Category Archives for "Newsletter"

Thrive In Uncertain Times

Merager Financial Solutions Boulder Colorado

Thrive In Uncertain Times

Habits During Unpredictable Times

  ~ April 2020 ~


Welcome to the Merager Financial Solutions LLC newsletter. We're so happy you are here! Each newsletter provides a wealth of knowledge and inspires business growth.

Watch your spending!

 

A thoughtful cash management strategy is critical as your company becomes more complex and profitable. Keeping a close eye on your company’s short- and long-term opportunities often separates an industry’s successes and failures.

TIPS:
1. Plan for regular operational payments.
2. Research for available tax breaks.
3. Take advantage of discounts, special purchases, and business opportunities.
4. Create a plan to secure outside financing at the best terms.
A thoughtful cash management strategy is critical as your company becomes more complex 

Document, document, document.


Important documents should be immediately discoverable with little knowledge of any “system.” To create a system that keeps your company safe.

TIPS:
1. Have the supporting documentation for each disbursement (purchase order, disbursement approvals, receipts, signing authority, etc.).
2. Have supporting documentation for every contract that has been signed.
3. Have a filing system that is scalable, easily understood, and consistent.
4. Use an electronic filing system that either automatically or periodically backs up your data to an independent and off-site storage location.
5. For transparency, provide access to all necessary leadership.
6.  Scan paper documents into your electronic system.

Collect your earnings!

 

Many companies have a culture of seeing “work done” as the point that the invoice leaves the shop, but the only meaningful indicator is when the invoice is paid.

TIPS:
1. Monitor your accounts receivable reports.
2. Follow up anything that is not paid within 30 days by emailing a copy of the unpaid bill
3. Once a bill has aged 45-60 days, email the bill again and call the client to offer any assistance.
4. If a bill has aged more than ninety days without any outreach, a specific strategy needs to be implemented that removes all objections and creates a simple resolution for the client.

Cut costs!

Before resorting to downsizing, find ways to cut unnecessary costs.

TIPS:
1. Update pricing.
2. Search for government aid.
3. Furlough rather than layoff.

​If you need assistance with anything we’ve discussed here, let’s talk so you can reach your financial goals, growth, and revenue. Spend your time doing what you do best and make more money by having us solve your most pressing financial issues.

Keep More Money

Merager Financial Solutions Boulder Colorado

Keep More Money

Focus on what you do best!

  ~ March 2020 ~

Welcome to the Merager Financial Solutions LLC newsletter. We're so happy you are here! Each newsletter provides a wealth of knowledge and inspires business growth.

Here's a critical question: What's the one thing that can make 2020 the beginning of your company's best years?

 

I've worked with so many companies that are literally making a fortune, but don't see the desired growth in their profit margin. Why does this happen? As the leader of your company, you are really good at what you do. But like most leaders, you probably find yourself spending too much time on the internal aspects of your company, taking you away from what you really do best.

What I do best is I find opportunities for growth, increased profits, and reduce unnecessary spending. I take a deep dive into your company's financials to give you the critical information and planning support to reach your goals.

Strategic tips overlooked by most businesses


1. Make sure your invoice is paid within sixty days.
       - Once an invoice goes unpaid for sixty days, a client will question the company's professionalism and wonder if they actually want the money.

2. Get a professional payroll-processing company.
       - Paying a company to disburse your payroll and pay your taxes is a great money-saver.

3. Closely monitor your company's expense accounts and reimbursements.
       - Expense accounts can quickly get out of control and certain reimbursements can trigger an audit.

4. Make sure your bookkeeper has strategic oversight.
       - Not integrating your company's strategy into your books is a direct threat to your company's well-being.
       - Unreliable financials are the result of relying too heavily on accounting software.

5. Save money at year-end by creating financials that are optimized for your tax preparer.

6. Don't rely on your tax-preparation firm to identify operational problems and opportunities.

Also, don't forget to take care of yourself! A well-rested and focused business leader is a company's greatest asset.

I'd love to hear about your successes as you implement these tips.

​If you need assistance with anything we’ve discussed here, let’s talk so you can reach your financial goals, growth, and revenue. Spend your time doing what you do best and make more money by having us solve your most pressing financial issues.

Get a Budget Together NOW

Merager Financial Solutions Boulder Colorado

Get a Budget Together NOW

Stop flying in the dark!

