Experiencing erratic cash flow?
Managing your cash flow is vital for business survival and growth. Every business needs cash available to pay their bills and expenses on time. It's essential to control your cashflow so that you always have enough cash available before receiving payment from your customers. It’s important to:
Find it difficult to scale and grow your business?
You landed more client accounts, you grew your revenue, and your agency started hiring more employees. Then, you started having thoughts about expansion. Is it the right time to create a second location? After all, isn’t owning and operating a business all about ascending towards entrepreneurship heaven?
In a perfect world, this would work. But, unless you operate with your head in the clouds, then you already know that one of the first lessons of entrepreneurship is that nothing always works out as you’ve hoped or planned. Vertical scale isn’t always possible, and sometimes, it’s not the right thing to do.
Sometimes, lateral scale is more important. And, there will also be times when the right thing to do is nothing at all. This goes against society programming, which tells us that we’re not successful unless we’re hitting benchmarks like a sprinter, instead of hitting them like a marathon racer.
Our advisory team can customize the perfect growth strategy for your company.
Buy or Lease?
There are many factors every small business owner needs to consider when getting ready to make the decision whether to buy or rent a business facility.
The main advantage of leasing a business facility is that your initial outlay of cash to gain the use of an asset is generally less for leasing than it is for purchasing. However, perhaps the main advantage of purchasing that you end up paying out less in the long term than you would have paid if you leased the facility. Moreover, if you purchase, you get the benefit of any appreciation in the value of the property.
How do you reconcile these factors? One way is to do a mathematical analysis of your net cash flows that would result from leasing and from purchasing.
Let us save you time by doing the math for you.
How well is your business performing?
Beyond all the idealism of being your own boss and chasing your dreams, every small-business owner's ultimate motivation is profit. If your business isn't turning a profit, you might as well be earning a wage from someone else. Determining profits can be difficult, particularly for retailers, who face cyclical buying habits and often feel economic pressures as shoppers' disposable income decreases. Although determining a profit margin can be a useful tool to determine your business' success, there isn't a one-size-fits-all profit margin companies should hope to achieve.
We can help you determine what your overheads and profit margins should be. This is one key factor used in determining how your overall business is performing and can help you identify the things you need to improve in order to reach your goals.
Spending too much time keeping your books in order?
Bookkeeping is one of the most essential tasks of any business. Without proper bookkeeping, your business could very quickly and easily crash into a wall. Small business owners can do their bookkeeping on their own, but many invest in a bookkeeping service that will save them not just precious time but the risk of making very costly financial mistakes.
Bookkeeping is the process of recording all the financial transactions and events that occur in your business. Purchases, sales, earnings, receipts, and payments are all meticulously recorded so that all the money that flows in and out of your business is accounted for. Bookkeepers organize and track receipts and checks, and make a note of purchases as soon as they are made. They record all the data chronologically into designated books, or computer bookkeeping software. This form of careful record-keeping may seem over the top, but it is critical to the health and success of a business. Bookkeeping is only the first instance in several directions of financial planning and organization.