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,…
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 business owner wants to maximize profitability and cash flow. But, many owners don’t know where to start or what to do. Confusion sets in. Which levers do we pull to improve profitability and cash flow? The uncertainty leaves many confused, frustrated, and sometimes paralyzed. It shouldn’t be so hard to manage a business. Many…
Every business owner wants to build their company with big profits and good cash flow. But when it comes to how, many owners don’t know where to start or what to do leaving them confused, frustrated, and sometimes overwhelmed. There are only so many hours in the day. Every CEO/business owner deserves a growing business that…
On this episode of ProfitSense, host Bill McDermott welcomed Beth Miller, President and Founder of Executive Velocity, and Eric Handler, CEO of Handler. Beth discussed how Executive Velocity develops leaders, the challenges of succession planning, coaching as a care leadership skill, and much more. Eric talked about Handler’s uniqueness in the market, its values and purpose, its…
This month, The Profitability Coach celebrates our 14th anniversary. Started in 2009, we went from helping business owners negotiate bank loans at the height of the Great Recession to helping them interpret their financial statements, taking them from financial confusion to financial clarity, and grow into the company of their dreams. Every business owner has…
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…
When it comes to adding people to grow a business, many owners are reluctant due to the increased cost, and then are frustrated and confused on how they can drive revenue and profitability higher without adding to staff. Further, owners don’t understand that when they don’t focus on building a culture based on the company’s…
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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