We all know cash is king. Cash is also the number one reason companies go out of business. I’m always amazed by the number of business owners who don’t use a cash forecasting tool to manage their business. Unless you are one of the lucky businesses with plenty of cash in the bank, here are some simple steps you need to dive into managing your cash flow.
I was introduced to Accounting Seed about a year and a half ago. One of our manufacturing clients outgrew QuickBooks and decided to convert their accounting & bookkeeping systems to Accounting Seed. It was a great way to streamline their … Read More
It’s easy! Take a look around. How can you recreate yourself, your business and your products? What can you do to reinvent yourself and your business? Don’t forget to keep it simple. Sometimes the best ideas are those that can be easily implemented but have the most impact on your customers. These new ideas can help boost your profits!
Lowering expenses can be a good thing, if you’re cutting out non-value added extras. On the flip side, cutting costs can be detrimental to your business. I know, you think I’m crazy. Right? Think about it for a minute. Your business is successful because you offer a product or service that others value and want to purchase. Your customers have come to expect a certain standard from you and expect your product and/or service to meet or exceed this standard. Sadly, cutting costs can have a negative affect on your customers.
The break even point (BEP) is the point when your revenues are equal to your costs. When this point is reached, there are no gains or losses, you break even. Keep in mind, this point is reached during the normal course of business – your company has sold some products/services and your business has incurred some expenses.