Roy is the owner of a small company that sells and installs hot tubs. While he has tripled his sales in just a ten month period, he now doesn't have enough cash to keep the business growing. How can this be? The simple answer is that many of Roy's customers haven't paid their bills on time, and he lacks a system t...
Learn to manage cash flow and produce consistent financial results.
How do you decide what to charge for your product or service? The specifics will be different for every business, but it comes down to one thing: VALUE. If your customers can see the value of buying your product or service, they'll happily pay the price. If they don't see that value, it makes little difference how...
“Really, my business is fine. I just need to increase sales!”
Like it or not, money is a subject that seems to be ever-present in the mind of the business owner. We talk about it, we think about it, we worry about it. We plan for what we'll do when we have plenty of it, and we reveal our fears, frustrations, and resourcefulness when we don't have enough of it.
In this podcast, we talk about four ways money moves through your business.
Are you committed to shifting luck into certainty? We are.
Cash = Opportunity
It can always be found cheaper online.
Great leadership requires the ability to control what is in your power to control, to give people clarity, direction, and a sense of security, to chart a course and set goals your employees believe are attainable. As we begin a new year, it is your job as the business leader to set and communicate expectations for...
"I need more sales." If I had a dime for every time I heard that from a client… Well, I’d probably have $20 by now. But seriously, the issue of sales (or lack thereof) comes up all the time; most often from clients who are just beginning the EMyth Coaching Program.
If you're like most small business owners, you started your business because you wanted more personal freedom and you possessed valuable knowledge and skills in a specific industry or profession. You didn't however start with a clear picture of the business you were going to create. Instead, you went out and did w...
Do you know how much cash you have? Do you know how that cash flows through your business? The amount of cash you have on hand is one of the most important metrics for the growth and survival of your company. As a business owner three of your primary financial responsibilities are:
When your business experiences or anticipates big growth, it will impact every area of business. Big growth means big changes. In addition to the logistical and management issues that come up, it's also likely that you'll need to raise some (or a lot) of money.
As a business owner, you think about money a lot. You talk about it. You worry about it. You plan for what you'll do when you have more of it.
So I followed my own advice. As I suggested previously, I took out a one hundred-dollar bill and placed it in an honored location on my desk. At various times I put that ‘Benjamin’ into my hand and considered the feelings that a one hundred-dollar bill engenders and pondered, “why don’t I line my wallet with them?...
There are two important steps required to achieve effective cost reduction in your business. The first step is to have a well thought-through strategy in place. The second step is to understand the enormous impact your leadership has on your business.
Few things will kill a business faster than lack of cash. Even once profitable businesses can fail when they run short of the cash they need to sustain operations.