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We hear this all the time from small business owners. They look at their Profit & Loss statement (a.k.a. Income Statement) which shows all this activity in their business, and yet their Balance Sheet (and checkbook) show little to no cash! So where did it all go? A big challenge for a lot of business owners is understanding the difference between profit and cash flow. While the P&L may be showing growing sales and profit, the owner may notice that their cash balance is shrinking or that they are struggling to meet payroll.

Keep cash flow to an optimum

Keep cash flow to an optimum by observing the following suggested methods: - Keep your payroll bill down to an absolute minimum - however, always pay good money to good employees or they will walk! - Try to avoid signing long-term rental agreements and if fancy offices are not necessary don't bother with upmarket office space, especially if your customers rarely visit your business. - Don't overpay yourself - you only need to take out what is enough to feed yourself. - Keep a close eye on staff travel and entertainment and avoid issuing staff with company credit cards and mobile phones! - Fancy office furniture hurts the bank balance and is not necessary unless you are in the type of business that needs to impress clients. Secondhand or liquidation stock furniture is the best option and will save you a small fortune!

The Smart Alternative to Layoffs
The slowing economy has sent many of my clients back to the drawing board to take a sharp pencil to next year's budget. Small businesses run lean and mean most of the time, so there aren't many significant line items available for reduction… until you get to payroll.

Handling Your Most Important Asset
When the economy is slow, it's natural to think of all line items that cost your company money as liabilities. Unfortunately, that negates the value of one very large item in your budget which just may be your biggest asset: your employees. The question, therefore, is how best to manage that precious asset during uncertain and stressful times.

Payroll - Bi-weekly vs. Semi-monthly
I was on a board call for a company today that pays their employees bi-weekly (every two weeks). At some point in time there was a rationale for this since this company has a lot of hourly employees and there was a perception that folks would want to be paid every two weeks. So - presumably this was a logical decision at the time.

Company Loyalty
If you're in business, do you think your employees are loyal to you and to your company? You probably think they're pretty faithful. But are you really and truly sure?

Managing Emotions Under Pressure

I got the following note the other day from a friend: After reading your latest post on Board Room Rules, I started thinking about the pressures that entrepreneurs experience starting, growing and managing start-up companies (whether it's their first company or their fifth.) So I wonder if you as an investor/board member/partner/cheerleader have ever had to counsel your entrepreneurs on this topic and if so what advice did you dispense?

The Rise of the People-Less Business
Some fascinating data out in a new Intuit/IFTF study on small business. One factoid that caught my eye right away was on the rise of "personal businesses", the kind of one-person shows that helped drive the adoption of Ebay, Adsense, etc.

Fixing Problems
Question: Can you remember a day when you did not have some "problem," irritation, disappointment, defeat or set-back of some kind? It might be having to make an unexpected stop at the service station because your mate drove your car and neglected to refill it. Or maybe your boss gave you incomplete information on an important project and now you have to start all over.

How to manage the stress of being self employed
Running your own business hve you overwhelmed? Here's a few tips to regain control.

Report presentations to provide clarification of your financial position
Don't depend on quickly generated reports to accurately describe your financial position.

The time for internet marketing is NOW!
How the internet is evolving and how that effects You as a marketer.

Pay for Performance - in this Economy?
Yes, especially now! There are three potential mistakes organizations can make when there is a downturn in the economy.

Trying To Go it Alone: Why It Is Less Productive To Work Alone

Trying To Go it Alone: Why It Is Less Productive To Work Alone - When you start your business, it might work out just fine to operate by yourself – doing your administration, your marketing, your selling, your fulfillment, and your customer service. But if you're successful, it won't last for long: You'll need to grow (but you'll realize that you only have 24 hours in the day). In this article, you'll read about two reasons why it is better to bring someone else on-board to work with you. An on-site employee might not be right for you, but there is another possibility!

Working Online - - Endless Possibility
Starting an Internet based business has never made more sense. Traditional brick and mortar is quickly becoming a notion of the past as entrepreneurs look at new ways of marketing themselves that get superior results.

Is California’s Economic Woes a Glimpse of the Future?
The State of California’s economic problems continue to mount as Fitch downgraded their rating on their bonds earlier this week, and one can’t help but to think is this the fate of the US on a national level?

Taxes The Good News and the Bad News For Increasing Business Productivity
Cost to do business extends far beyond the standard fix costs of rent, utilities, insurance, etc. How you address these costs has a direct bearing on your sales to profits to employee retention.

