Last week I introduced you to my 4 Financial Pillars of Success™. If you recall these pillars are what I believe are the foundation for your businesses financial success. Last week we talked about pillar one which was Financial Record Keeping. Today we are going to discuss pillar two which is Financial Management . This pillar…
The first month of the year is over and now it’s time to compare how you did last month. But you can’t because you don’t have anything to compare to since you haven’t yet completed your budget for the year. It is important that you prepare a budget, no matter how small or large your business…
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…
One of the main challenges service based business owners have is determining their profitability on a client by client basis. Especially when some of their costs needs to be spread over all of their clients. It’s a calculation the average bear won’t know or understand how to calculate. But it is a necessity, if…
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…
Maintaining a profitable business is no easy task. At least that’s what many business owners think. Often it is assumed that profitability is some pie in the sky that is hard to reach unless you have a big business. Well I am here to tell you that that’s false evidence appearing real. Yep FEAR! Fear…
I am sure by now you have heard time and time again that it takes hard work and consistency to grow your business. So what do you do when you finally get that client or contract or project that will catapult your business into a new stratosphere? A project that is so big that…
It continues to amaze me how many businesses don’t want to create a budget. They would rather operate their business blindly than to create a profitable plan so they can prosper in the upcoming year. Not having a budget can cost you a lot of time and money. Unnecessary time and money. So I am…
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…
During the past year some of my clients along with myself have experienced some legal woes that have had major effects on our bottom-line. These lessons range from small to large. The bottom line is as a business owner you have to be sure that you protect yourself. You have to be sure that you put…
