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To find cash in your business- staple yourself to an order

By Anna Masker In standard31st March, 2009

The first lesson that most start-ups learn is the difference between profit and cash flow. Even established businesses lose sight of cash flow when times are good, since high profits tend to generate sufficient cash. It takes tough times like these for businesses to take a good hard look at how cash is used and

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In awe of entrepreneurs

By Anna Masker In standard30th March, 2009

Many of my colleagues and friends are entrepreneurs. Many have been impacted by the recession facing limited financing, declining sales and tight cash flow. Many are undaunted that they will make it through. Entrepreneurs have started their businesses because they seized an opportunity. Many took the jump from cushy corporate jobs with long hours and

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Shaking the money tree– finding cash in your business

By Anna Masker In standard15th March, 2009

When you are short of cash, do you immediately think of going to the bank for more money?  With banks tightening standards these days it might be best to look inside your business for cash that is tied up in day to day operations. Remember the saying money doesn’t grow on trees?  Well, let’s pretend

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Unionization– easier with EFCA

By Anna Masker In standard27th February, 2009

Buried in all of the financial news is a new law that could have tremendous negative impact on small business owners nationwide.  It is called the Employee Free Choice Act (EFCA), and it would allow workers to unionize very easily and relatively quickly if passed. I recently attended a seminar by Jackson Lewis,a law firm

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Where did all my money go? Having a cash plan

By Anna Masker In standard29th January, 2009

The single most important financial step that business owners must take in 2009 is having a cash plan, also known as a cash flow forecast. Why should you go the extra step and forecast your bank balance? One word– LIQUIDITY. Never in recent history has cash been so tight for businesses. Between late-paying customers, banks

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Planning is more than a sales goal.

By Anna Masker In standard23rd January, 2009

One mistake I see business owners make is setting a sales goal and then considering their plan for the year complete. They are, frankly, selling themselves short (pun intended). A good plan includes sitting down with a pen and paper or (gasp!) Excel spreadsheet and figure out how many widgets you’ll have to sell or

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And they’re off! Setting your strategy for 2009

By Anna Masker In standard7th January, 2009

The beginning of the new year always makes me think of the the start the Kentucky Derby. Some horses eagerly line up, others cajoled, and others are pushed into the starting gates. You can feel the energy and anticipation in the air as the final gate closes behind the last horse. Everyone holds their breath

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Even small businesses need an emergency fund

By Anna Masker In standard30th December, 2008

With the extreme downturn and credit crunch, many of my clients have found themselves needing additional cash to keep their operations going. Yet some of them found their credit lines reduced, credit cards cancelled, and new capital hard to find. While hoarding cash is not the answer, having access to it, whether through a line

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Play defense with a good offense

By Anna Masker In standard22nd December, 2008

I am not a huge football fan, much to my husband’s dismay, but I do follow Peyton Manning, quarterback of the Colts. If you have ever watched Peyton play, then you know that he studies the formation of the defensive team and adjusts his plays accordingly, often seconds before the ball is snapped. Similarly, as

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Have a plan

By Anna Masker In standard19th December, 2008

When shopping for some outdoor furniture, I received a recommendation to go to a particular store. When I arrived, I walked into the shabby retail location feeling very unimpressed. However, after speaking with the business owner I found that his retail location resulted in only a mere fraction of his sales and that the majority

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