Improving Morale After Redundancies

When the actual redundancy process is complete and the unfortunate employees are made redundant there remains the issue of low morale that inevitably continues for some time. Without close monitoring this can become a very serious issue to any business. Once the reduction in employees has taken place the staff that remain will probably be expected to achieve more and may have additional responsibilities placed on them. How do you get the best from your staff now that they feel uncertain about their future and how do you improve morale? There are five key areas that need to be considered and worked with carefully on an ongoing basis.

Software Review: Top Business Payroll Software
Living in the digital era, manually managing your payroll is unnecessary and inefficient. There are numerous payroll software solutions available to assist business owners in this particular task. These software solutions are highly specialized.

HR Department Basic Functions

Even though there are many ways to structure an HR department, most of them generally look the same. They are typically made up of “generalists” or “specialists” or some combination thereof. Sometimes one generalist will oversee a group of specialists and sometimes the reverse is true depending on the needs of the organization and the available talent on hand. But in all, whether you have a formalized HR department or not, there are a few necessary skill sets that make up, and round out the overall practice.

The 7-11 Franchise Program
The 7-11 Franchise Program may not be the best model for new franchise plans.

Lemonade From Lemons
Making lemonade from lemons is a cliche' used often in life, so why not apply it to your business? It's important to have a passion for the work you do. How do you find this passion? Grab a cool glass of lemonade and read on.

17 Ideas You Can Steal to Grow Your Business Without Spending Money.
In this article we're sharing what we call “ideas to steal”. They are all real-life ideas from successful businesses — action steps you can pick up and run with right away, without having to research, test or otherwise delay implementing. And, you don't need to spend money to do them.

The Six Worries of A Spare Room Tycoon
This is a story of my friend Mariann Schick, a fellow spare room tycoon.

Dont just survive - thrive in 2009
Throughout history some of mankind’s greatest achievements have happened in the most challenging times. That being the case, 2009 should be a great year for many smart small businesses…and these business survival skills should make it easier.

Step Up to Staff Training – A Simple 4-Step Model
Staff training is important and yet oft forgotten in small and growing businesses - here is a simple 4 step model on how to make sure your staff get the training they need (and you profit from).

Accounting Software- A Business Model
Business owners can have much better control of their accounting and operating software if they own the source code. Software developers can provide the control by offering the source code that includes the general accounting and the clients' unique application.

The Right Strategic Human Resource Imperatives for Right Now

Given the current economic climate, human resource executives and CEOs need to be thinking about some key people issues in order to improve their chances for organizational success. The key questions are these: 1) If I'm laying off staff, will I have retained the people who have the competencies required to execute our strategies? 2) If our strategies are changing, do I know the competencies people will need to have in order to successfully execute those new strategies? 3) Can I accurately identify our true High Potentials, and do I know what to do to keep them at this time? The good news is that there are clear answers for these questions and practical approaches to take today to make strategic human resource contributions to the success of your organization.

HR Departments: Making Structure Make Sense
Human Resource departments are not being optimized because of the way they tend to be structured. Usually “HR” refers to things like benefits, payroll, hiring, firing, training, reviews, compensation and the like. But we in corporate America missed the opportunity to better organize Human Resources when it moved away from its roots in “Personnel.” But not to worry. It's not too late.

Understanding and Calculating the Cost of Turnover
A brief look at how one determines their turnover rate. Another article details the causes of turnover and how to reduce it's impact on your organization.

The General Journal: Your Most Versatile Accounting Tool
A brief explanation of what a general journal entry is and how it used in the bookkeeping process.

The Bank Reconciliation: Your Most Important Navigational Tool
A discussion as to why the bank reconciliation is the heart of your business bookkeeping and how it serves as an important tool in monitoring cash.

SOME EXECS WILL NEED TO DECIDE: layoffs vs. retention
It’s depressing, it’s scary and it’s your decision. For those first timers- welcome to the terrifying responsibility of keeping your company alive during a recession.

4 Ways to Finance your Franchise
If you are interested in buying a franchise, you have probably taken into account all of the benefits that a franchise offers over starting your own business. You will benefit from a proven successful business model and an established brand name.

Legitimate Work at Home Business? Naw...Cant be!
Looking for a legitimate work at home business has been compared to looking for a needle in a haystack. Now while I will admit that it can be a little time consuming finding that perfect business opportunity that meets all your personal needs and is indeed genuine, there are in fact many legitimate work at home businesses to choose from. You just have to know what to look for.

