cash flow
Every business ends up short of cash from time to time. But there’s short of cash, and then there’s SHORT OF CASH. In the first case, you’re going to have to wait a few months to buy that new production machine. In the second, you need to figure out some way of covering payroll on Friday. No one needs, or likes that kind of “short.” So, if you are so short of cash that you can’t cover payroll, what can you do to jump that gap, to allow you to get over the hump? Here are twelve things you can
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decision making
The most frequent activity in any business is Decision Making. Most of those decisions we don’t even consider decisions, because the answers come so naturally. We don’t truly “decide,” we just “do.” But when it comes to decisions in your business, what process, what model do you usually follow? Some approaches to decision making involve others on your team. Some involve your just “deciding.” But in any case, you need to get the facts and consider the alternatives. When you do that, you have a basis and a path that you’ve followed to get to your end point. Here are
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a hand dropping dollar bills down a conventional toilet to be flushed away
No one is ambivalent about staff meetings. You either think they’re critical to running your business, or you consider them a total waste of time. Are your staff meetings an effective use of time and money for your company? Think about how long your meetings take. We have one client whose weekly staff meetings sometimes take 6 hours!! When you consider how much that meeting costs, it’s no joke at all. How many people attend your staff meeting and what is their hourly rate? The owner @ $200/hour. 2 Exec VPs @ $80/hour; 3 middle level managers at $60/hour; 4
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Two businessman analyze charts diagrams. Financial analysis statistics reporting strategy development.
Some small business owners have CFOs working for them. The owner is proud that he has prepared his company for the next great leap forward by his strategic staffing decision. It’s not unusual in a small company for the Accounting Manager to become the Controller and then become the CFO. But without the requisite education, mindset and experience, just having more years on the job doesn’t prepare the person for that role. Let’s look at the difference between a Controller and a CFO. At the basic level, a Controller is Tactical, whereas a CFO is Strategic. What does that mean
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