Your latest tax return offers a clear snapshot of your business—don’t miss the chance to use it for long-term planning. With tax season behind you, you now have one of the most valuable planning tools in your hands: your latest financials. Whether you’re planning to exit in the near future or simply starting to think about it,…
Most businesses are on a fiscal year which coincides with the calendar year. Now is a good time to look back and reflect on 2023 as well as look forward and create a new budget for 2024. A budget is a roadmap. Based on where you have been, it can help guide you to the desired final…
A dollar is a dollar. That’s true. And, all revenue is equal. Right? Well no, not in an investor’s or potential buyer’s eye. So what makes some revenue good and other revenue better?
Most businesses are on a fiscal year which coincides with the calendar year. Now is a good time to look back and reflect on 2020 as well as look forward and create a new budget for 2021. A budget is a roadmap. Based on where you have been, it can help guide you to the desired final destination for year-end.
If you are on a December fiscal year-end, then now is a great time to clean up your balance sheet. As you review your assets and liabilities, consider the following: Inventory, Fixed Assets, Facilities and Leases, and Accruals.
As with many things in life – where we place our attention is what will change. But, if you try to focus on too many things at once, nothing gets done. The same is true for monitoring your business’ financial performance.
Most business owners focus on increasing profit margins as the primary means of improving the value of their business. Profitability is absolutely important, but it is not the only factor to consider. In fact, there are three components which can increase – or decrease, the value of a business: risk, profitability and growth.
It is a chaotic time for management when their company is in the midst of a turnaround, fretting over revenue, placating investors, managing suppliers, reducing costs while keeping employees motivated. There is an inordinate amount of things that need to get done. How do you know what to prioritize? A disciplined process….
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