What is most entrepreneurs’ dirty little secret? They don’t understand their financial statement. And without it, they miss key opportunities and dangers. It’s OK. We know. You may not know what to do with your financial statements or why you should even care. It’s most entrepreneurs’ dirty little secret – they don’t know what to
The math wasn’t working out. Our client just relayed to us what he was going to do with the profits of the large account they just landed. But when we added up how he was going to divvy up the profits, he basically was spending the same $100,000 six times over. We call
“Sooo busy…” “Swamped” “Crazy.” Ask any entrepreneur how things are going, and rarely will you hear a zen response like ” I have peace and balance in my life, and am fully fulfilled.” Rather, you’d likely hear one of the responses above. In the tumult of daily business life we are often running…
“The learnings are in the gaps!” I exclaimed. My team looked puzzled. We were having an internal meeting, talking about how to explain to the client the value of (and the difference between) P&L Projections and a Business Plan. We get it. To us, it’s a no-brainer, a slam-dunk, a need-to-have-to-run-your-business, type of investment. But,
Often, we speak to business owners who feel they don’t have clear visibility on their numbers or what drives their businesses’ performance. Time and again they use the same phrase…”I’m flying blind.” Normally these are businesses that are struggling in some capacity, whether it is managing cash flow or profitability, or trying to understand what’s
It’s football season, and with it comes the donning of team jerseys, trips to football stadiums, and Monday-morning quarterbacking. It got me thinking about team playbooks. Guarded like gold, and critical to a team’s success, a player wouldn’t be allowed on the field without having memorized all the plays. Yet, many businesses operate every day
I love the Waze app on my phone. What I like about Waze, is that it’s more than just a GPS app– it is like a mini-copilot. It tells you when there is debris on the road ahead, where the police are, and how long you’ll be sitting in traffic. I use it all
What would have happened to the Titanic if they knew about the size of the iceberg before they hit it? If you aren’t getting the right– and timely– information from your accounting department, it may be a sign that it may need an overhaul.
Ask any business owner if they ever have enough money or enough people to get the job done and their answer is probably a guffaw and a resounding “NO!”
When you ask them who they need (in a perfect world) you’ll hear they need sales people, operations people and line workers. Rarely do they say they need this one critical position.
If you’re like me, you’ve gotten dozens of emails about why you should set up a budget for 2011. The word “budget” often spurs a collective groan. It sounds so restrictive. Not to mention the effort that needs to go in to putting one together and the tediousness of all that number crunching. No thanks.
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