Time for a review? I am writing this blog in July of 2018 and, if your company uses the calendar year as its fiscal year then this is an excellent time to review and take stock of where you stand compared to your goals. There is still time left in the year to make changes… Read more »
Cash is the lifeblood of business. Without it a company will die. Many companies, especially those that are growing rapidly, face situations from time to time that result in cash shortages that threaten their very survival. For example, if a company finds itself in a situation where it is not able to meet payroll, there… Read more »
Building a business is hard work. No surprise there. But, the key to success is in building the infrastructure that is needed for growth while you are building a business. You need to do both and at about the same time. Business owners are, by nature, entrepreneurial. That means they are visionary and can see… Read more »
There are many financial ratios and calculations that business owners are familiar with. Most of these are basic operating statistics that owners can, and hopefully do, use day in and day out to manage the business. Tangible Net Worth is typically not in that group but, to many owners, it is vital because it’s a… Read more »
This may be the most important and relevant law to today’s businesses from Ron Willingham’s book, “The Ten Laws of Wealth and Abundance”. These last few years have been extremely challenging for business owners that had needs for cash from loans or investors. I think this 7th law reminds us of some fundamental truths about… Read more »
One of the ways B2B CFO® partners help business owners is by taking tasks off the business owner’s to-do list. This helps them be more productive in the quest for new products, new customers, new ideas and giving them more time to focus on the business and longer range planning. Too often business owners get… Read more »
When approaching year end and talking to their CPA about tax planning, business owners often ask “if I buy XXX (insert whatever asset you’d like), can I pay less taxes?” While the tax answer would generally be “yes”, I would offer a further point of discussion. If the business does not need the new XXX… Read more »
Crowdfunding is one of the hottest topics these day among entrepreneurs, with new platforms launching nearly every day. One can fund their current or new business venture with help from friends, family, colleagues, and complete strangers, thanks to a myriad of funding platforms such as Kickstarter, Rockethub, and others (see http://www.crowdsourcing.org/directory for a good list).… Read more »
Establishing priorities is critical to just about every facet of our lives. I have a good friend who gained a lot of wealth by speculating in commodities futures. Over many years he built up a lot of cash flow, but then in a short series of bad trades he lost just about everything in his life, including… Read more »
Many times CEOs and business owners have concerns or anxieties over future cash flows. They have usually seen the rough times when cash levels were so low, they weren’t quite sure how they were going to make payroll. Or, they’ve been hit with an unexpected cash flow surprise that they weren’t counting on… making it… Read more »