  ~ January 2020 ~

Welcome to the Merager Financial Solutions LLC newsletter. We're so happy you are here! Each newsletter provides a wealth of knowledge and inspires business growth.

Resources are often underutilized and not working together.

 

It’s easy to waste time and money on underperforming products or services or not combining products into higher-revenue packages.

TIPS:
1. Find out the profitability of each product.
2. Create packages of products of unequal desirability that include a discount.
3. Eliminate underperforming products or services unless there is a clear path to profitability.

Knowing your cash position is essential.


Having a budget lets a business leader see their cash position in real-time, as well as what can be expected in future months.

TIPS:
1. Review your budget vs. actual results every month.
2. Find any new knowledge about the business and implement operational changes. 

You might have a huge sales promotion or annual cost.


Assuming that a healthy cash position now will continue into future months by mentally averaging monthly profitability, doesn’t take into account the natural volatility of revenue and expenses.

TIPS: 
1. Track your major expenses to at least the month to manage cash flow.
2. Manage your sales promotions or advertising campaigns based on revenue.

You may want to pay yourself more based on future profitability.


The simple fact is that there is a special joy in creating a profitable business because it means that you’re offering the right product or service, and you have a keen insight into the marketplace.

TIPS:
1. Time any pay increases to begin during times of increasing profitability.
2. Assume that this increase in pay to you will be long-term and sustainable.
3. Make this decision with eyes wide-open so future opportunities won't be missed.

​If you need assistance with anything we’ve discussed here, let’s talk so you can reach your financial goals, growth, and revenue. Spend your time doing what you do best and make more money by having us solve your most pressing financial issues.

Exit Strategy for Success NOW

Merager Financial Solutions Boulder Colorado

Exit Strategy for Success NOW

  ~ November 2019 ~

Welcome to the Merager Financial Solutions LLC newsletter. We're so happy you are here! Each newsletter provides a wealth of knowledge and inspires business growth.

Create financials that match what you say in words.

 

A business leader will describe their business, and the bank or investors will verify that by reviewing the only true record of a business: the financials. Make sure they are optimized to tell the true story of your business.

TIPS:
1. Show each entity in your business.
2. Show each product or service in your business.
3. Have sufficient detail so there aren't any questions.
4. Clearly show profitability by market and product.

Document contracts and clients.


Investors, bankers, and buyers will need to verify that all of the contracts and other documents are in place so that they can reduce their risk.

TIPS:
1. Have a central location for document storage.
2. Be able to show that you have every contract at hand.
3. Have a copy of the employee manual and every employee contract, which may include non-compete clauses.
4. Have a copy of every worker’s tax documents.

Do you have individuals that make or break the business?


If there is a key person in the business that should leave the business will fail, the business has no value other than the sale of the business in pieces. Avoid this trap.

TIPS: 
1. Document that a key person in the business has a successor.
2. Have non-compete clauses in key person employment contracts.
3. Create a documented business structure that avoids creating a key person.

Discover if a financial aspect of the business may change drastically over time.


For some businesses to remain valuable long-term, they need to stay at the same location. A rising rental market will affect profitability and the company’s eventual sale value.

TIPS:
1. Make sure that any long-term vendor contracts that will significantly increase in value are included in your financials.
2. Create a tax strategy so that depreciation and amortization are optimized for both current operations and that they are included in the final sales strategy.
3. Remain aware of the overall marketplace and the sustainability of each product and service.

​If you need assistance with anything we’ve discussed here, let’s talk so you can reach your financial goals, growth, and revenue. Spend your time doing what you do best and make more money by having us solve your most pressing financial issues.

Manage the Important Things

Merager Financial Solutions Boulder Colorado
Manage the Important Things

  ~ October 2019 ~

Welcome to the Merager Financial Solutions LLC newsletter. We're so happy you are here! Each newsletter provides a wealth of knowledge and inspires business growth.

Keep a close eye on your cash!

 

A thoughtful cash management strategy is critical as your company becomes more complex and profitable. Keeping a close eye on your company’s short- and long-term opportunities often separates an industry’s successes and failures.

TIPS:
1. Plan for regular operational payments.
2. Have sufficient cash during peak times.
3. Plan for capital projects, new product launches and new hires.
4. Take advantage of discounts, special purchases, and business opportunities.
5. Create a plan to secure outside financing at the best terms.
6. Plan to invest funds over long and short periods to maximize returns.

