We’ve all heard it a million times “Cash is KING!” But proper financial management is the difference between surviving in business and being put out of business. You must understand the time value of money and manage your finances carefully. Just like you should have an emergency fund for your household, you need one for […]
The 5 Biggest Mistakes That Can Ruin Your Company’s Cash Flow
Guest Article Cash flow is one of the most important aspects when it comes to running a business. As a business owner, you’re always trying to balance the money coming in versus the money going out. While it is important for you to be making a profit, it’s even more crucial to determine whether your […]
7 cash flow management tips every small business owner should use
Cash is king. If you don’t manage your money well, you could find yourself out of business quickly even if you have plenty of sales. I’ve written 7 of my best money management tips that every business owner should use to run a successful business. Use a Budget: Every Fall you should develop your new […]
10 Ways to Manage Your Cash Flow as Your Business Grows
One of the earliest lessons I learned in business was that balance sheets and income statements are fiction; and that cash flow is reality. You must learn quickly that metrics like profits, sales, or net worth don’t impact the day-to-day operations of a company as strongly as cash flow does. But some business owners don’t have […]
Five Secrets to Massive Cost Cutting in Your Small Business
Guest Article While most entrepreneurs think that the number one way to increase profitability is by increasing sales, this could not be further from the truth. In over two decades of being a business owner and coaching other CEOs, I have seen that in 80% or more of cases, cost cutting is by far the […]
How To Get Control Of The Numbers In Your Small Business
Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9 pm ET. This is excerpted from my recent interview with Dawn Fotopulos. Dawn is an Associate Professor of Business at The King’s College in NYC, the award-winning author of Accounting […]
5 Obstacles Facing Your Small Business Right Now
It’s no secret that small business owners face obstacles that perhaps don’t faze their larger competitors. A big company with its own legal department can stay apprised of EEOC and Department of Labor rules, and a company with its own HR department will know how to determine the salary to offer a new entry level […]
How to Survive in Small Business with Limited Capital
It’s not easy running a small business with limited capital. If you are just starting out a new business venture, the challenges are even greater. Limited capital is the single biggest factor in determining how much you can, and cannot do to meet the needs of your customers. Having limited funds does not need to […]
How to Never Run Out of Cash
In the age of easy credit, having cash on hand can often seem old-fashioned. I say beware of such an attitude. The old saying “cash is king” is as relevant today as it ever was, and as an entrepreneur, it’s imperative that you always have a significant cash reserve to keep your business afloat. […]
7 Ways to Manage Cash Flow
There are so many unique aspects to owning a business. While we can discuss all the ways in which you can gain and retain clients, it’s all for naught if you don’t know how to manage your cash flow in your small business. It’s important to understand the systems you should have in place in […]