Five CPAs Show Entrepreneurs and Small Business Owners How to Prosper

News provided by

Jul 08, 2014, 08:30 ET

PALMYRA, Va., July 8, 2014 /PRNewswire/ -- What does it take to start and run a small business successfully? In their newly released book, Six Steps to Small Business Success, Revised and Updated, Certified Public Accountants Bert Doerhoff, Lowell G. Lillge, David J. Lucier, R. Sean Manning, and C. Gregory Orcutt offer a series of simple steps that entrepreneurs and small business owners should take as they work to convert their dreams into reality.

New book from Five CPAs show entrepreneurs and small business owners how to prosper (PRNewsFoto/Maven House Press)

Maven House Press logo (PRNewsFoto/Maven House Press)

"Many entrepreneurs fail, not because they have bad ideas, but because they don't have the knowledge and skills it takes to convert their ideas into success," says author David Lucier. Below is some of what it takes to make a business profitable:

Knowledge about Pre-Business Planning. Entrepreneurs and owners need to know what type of business best fits their dream; the best business form (corporation, partnership...); how to enlist great advisers; whether to buy a franchise, another business, or start from scratch; and how to create a well-thought-out business plan and strategic marketing plan.

Knowledge about Finances, Budgets, Numbers. Entrepreneurs and owners need to know the types of financing available; how to understand financial statements; the business's key operating statistics and how to compare them to industry standards; the current year's tax liability; and whether the business has the right insurance coverage.

Knowledge about People. Entrepreneurs and owners need to know how to go about screening, interviewing, and hiring employees; whether employees are receiving a fair wage and competitive benefits; how to train new employees; what it takes to manage employees effectively; and how to safely terminate an employee.

Knowledge about Work Flow, Customers, Sales. Entrepreneurs and owners need to know how to make good decisions about products and customers; whether systems are in place to enable product/service consistency; how to manage customers, grant credit, and respond to customer service issues; how to create sales and marketing plans; how to adjust for market changes; and how to expand the business.

The book offers readers the knowledge it takes to make a business profitable. It also addresses how to plan for eventually selling the business and moving on, including how to transition to life after business.

The first edition of the book won the prestigious 2011 Book of the Year Award presented by the Professional Association of Small Business Accountants.

For more information visit www.mavenhousepress.com/small-business-success.

About the Authors
Bert Doerhoff, CPA, started his CPA firm in 1978. It was named one of the top fifty most innovative firms in the nation by CPA Digest. Lowell G. Lillge, CPA, started his accounting firm in 1983. He has worked with hundreds of clients. David J. Lucier, CPA, is an entrepreneur, real estate investor, and business adviser. He has worked with hundreds of start-up and emerging companies over the past thirty years. R. Sean Manning, CPA, owns an accounting firm as well as several other businesses. In 2008 his firm was named Innovative Accounting Firm of the Year by the Professional Association of Small Business Accountants. C. Gregory Orcutt, CPA, has owned an accounting firm for over twenty-five years. He was recently awarded the Small Firm of the Year from the Professional Association of Small Business Accountants.

About Maven House Press
Maven House publishes business books on small business, entrepreneurship, strategy and planning, innovation and creativity, marketing and social media, management and leadership, sustainable/green business, talent management, project management, and nonprofit management. For more information visit www.mavenhousepress.com.