Tag: entrepreneur

Turning around sales, profits, and the business overall

We ran lean so we could take cash out for personal needs. Recently, we’ve seen a significant drop in net income. Think we need to spend money to get things moving forward profitably, but we’re going to be short on cash. What should we do?

Thoughts of the Day: Building a successful business takes planning for good times and for bad. Focus on sales and marketing first. Look for quick turnaround opportunities to boost cash from existing work and customers. Going forward, remember that if you take care of the basics of the business, it will take care of you.

Cleaning Up Your Credit Line

Our Credit Line has an annual requirement to get out of the line for 30 days, and that timeframe is nearing. We’re doing a lot better this year than last year; it’s mostly a timing issue. I’m not confident we can clean up the credit line within the 12 months, as our bank requires. What should I do?