Managing money effectively is a crucial skill for anyone, whether you’re an employee earning a paycheck or a business owner navigating the complexities of running a company. Every day, we work hard to generate income, but the real question is: how do we manage that money wisely to ensure financial stability and growth? The concept…
Creating a solid financial plan for your business can feel overwhelming, especially when juggling budgets, cash flow projections, and profitability goals. But what if you could combine these financial tools into one powerful strategy? That’s exactly what a profitability plan does, and it’s one of my favorite methods to help business owners gain clarity and…
As we enter budget season, it’s time to take a hard look at our expenses and find ways to increase profitability without raising prices. Let’s explore a four-step process that can help you identify and eliminate unnecessary costs from your business. Understanding the Importance of a Cost Audit Before we dive into the steps, let’s…
Running a business mean you are constantly running around doing everything in your business. That’s what CEO stands for – Chief Everything Officer. In order to manage it all you need to have a workflow within every department; not just your operations. That is where many business owners fail. They create processes around their main…
Managing cash flow is no easy task. Especially when you are trying to run a growing business. There are so many things to think about, such as managing staff and running the operations. And not to mention the ongoing business development. So how do you keep your cash flow tight and in the black? Well…
In order for your business to grow you need to be monitoring your metrics. You cannot expect your business to magically take flight if you have no idea what is going on in it. And by going on I don’t mean just in operations because that is just one side of the house. You need…
Small business owners struggle with one thing consistently – cash flow. And cash is the life blood of your business. Without good cash flow management skills your business will suffer because you will miss due dates on bills and you won’t be able to make payroll. And as a result you will be completely stressed…
So I have shared quite a bit with you about how to manage your finances and creating budgets. But what you really want to know is how to increase your bank balance – permanently. So here’s the one sure fire way to increase your bank balance. SAVE Yep that’s it. How you ask? The same…
Operating a business requires continuous cash inflow and outflow. And I’m not necessarily talking about no small potatoes. Sometimes there are some big ticket items weighing us down and we harbor them and hold them close and then implement other processes that end up hurting us in the long run. These processes are not written…
Managing your finances yourself can be a very daunting task. If it’s not your wheelhouse it can be overwhelming, confusing and frustrating. And when those feelings set in, often times everything gets murky and transactions aren’t coded properly, if they are recorded at all. So here are 7 do’s and don’ts that you should heed…
