In today’s episode, we are joined by Robin Saacks, the CEO of Timac Business Systems. Timac Business Systems is business management software that helps small businesses to improve internal controls within the company, and generate meaningful financial and management reports. We discuss what business management software is, how it helps small businesses, and when to upgrade to business management software. Tune in to learn more about how to build a good financial foundation for your company, important things to know about the financial side of the business, and what expenses you can write off when you are working remotely.

IN THIS EPISODE:

• [08:40] What is business management software?
• [10:40] Three most important things small business owners should know regarding finance.
• [17:53] The best way to set yourself up for financial health and a good financial foundation.
• [21:04] Writing off home office expenses and what to be aware of.
• [31:06] How to build a business when you have no money.

KEY TAKEAWAYS:

• If you don’t have the right software in place for your business, you are losing to your competitors. With good business management software, you can get a complete picture of your business, including cash flow, inventory, what items are slow-moving, etc.
• A lot of small businesses forget to reconcile their bank and so miss out on an opportunity to deeper understand their business cash flow. Nowadays, 90% of the process can be automated via software that automatically integrates with your bank.
• When starting out a business, separate yourself individually from the corporate as an entity. Also, have a separate bank account to keep liabilities separate from yourself in the corporation.

LINKS MENTIONED:

Timac Business System Website

https://www.albanyfarms.com

Robin LinkedIn

BIO

Robin holds an MBA from the University of Cape Town in South Africa and is a licensed CPA in California. He ventured to the U.S. in 2001 to work for a CPA firm in their professional services division, supporting and advising company financial departments. Robin has previously held positions as Controller and CFO and has extensive experience implementing ERP systems and helping companies achieve greater operational efficiencies.

As CEO of Timac Business Systems, Robin's primary role is to build Timac and its resource capabilities that continue to provide clients with confidence in the use of their system, by being an outstanding resource for technical support, business process review, and reporting.