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.
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Your Business May Be Bleeding Cash and You May Not Know It
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.
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Relaunching Your Business after Covid-19
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?
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How Your Profit and Loss Statement Is Like a Movie
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 »
Growing Alongside Your Business
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 »
Net Income Is NOT Cash
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 »
Not All Growth Strategies Are Equal
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 »
Cash is NOT King
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 »
Tax Avoidance Hinders Business Growth
Many businesses I encounter are operating in tax-avoidance mode. This is a mistake. Worse, it is a short-term strategy with long-term negative effects….Read more »
Are you struggling to survive in your business?
Many businesses are currently struggling to survive as a result of the pandemic. Often there are many reasons for this condition but one of the most important is the lack of adequate cash flow. Without cash your business is destined to struggle and eventually die. There are only four ways to get cash in your… Read More »