Articles

In over 15 years of working with the small business owners, almost all of my clients at one point or another have been astonished by the amount of money that was falling through the cracks in their business. And especially in difficult times, it’s important to track...

It’s a well known principle in business that cash is king, because even if a business is making a profit, it can still go out of business the day cash dries up.  And this has proven to be the case for even the largest organizations. So how do you increase the flow of...

Having a consistent process in place to speed up collections - past due payments owed to by customers - is very important for any small business owner to make a priority. There are too many businesses that wait for the problem to get out of hand, and even continuously...

It’s a well-known fact in marketing that it’s typically much more costly to acquire a new customer than it is to improve your sales with a current customer. And not to mention, it’s also with your current customers that you can more easily identify ways to increase...

There is a lot to consider when hiring an employee for any company.  And whether it’s for a full or part-time position, the time and money spent recruiting, interviewing, training, adhering to payroll laws, and managing benefits can be a very heavy burden for a small...

One of the most common mistakes that I’ve seen in the strategy of a small business is when the owner tries to compete on price. This is a losing proposition because the big boys always have the upper hand in taking advantage of economies of scale, which is one of the...

Simply put, a company strategy is a long-term perspective that determines how a business will get from its current position, to where it ultimately desires to be. If I wanted to travel across the country from Indianapolis all the way to Los Angeles, I have all sorts...

Did you sign up for social security benefits last year? If so, you may have questions about how those payments are taxed on your federal income tax return. The good news is the formula is the same as prior years. That's also the bad news, because the thresholds for...

Marriages end, and so do business ventures. If your business is owned by two or more persons, a buy-sell agreement is one of the most important legal documents your business can have. This document provides for the "buyout" of an owner's interest when that owner...

You may be approaching an important deadline if you have retirement accounts and you turned 70½ last year. Generally, you must begin withdrawing money from tax-favored retirement plans in the year you turn 70½. However, you may postpone your first withdrawal until...