Ask yourself: what can I do to make consumers committed to my brand rather than a company that’s already established? If you can answer this question, you’ll be well on your way to forming a successful business.

Improper Bookkeeping

Never start a business without having a proper way of tracking your financials. If you’ve started tracking your company’s funds in a spreadsheet this is a great start. However, once your company starts to grow, you’re going to need to hire someone to keep track of it for you because you’ll have plenty to do!

This is where Furever Bookkeeping comes into play. Whether you’re a startup or a company that’s well established in the industry, it’s always a good time to hire a bookkeeper to reconcile your books and set you on the right track for financial success. At Furever Bookkeeping, you’ll be getting the highest quality accounting services so that your finances will no longer be a mystery. Contact us today to get started!

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Furever Bookkeeping has been our financial savior. Our small business went through several bookkeepers before hiring Furever Bookkeeping. Furever Bookkeeping has been responsive, adaptable, and provided excellent communication throughout the pandemic. The level of customer service we have experienced is unmatched for a small business such as ours.

-Orman M.

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Kendra brought years of my business’s financials current and balanced my books quickly. She and the whole furever bookkeeping squad know what they’re doing. Helped my business exponentially.

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Kendra served as our law firm’s outside, independent bookkeeper. When she started working for us she inherited financial books that were a complete mess. She was able to straighten them out and, since then, has kept our books accurately and complete. I can ask her at anytime where we stand financially and she can tell me instantly. She is very personable and a delight to work with. During her tenure working with us, even though she was an independent contractor, she became our firm’s CFO. I do not hesitate to recommend her.

-Fred P.

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The entire Furever Bookkeeping team helped my Consulting Firm and me streamline our Accounting system using technology for efficiency sake. This saved us a ton. Kendra and her team are gems.

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“KENDRA HAS BEEN INSTRUMENTAL FOR OUR BUSINESS.”

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Kendra has been instrumental for our business. If you are looking for an accounting team that is professional, timely, and great at communicating call Furever Bookkeeping. They were a life saver for my company!

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“KENDRA’S TEAM IS TOP NOTCH AND RECONCILED BACK YEARS UNDER BUDGET.”

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Kendra’s team is top notch and reconciled back years under budget. Thanks to the entire team. We continue to grow as a direct result of her knowledge and strategy.

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Kendra Moore
Owner/Master Bookkeeper
Expert Accountant

Clients

Our clients range in annual revenue from $200K up to in excess of $75M+. Simple or complex financials across MULTIPLE industries are our Core Capabilities.

About Us

Furever Bookkeeping, LLC brings 15+ years of Expert Bookkeeping & Master Accounting to each of our clients. Kendra Moore and her team have over 37 years experience in: Bookkeeping, Accounting, Banking, along with experience as previous Business Owners.

Our Certifications

We are approved Accounting & Bookkeeping Federal Government Contractors, DUNS #079524284, as well as for the State of Maryland, NAICS #541219.

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