Most people start a business because they have an idea and a passion for sharing actual products or services. That being said, the financial aspects of a business will absolutely make or break a new and growing small business, so they cannot be cast aside without a solid plan. One of the increasingly popular strategies for taking care of these business needs is hiring a financial...

Financial management is as critical to the health of your business as that original idea or execution on your product or service, but it may not be your top focus or an area you are excited to spend much time. That being said, financial management cannot be avoided. Keep your eye out for the following financial management errors to make sure you’re doing everything you can to do right by your...

You’ve completed the project and hit it out of the park, not only meeting but exceeding all client expectations. For business owners, this feeling is treasured, but the dread and headache of realizing that a client has still not paid for services rendered is more profound.

The fate of your business’ health and prosperity goes far beyond waiting for revenues to exceed your expenses. While this is the goal, there are ways to be proactive about forecasting your expected growth. If you have an approximate understanding of what’s coming in, you’ll have an even clearer picture of what your costs should be.

As a business, your livelihood depends on getting something in return for the products or services you are providing to others. While we safely assume that once we send out an invoice a payment will arrive shortly after, this is seldom the case. A common frustration is that once these invoices go out, payments are either habitually late, or worse, non-existent.

Financial KPI items your business should utilize are the Net Promoter Score (NPS), accounts payable turnover, current ratio, and the debt to equity ratio. Continue reading!