Category: Best Business Practices

Need More Cash? It May Be Closer Than You Think

A business owner, or someone who works with business owners’ cash, has a constant and unrelenting problem. Do you sometimes wonder where your cash went? There are several “tricks of the trade” that well managed companies utilize to maximize their cash flow. These cash policies can be used by any business, large or small. Here… Read more »

Family Business | Recipe for Disaster…. Or Success?

Family-owned businesses often present the most challenging situations. If you have ever owned, worked in, or consulted with a family-owned business you know the pain of dealing with the problems inherent in this business situation.  The typical family business splits its time between trying to please the business and please the family.  Usually this is… Read more »

Working Capital — The Good, the Bad, and the Ugly 

Working capital is the excess of current assets over current liabilities and is a financial measure of liquidity or ability of a business to meet its obligations.  Current assets include cash, accounts receivable, inventory and other assets that are expected to be converted to cash within 12 months. Current liabilities include accounts payable and accrued expenses… Read more »

SMART Steps for Your Success

How successful were you in 2016? Did you achieve your personal and business goals? If you are like the majority of busy people, you didn’t write your goals down. There are many reasons not to write our goals but unfortunately most of them are negative. Does this sound familiar? If I write down my goals… Read more »

Manage Your Cash Flow Before It Manages You

I recently saw a survey concerning the degree to which business owners are managing their cash flow. The results might be surprising to many in that only 20% of business owners felt they were in control of their cash flow. This means that over 80% of owners manage their business without having the necessary control… Read more »

The Top 5 Cash Flow Rules

Top Five Cash Flow Rules

When it comes to cash flow, there’s no time for a Top 10 list!  Here are 5 Cash Flow Rules to follow. Why do you need to concentrate on Cash Flow? Simply put, especially for a small to mid-sized business, cash flow equals life, growth, prosperity . . . and survival. You need to free… Read more »

How to do a Business Internal Review | Starting the New Year Strong

Starting 2017

As we approach the end of 2016 and start to look towards 2017, now is a good time for companies to perform an internal checkup to ensure that the fundamentals of running their business are strong. At a minimum, management should look at the following four areas. Internal Control Procedures Companies should test the quality… Read more »

Working Capital Problems? Here Are 8 Signs That You Need To Watch

Working Capital Problems

Does your business have working capital problems? Let’s take a look at what working capital involves. Basically working capital falls into four main areas. These are: Cash Accounts Receivable Inventories Accounts Payable Most companies would say “yes, they have a problem in one of these areas.” Why? Because these factors most affect how a company… Read more »