Well, is it? If you are struggling a little with that let’s talk about how to turn that around. Online businesses have two main challenges: Inventory Management Promotion/advertising Management Really both of these areas stem from the same core problem. What’s that you say? Allright, I’ll just say it again. In order to have a successful online business, you only need to solve one problem. What is that one problem? Cash Management! So what are you thinking at this point? You probably want to ask, “Ok smarty pants, why do you think that’s the problem?” Fine, I’ll tell you… Inventory Management What is the definition of inventory? Most…

  It’s ok, you can be totally honest with me. And I will be honest with you, too.  Most business owners hardly ever look at their financials. There are several reasons for that: The financials are not very accurate It’s difficult to read the financials because they are so messy looking It’s difficult to understand how those financial results ended up on the financials The info on the financials is too old to be useful How in the world can you implement our Profit First Cash Management System (PFCMS) without accurate financials? Answer: It’s almost impossible.  Let’s look at your financials one by one. You good with that? Let’s…

Have you ever thought about this? When your business grows, cash can become strained. Why is that? Great question. That shows your interest is piqued!!   The answer is actually quite simple. When your business grows you need additional working capital. Think about that for a moment. When you hire additional employees, expand your inventory to accommodate more sales, buy additional technology or add licenses. Hey, it all adds up!! So now what do you do? Hmmm… All these things require additional funding. And more revenue doesn’t always provide enough cash flow to fund it when needed.  First and foremost, it’s not like birthday…

Did I just get your attention? I’m very glad I did!! So by now you’re asking how in the world can I make such a bold claim. I can absolutely guarantee it. How? By implementing our “Profit First Cash Management System (PFCMS)". Have you heard of Profit First? Our friend (yes, he’s our friend) Mike Michalowicz wrote a book a few years ago called “Profit First.” I first became acquainted with Mike at a conference several years ago. I was so enthralled with his presentation that I immediately bought and read his book. Then I called up his office to see what…