Recessions are stressful and challenging for any business owner. Whether it’s your first recession or your second, third, or so on, it’s hard to know how to prepare for the worst and whether the plans you’ve made will help or hurt. Every business owner deserves to have a company with a strong financial future. In…
Every business owner dreams of selling their business one day for a lot of money then retiring with a home on the beach or traveling the world. However, when it comes to actually selling the business, many business owners don’t follow a unified strategy, leaving them confused and frustrated because they realize running a business…
Every business owner has a big dream to sell their business one day and see it continue on successfully. But, when that day comes, we realize that we know how to run a business, but we don’t know how to exit a business. This thought leaves us frustrated, confused, and sometimes overwhelmed. Exiting a business…
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…
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,…
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…
There isn’t a business owner who doesn’t want to maximize cash flow. But managing cash flow is hard. You don’t know what you should be paying attention to. You’re not sure if the decisions you’re making are helping or hurting. I get it. So, it’s time for some ugly truth about cash flow. Your business…
KPI’s, Key Performance Indicators, can change based on what management is looking for our in their performance. The consequence of focusing on certain performance indicators can easily cause a business owner to get more granular in their focus or the positive result in a management change in another. Here’s two stories of how this might…
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…
Trying to get a line of credit? Frustrated with the bank process? You’re not alone. Navigating the banking landscape can be a very time consuming process. There are two questions you need to answer before you start: Are you bank ready? Are you bankable? What is bank ready? Bank ready is nothing more than being…
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