12 Profit Improvement Ideas
Here are 12 profit improvement ideas for your business from Andy Hanselman. 1. Choose ‘em Or Lose ‘em! First of all, do you actually know where your profits come from? I don’t just mean, what’s left at the end of the month when you do all the ‘sums’, but who, how and...
7 Ways to Improve Your Cash Flow
Accounts Receivable: How to Collect When the Customers Won’t Pay
Accounts Receivable: Give Credit Only Where It’s Due
First let’s ask, does your firm have a credit policy? An amazing number of professional services firms don’t have one, or if they do it’s relatively haphazard. It’s essential that your firm has a credit policy and that it’s known and understood by every member of your...
Angst Over Critical Numbers — Using KPIs to Manage Your Business
Identifying and interpreting statistics for a business does not need to be a scary prospect. Tracking critical numbers helps monitor cash flow operation as well as profitability, which is all-important for businesses. Critical numbers and the mere mention of them make...Biting the Bullet on Preparing Financial Projections for the Business Plan
While there’s no escape from preparing the financial information for a business plan, a step by step approach will help make the task less onerous. Similar to the overall business plan itself, the financial information should be divided into specific sections to...
Cash Flow & Gross Margin Connection: A Cleaning Firm’s Story
Cash Flow Model Process Map
Cash Management: No Financial Discipline is More Important or Misunderstood
Common Business Ratios and What They Mean
Ratio analysis is a process that incorporates a series of simple mathematical functions and applies them to financial statements or projections to determine fiscal performance and conditions of a business enterprise. They become even more valuable when you compare...Don’t Get Caught with Overdue Accounts
The best way to avoid overdue accounts is to avoid dealing with another firm’s slow paying customers. Almost every customer that’s going to be a problem for you is already a problem for somebody else. Does that mean never taking risks? Of course not. Every business...Early Warning Signs of Payment Problems
Any business that gives credit knows it has to provide for non-payment of a portion of the total amount it’s owed unless it has an absolutely flawless credit policy, but there are early warning signs that can help you know when a debtor business is heading into...Helping Clients Outrun the Recession
With the local economy in the dumps, business development advisors are working with clients to tighten up their defenses. In addition to dispensing advice on how to better monitor cash flow and accelerate receivables, business development advisors are helping clients...
Chris’ combination of academic credentials, career experience and temperament ideally suit his calling as a business development advisor. Clients say he has a mind for business and a heart for service.