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Sales: You Can’t Make It Up Next Month …

August 30, 2014

If you are below budget in sales this month, you can’t make it up next month regardless of how good sales are then. A football coach can’t “lose these four quarters but make it up next game.”  A loss is a loss. You can never make it up. Ever. That is because expenses happen in […]

Cash In: Being an Absentee Owner

August 25, 2014

More than one owner has had the idea to hire a manager and let them run the business while the owner retires and continues to take money out. Well, that’s wishful thinking for it rarely works. I don’t say it never works, but I’ve only seen it succeed a couple times in the last twenty-five […]

Do You Worry as an Owner?

August 24, 2014

Worry, for the most part, is fear of the unknown. An owner wrote that he was having the best month in the last five years but still worried and that he felt he was his own worst enemy. That’s because, he worries when sales are bad. And then still worries when sales are good because he has […]

Creating a Cash Flow Budget

August 23, 2014

Many times owners are stressed (worried) because we have little in the way of days’ cash on hand and/or a current ratio and we don’t seem to have a handle on our future. That can be relieved by creating a cash flow budget. Begin by calculating your current ratios and day’s cash on hand from […]

Cash In: Business Sale Threats

August 17, 2014

I spent half of last week doing a “business sale threat” analysis with owners who are ready to sell their $1.5 million printing business. What’s that? Well, it’s an onsite visit focused on the issues that will either keep the business from selling or selling for less than it should. (Yes, I’d love to come […]

Cash In: Grow Business to Accommodate Successors

August 9, 2014

Your business has to grow substantially now if you intend to accommodate more than one successor in an internal business transition. Stated another way, if you have two offspring who are going to take over the business, the business has to be twice the size than when it just accommodated you. And here’s why. If […]