"We're in construction and cash flow is really stretched, making it so much harder to run the business and stay positive about what we're trying to accomplish. I'm tired of playing this game over and over, year after year."...
"Clients are going past due. Our standard billing terms are 30 days. We have a clause in our contracts that we can bill interest at 30 days, but we've never done that. What do you suggest we do to...
"I'm having a hard time figuring out exactly where the business is. It feels like sales and expenses are all over the place - some real downers, then a few bright spots and then another dip and bump up....
"Things are starting to move forward for my business. Any suggestions on ratios that I should look at, for planning purposes, as we ramp up this year?" The following ratios should help you to have a healthy, sustainable business. Let's...
"In these turbulent times it's hard to predict what's going to happen. That makes it hard to plan, or know what to do about spending. What's your advice." This question comes to us from an owner in Connecticut, who has...
"I want to be extra careful with the company's money this year. What are some mistakes I could make and how do I avoid them?" This year there will be less room for error, and fewer outside ways to bail...
"I have recently used some of my business credit line. In the past I've heard you talk about the need for reserve funds. What do you suggest I do in terms of priorities - build up reserves vs. pay down...
"Talk about credit markets drying up has me very concerned. We rely on our credit lines to make payroll and cover shortfalls in low revenue months. We could end up scrambling if we can't make payroll or pay our bills....
"What are the financial rules under which I'm going to have to operate? It's a time of financial questions and concerns. Rewards go to those who are prepared. Let me share with you some observations from this past week. Lending...