Corporate training firm founder and owner Elaine felt frustrated that she could never get her firm’s profit to grow faster than around 3% per year. When she and I first looked at her Profit & Loss statements for the past 3 years, nothing jumped out as a red flag. Revenue, Expenses, Profit all marched neatly … Continue reading How Are You Covering the Costs of Hourly Billing?
Chances are that if you were stressed about your business before the pandemic, that stress is greater now. If you weren’t stressed before, you may have experienced it the past several months. I experienced my own elevated stress and have worked with many professional and business services firm owners to mitigate theirs. Now that we … Continue reading What Are You Doing to Relieve Owner’s Stress?
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
Is it possible your company is creating cash flow problems because you follow norms promoted by your professional, technical or scientific services industry? And do you sometimes think you should do things differently, but are afraid to do them–well, because “everyone does it this way?” Do you create negative cash flow by: Offering discounts right … Continue reading Are Industry Norms Hurting Cash Flow?
How does your company balance on the two-edged sword of lots of demand (great!) and lots of competition (not so great)? Companies that provide professional, scientific, and technical services have lots of company, as these three sectors include 4,207,592 firms with 100 or fewer employees! It’s not enough for your company to have great skill, … Continue reading More Demand Creates More Competition-Are You Optimized?
What if your sales process steps overlook the importance of cash flow to the detriment of the company’s overall health? I’ve noticed that the missing piece from too many sales processes is how to ensure that effective cash flow is an outcome of the sales process you use. What good is high sales volume if you have … Continue reading How Do Your Sales Process Steps Affect Cash Flow?
I learned about cash flow imbalance the hard way. In the early days of Trivers Consulting Group, I would work from time-to-time for the clients of another service provider. I would let him know the total owed to me, then he would bill the client and wait for the client to pay. Many times, these … Continue reading To Improve Cash Flow, Improve Your Sales Process
When your company has a lot of money its voice is loud, commanding attention and earning respect. And with that respect you enjoy so many powerful benefits. This week’s focus is on increasing cash and building your voice. Cash Speaks Volumes The underlying message communicated by cash, that doesn’t show up in the numbers on … Continue reading Money Talks. What Is Your Money Saying?