It is one of the great mysteries of the universe. There always comes a time when a business runs out of cash. For some it is at the beginning of every month when all the bills are due. Other businesses become cash challenged when the 3 pay period months come around. For others it is…
Business owners are exciting, creative people who have taken the huge step of being masters of their own financial future. It is therefore strange that most business owners do not manage their business financials. At the very best, some glance at their monthly financial statements. At the very worst, others totally ignore the numbers in…
A business exists for two reasons and two reasons only: To pay its owners a decent income. To increase its value so the owners can one day cash out. And yet very few business owners spend any time managing the most important aspect of their business; the money$$$. Most follow the ‘Once a Year Rule’…
You went into business because you wanted to do what you love and you wanted to make a good living doing it. Why then do so many small business owners, especially in the early years, not pay themselves enough? Not writing yourself a proper pay cheque may seem like the right thing to do when…
No matter how successful you are in business, it is a fact that you will have cash flow problems at one time or another. In his book ‘Screw it, Let’s do it’, Richard Branson candidly tells the story of having to sell Virgin Music to EMI for half a billion pounds in order to keep…
