The Business Owner’s Cheat Sheet: What Are My Financing Options?
It seems like there are almost as many lenders with financing offers as there are restaurants, but if that’s the case, why is so hard to find financing for your business?
5 Things You Must Know About Loan Covenants
We’ve closed several commitments for lines of credit, term loans and mortgage loans for equipment and real estate. When reviewing your term sheets or commitment letters, after you go through the borrower, loan amount, rate and fees, collateral and guarantor section, you’ll end up at a section called covenants.
3 Things You Must Know About Acquisition Financing
I have several clients that are involved in business acquisitions. With a sluggish economy, many are attracted to the opportunity to acquire business versus grow organically. If you’re deciding to buy a company, here are 3 things you must know about financing the acquisition.
5 KPI’s to Measure the Productivity of Your Business
I’m a big believer in managing your business using your balance sheet first, then your income statement. However, simplifying that by using KPI’s (key performance indicators) can help you get a quick view of your financial landscape and determine your financial health at a glance. Here’s 5 KPI’s that every business owner should use. These…
Teaching Financial Statements to Drive Performance: Part 1 The Balance Sheet
We believe it’s critical for every business owner to know how to manage money once it’s in the business rather than just making sales. And it can be even more impactful if all employees are empowered to know how the decisions they make affect the bottom line and top line of the business. In order…
4 Ways to Tell if Your Financial House is in Order
I thought this would be a good follow-up to my last post “5 Things to Know Before You Borrow.” Many of us get an annual physical, the doctor checks us out to see how things look like cholesterol, blood pressure, heart rate and respiration and compare them to last year. We want to manage our…
5 Things to Know Before You Borrow
A very successful business owner and mentor of mine used to say, “The path of least resistance is what makes men and rivers crooked.” In your business, the path of least resistance is using a credit card or some other form of borrowing. Before you know it, the amount of debt has piled up, the…
3 Things to Know About Key Performance Indicators
If you’re like me, you’re reflecting on 2015 and setting the table for 2016. What are you going to start doing, stop doing and keep doing? One of the ways of determining this is to look at the key metrics of your business to determine if you’re on the right track for success or what…
Why Your Balance Sheet is More Important than Your P&L
Many business owners look at their profit and loss statement and determine if they’re profitable or not. How is revenue tracking against last month or last year? Any changes in gross or net profit margin? If I’m making money then everything must be ok. There is some validity to that way of thinking.
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