If a business is doing well or not comes down to leadership. As leaders we must upgrade our leadership skills to learn to become a more effective leader.
Recall that your P&L, or income statement, is like a movie in that it covers a period of time within your business. Your balance sheet is more like a snapshot in time since it is taken on a particular date in time (for example, December 31, 2019). The balance sheet is a record of the… Read More »
Creating a good relationship with your banker begins before you actually need their assistance. It can mean the difference between cash and having no funding.
The lack of cash in a business is the number one problem many business owners experience. The lack of cash can kill your business just like Kryptonite.
The pandemic has caused significant disruption to business. It was like driving a car at 80 mph and slamming into a brick wall. How do you go forward from here?
The P&L (profit & loss), or income statement, is simply a report of your revenue minus your expenses, which equals profit. As my last blog post explains: profit is not cash but the theory of cash. Your P&L is like a movie of a period of time in your business. Your P&L is a lagging… Read More »
What got you started may not be what’s needed to take your business to a new level. As your business grows, so does complexity, and so should your skill set….Read more »
Many business owners tell me they are making money, but they have no cash in their accounts to work with. Too often business owners look at the net income (profit) on the bottom of their P&L and think they are making money and have cash in their business. Reality says otherwise. Remember that profit is… Read More »
It’s commonly believed that focusing on getting new customers is the most effective way to grow their business—but it is also the costliest way to grow….Read more »
We have all heard that “cash is king.” The origin is unclear, but it has been attributed to Pehr Gyllenhammar after the global stock market crash in 1987. At that time Mr. Gyllenhammar was CEO of the Swedish car group Volvo. The maxim is used to reflect the belief that cash is more valuable than… Read More »