Financial Management

How To Better Manage Your Cash Flow

Philip Campbell, a CPA and author of Never Run Out of Cash, once said that while cash is the lifeblood of businesses, what fuels a company’s success is their ability to efficiently manage their cash flow. He notes that poor cash flow management can cause more business failures — a statement that is proved by the market intelligence provider, CB Insights.

 [···]

Read More
  • Key Factors When Pricing Services

Key Factors When Pricing Services

6 Key Factors to Consider When Pricing Services

Is your service company profitable? How profitable? How do you know?

Pricing for service-based businesses is often elusive for many business owners. If you look at the price for consulting or marketing, for example, you will likely find pricing and pricing strategies all over the place. If they are based on hourly fees, some firms will focus on a low price strategy, others will be more “middle of the pack” – basing their pricing on average market rates, and others present themselves as premium service offerings. If they are project-based, they may price based on estimated hours or even based on the future value of the service.

 [···]

Read More

Top Strategies for Small Businesses to Streamline their Cash Flow

Sure, there are a myriad of different financial tools and metrics you can use to monitor and evaluate your business and keep it on track. One of the most important is your operating cash flow. A lot of businesses use their cash flow data as a primary means of analyzing how well or poorly the company is performing. Moreover, managing your cash flow can also help you discover different trends and patterns in the overall results, which allows entrepreneurs to address crucial business shortcomings or capitalize on its strengths.

Let’s look at some sure-fire strategies small businesses can use to improve their cash flow.

 [···]

Read More

Debt Management – Refinancing vs. Consolidation

When you make the move towards streamlining your business’ debt, you can explore some effective options, especially if you are a small business. There are two main options for managing your debt: Debt Refinancing and Debt Consolidation. Both options are vital and effective methodologies to organically restructure your company’s finances, especially the loans you have taken out. You may have heard refinancing and consolidation being used interchangeably, but there are some stark differences between them; let’s take a closer look at these.

 [···]

Read More

Accounting Trends Every Business Leader Should Know

With any industry you look at, consistent and unparalleled innovation has had a massive impact on business as well as our day-to-day lives. Sure, predicting changes in the technological ecosystem of the accounting industry is undoubtedly a daunting task. There are, however, some major trends that have transpired during the course of 2018 and right into 2019 that every business leader should know.

Plenty of accountants have effectively acclimatized themselves to utilize the best digital accounting tools and software that successfully enhance every minor and major accounting process in a diligent attempt to go paperless. Technology continues to dominate the latest trends in accounting which every business leader should know.

 [···]

Read More

Debt Consolidation with Smart Financial Planning

A timely decision of debt consolidation can save your business from prematurely breaking down. An entrepreneur constructs and erects a business with so many dreams, so many visions, so much planning and careful steps. That is why an entrepreneur dares to get indebted, too. The business capital is funded from direct business loans or lines of credit, credit cards, etc. All these forms of debt taken for the business are invested to grow the business; not to break it. But when the business does not generate enough revenue to pay back the loan on time, then comes the real problem. The business can break under this financial pressure. The scariest end result is when the entrepreneur may have to declare bankruptcy, stop the business, sell all assets and liquidate them to collect cash to pay the loan, or just let the creditors auction the collateral.

 [···]

Read More