Ready for an audit? Are you protected from an embezzler?


To create a system that keeps your company safe, important documents should be immediately discoverable with little knowledge of any “system”.

TIPS:
1. Have the supporting documentation for each disbursement (purchase order, disbursement approvals, receipts, signing authority, etc.).
2. Have supporting documentation for every contract that has been signed.
3. ConsistentlyGet very organized people for clerical work (ask if they enjoy organizing their closet!) file legal documents such as deeds of trust and title for property.
4. Make sure that every record can be easily found.
5. Have a filing system that is scalable, easily understood, and consistent.
6. Use an electronic filing system that either automatically or periodically backs up your data to an independent and off-site storage location.
7. For transparency, provide access to all necessary leadership.
8. Make it a habit to always scan paper documents into your electronic system.

Collect all of the money you’ve earned!


Many companies have a culture of seeing “work done” as the point that the invoice leaves the shop, but the only meaningful indicator is when the invoice is paid.

TIPS:
1. Monitor your accounts receivable reports.
2. Follow up anything that is not paid within 30 days by emailing a copy of the unpaid bill.
3. Once a bill has aged 45-60 days, email the bill again and call the client to offer any assistance.
4. If a bill has aged more than ninety days without any outreach, a specific strategy needs to be implemented that removes all objections and creates a simple resolution for the client.
5. When creating your company’s budget, have a contra-asset account for bad debt that is reasonably close to the amount your company would write off each year (usually 2-5%).

Projects are how we make money!


A very powerful tool for any financial team to leverage for operations is clear and robust recording of project expenses and revenue. This type of recording helps leadership easily determine its return on investment (ROI). As important for management of that specific project, if managed very thoughtfully, each project can provide essential insight into future projects.

TIPS:
1. Create a project with business requirements, a review of expectations, identification of each required task and effort required, resource management, regular review with the client, and a clear close-out process.
2. Each project should be clearly defined for operational execution and financial results.
3. Have a regular meeting with the project manager and financial manager to review the results.
4. When creating the project, have a point where will company bail-out if profits, or revenue, stop meeting expectations.
5. Similarly, risks should be identified at the beginning of the project and reviewed at each project meeting.

If you need assistance with anything we’ve discussed here, let’s talk so you can reach your financial goals, growth, and revenue. Spend your time doing what you do best and make more money by having us solve your most pressing financial issues.

GOOD STAFF MAKES THE BEST THINGS HAPPEN!

Merager Financial Solutions Boulder Colorado
Good Staff Makes the Best Things Happen!

  ~ September 2019 ~

Welcome to the Merager Financial Solutions LLC newsletter. We're so happy you are here! Each newsletter provides a wealth of knowledge and inspires business growth.

Financials

 

These are the people that know how to budget, create proper books, create powerful decision support tools, work with government agencies, get your people paid, avoid fines, and generally make your life happier. Remember, every small business must have bulletproof books for at least three years in order to have any chance of getting a business loan, outside investment, or to finally exit from the business.

1. They will have expert knowledge of the newest applications to reduce costs.
2. They will get you reports that allow you to make those critical decisions with confidence.
3. They will reduce your end-of-year tax preparation expense.
4. Companies like ours will create a system but give you real control over your company.

TAKEAWAY: Not having expert help risks missed financial goals, higher risk of negligence lawsuits and even catastrophic failures that lead to shutting the business down.

Admin


These are the people that will take care of your business on a daily basis and are providing the critical staff and client support. They have best practices to create marketing campaigns, create correct client billings, hire the best people, resolve HR issues, how to bring new employees into the company, how to manage your calendar, how to resolve internal issues, and so much more.

1. They should be trustworthy, coachable, and competent.
2. Get people specifically trained in for HR and marketing.
3. Get very organized people for clerical work (ask if they enjoy organizing their closet!).

TAKEAWAY: Untrained business leaders trying to do it all will spend far time more learning and making mistakes than it would ever cost to have a professional complete the work. Their cost of incompetence will appear in fines and bad decision-support reporting.

Operations


This critical work includes scheduling jobs, precise timing of new material orders, creating high-performing project management schedules, managing those projects once they are underway, scheduling deliveries, organizing stock, and all the other day-to-day activities.

