If you’ve been in business a while you’ve almost certainly encountered Generally Accepted Accounting Principles (GAAP) accounting. It’s the standard way entrepreneurs have been crunching the numbers for their businesses for nearly the past 100 years....
Most successful business managers use financial information, like statements and other special reports, to generate higher profits. If you haven’t been using all the financial tools available to you, here are some ideas to get you started. There is no need to...
Running your service business and making decisions based on the number in your bank account leads to a lot of problems. One of which is known as the Survival Trap. Service business owners fall into the Survival Trap when they start to feel the stress of a low...
Are your business, team or department meetings dull, uninspiring, and inefficient? Do they drain morale, waste time, and focus on the past? Would you like them to be vibrant, engaging, productive, and future-focused? If so, here are some suggestions to supercharge...
Planning to start a service industry business partnership with a friend? Prudence demands looking at the pitfalls – as well as the potential strengths – of such relationships. Here are a few questions to consider. What will my friend/ business partner...
To keep your business solvent through the COVID-19 pandemic, stay focused on the 3 rules of cash flow: 1) Now versus later. Cash now is better than cash later. Decreasing cash flow for many of your customers means you’ll likely have trouble collecting 100% of...
