According to an article by Michael Flint entitled “Cash Flow: The Reason 82% of Business Fail”, the vast majority of small businesses fail due to poor cash management. While low employee morale, poor training, bad management decisions, and misguided marketing…
Think of sales as the muscles of your organization and cash flow as its lifeblood. Ultimately, cash flow is the sustenance that keeps you afloat by allowing you to cover your ongoing operational expenses. It primes you to take advantage…
The importance of a company’s financial statements cannot be overstated as they provide vital information concerning business performance and overall financial health. Data from day-to-day bookkeeping entries which manage financial inflows and outflows is used to compile these mission critical…
Managing all of the tasks associated with payroll, including keeping abreast of the ever-changing legal and regulatory landscape, can be both a challenging and time-consuming affair. Setting up a proper payroll system not only streamlines your ability to stay on…
As a small business owner, it’s easy to get swamped with operational day-to-day demands and lose focus of the bigger picture. However, the ultimate success of your business depends not only on meeting the “in the moment” responsibilities, but also…
As a small business owner, it’s important to understand that sales alone aren’t an indication of the general financial health of your enterprise. While there are many metrics and economic indicators to consider, profit margin should definitely be at the…
Revisit and Fine-Tune Pricing If you’re looking to increase cash flow for your business, one area you may need to hone in on is pricing. Many business owners get apprehensive about raising prices due to the fear it could adversely…