3 essential ways to get comfortable with finance
As a business owner, you’re the person primarily responsible for your company’s finances. Not your bookkeeper. Not your accountant. You.
Managing Money
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Manage your cash flow to increase profit
In small businesses, it’s not uncommon to accrue millions of dollars in revenue each year without actually producing any meaningful cash flow. You may very well know how frustrating it can be to show profit on your income statement, but not have money in the bank. One part of this issue is a fundamental misunderst...
How to build financial resilience in your business
You might be frustrated—or even frightened—by the economic changes that are currently impacting nearly every business and family. The truth is that economic cycles are a reality of life. So what adjustments can you make to protect the health of your business given whatever changes are happening? Cutting costs may ...
Our top 5 business finance blogs of all time
When facing the challenge of understanding—and eventually mastering—your business finances, where do you even begin? That's the question we hear from business owners everywhere, and we try to help answer it with the articles we share on our blog. Our five most popular financial blogs will give you an idea of how t...
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How to price your product or services
When it comes to pricing products or services, most small business owners don’t know where to start. Perhaps you’ve had the experience of basing your prices off competitive offerings in your market or by adding “x” percent to cost of production—and then not looking back to evaluate or consider the systemic or holi...
Work ON it: From financial crisis to profit
Most business owners don’t start off with expert knowledge in business finance. In fact, many owners we speak with still manage their books out of a checkbook register. (If this sounds like you, don’t worry—you’re in good company.) There are plenty of things that hold people back from diving into finance—fear, dis...
The unhealthy financial behaviors that damage your business
Business owners aren’t finance experts. It’s a sweeping statement, but as a business coach and business owner myself, I know the truth of it. One of the beautiful things about owning a business is that you don’t have to be an expert in everything—you just need to have the right experts at your fingertips. This is ...
The three relationships you need to build your Finance System
Business owners aren’t finance experts. It’s a sweeping statement, but as a business coach and business owner myself, I know the truth of it. One of the beautiful things about owning a business is that you don’t have to be an expert in everything—you just need to have the right experts at your fingertips. This is ...
3 tips for simplifying your PPP application process
Last April, like many of you, I applied for the first round of Paycheck Protection Program (PPP) funds. My company had taken an immediate hit in revenue from the shock of the pandemic, and there was no certainty that it would rebound anytime soon. The only point of comparison I had was the 2009 financial crisis, a...
Create a profit plan for your small business
In my last five years as a business coach, only two of my clients have had an operational budget in place when I started working with them. Let that sit for a moment. Of my dozens of clients, most of whom run successful businesses that are turning profits, only a fraction of them had any idea how that profit was h...
Use this wake-up call to build a stronger financial future
In the current economic downturn, small businesses everywhere are suffering and too many will tragically close their doors permanently. For many business owners, it’s been a sobering lesson: Ignoring the practice of reviewing your company’s financial metrics is a high-risk decision with serious consequences. Numbe...
8 steps to effective negotiation
One of the essential skills for any business owner is negotiation. How well you can negotiate a favorable agreement or deal for your business makes the difference between growing to achieve your goals and not. There are so many different types of relationships—ones with your employees, your vendors, your customers...
One business owner’s experience: Applying for Paycheck Protection Program funds
Just like so many of you, my company’s been hit hard by the coronavirus crisis. Since the end of February, I’ve woken up every morning relieved that today wasn’t the day I had to ask our Team to take a pay cut. Layoffs have been out of the question except as the last possible resort—and I’m just glad we haven’t re...