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This post is part four of our nine part Business Decision Playbook series, where we break down the thinking tools that help business owners make smarter financial calls. If you would rather watch on YouTube than read, click HERE
Have you ever bought something for your business that looked afforda...
Most business owners think they know how much money they have. They open their banking app, see a number, and treat it as fact. But that number and the amount you can actually spend are two very different things, which is exactly why so many owners find themselves saying, "We had plenty of cash two ...
Most business owners assume cash flow belongs to the accounting department. That assumption is quietly costing them money every day. Money does not live in one department. It lives inside every decision a team makes, from a marketing budget to a sales discount to a scheduling choice in operations. U...
This is a game called cash flow two truths and a lie. Grab a pen and keep score. Each round gives you three statements about money in your business. Two are true, one is a lie. Guess before you read the answer. Miss one, and that lie might be costing your business thousands, or even hundreds of thou...
Did you know there are different levels of tax planning? That’s why you may have experienced a tax surprise even though you paid your estimated tax payments.
Here are the main 4 levels of tax planning and how they affect cashflow.
- Avoid Penalties
The basic level of tax planning is to calc...
Creating a compensation plan can feel overwhelming because there are so many ways to structure the plan.
A great compensation plan:
- Creates a win-win-win for the employee, customer and company
- Rewards the behavior you want
- Boosts profitability and cash flow
The key problems with most compen...
Tina was interviewed by Chad Muncy on his podcast for small business owners.
Listen to part 1 of the interview.
Don't forget to listen to part 2 of the interview. It has tips and tricks to help you shorten your learning curve.
We discussed two important things you must get right before you grow yo...
Have you ever reviewed your profit report and celebrated an increase in sales and profitability? You gave everyone a high five and announced year-end bonuses.
A few days later the celebration was over after your bookkeeper asked you to transfer money for payroll.
You wonder what happened…how ar...
When it comes to increasing profitability, it is common for business owners to feel like Dorothy when she visited the Wizard of Oz.
Studying numbers can feel intimidating or scary.
0:11 Profitability is a simple math formula.
0:32 Did you know you can control profitability? Inst...
Watch this video to learn how income taxes are different for an employee, business entity and owner.
0:27 As an employee, income taxes are withheld for you. So, it is easy to know how much money you have to spend without worrying about surprises at tax time.
1:48 Most business enti...
Have you ever wondered if your business is as profitable as it could be?
It’s hard to know when you only have your historical financial reports to compare to.
The quickest way to answer the question is to calculate the profitability gap.
What is a Profitability Gap?
A profitability gap is the ...
Owners are quick to tell me they are very profitable.
But, later in the conversation the owners share the rest of the story when they say things like…
- I don’t pay myself a salary…yet.
- I sometimes struggle to pay my bills on time.
- I use my line of credit to make payroll.
- I cannot afford to h ...
