Need more income in your service business? Consider the following ideas to save time, improve profit, and make your business more successful. 1. Develop tight controls over billing and collections. To speed up cash flow, reduce the time between shipping your product...
How many family businesses can you name that have been around for many generations? Have you ever wondered what they have in common? Most businesses that continue to prosper as they pass from generation to generation have a common denominator – a business...
When you start a business, you have many decisions to make. One of those is the method of accounting your business will use for reporting income and expenses on your tax return. It is an extremely important decision. With few exceptions, the method you choose can only...
When you apply for a business loan, your request must meet certain basic requirements. Your banker needs to have: A written request for a specific amount of money. A detailed explanation of the use of the funds. A projection of how and when you will repay the loan. A...
The following sequence of events is common to a new and growing business. The Short-Term Squeeze You start your business with a limited amount of capital and an abundance of good ideas and ambition. The sales activity has been adequate to produce a net profit. Your...
