Every business owner wants to make more money and maximize profits. The problem is many business owners don’t know how to manage the finances of their business leaving them confused, frustrated, and sometimes overwhelmed. They’re not sure if the decisions they make are helping or hurting. Every business owner deserves to have a business with…
Business owners dream of growing their business and making it the best it can be, but oftentimes they struggle to follow a unified strategy to get there. They’re unsure which areas to focus on to have the biggest impact and are left confused and frustrated. Profitability, not profit, is a key ingredient to a successful…
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, 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…
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…
You might be in a growth phase of your business. Growth always requires cash and cash is generally at a premium. Further, there are some liquidity traps to be avoided as you grow. Here’s 3 to watch out for: 1) Excess build-up of accounts receivable It’s normal for your receivables to increase when you grow. However, if…
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…
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