Improving the financial literacy of your leadership team can provide significant benefits to your small business, including better decision-making, improved financial performance, and increased strategic alignment. Here are 20 ways to increase the financial acumen of your organization: Provide financial education: Provide your leadership team with financial education resources such as articles, videos, webinars, or […]
Here are a few basic truths abut business to help ensure your success: It all starts with simple math. The formula is pretty straightforward: Revenue – Expenses = Profit. You need to sell enough of something and price it properly so that it exceeds your costs of doing business. Knowingly taking work at a loss […]
Every company should be run profitably. A portion of this profit should then be saved for future emergencies or needs. This should become the standard approach to managing your organization’s finances.
It’s amazing how many people can’t do basic math when it comes to their business or their lives. Revenues minus expenses equals profit. Profit only becomes cash once it is collected.