Like understanding the dashboard of a plane to fly it, you need to understand the instruments on your business dashboard in order to have a successful business.
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7 Steps to Creating Your Dream Leadership Team
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.
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Your Balance Sheet Is a Snapshot in Time
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 »
How Happy is Your Banker with You?
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 »