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 the management accounting for your growing business? If it’s not in good shape, chances are it slowing your growth! Many ... Read More
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 extremely important if you ever want to have success with your business. The reason cash flow is so important for ... Read More
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 Federation of Independent Businesses has found that the percentage of small business entrepreneurs using their personal credit cards to incur ... Read More
If you’ve accumulated a huge amount of unsecured debts, you need not worry as you can opt for business debt consolidation through which you can finesse your business finances. If you’re a business owner, keeping careful track of your business finances is one of the most important tasks that you should do in order to ... Read More
Getting business funding is always difficult. But, add the banking challenges of recent years and it only makes it harder! The truth is banks are still lending. And, there are many other sources of funding that can help you fund your business growth. However, all of these sources will require you meet certain criteria before ... Read More
Contributed by Jacob Thompson A mobile merchant account allows for a business to accept mobile payments through a cell phone or mobile device. Here are just five ways accepting mobile payments can help expand your business. 1. Billing Headaches are a Thing of the Past If you sell goods or services on the go or at ... Read More
Poor cash flow is a critical concept that many entrepreneurs don’t fully understand. I believe this is because they usually hear about it from accountants that try to explain it in accounting terms. Poor cash flow is an operational issue. And, you fix it by tuning your revenue engine. In the post “Cash Flow – ... Read More
Many people are afraid of factoring, but frequently that’s because of the stigma often attached by the banking community to this form of financing. There actually are many very positive aspects to factoring. See if any of these could help your business: Elimination of bad debt – a non-recourse factor will assume the risk of ... Read More
Accounts Receivable Factoring Factoring may not be the world’s oldest profession, but not far from it. This financial practice can be traced back to theRoman Empire. Factoring was the dominant form of finance in the American colonies before the Revolution (mainly textile firms). Over the past few decades, consolidation has created two distinct types of ... Read More
Entrepreneur financial problems are one of the biggest challenges they face. Usually it’s because they don’t have enough financial resources to accomplish their business goal. This is because a business cannot exist without financial resources, but many businesses don’t have enough to accomplish their growth objectives. There are several reasons for entrepreneur financial problems, but ... Read More
Cash flow is the life blood of any company. But many entrepreneurs don’t understand the concept. Most people believe it’s a financial term so they avoid it like the plague! What is cash flow? Merriam-Webster defines cash flow as “Cash flow is simply the cash expected to be generated by ... Read More
In a previous post entitled Avoid Blowing Your Revenue Engine I showed you the importance of calculating your maximum capacity and how it can help you make better operational decisions. Maximum Capacity is important to understanding where the sales function should be focused and if your pricing is set properly too. The first step is to ... Read More
