In our business, one of our waste outputs is paper and cardboard from our handouts, from used writing books, etc.. It’s amazing how much we generate each week, and it’s bulky but not particularly heavy, so storage is a real problem. If I didn’t have a decent waste collection service, storage would quickly become a problem, and a trash compactor would be essential…

I’m lucky that our waste collection service is so effective, otherwise I’d be looking at buying a trash compactor. It’s a major expense, for sure. As a small entrepreneur, I’d be looking at making it affordable by doing my homework properly:

Research trash compactor manufacturers for after sales care

Make a list of as many compactor manufacturers as you can find. You can start with Google, and use the keywords “Compactor Manufacturer“. However, you should not make the mistake of assuming that all of these companies make products that are basically the same quality. That is not the case. There can be quite a big difference in the way that these machines perform from one manufacturer to another.

So you will need to look at reviews of some of the machines you find to determine which are better manufacturers/models. If you find a model/manufacturer you like, then check out reviews and feedback from others who have purchased their products. Don’t blindly follow the reviews, after all reviews can easily be faked.

Look for genuine complaints with specific issues that are discussed, you’ll find insight in the 2-, 3-, and 4-star reviews especially. You’ll get a lot of insight into the products, what they can really do, and how they perform in real world situations.

You should then find out which compactors manufacturers have the best reputations for reliability, warranties, and repairability. Ideally, you want to buy a trash compactor that does not need to be repaired on a regular basis.

If repairing is necessary, what kind of service does the particular manufacturer provide? For example,  the trash compactors produced by Miltek Australia have a reputation for being very dependable machines.

Try before you buy: Check out the demos and get a hands-on test-drive

It is always a good idea to see a piece of machinery operate with your own eyes before you plunk down a large amount of cash. This is why you should make arrangements to test out compactors that are made by a variety of companies. Seeing these machines work with your own eyes will allow you to make an educated purchase.

Make sure to ask how you can view the machine in operation, whether they have a demo or can provide a trip to an installed machine with a satisfied owner. When you’re talking to the representatives, keep a list of notes of the issues you want to raise so you won’t forget anything important. It’s easy to skip over a crucial item if you’re short of time or being offered a time-sensitive deal.

Get your calculators ready: 3 – 2 – 1 Count!

All costs should be calculated; not just the purchase price. The most obvious is state and national taxes that will be added to the bill. However, you will also need to consider delivery charges, installation costs, usage costs, repair costs, and training costs.

You will probably not be installing your own trash compactor. Therefore, you will need to find a company to do it for you. Call all of the companies in your area that can perform this task for you. Get estimates from all of them to find out which one offers the lowest price.

Of course, time is money. So if you can get an all-inclusive package that covers maintenance & repair as well, it may well save on the downtime costs by helping you get assistance quickly. Downtime in any business can mean that orders get delayed, production is cancelled, and you have angry customers asking where their goods are, especially if you’re depending on compactors.

So do your due diligence, get your hands dirty, and finalize your costs before you signed on the dotted line. At least, you’ll have peace of mind that you covered the important issues in buying an important tool. If I didn’t know better, I’d say that’s as good as saving a few dollars upfront! And this advice pertains to buying almost any equipment for your small business, too!

Your business excites you (but finding a Hawaii CPA does not!), it drives you each day to produce better products and deliver better service to your customers! If you’re like me, you’ll love doing it… but there is a huge buzzkill that saps your time, your money and your energy. Know what it is?

…Bookkeeping!

You may be a brilliant entrepreneur capable of offering top notch products and services. When it comes to keeping your books updated or your taxes paid on time, you will lack the time, skills, and patience needed for the job. Or you may find that generic tools just aren’t very useful, while proprietary tools take too much time to learn. What are you going to do?

Solution: Hire a Hawaii CPA or an Accountant!

The federal government requires that small business owners pay their quarterly taxes on time. Rather than bypass this important obligation or suffer financially because of poorly kept records, you can stay on top of your profits, expenses, taxes, and more by hiring a professional contractor like a CPA in Hawaii or bookkeeping firm that specializes in small business record keeping.

We’ve hired a wonderful accountant who does more than just keep the books, she makes good suggestions, keeps us abreast of tax and legislation changes, and readily answers our questions or finds solutions to our problems. She’s worth every penny (and much more) we pay her.

Bookkeepers for Business Success

Your accountant will help you keep tabs on where your money is coming from, how much you are spending, what your tax obligations are, and how profitable you are! She’ll also help you determine accurately how much cash you have to pay bills, meet payroll, order inventory, and keep you on track for your taxes, too!

When you know your business’s financial position clearly, you’ll know much better how to manage your budget! Your tight control on your budget means that you will be able to reward staff (and yourself) appropriately, keep ahead of price rises on your inputs, and calculate your gross and net margins.

At the end of the year (or the quarter), you will be able to plan ahead much more confidently. Even having that extra insight can reduce the uncertainty that every business owner knows each morning, when they open the doors: will customers come today? will the staff do their job well? will I earn enough to pay my bills to stay open?

Paying Taxes

The IRS requires that most small business owners pay their taxes on a quarterly basis. Other tax jurisdictions allow a half-yearly reporting period. However, they all demand their tax payments so if you delay or fail to pay your taxes, you could be fined, causing you to suffer financially.

Your accountant will submit your returns as well as proof of credits and deductions that you claim on your taxes. You may end up owing very little in taxes or perhaps even be owed a refund. You also avoid the worry that you have not met the deadline. In short, a successful business relies on an accurate and reliable bookkeeping system.

It’s an Education, too!

You’ll also learn a lot about the financial side of running a business: no, it’s not just ‘make products, sell and go to the bank’! Your accountant will not only help you keep track of the records, (s)he’ll also advise you to improve your business by looking at your budget and suggesting how to better manage your resources.

In fact, our accountant has been with us for many years, and she’s really knowledgeable about all sorts of things. I wish she’d been our accountant even before we started in business, because her input at an early stage would have helped put our business on an even firmer financial footing.

So put your business on a solid footing from day one: find a local CPA or accountant you like, let her show you how to manage your money, and allow her to do the grunt work of bookkeeping. Now you can return to your passion, running your business!

A Trip to Hawaii CPA approved? Well, you never know! It could happen…!