Interpreting the Language of Accounting
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Interpreting the Language of Accounting

For my wife’s and my 25th wedding anniversary, our family went to France. Paris, Provence, Chamonix and on the way back to Paris to catch our flight home, we went to the cathedral in Reims. The one with the Chagall stained glass and where Joan of Arc was to be crowned by King Charles in 1429…

Accounting is the Language of Business
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Accounting is the Language of Business

“Accounting is the language of business, and you must learn it like a language…To be successful at business, you have to understand the underlying financial values of the business.”  –Warren Buffett  Time after time in my banking career I met with thousands of business owners who were looking for loans. Frequently, it became apparent that they had…

A Tale of Two Mindsets: Can You Really Improve Cash?
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A Tale of Two Mindsets: Can You Really Improve Cash?

Every business owner dreams of a business with lots of cash and positive cash flow. With this type of business, the owner can reinvest in the business, take distributions, and pay off debt. The options are endless. The problem is, most business owners don’t know which levers to pull in their business to increase cash….

Have You Checked Your Blind Spots Recently?
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Have You Checked Your Blind Spots Recently?

We’ve all had the experience of driving down the road and trying to change lanes, only to realize just in time that there was a car in your blind spot. Or maybe you didn’t realize in time and the day ended much more disastrous than expected. Keeping an eye on our blind spots and checking for things we…

The Devil is in the Details…of Accounting
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The Devil is in the Details…of Accounting

As a business owner, we sometimes don’t know what we should be paying attention to in our financials. It becomes even more frustrating when our accounting is not tracked properly and we’re not sure whether the decisions we’re making are helping or hurting.   One of the biggest weaknesses in a growing business is accounting. Accounting is…

When Do I Add People?
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When Do I Add People?

Every business owner wants the business of their dreams. But sometimes they don’t follow a unified strategy of people and processes to get them there. It can be hard to know when you truly need more hands to accomplish your goals and keep the business running smoothly and efficiently. Leaders often have trouble “pulling the…

Is Your Leverage Creeping Up on You?
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Is Your Leverage Creeping Up on You?

We’ve been talking about how running a business is like baking or cooking.  You need all the right ingredients, in the right proportions, cooked at the right temperature, for the right amount of time.  Every business owner wants a business that’s perfectly “cooked”, with lots of cash flow and profits and collecting receivables well. If you…

How to Stop Leaking Cash
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How to Stop Leaking Cash

We’ve been discussing how running your business is like following a recipe. You need the right ingredients in the right amounts in order for the dish to come out correctly. We’ve talked about profitability, which is a measure of profit relative to revenue. And we’ve also talked about activity, collecting your accounts receivable and turning inventory. The third ingredient…

How Good Are You at Collecting Money?
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How Good Are You at Collecting Money?

We’ve been talking about how running a business is like baking or cooking. You need all the right ingredients, in the right proportions, cooked at the right temperature, for the right amount of time.    Every business owner wants a business that’s “cooked” just right, with lots of cash flow and profits. You can read about the…

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