Eddy Hood

My name is Eddy Hood. I've coached over 500 businesses on how to become more profitable. I'm the Founder & CEO of Ignite Spot, and I have mad parallel parking skills.
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Recent Posts

Small Business Cost Management Strategies

BY Eddy Hood IN cfo services ON Mar 13, 2018 WITH Be the First to Leave a Comment!


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Ready to Make the Switch to CFO Services? Hire a Virtual Accounting Firm

BY Eddy Hood IN cfo services ON Mar 06, 2018 WITH Be the First to Leave a Comment!



Ready to leverage the support of a CFO without the price-tag of a costly in-house executive? Then it's time to make the switch to CFO services so you can gain professional insight on how to grow your business when you need it, but at a fraction of the cost.


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Is it Possible to Run Your Small Business Without a CFO?

BY Eddy Hood IN cfo services ON Feb 27, 2018 WITH Be the First to Leave a Comment!

Many small business owners are reluctant to hire a business advisor and we get where they’re coming from. But is it realistic to take on the role of a CFO in addition to all the other responsibilities you have as a small business owner? For some, the answer will be yes, depending on their professional backgrounds and the amount of support they have in other areas of the company.

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How Do CFO Services Help Your Small Business?

BY Eddy Hood IN cfo services ON Feb 20, 2018 WITH Be the First to Leave a Comment!



Accounting services not only save valuable time, freeing you to do the tasks that you find most rewarding, but they also allow you access to a professional who can find and fix financial problems before they get out of hand.

In particular, CFO services are especially useful because they provide timely insight so that companies can make positive changes. This is not to say that a CFO can completely save a dying business. Or that you can’t succeed without one. But, what we are saying is that your business can be more successful and profitable if you have a better strategy for spending and saving your resources.

Let’s take a look at the benefits of CFO services and the guidelines for choosing a partner.

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Customizing QuickBooks Online for Your Industry

BY Eddy Hood IN Small Business Accounting ON Feb 06, 2018 WITH 1 Comment




In today’s digital economy, the ability to run your business from the palm of your hand is becoming a necessity. This may include posting to your business social media accounts, accessing your marketing tools and customer relationship management platform. Being able to access your books from any device and any location should also rank high on the list.

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13 Red Flags That Will Get Your Small Business Audited

BY Eddy Hood IN small business tax preparation ON Jan 30, 2018 WITH Be the First to Leave a Comment!



A typical small business owner is deeply involved in the day-to-day operations of their company. They are concerned with things like customer service, innovation, new client acquisition, hiring, conserving resources and making money to keep the doors open. Not surprisingly, when tax season rolls around, it throws a wrench in their entire workflow.


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Sales Tax Considerations for e-Commerce Businesses

BY Eddy Hood IN Outsourced Accounting Services ON Jan 23, 2018 WITH 1 Comment




Annual tax time is almost here. And if you’re an e-Commerce business you’ve already got a number of legal considerations on your plate. Things like:


  1. What payment gateways should I use?
  2. How should I handle trademarks, patents and copyrights?
  3. Are there any shipping restrictions to get products to my customers?
  4. What are the lease requirements for holding inventory in my building?


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Start the New Year With a Clean Chart of Accounts

BY Eddy Hood IN Small Business Accounting ON Jan 16, 2018 WITH 1 Comment






When people think about New Year resolutions, “tidying up the books” may not be the first thing that comes to mind. However, if you want to take your small business to new heights this year and beyond, this is exactly where you should start. More specifically, ensuring that your Chart of Accounts is well-organized should be a priority for any small business that wants to stay financially healthy throughout the year.


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Pros Vs. Cons: Switching to a New Accounting Firm

BY Eddy Hood IN Small Business Accounting ON Jan 09, 2018 WITH 1 Comment




It goes without saying that your accountant should have a keen understanding of who pays you, who you pay and how to maximize your returns on investments. Because your accountant is so intimately involved in assisting with your financial decision-making needs, the relationship should be one that is built on a foundation of trust and transparency. However, sometimes when that level of comfort no longer exists, it may be time to move on.


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14 Questions to Ask Yourself When Shopping for A New Accountant

BY Eddy Hood IN Outsourced Accounting Services ON Jan 02, 2018 WITH Be the First to Leave a Comment!




The relationship with your accountant is one of the most important for business success. He or she is the person you rely on to help you make informed decisions that can change the direction of your business. But what happens when you lose confidence in your accountant? Maybe they are no longer as responsive to your questions or they are distracted with other clients.


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