Financing Options for your Business
With the seasonality of most home improvement contractor businesses it is not surprising that many business owners feel the pinch of slow cash flow and a smaller than comfortable amount of cash in the bank at some point or another. This is the time when you wish you had access to more working capital or […]
3 Compelling Reasons to make a Budget for your Business
I talk to a lot of business owners every week. It surprises me that more businesses don’t have a budget or as I like to call it, a Profit Plan. I just spoke with a business owner this week and I was pleasantly surprised to hear him tell me that he had his budget all […]
Chart Your Course to Business Success – 10 Week Intensive
Take 10 weeks to leap forward in your business education. This intensive 10 week program is designed to help you learn the important fundamentals of running a best practices business and get you ready to kick off 2012 and make it your best year ever! This course is a condensed version of our On Target […]
Top 10 Cash Flow Tips
Know your business’ balance sheet thoroughly. This may sound obvious, but, as your accountant can confirm, many business people don’t know how cash flow works and its significance to keeping their operation afloat. Many owners focus on their business’ profit and loss statement alone. It’s a potentially fatal mistake because healthy profits can mask an […]
Get On Top Of Business Forecasting
Want to stay in business and be profitable in this economic climate? The answer is to plan, but it is difficult to think in terms of three to five year plans these days. So focus instead on the next 12 to 18 months and use “what if” scenario planning and stress testing along the way. […]
Make Bank Reconcilations Easier Using the “Locate Discrepancies” Feature
Over the next few months I’m going to give quick tips about the bank reconciliation feature in QuickBooksTM. There are a lot of wonderful tools that are part of the bank reconciliation feature and learning just a couple of them can make your life a little easier. One of the little known features in the […]
Protect Yourself From Internal Fraud
Smaller enterprises are at the greatest risk from fraud, particularly from within the organization. They’re the least likely to have dedicated security personnel, and most likely to lack adequate internal systems and controls to prevent fraud. You can minimize your exposure to fraud by learning how it’s perpetrated in businesses like yours. There are also […]
How to Look Good to Lenders
Businesses borrow money for a number of reasons. Additional capital may be needed to increase production capacity or to open a new office location. It might be necessary to borrow to expand into a new market or to upgrade the business IT facilities. Whatever the reason, borrowing money involves the need to favorably impress the […]
A Strategy For Managing Business Bills
A business depends on its cash flow to pay its bills. Cash flow can fluctuate greatly in smaller enterprises and there are often times when payments have to be made selectively. This is a strategy to serve as a general guide for paying bills at any time; it is especially useful for times when extra […]
Cash Management Pays Dividends
Managing cash is one of the most important tasks for any business owner and even if it’s not as glamorous as sales and marketing it is the job that makes sure the bills keep getting paid on time. The cash position of a business at any time is easy to determine if you know just […]