When Should an Entrepreneur Hire a CFO?
By Kimberly Danek
Not every small business or company requires the services for a Chief Finance Officer or CFO, and as such, it is important that an entrepreneur knows the right time to hire one. To hire or not to hire a full-time CFO is dependent on many factors.… Read more >
“Cash is King”: It’s a phrase we know all too well – AND – the hard truth when it comes to managing a business. Without cash, you can’t pay your suppliers and employees. Without supplies and personnel, you can’t produce your product or service. Without a product or service, you can’t make sales; and, without sales, there IS no business.… Read more >
Increasing the amount of cash you have on hand isn’t rocket science. There are basically only two ways to do this: earn more and spend less. Within these two categories are a myriad of strategies and actions you can take to improve cash flow—to get paid faster and spend slower. Here’s how:
1.… Read more >
Approaching a bank for a small business loans for the first time can be an intimidating experience. Remember, the bank wants to loan you money if you qualify. One way to improve your chances of being approved for a loan is to be prepared beforehand with the information and documentation the bank will request.… Read more >
In these very tenuous and difficult economic times, the importance of profitability becomes tantamount. Without profit, positive cash flow, which is the lifeblood of any business, can quickly dry up and cause significant difficulty even in basic operations. This is especially true when the availability of credit seems to be evaporating before our eyes.… Read more >