Are You Financially Responsible With Your Business?
Where do you spend your time? Where you choose to spend your time directly reflects the financial outcome for your business. Today, I'll focus on ways that you can evaluate and adjust how to spend your time so that you can positively impact your bottom line.

Use Noncompete Agreements To Help Protect Your Business From
Renegade former employees riding the free enterprise wave is one reason noncompete agreements are gaining in popularity among employers who hope to use them to help protect their business from competitive threats launched by former employees. Many employers are now demanding that key employees sign noncompetes as a stipulation of employment.

The Business Failed But Did You

Just to make sure we're in agreement, let me reiterate the standard warnings once again. Starting a business is incredibly hard work. It takes long hours and deep pockets. It demands unbridled passion and unquestioned commitment. It requires that you give of yourself until you often feel there is nothing left to give. And sometimes, even after you've done all that you can do and given all that you can give, the business fails. Period. Blood, sweat, and tears can only carry you so far in the business world. Good intentions and grand ideas won't pay the office rent. You can not make payroll with Monopoly money.

The Ten Golden Rules of Sales Force Productivity
Successful sales people bring in lots of deals, no matter at what cost. Productive sales people bring in lots of high-profit deals, at manageable costs, retain more customers, and are happier at their jobs. Here are the Ten Golden Rules of Sales Force Productivity.

Tips Before Putting Your Honey on the Payroll
Some married couples are taking a second plunge, working together in businesses where the wives run the show. Find out how they're making that hierachy work, and when it's not such a great idea.

Your Going Out of Business PR Plan and how to avoid needing it
A small business owner struggled to keep her head above water in a bad economy - right up until she decided to close the store. Her going-out-of-business promotional efforts brought in a ton of business, and she cannot understand why. The secret is simple: She finally put promotion into everything she was doing.

Warning Signs When Buying a Franchise
Because investing in a franchise is a life-changing event, every prospective franchisee should thoroughly investigate a franchise opportunity before signing any sort of franchise agreement.

Why Internet Franchises May Be Right For You

There are many reasons to begin the exciting journey of owning a franchise; the most prominent is being in business for yourself; being your own boss. If that is the draw that brings you into the market of franchise opportunities then you might find a particular brand of franchise businesses offers a certain appeal. Internet Franchises. The internet franchise opportunity offers the owner the freedom of being their own boss and owning their own franchise and also adds to it 4 major advantages over a more traditional tangible goods and services franchise.

Is Workers Comp Better With a Professional Employer Organization or is Pay as You Go a Better Option?
The PEO is one of the first to offer a pay as you go option, which will help you manage your cash costs over time. Since the Professional Employer Organization and pay as you go plans are very similar, we will compare and contrast conventional workers compensation with pay-as-you go coverage.

Linking Pay to Performance: Cascading Goals
Cascading goals tie an individual’s pay to his or her control over the primary objective. An HRMS can help track goals.

Leadership and Employee Recognition
Whether you are the head of a large organization or the leader of a small team, you have a critical role in employee recognition. If you were thinking that recognition was someone else's responsibility, you need to read this article.

What is the Sales Value of my Small Business?
The first question most business owners ask me is “what is the value of my small business?” This article provides a simple way to value small businesses that are typically owner operated with revenues under $3,000,000.

Business Advisors: Results Are the Top Priority
If you want to set your consulting and coaching practice apart, you should be able to explain exactly the results you get for clients — and those results should be compelling. But what exactly are results?

Is A Work From Home Franchise Business Right For You?

If you’re interested in opening your own business, you should definitely consider the potential rewards of a business that would allow you to work from home. A home based business offers an amazing level of autonomy, and there are a surprising number of work at home franchise opportunities. In this article we will discuss some of the pros and cons of working from home as well as some of the available home based business franchises.

Why Factor?
Because this service has not been available, until recently, to small and medium sized companies, businesses should see this a positive ability to secure receivables financing, not as a problem with cash flow.

It Takes an Ocean of Emotion

"If you do what you've always done, you'll get what you've always gotten." Tony Robbins Stop for a moment and think about what type of energy is driving you to put another day into your business. Would you say your motivation's coming from a painful thought - "I better make this sale so I can make payroll", or based a pleasurable thought, "I can't wait to satisfy my next customer. Be honest with yourself.

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