In 1900, if you asked 1000 people if it was possible to fly, how many people would have said yes? Probably two, and they would have been hauled off in strait jackets. If you asked the same question today, only two would say no, and they would be considered crazy. The point is that in 1900, two people, Orville and Wilbur Wright had the conviction and belief that man would fly, despite what others thought. The founder of a startup must possess the same conviction and belief. My name is Michael Barbarita from Next Step CFO, providing outsourced CFO services with the know your numbers minute. If you are starting a business and you don’t believe that your product or service is great, despite what others think, you are going to have a rough road ahead of you. It all starts with undying faith and belief in what you are providing. And remember, the most successful business owners know their numbers.

Lately, I’ve been thinking about humility and its role in affective business leadership. Being open about our weaknesses seems counter intuitive to many and yet it is often one of the key difference makers between affective and ineffective leadership. My name is Michael Barbarita from Next Step CFO providing outsourced CFO services with your know your numbers minute. Some leadership thoughts to consider: One, show you are human by selectively revealing your weaknesses. Two, care passionately about your employees and their work. Three, dare to be different, capitalizing on your uniqueness. Think about applying these thoughts in your day to day management and remember, the most successful business owners know their numbers!

An injection of capital into a business can be as temporary as an injection of sugar from a snickers bar if proper financial management is not in place.  

My name is Michael Barbarita from Next Step CFO providing outsourced CFO Services with your know your numbers minute.

Proper financial management starts with managing cash flow.  One of the basic things that you can do to get clarity on cash flow is invoice on time and have an accounts receivable collection policy.  

Click on the “Learn More” link right inside this video for another video of one of the strategies I use in collecting accounts receivable.  If consistently applied you will find that over time your collection of accounts receivable will be faster.

And remember, the most successful business owners know their numbers.