As a small business owner, your dream is to acquire financial freedom, not only to pay the bills, but to scale your venture to be self-sustaining and serve as an asset. However, you may find [...]
We are just 2 months away from the new year. How are you getting ready for it? Many of us begin our end of year planning about now. We all faced once in a [...]
Most small business experience cash flow problems at one time. But what really causes a cash flow problem? Accountants tell you not enough cash coming in the business for what you’re spending causes cash flow [...]
How to Strategically Increase Profits in Your Small Business In writing this post I did some research. What I found when searching “increasing profitability” was very disheartening. Why, you might ask? Because everything was a [...]
Business profitability and growth not where you expect? If the only operational KPI’s you review are on your financial reports, then you don’t have the control necessary to influence your business’ performance, resulting in decreased [...]
Reviewing financial statements begins during your business planning process. The last step of your business planning should be developing your financial budget. Your budget establishes the financial targets your team should focused on achieving as [...]
How do you keep the pulse of your business? You must monitor business performance to successfully achieve your business goal, and you must religiously monitor it. We know most owners don't do their financial accounting. [...]
I am not an accountant, I am a business growth consultant. But, I use management accounting information for planning and decision making every day when growing a company. So, I ask you. How good is [...]
Creating Accountability is Critical to Business Growth I talk with small business owners struggling with employee issues all the time. I often hear “Oh, that stuff is just for big companies. We only have a [...]
I saw this article and infographic in Entrepreneur on how to develop a successful business plan and said “they nailed it!” You’ve heard me talk about successful business plans from time to time. It’s not the [...]
For years I have tried to spread the word that business growth is a standardized process as I documented in my post The Search for Business Growth Continues. The main premise is that a business matures through [...]
What would it be worth to know exactly what every person in your business needs to do to achieve your revenue goal for next year? Imagine if every person's objectives were set specifically to support [...]
As I presented in my previous post Succession Planning vs. Exit Planning Which Do You Use?, the primary goal of any succession plan is leadership transfer. So, you can imagine that things can get a [...]
Often the terms succession planning and exit planning get used interchangeably. However, there is a definitive difference between the two. It’s important as a business owner that you understand the difference. Succession planning focuses on [...]
Business owners think about transition planning too late! Many don’t think about transition planning because they believe that they will just sell their business and that’s the end of it. However, even with the sale [...]
While cash flow is a regular topic here, it's been a while since we hit the topic from a finance and accounting perspective. While many small business owners find accounting to be tedious it is [...]
I see small business owners get distracted from their main vision all the time. It’s amazing how many owners have attention deficit disorder (ADD). ADD can be a strength in business. But, it also presents [...]
Is Your Business Ready for You to Leave? Last week I post a question, “What's Your Greatest Challenge in Exiting Your Business?”, on LinkedIn. My intent was to get some feedback before writing the next [...]
The number of people using their personal credit cards for business purpose is growing and that might just prove to be a disastrous financial decision given the risk of mixing pleasure with business. The National [...]
Ok, so it’s the week 3 of the New Year. Did you make a New Year’s resolution for business growth? If so, where are you tracking so far, and will you make it? Most will [...]
