If you’re like many other business owners, the mere thought of managing your finances makes you want to bury your head in the sand. You may find yourself asking, “How can I create a cash plan? Wait—what is a cash plan?” And that’s a great place to start: What exactly is a cash plan? Think about it like this: If your business is a car, cash is the gas. And sometimes, despite our best efforts, the tank hits empty before the next gas station. In order to keep driving your busine

In this tumultuous economy, reducing operating expenses has emerged as the number one objective for business owners everywhere. So, what are operating expenses? Operating expenses (also known as operational costs, fixed expenses, and indirect costs) comprise the expenditures that a business incurs as a result of performing its normal business operations. These expenses include rent, phone, utilities, fixtures, equipment, inventory, marketing budgets, insurance, payroll, profe

Some small business problems lurk beneath the surface; others wave a red flag that’s impossible to miss. Cash flow problems can be the hardest to ignore. They feel big because they are. But issues with cash flow aren’t insurmountable. If you're not making enough money to cover your expenses, it means something about your business needs to be fixed. In many cases, it indicates a missing or broken system. By identifying what’s causing the problem, you can begin the process of s