“Gazintas”? What is that? “Gazinta” is what I call a “goes into” and your balance sheet is full of them. Your balance sheet is dynamic, not static, and a “gazinta” indicates a change in your balance sheet and the reason. Cash going down “goes into” receivables going up or purchasing equipment for cash or funding…
Every business owner has a big dream for their business and wants to make it happen. But when a recession comes calling, many business owners don’t know how to weather the storm. They don’t know where to start or what to do leaving them frustrated and worried if their business can survive. Financial security for…
Coming up on mid-year, you might be reflecting on the first half and are either looking to course correct or finish strong. What are you going to start doing, stop doing, and keep doing? One of the ways to determine this is to look at the key metrics of your business and see if you’re…
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…
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…
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 wants to make more money and maximize profits. The problem is that many business owners don’t know how to manage the finances of their business or what levers to pull to improve overall profitability. One of my business owner clients put it like this: “I never had a problem making money. Revenue…
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…
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