Cash is the fuel for your business, so it’s important to know how much to have on hand. While the recommended practice is to maintain reserves equal to 3-6 months of operating expenses, in real small business circumstances, a “one-size-fits-all” formula may not be the best fit for your business. The better approach is to… Read more »
The current economic expansion has now exceeded a decade in length, which is a long one by historical standards. Of course, this recovery comes on the heels of one of the worst economic recessions in our country’s history. While the economy in most sectors remains reasonably strong, there are mixed signals on how much longer… Read more »
No business owner wants to face a cash flow crunch. Unfortunately, many entrepreneurs find themselves in a sticky situation because of unforeseen issues with their receivables. To keep your receivables flowing smoothly, I recommend a short article from CEO World. You’ll learn the three cornerstones of receivables management that will set your business up for… Read more »
To keep your business ahead of the competition, you’ve got to know your daily cash position. The more efficiently you are able to process this metric, the more time you will have to assess what it is strategically saying. But establishing a cash position can be complex and labor-intensive, especially for larger companies. Thankfully, new… Read more »
As business owners, you are tasked with acquiring new customers, managing your team, and launching new products. Let’s face it. Most of us simply don’t have time to focus on our financial statements daily—or even weekly. However, businesses need an effective system for conducting operations, complying with tax laws and providing essential financial information—especially to… Read more »