Pricing and profitability require a finely tuned balancing act: price too low and you miss your profit goals; price too high and you’re at risk of customer resistance and being undercut by the competition. Companies take a couple of different tactics. They scope out the competition and try to position themselves near the top. They … Continue reading Close the Gap Between Pricing and Profitability Goals
Type ‘cash flow management’ into your search engine and what do you see? All of the top cash flow management articles rely on the same two practices that ostensibly improve cash flow: 1) give discounts for faster payments 2) don’t pay your payables until the very last minute. There are two problems with this advice: … Continue reading Do You Lose 2 Dollars of Every 100 that You Make?
Everyone’s worried. Even the companies that have prospered since the onset of the pandemic worry that tomorrow may be the day when they drown. How you handle the worry makes a difference. Do you rock the boat or simply try to right the ship? We recently worked with a CPA firm that was exhausted and … Continue reading Make More Money by Rocking the Boat
I believe in you; do you believe in yourself? You are arguably the best in your field. You help clients and customers achieve their desired results and move on to future goals. What could be better than that? You know this. But…do your customers and clients know this? Are you a best kept secret? Both … Continue reading You’ve Got This!
One of the most powerful lessons I learned early resulted from this statement by a business owner: “I don’t want them to think I need the money.” This professional services provider, who was sales rich and cash poor, believed that asking for prompt payment was a weakness. You might not be surprised to learn that a … Continue reading Are You Voluntarily Causing Negative Cash Flow?
A manufacturer of scientific and medical equipment experienced negative cash flow for years. They used credit to provide cash, and when credit ran out they hired a cash flow expert. The cash flow expert gave them three pieces of advice: Budget: Understand upcoming expenses and compare them to upcoming receivables and future sales. Accounts payable: … Continue reading Improve How Cash Comes In and You’ll Improve Where it Goes
If there was only one factor, one action, one department or area that causes company growth and increased value, we would all be doing it. How many times have you thought “we’re stuck?” We’ve reached a goal and can’t seem to get beyond it. Or “we can’t even reach that goal, why not?” Companies that … Continue reading How to Boost Revenue in the 4th Quarter
I’m hearing lots of frustrations and complaints about marketing. Maybe you’re feeling these too? I don’t really understand the process and don’t feel I have time to learn I have no experience I’m too busy servicing the clients we already have I doubt I can do it well I’m worried about the hassle and expense … Continue reading Marketing? Do We Have to?
The popular image of a control freak is usually negative: someone who’s a perfectionist, always intense and impatient, who can’t or won’t trust anyone else. I’d recommend you not let yourself be that kind of control freak. Your typical control freak is known to: The popular image of a control freak is usually negative: someone … Continue reading Is Your Inner Control Freak Doing You Any Good?
Questions with tax implications are giving business owners headaches: How to get forgiveness for PPP loans and what are the tax implications? Should we defer payroll taxes as recently announced? And companies with either extraordinary gains or losses this year are asking what are the tax implications? Please, seek advice and counsel from your tax … Continue reading Ask Key Tax Questions Now to Protect Cash