Every business owner wants abundant cash flow in their business. It’s emotional and practical. Cash is like oxygen. Your business can’t function without it. When cash is in short supply, owners become lightheaded, then despondent, then desperate. Cash represents success and lack of it, failure. It’s not a question of “if” cash is in short supply,…
In your business, money has a way of going out just as fast as it comes in. When cash is tight (and it almost always is), many business owners go home at night worrying about lack of cash in their bank account. In fact, 54% of business owners in a recent Forbes survey are losing…
People do business with people they know and trust. But here’s an interesting fact: 8 out of 10 business owners that I talk to have a bank, but not a banker. So, if they don’t know or trust their banker, how do they borrow money? More often than not, they’re starting from scratch, trying to…
Every business owner wants to increase cash flow to have more cash. But it’s frustrating trying to figure out which “levers” to pull to increase cash flow. It shouldn’t be so hard to have a business that brings in more cash than it spends. Recent studies show that the lack of cash flow is the…
Every business owner has a big vision for their company and wants to make it happen. However, when the owner is struggling with making the company bigger, they often get confused or frustrated that it’s not happening. They didn’t teach you how to grow your company in college and there’s no on-the-job training when you’re…
COVID-19 was public enemy #1 last year, wreaking havoc on businesses across the country. Business owners were faced with declining revenue, operating losses, and layoffs. Many business owners who had never been through a recession before were devastated, overwhelmed, and anxious as they dealt with cash flow issues they had never faced. They weren’t sure if…
80% of startup businesses fail in the first 5 years and 50% of those fail because of cash flow issues. I hate to see so many failures because of cash flow when it’s something that can be prevented or mitigated. One major cash flow killer in a business is the slowdown of collecting accounts receivable….
According to a study published by Forbes, 69% of small business owners are kept up at night with concerns about cash flow. It breaks my heart to hear that high of a number, especially knowing there a few things that can help. Let’s call them “sleep insurance”. There are 4 things you really need to…
It’s time to say goodbye to 2020! It’s a new day and a new year. If COVID taught you anything, it’s that when a business is in crisis mode, it often goes undetected for a while. Through no fault of their own, many business owners either lost control or felt out of control when money…
When it comes to running a business, every business owner wants to be confident about how to move forward with a strong financial position. In order to do that, they need to increase revenue and maximize profits. The problem is most business owners aren’t experts in knowing how to manage the financial part of their…
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