Tax season: The annual event that turns normally rational small business owners into tightly stretched rubber bands, ready to snap. But fear not, entrepreneurs, for there's a way to navigate this treacherous tax planning terrain without losing your sanity.
Read MoreThroughout our lives, women are told many myths and lies about money that unconsciously shape our money mindset and our money identity. As women business owners, this affects not just our personal lives, but also the success of our companies and the impact we can create.
Thankfully, changing your money mindset is actually possible. Improving your money mindset will lead to more conscious choices that support your financial goals and also can help you become more content in your life and business.
Read MoreProtect your business from these 7 Deadly CFO Horror Stories with killer CFO Tips.
Toxic Debt, Fraud, Theft, and bad judgement can all be avoided… If only you knew how! Well, here are some best practices to help you keep the demons away.
A tale of two of my favorite things: a woman-owned, profitable business and delicious pies; plus a story line that includes the key to making your own business more profitable now.
Read MoreWhy do I love Profit First?
First: Because it Works! It has changed my business and helped most of the companies I work with become more profitable, build up cash reserves, and fuel growth in their business.
Second because Profit First is so easy to understand and get started!
Read MoreToo often, business owners become the victim of poor cash planning or “swiss cheese” style of cash management -- letting cash leak out of the business simply by not paying enough attention to expenses. In fact, 82% of businesses fail because of cash flow problems (according to a US Bank study,).
Being proactive and strategic in managing cash is critical to your business success. And the best way to do that is to start by crafting a detailed cash flow plan.
Read MoreBusiness financial plans usually start with recent history and use a trend line to predict the future. For most companies, it's impossible to use 2020 revenue to predict reasonable sales or revenue growth for 2021. Still, when life and business are full of uncertainty; having a map of where you want to go and how you plan to get there is a critical tool.
So yes, in 2021, you can and should create a 12-month forecast to plot out a full year of what you think can or will happen. But, don’t treat it like a fixed business budget and try to make it 100% correct.
Instead, acknowledge something that has always been true:
Today’s forecast can’t fully predict next month’s challenges.
Read MoreWhen cash is tight, seeing profit on your P&L does not feel like the truth you are living — because profit is not cash. There are dozens of places where your Balance Sheet is connected to your P&L. This post covers the top five.
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