Profits are great, but cash is king! You may have heard this colloquial phrase used when analyzing businesses. It refers to the importance of cash flow in the overall fiscal health of a business. Many owners ask how it is possible that my revenues are up, my margins are up, and operating expenses are in […]
So, You Qualified for the ERC (employee retention credit) Credit, Great! You Might Be Wondering: What Should I Expect Now?
We have assisted many of our clients with claiming the Employee Retention Credit (“ERC”). The ERC is a government stimulus program designed to help small businesses that were able to retain their employees during the Covid-19 pandemic. Qualifying businesses that experienced the requisite drop in gross receipts are able to claim a refund on qualified […]
Securing Your Systems
Cyberattacks will continue. In fact, federal security agencies recently issued warnings to businesses and other organizations to improve defenses against possible Russian-sponsored cyberattacks, especially given the rise in tensions between Ukraine and Russia. The agencies are recommending that organizations should:• Ensure all system updates and patches have been installed on software to minimize vulnerabilities• Require […]
Why All Successful Entrepreneurs Have MBAs: Mentors, Believers, Advocates
There’s no such thing as a “self-made” business owner. The mere notion of the self-made man — someone who came from nothing, had a big idea, exploited it entirely on his own, and now has it all — is mostly an American myth. Sure, successful entrepreneurs and business owners are smart, opportunistic, perceptive, and adept […]
Is your business budget process like Groundhog Day or 2001: A Space Odyssey?
When planning next year’s budget, look to the future and never dwell on the past. Good strategy requires good numbers—it’s just that simple. It’s impossible to look at the big picture without making reasonable assumptions about where, how, and when cash will be coming in, and where, how, and when cash will be required. That’s […]
Business Continuity Planning for Co-Owners
Remember: One day, you will leave your business.
Avoiding Disasters in Inside Ownership Transfers
If you think that an inside ownership transfer your business to your children or management team is inherently risky, you’re right.
Characteristics of Bonus Incentive Plans
To retain key employees, the best business owners install Employee Incentive Plans that motivate them to stay. Here are the four keys to success.
What to Expect from Your Year-Ending Board Meeting
It’s the end of the year, which means you’re about to manage your fiscal year-end board meeting. Here’s what you should expect.
How to use social media during the holiday down time
Even though your prospects may disconnect from the day-to-day emails and calls during the holidays, their social media accounts remain alive and active.