I can recall a time I was driving my car on the interstate, a daily occurrence for most Atlanta residents. Traffic was moving surprisingly well, and I needed to move over one lane. I put my signal on, looked in my side view mirror and started to move over. In that moment, I heard the…
You may have already put the finishing touches on your 2018 forecast. However in case you haven’t, here are a few things you need to know: 1. Look for tendencies in your forecasting to gain insights on things you can do to improve this year. Did you overestimate revenue and profits? Maybe you were a…
Soon it will be time to close the books on 2017 and your thoughts are shifting to 2018. Likely, there are some things that went quite well, but if you had a do-over, there are things that you may have done differently. To stimulate your thinking towards next year, here are 4 critical things to…
KPI’s, key performance indicators are critical for managing your business. You can’t manage what you don’t measure, right? Goals allow us to stay focused and manage our businesses effectively. Here are 4 KPI’s for you consider: Liquidity– You may be profitable, but how much cash do you have in your bank account? Measure your cash…
It’s that time of year again when we begin to close the books on the year and look ahead to what the new year might bring. The assumptions you use are critical to your profit and loss and balance sheet forecasts. This is especially true if you will use these projections to attempt to obtain…
Kaizen is the Japanese word for gradual continuous improvement. It simply means change for better. So, how does this apply to you and your business? As you begin to make plans for 2018, I’d like to challenge you to commit to making a series of 1% gradual continuous improvements in your business across the board….
Why is funding losses in your business with debt a bad idea? First, there are always two options when funding your business, one is with debt and the other is with equity. But many business owners would prefer to take the money out of their line of credit than take it out of their own…
Where’s the cash? Several years back, I had a client ask me if I’ve made $500,000 in profit why isn’t it in the bank account? A very good question I’m sure many of us have wondered. While profits are great, they don’t cover payroll, other operating expenses, bank loan payments and owner’s distributions. Cash does….
We’ve had a lot of interest in the prior line of credit (LOC) articles on choosing the right type of LOC and mistakes to avoid, so I wanted to continue discussing that topic since it seems to be pertinent. Watch out for these “gotchas” in your line of credit commitment letter. 1) Your commitment letter…
One of my mentors told me a long time ago, “the path of least resistance is what makes men and rivers crooked.” This is true when it pertains to getting a line of credit for your business. Sometimes our path of least resistance is obtaining a line of credit from a bank. Other times, there…
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