Part 1 – Keeping Score: Cash vs. Profit – Equipment Purchases One of the most commonly misunderstood concepts in business is, “Why is my profit position different than my cash position?” Profit and cash flow are both essential elements of a business, but they are not the same thing. To manage your business, you…
How to Use KPIs to Increase Profits & Cash Flow When it comes to understanding your numbers, you may be asking yourself: what are Key Performance Indicators (KPIs), and how do I use them to increase cash flow? Let us provide some insight as we highlight a couple of essential tips for understanding KPIs. …
Understanding Your Financial Statement Business owners always ask us what they need to know when they look at their financial statements: What does this piece of paper tell me? How is my business doing? Sometimes it can feel like they are asking how to run their business. The challenge so many business owners face when…
In our previous session, we talked about implementing a budget and putting together a strategic plan. From there, it is all about executing that plan and turning your plan and numbers into results. Turning “What If” into Results The key to turning “What If” scenarios with your numbers into results is being able to…
Strategic Planning: A Strategic Road Map to Making Smarter Business Decisions Having a strategic plan and set of goals in place is more critical now than ever. With many things out of our control, one of the best practices positively influencing your situation is focusing on what you can control. In this second of a…
Budgeting: A Financial Road Map to making Smarter Business Decisions Understanding and pro-actively managing your business finances is more important now than ever. Two of the best practices positively influencing your situation and focusing on what you can control instead of can’t control are: A Game plan: A set of goals and strategic priorities to…
Did you know there are a little under 90 days left for the rest of the year? That means there are only 3 months left of reaching your goals for 2019 before the new year rolls around. The new year is always exciting and the drive to set and achieve goals is a natural change,…
Do you know how to understand your numbers in a meaningful way? Do you understand the terminology? Do you know your break-even point and is there a company budget in place? Every owner should be able to determine the strengths and weaknesses of their finances by reviewing the numbers of their financial statement. Your financial…
Business owners always ask us what they need to know when they look at their financial statements. What does this piece of paper tell me? What does it mean to me? How is my business doing? Sometimes it feels like they are asking you to tell them how to run their business. The challenge so…
Running a small business can be challenging, and for this very reason you as a small business owner must have a team of advisors to surround yourself with. The advice and guidance you receive from others in managing your business will impact the business decisions you make. This team is called the 5 Star Alliance…
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