Financial Consultant: I Will Not Write Your Business Plan For You

On occasion I’m asked whether or not I’ll help someone write a business plan. I am often left feeling like I should say yes, and needing to defend my answer of “no”. For a long time I have focused on how much it would cost the small business owner to have me do it for them. In my opinion, when you are first starting your business, you need to reserve as much cash as possible. It will take at least twice the amount of money and time as you think it will take to get started and you will need the cash to keep a roof over your head. By the way, STOP spending $5,000 on a website before you even get started! Start with a basic stock site and upgrade to a more sophisticated site later when you are making money. But I digress…

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Cash Flow Statement: What Is Its Purpose?

Before we discuss the purpose of a cash flow statement, let’s first discuss what it is. The three sections of the cash flow statement are operating, investing and financing. There are two methods to use when preparing your cash flow statement, the direct method and the indirect method.

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Cash Flow Management: Slow Accounts Receivables Woes?

My friend Susan Baylis at Medical Account Solutions lays out some important points of lost profits in medical office billing processes in her blog “Maximize your medical receivable with a few simple steps”. It’s important in all types businesses to have solid processes in place for billing as well as collecting. Part of cash flow management is having proper training and support in place so that the staff can be successful in protecting precious profits for your business.

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Cash Flow Management For An Entrepreneur’s New Product Line

A client called me with their ideas for a new product line along with the statement, “We are going to sell widgets to all the widget providers and we aren’t going to focus on the direct sale anymore.”

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