The tables were turned on host Bill McDermott, as he was joined by guest host John Ray to celebrate 50 episodes of ProfitSense. Bill answered a variety of questions and topics submitted by ProfitSense listeners, including starting a business the right way, cash flow and profitability-related questions, selling a business, and the emotional aspects of letting go of a business. If you want to hear the Profitability Coach in action, check out this episode! Bill offered numerous insights for business owners and covered a range of financial and emotional considerations.
2016 is in the books and a new year starts. Many of the clients I start working with are so busy working IN the business, they don’t take a step back and work ON the business. Have you had the experience in your business where you can’t see the forest through the trees? Here’s a…
It seems like there are almost as many lenders with financing offers as there are restaurants, but if that’s the case, why is so hard to find financing for your business?
As we close the books on 2016, there are likely some things that went very well and some things you would do differently. We start to look ahead at the possibilities for 2017 and what we might start, stop and keep doing. To get the thought process started, here are 4 things you must include:
We’ve closed several commitments for lines of credit, term loans and mortgage loans for equipment and real estate. When reviewing your term sheets or commitment letters, after you go through the borrower, loan amount, rate and fees, collateral and guarantor section, you’ll end up at a section called covenants.
Many closely held businesses are seeing significant increases in revenue despite slow overall economic growth. With those increases, pressure can be created on people and systems to the point where you’re confronted with finding quality people and investing in systems to support your growth. Those investments of people and systems may have come at significant…