Every business owner has a big dream to sell their business, achieve financial freedom, and live life on their terms. But many don’t know where to start or what to do. Recent studies show that business owners have a concept of the value of their business, but less than half of those have obtained an…
On this edition of ProfitSense with Bill McDermott, Jonathan Strack and Eric Cooley from Strack, Inc., and Chris Smith, CB Smith & Associates, joined us for a discussion on building their respective businesses and adapting to the digital age. Jonathan and Eric talked about cultivating a company culture, getting outside their comfort zone to recruit talent and…
Every business owner wants to increase profitability. But many CEOs/business owners don’t know where to start or what to do. Business financial literacy classes are something that many of us didn’t take in school and there’s limited to no on-the-job training to help you get there. Every business owner deserves to have a business with a…
Every business owner wants to maximize cash flow and profitability. But I’ve found that while business owners are excellent at their craft, they often struggle to understand and manage the financial side of their business. They don’t know where to start or what to do. This leads to making common mistakes that when left unchecked,…
Every business owner has a big dream for their business and wants to make it happen. But if your marketing is inconsistent, or you’re not prospecting for new business and suddenly a few loyal customers leave, you may be losing momentum. This loss of momentum can be confusing and frightening because you don’t know where to…
On this episode of ProfitSense, host Bill McDermott welcomed Vivian Dempsey, Partner at Wilson Lewis, and Scott Williford, CEO of vLink Solutions. Vivian talked about Georgia’s personal income tax rebate, the advantages and disadvantages of an S Corp, the IRS tax inflation adjustments for the tax year 2023, and much more. Scott discussed his experience in…
Cash is to a business what oxygen is to a person. A business can’t “breathe” without it. 80% of businesses fail within the first 5 years in business and the number one reason is a lack of cash (capital). But the lack of capital is not the cause. Many businesses need sufficient cash to figure…
Every CEO/business owner wants to maximize cash and profitability to maximize shareholder value. However, many don’t know where to start or what to do, which leads to confusion and frustration. It takes a guide with a plan to identify the hurdles getting in the way. Doug Tatum’s book, “No Man’s Land”, chronicles where mid-size companies…
Every business owner wants to build and maintain a good reputation in the marketplace by providing great customer service that adds value to their client base. However, when it comes to building a brand that is impossible to resist, many business owners don’t know where to start or what to do, leaving them confused and…
Monitoring employee performance and holding people accountable makes many business owners uncomfortable. Many owners don’t provide job descriptions for their coworkers and spell out functions for each position. This leaves everyone confused and frustrated. Owners ask why this person doesn’t perform and employees are asking what does the boss expect them to do. Patrick Lencioni…
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