What are you waiting for? For those of you not yet familiar with our Profit First Cash Management System (PFCMS), it gives you the opportunity of taking charge of your cash and profitability. We use Profit First in our practice, and many of our clients use it as well. It works amazingly great… If you’re not yet using it, call us to get more info. It involves setting up several bank accounts where your revenue is apportioned into on a consistent basis in order to make certain that you have the right amount of cash, in the right place, at the right time. When…
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Have you started using the Profit First Cash Management System yet?
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What the heck is a Sales Funnel?
Funnel cakes, funnel clouds, sales funnels, there are funnels all around us… You’ve probably been hearing this term used a lot lately, along with a sales pipeline. There are many confusing definitions surrounding this area. A sales funnel and a sales pipeline are really two things describing one thing: So let’s land the plane here and make it simple. A funnel in real life is a mechanism consisting of a wide open top with an open narrow open bottom. It is a concentrating device that takes in a lot at the wide top, but only allows a small amount to come out at…
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What’s the outlook for 2024?
We have for you, the good, the bad, and the ugly (the good is at the end so you leave on a positive note!!) We’ve been through so much turmoil in the last 3 years. So what is the forecast for this year? While we don’t have a crystal ball, here are Peter’s predictions for 2024: Inflation is going to continue to be a problem: Wage growth is going to continue - probably stronger than in the past few years as the population continues to struggle with the ravages of increases in the cost of basics such as food and housing. Inflation…
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Does Reviewing Your Financials Sound Really Intimidating?
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…
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Why is it so Expensive to grow? (How to use PFCMS as a Strategic Planning Tool)
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…
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Is Your Contracting Business Running Out of Fuel?
CashFlow is the Fuel That Keeps Your Business Running For contractors, the idea of cash flow management can seem overwhelming. But with the right strategies, you can ensure that your business has the necessary funds to cover expenses and remain profitable. With Profit First, you can learn how to manage your cash flow so that you always have the right amount of cash in the right place, at the right time. In this blog post, we’ll take a closer look at how Profit First can help contractors make sure their businesses stay solvent and profitable. Understanding Cash Flow Management for Contractors and Specialty…
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