Don’t drown! Know your numbers and save your business
Don’t ever let your business get ahead of the financial side of your business. Accounting, accounting, accounting. Know your numbers.”
Businessman Tilman Fertitta reminds us that it might not matter how great a product or service you offer. If you don’t keep on top of your financials and “know your numbers,”
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Leadership: Are you taking care of those in your charge?
Management is about persuading people to do what they don’t want to do, while leadership is about persuading people to do things they never thought they could.”
This quote from Steve Jobs confirms that he believed there was a difference between managers and leaders. We do, too!
In this post,
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Profit & Loss Statement: How do you Measure Up?
As a small business owner, how do you measure up in terms of revenue, expenses, and net income?
Are you able to quickly answer these questions:
- How much did you earn in sales last week?
- What is the monthly cost of running your business?
We Need to Talk: How to Successfully Handle Difficult Workplace Conversations
Difficult conversations.
If those words make you squirm a little, you’re not alone!
Conflict avoidance happens all the time – sometimes we change the subject, put off a discussion until later, or simply decide not to bring up the real issues. However, healthy conflict is necessary in all relationships.
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Owner’s Equity Time Lapse
In previous posts, we brought the balance sheet into focus and then adjusted our aperture to focus on three important balance sheet analyses. Now we’ll take a closer look at one of the main sections of the balance sheet – Owner’s Equity.
Think of owner’s equity in terms of a time-lapse.
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2020: The Struggle Makes You Stronger
As we prepare to turn the calendar, I think we can all say that 2020 has been a unique and challenging year.
Many of the small businesses we know and serve spent much of the year in survival mode. Their primary focus was often trying to generate enough sales to pay the bills to keep the lights on.
Adjust Your Aperture: 3 Balance Sheet Analyses to Focus On
When we discussed the basics of a balance sheet, we likened it to a snapshot of a company’s financial position: what a company owns and owes at a particular point in time.
The most important element of a good photo is the ability of the photograph to communicate with the viewer.
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Say Cheese! – Bringing the Balance Sheet into Focus
The Balance Sheet provides a snapshot of a company’s financial position – what the company owns and what it owes – at a particular point in time, often at the end of a month, quarter or year.
Business owners, investors, and lenders use the Balance Sheet to assess a company’s financial strength and capabilities.
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Once You Stop Learning, You Start Dying
“Once you stop learning, you start dying.”
We’re not aiming to be morbid with this quote by Albert Einstein. However, it illustrates the danger of becoming stagnant in our quest for learning and complacent in thinking that what we know right now is enough.
Over the course of this year,
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10 Low Cost, High Benefit Ways to Appreciate Employees
These are challenging times for employers and employees alike.
For most, the last several months have been anything but “business as usual.” Employers are putting in extra hours to adapt to government regulations and changing work environments. Employees are either working more or working less, along with balancing changes in their personal lives.
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