Over the next Several Weeks we will be posting a new and different one-minute video providing business tips and instructional commentary for small business owners. These tips will range from key metrics to consider to the importance of Business and Cash Flow Forecasting.
The most common strategy I employ when a business owner asks me to scale their business and make it more valuable, is getting the business owner to work on their business instead of in their business. My name is Michael Barbarita from Next Step CFO providing outsourced CFO Services with your know your numbers minute. The small business owner needs to get out of the small day to day activities of the business and needs to work on bringing more business into the company and implement more systems and doing more strategic and people planning. In the long run, this strategy will not only make the company more profitable, but it’ll also make the company much more valuable. After all, if you were buying a business would you rather buy a job, or buy a business where everything runs systematically without your involvement? And remember, the most successful business owners know their numbers!
Over the next Several Weeks we will be posting a new and different one-minute video providing business tips and instructional commentary for small business owners. These tips will range from key metrics to consider to the importance of Business and Cash Flow Forecasting.
One of the most common questions I’m asked when meeting a potential client for the first time is: “I’m doing all this business, and making a profit, but where is the money?” My name is Michael Barbarita from Next Step CFO providing outsourced CFO Services with your know your numbers minute. Where is the money? Well, cash has hiding places. Cash can hide in a number of places, but here are just a couple of places where cash can hide: Accounts Receivable is one, the second one is Capital Expenditures, another one is Principle Reduction of Loans, another one is Pre-Paid Expenses, Too Much Inventory, Paying Bills Too Fast, Stalk Holder Distributions. These hiding places don’t show up in the bottom line of a PnL, so you can be making money but the cash is in one or more of these hiding places. And remember, the most successful business owners know their numbers!
Over the next Several Weeks we will be posting a new and different one-minute video providing business tips and instructional commentary for small business owners. These tips will range from key metrics to consider to the importance of Business and Cash Flow Forecasting.
The most popular question that I get asked from business owners is the “Can I afford it?” question. “Can I afford a new piece of equipment?”, “Can I afford a new location?”, “Can I afford more personnel?”; the way this question is answered is through a business and cashflow forecast. My name is Michael Barbarita from Next Step CFO providing outsourced CFO Services with your know your numbers minute. The business and cashflow forecast is so revealing in terms of understanding what you can afford that the business owner can’t help but to develop and implement the right strategies to be able to acquire what they need. And remember, the most successful business owners know their numbers!
