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…
On this episode of ProfitSense, host Bill McDermott welcomed Mark Beal, CEO of Instead of Flowers. Mark discussed the story behind Instead of Flowers and how he came into his role, what makes Instead of Flowers unique, who his typical customers are, why a gifted meal from Instead of Flowers is received with such joy, and…
Every business owner wants to make more money and maximize profits. The problem is many business owners don’t know what they should be paying attention to. They aren’t sure if the decisions they’re making are helping or hurting. Often, they’re confused, frustrated, and sometimes overwhelmed. Every business owner deserves to have a business with a…
For many business owners, it can be difficult to have the vision to see where they want to take their company, how they’re going to get there, or even if that’s the best path for them to take. This is a big energy drain going through various iterations of their company’s future, leaving them tired, confused,…
Recessions are stressful and challenging for any business owner. Even more so when you don’t know if the decisions you’re making are helping or hurting. Every business owner deserves to have a company with a strong financial future. All recessions have their own unique twist; however, they all follow a pattern. Revenue goes down, there…
Recessions are stressful and challenging for any business owner. Whether it’s your first recession or your second, third, or so on, it’s hard to know how to prepare for the worst and whether the plans you’ve made will help or hurt. Every business owner deserves to have a company with a strong financial future. In…
When a recession comes calling, many business owners don’t know how to decide to weather the storm. They don’t know where to start or what to do leaving them confused, worried, and sometimes paralyzed. Financial security for your business shouldn’t be so hard to achieve during times of economic uncertainty. Recently, we talked about how…
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…
Recessions are stressful and challenging for any business owner. Even more so when you don’t know if the decisions you’re making are helping or hurting. Every business owner deserves to have a company with a strong financial future. All recessions have their own unique twist; however, they all follow a pattern. Revenue goes down, there…
As a CEO or business owner, it’s hard figuring out what things to focus on, where to allocate our resources, and how in the world we’ll find the time to do it all. It can be overwhelming. When you’re paralyzed by all of these thoughts and tasks, it’s hard to be an effective CEO. I…
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