“The income statement that my accountant gave me says that I am making a nice profit, but I never seem to be able to have enough cash.” Does this sound familiar?
First of all, if you are wondering these things, you are not alone. Here are some common issues that may affect the cash flow of a business:
- Invoices issued are delayed because the supporting information has not been processed on a timely basis.
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Somewhere between 8 and 10 million small U.S. businesses owned by baby-boomers will come to market over the next ten to fifteen years. That doesn’t sound like a seller’s market to me. That is why it is also predicted that only 20% of these sellers are expected to have a successful experience.… Read more >
Imagine this scenario. Your neighbor shows up at your front door one winter afternoon and asks if he can borrow your snowblower. You say “sure”, and proceed to ask if he knows how to use it. He responds, “I don’t think so.” Even though you find this comment a bit odd, you want to be a good neighbor so you provide a quick demo.… Read more >
Business owners can benefit from incorporating entrepreneurial strategies at any stage of the life of their business. Strategies such as conserving cash are always good strategies in the early stages of a business as well as later in its life. Thinking like an entrepreneur will promote responsible thinking. Just because resources are more abundant in a mature business, it does not mean the value of conserving cash is less important.… Read more >
Business leaders do not start their organization hoping to spend a lot of time doing accounting and finance, but rather doing what they do best, filling an unmet need or providing a great new service. All leaders, however, need to have a high level of financial intelligence to know they are making the best possible decisions for their business.… Read more >