University of La Verne SBDC Small Biz Blog

  Sensational Organizing Services www.Sensationalorganizing.com Elva Fonseca is the owner of Sensational Organizing Services, a professional organizing service for individuals and businesses. Sensational Organizing Services takes care of all the details including hauling away the unwanted items, decluttering, and procuring the organizational containers. Founded in 2015, the business was doing ok as they were getting clients, but Elva recognized there were still gaps involved with running her business that she wanted to address. “I didn’t go to school to run a business. I just knew how to do my trade and how to serve people, but as far as running a business was operating out of trial and error,” Elva explained. She reached out to the San Dimas Chamber and was eventually referred to the University of La Verne SBDC. The specific challenges Elva had were a steady flow of clients and communicating the pricing of her services with clients. “I didn’t know what my marketing strategy was to get

by Joshua Botello Introduction Many of our small business clients who are looking to get into business, lack the fundamentals in accounting to know how to judge the health of their business. In this first episode of a new series, I will show you the basics of accounting including financial sheets and how to use them. In this video, we are covering our first financial statement, the Balance Sheet. I’ll show what a balance sheet is, the components, and stay to the end on how you can use it for your business.  What is a Balance Sheet  So let's get right to it. What is a balance sheet? A balance sheet is a financial statement that is a snapshot of your business's health. The balance sheet shows your business’s net worth and it is broken down into 3 sections: Assets, Liabilities, and Equity. These 3 sections will always be in balance when looking at this document. This formula is often associated with the balance sheet: Assets - Liabilities = Equity  Typically, you will see balance