Searching for lost keys is a common problem. It costs you time and energy, not to mention a ton of frustration. Searching a long list of contacts for a person can be just as taxing – especially when you remember only part of their name. Not with WorkingPoint! Our handy Find feature on the dashboard makes it super easy to find a contact in your Contacts List.

The more time you spend with WorkingPoint, the more ways you’ll find that it can help your business.

Before you commit yourself to a specific profit goal, let’s take a look at another critical component – how much your profit is contributing to the value of your company.

If you’re like most small business owners, you focus more on your Income Statement than you do your Balance Sheet.  Why?  Because you cover your expenses first and then consider adding to your cash reserve.  You’re willing to invest in things that you believe will grow your business, such as advertising, but usually don’t put money back into the business.  This approach is acceptable for businesses that are just starting out, but is too short sighted for companies that are no longer fighting for survival.

Since equity is one of the most basic measurements of the value of a business, why not establish a profit target that links to equity?

Rather than set a profit target that is a percentage of revenue, set your sights on a standard achieved by the top 5% or so of American companies: 40% Return on Equity (ROE).

By putting money back into your business every month, the value of your business will grow every year.  Giving yourself a 40% ROE ensures that your company will have the capital needed to sustain your growth, and give you the cushion you’ll need to handle any mistakes along the way.

If you’re currently using our Free plan, you’ll want to know about our new Premium plan features, including the Cash Flow Statement and Premium Widgets. Read more about these and other benefits of our paid plans »

Upgrade today to get access to these benefits…this one-minute video shows you how:

WorkingPoint has added new advanced features: the Cash Flow Statement report and Premium Dashboard Widgets. These features are available on our Bronze, Silver & Gold plans.

Cash Flow Statement
The Cash Flow Statement is one of the top financial reports used by business owners, along with the Balance Sheet and Income Statement reports. Using the indirect method of reporting, the WorkingPoint Cash Flow Statement helps you analyze the effects of your Balance Sheet and Income Statement activity on your cash and breaking your spending out into 3 main categories: Operations, Financing, and Investing.

Since your Balance Sheet and Income Statement are accrual-basis reports, you don’t actually see how your cash is being affected by your activities because these reports include all transactions. The Cash Flow Statement takes the Balance Sheet and Income Statement and converts them into a single cash-basis report so you can see how you cash is being used.

Premium Widgets
WorkingPoint’s premium dashboard widgets monitor the key success factors of your business. They provide you with concise summaries of your operations and profitability, and provide live updates to your dashboard – so you can keep your finger on the pulse of your business and make better decisions.

Our first premium widget is the Daily Operating Report. The Daily Operating Report gives you a look into your cash & sales activities for the current day & month.

Your sales activities include the number of quotes (Quotes) and invoices (Invoices) you created for the current day and month, and the total invoices due in Accounts Receivable (AR Balance Due). We also display your current Accounts Payable balance so you can see the amount you owe your vendors (AP Balance Owed).

Your cash activities include the money you spent for the current day and month (Cash Out) and the money you deposited to your accounts for the current day and month (Cash In). You can also see the sum of all of your bank accounts (Available Cash).

Put these Premium Features to Work for You…Sign up Today!
These features are available on our Bronze, Silver & Gold plans, which also include:

• Multiple users
• Customizable Chart of Accounts
• Unbranded Invoices

Using the WorkingPoint Basic Plan?
To take advantage of these new premium features, you’ll need to upgrade your account.
It’s easy…find out how.

At WorkingPoint, we make completing daily tasks super easy. Why work harder than you need to? As you have seen in our previous video on Creating an Invoice, you can use the copy link to save time on recurring invoices. In the newest video in our Invoicing Made Easy series, we’ll show you another way to save time with our convert to invoice quote feature. It’s real simple! Check it out.

The WorkingPoint Community is made up of small business owners, like yourself, and we want you to get to know each other. We’d like to introduce you to Tanya Smith of Design Your Work, based in the Dallas, Fort Worth area:

What makes Design Your Work stand out is the tangible & practical action plan they offer to persons pursuing career transition through developing entrepreneurial competencies (Who their clients want to become. What they want to do.) – whether to pursue advancement in a corporate arena or starting their own business.

Don’t have a profile for your small business? Learn more or Sign up for an account and create your free profile today!

The WorkingPoint Community is made up of small business owners, like yourself, and we want you to get to know each other. We’d like to introduce you to Charles Carlini of Carlini Group, based in the New York, NY:

Carlini Group is a fast-growing multimedia company comprising entertainment, music licensing, education, design and hospitality divisions.

Don’t have a profile for your small business? Learn more or Sign up for an account and create your free profile today!

In the newest video in our Invoicing Made Easy series, we’ll show you how easy it is to receive a payment on an invoice, update the invoice status, and add the payment to your bank account.

One of the most important results of your “bite-sized” business plan is the target you set for profitability, and it’s not as simple as just subtracting your expenses from your top line revenue number.

You need to establish a line item target for profit, and what is the right amount? I believe the right profit target is a balance of two things:

1. Giving you a competitive return on your money.
2. Giving you room to make mistakes!

Let’s focus first on the definition of a competitive return. At an absolute minimum, your profit should be more than the return you could get from money market funds, certificates of deposit, and even Treasury Bills. These examples only target a single-digit percentage profit, and it’s nowhere near good enough for you.

Double-digit percentage profits, the level attained by professional investment managers, are necessary when the level of risk increases. Because of the risks you face as an owner, your profit – your upside – needs to be in this range.

The second reason you need to make healthy profit is so that you create room for making mistakes. Think about it; as owner, your job is to think about the “big picture” – not just your business operations, but the market, the competition, and everything else as well. You’re human, and you’ll make a mistake or two. If you’re not profitable enough, you won’t have the cash and capital reserves you need.

Set a goal of achieving a double-digit percentage profit to grow your business!

The second video in our Invoicing Made Easy series shows you how easy it is to manage your invoices and quotes and gain insight into your sales using the Invoices List.