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Patrick Accounting Blog

What Should I Do With My Profit?

By Matt Patrick / February 19, 2019 / Comments Off on What Should I Do With My Profit?

A couple of weeks ago, I wrote about “How Your Bookkeeper Can Help Your Small Business Be More Profitable.” I firmly believe that if you’ll put the concepts we teach at Patrick Accounting into practice and continue to get better one step at a time, you will see your business becoming more and more profitable.…

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What’s The Difference Between Gross Profit and Net Profit and Why Does It Matter?

By Matt Patrick / February 12, 2019 / Comments Off on What’s The Difference Between Gross Profit and Net Profit and Why Does It Matter?

Some accounting jargon can be confusing. I am an accountant and most of the time I understand what someone is asking, but for a normal business owner it might as well be Latin or jibberish.  Our job is to convert accounting-ease to plain English. You know so you can actually understand what we are trying…

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How Your Bookkeeper Can Help Your Small Business Be More Profitable

By Matt Patrick / February 6, 2019 / Comments Off on How Your Bookkeeper Can Help Your Small Business Be More Profitable

This past Sunday, millions of people tuned in around the world to watch Super Bowl LIII. By now, it shouldn’t be a spoiler to let you know that the Patriots won (again), and quarterback Tom Brady will soon be fitted for ring number six. I like to say one for his other middle finger. Even…

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How To Make More Money (And Not Feel Guilty About It)

By Matt Patrick / February 5, 2019 / Comments Off on How To Make More Money (And Not Feel Guilty About It)

I learned a painful lesson the first three years after starting Patrick Accounting. My revenue was going up significantly; however, I made the same amount of money in my third year as I did in my first year. If you are like most business owners, part of the appeal of starting and running your own…

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You Must Focus on This if You Want Your Business to Succeed

By Matt Patrick / January 16, 2019 / Comments Off on You Must Focus on This if You Want Your Business to Succeed

Do you love profit? We do. And not in a shallow, superficial kind of way. We love profit because of what it means and what it can accomplish for business owners. 1. Profit is a reliable indicator of your business’ health. We all have different reasons for starting businesses. I started Patrick Accounting because I…

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3 Reasons to Read Profit First by Mike Michalowicz

By Matt Patrick / January 9, 2019 / Comments Off on 3 Reasons to Read Profit First by Mike Michalowicz

Occasionally you find something that feels revolutionary. Something that changes your perspective and opens your eyes to new possibilities. Profit First proved to be one of those experiences for me. Accounting has been done a certain way for a very long time, the basis of such is a simple formula: sales – expenses = profit.…

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7 Ways to Save Money on Taxes Before the End of the Year

By Matt Patrick / December 11, 2018 / Comments Off on 7 Ways to Save Money on Taxes Before the End of the Year

As a small business owner, you don’t need me to tell you that 2018 is quickly disappearing. By the time you subtract holidays and vacation, there are really only a few days left! Before the calendar flips into 2019, we’ve rounded up some great ways to help you save serious money on your taxes this…

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How to Increase Your Prices Without Losing Customers – Part 2

By Matt Patrick / December 4, 2018 / Comments Off on How to Increase Your Prices Without Losing Customers – Part 2

The most important consideration once you have decided to raise prices is ensuring you communicate with your customers so they are not surprised. Customers would more likely be upset by a lack of communication than by the price increase itself. Here are best practices for rolling out increased pricing: Let your customers know when you’re…

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Why It Might Be Time to Raise Your Prices for Better Profits – Part 1

By Matt Patrick / November 27, 2018 / Comments Off on Why It Might Be Time to Raise Your Prices for Better Profits – Part 1

Raising your prices can feel a lot like walking into a dark room as a child. Your mind conjures all sorts of scary things that could happen, but as soon as you turn on the light, you realize there’s nothing to fear. Most of the business owners we know dread the thought of raising prices,…

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How to Boost Your Profit With Parkinson’s Law

By Matt Patrick / November 13, 2018 / Comments Off on How to Boost Your Profit With Parkinson’s Law

Do you remember when cell phone plans weren’t unlimited? You may have had unlimited nights and weekends but only a few hundred minutes for the rest of the month. If you were like me, you kept a constant eye on minutes because going over your limit cost a ton of money! It also meant staying…

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