This past Christmas my wife gave me a FitBit. I’m a numbers nerd, so the ability to see my heart rate resting and during exercise, number of calories burned and consumed, how much sleep and the quality of it and how much water I drink all appealed to me. I kind of gave myself a…
I worked with a business owner for that past two years that was coming off a dismal year in 2014. They had a break out year in 2015 making close to $6 million and $500,000 in profit and successfully sold the business last year. During one of our coaching sessions he asked me, “Where’s the…
What is leverage? Leverage is the use of borrowed money to increase sales and profits. It is measured as a ratio of total debt/total equity. The greater the amount of debt, the greater the leverage you have in your business. I think I bring a unique perspective to this topic because for 32 years of…
We’re two months in to a new year and the question on many business owners’ minds is how you’re going to grow and by how much? Who are you going to call on and what will your sales people say when they get there? A very smart person once told me sales is really an…
It’s that time of year again where many of us are pulling together all of our items needed for the CPA to prepare our corporate and individual tax returns. Many of my clients had record years last year, so it’s even more important to begin the tax planning process well before year end. From what…
You’ve heard the expression “Cash is King”. So, how do we get cash in our businesses faster and preserve what cash we have? In addition, most businesses have projected growth this year and some are projecting significant growth. Growth requires cash, so getting cash in the business faster becomes even more important than ever. Here…
Generally, starting a business with an SBA loan is incredibly hard due to no historical track record of cash flow and ability to service the debt. Banks are looking for at least three years in business before extending credit. However, it’s possible if you find a bank that is willing to do startups. Many banks…
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:
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