1. Competence for many of these specialized jobs take years of training, so don't assume free software will create an in-house expert.
2. Make sure there is integration with all of your operational controls and software, where possible.
3. Having detail-oriented people in these positions is critical.

TAKEAWAY: The more complex your operation, the more it is to have skilled and sophisticated operations staff. Awareness of so many theories, including queueing, scheduling, and defect tolerance will save untold headaches and financial losses.

Management


Management is one of those skills that seems effortless, and frankly, a waste of company resources until an incompetent person is placed in charge. Once a company becomes large enough, a wise leader will bring in bright, thoughtful people who can accelerate existing growth and bring new insight into the company vision.

1. Have a diverse management team, both with skills and professional backgrounds.
2. Have someone who can competently manage outside legal counsel.

TAKEAWAY: Everyone thinks they can be a manager. It's only once somebody has been a manager that they fully appreciate the massive complexity of pulling an organization together and making sure it is moving in the right direction. Get people that are smart, able to understand what's going on inside the company as well as outside the company, have the strongest integrity, and believe strongly in the company mission.

If you need assistance with anything we’ve discussed here, let’s talk so you can reach your financial goals, growth, and revenue. Spend your time doing what you do best and make more money by having us solve your most pressing financial issues.

Ideal Characteristics of a High-Value Company

Merager Financial Solutions Boulder Colorado
Ideal Characteristics of a High-Value Company

  ~ August 2019 ~

Welcome to the Merager Financial Solutions LLC newsletter. We're so happy you are here! Each newsletter provides a wealth of knowledge and inspires business growth.

Admin

 

Senior management should be leading the effort to have the following items in place well before an investment pitch (hint: a company should be run as if an investment, or exit, is right around the corner):

1. Professionally Prepared Financials and Tax Returns: Consistent with GAAP standards.
2. Clean and Accurate Financial Records: No questions are raised upon closer inspection.
3. Healthy Balance Sheet: No ticking time bombs.

4. Intellectual Property Protected: Make sure the IP can’t walk out the door.

TAKEAWAY: Any reasonably sophisticated investor or bank will require at least three years of solid financials and expect them to match the investment pitch. Also, engage capable attorneys to ensure that all-important intellectual property is protected so it can be added to the balance sheet as a long-term asset.

Operations


A competent COO will naturally have the following in place, but during an investment round, making sure that these assets are secure is critical:

1. Capable Staff in Place: For large companies, this is the C-level management.
2. Current Technology in Place: The technology should be both current and scalable.
3. Assets: Clean titles on assets that are also in good working condition.

TAKEAWAY: Build a business that values long-serving staff, where investing in the best forward-looking technology is the norm, and that title to company assets (capital assets, machinery, vehicles, etc.) are fully documented and insured.

Customers


Document either that customers are loyal over time or that transient customers are rapidly replaced by new transient customers.

1. Diverse Customer Base: This provides some assurance that the loss of a specific demographic won’t adversely affect the business.
2. Increasing Sales and Profits: The presumption is that the product or service has an increasing value, which is often due to more customers becoming aware of the offering.
3. Business Relationships Transferable and Documented: A company whose main source of value is their customer base must make assurances that the customers will remain with the newly-sold company.

TAKEAWAY: A company only has value if someone wants to buy its product or service, so demonstrating that the customer base is secure, even with a change external to the company, is critical to document long-term value.

Seller


For growing businesses, the founder is very often central to the operation and the most valuable asset of the company. For a company to achieve its greatest value, it should minimize any question about whether the company will continue at the same pace without their presence, or that the founder will stay on in a limited role for a set amount of time.

1. Seller Realistic About Sales Terms and Timeframe: A “hopeful” seller will often sabotage the sale.
2. Seller Able To Maintain or Improve Business Value During Sales Process: The buyer wants assurances that any sales and revenue trends are fully transferrable.
3. Seller Motivated To Sell: If the seller isn’t all-in to make the sale, then they should consider waiting until they are more committed.
4. Business Not Reliant On Seller: If a company’s owner is also one of its greatest assets, selling the company becomes almost impossible if a successful sale mean the owner will be walking out the door.

TAKEAWAY: A buyer of a business is buying a revenue stream, and the more assurances they have that the revenue will remain as expected will drive up the sales price.

If you need assistance with anything we’ve discussed here, let’s talk so you can reach your financial goals, growth, and revenue. Spend your time doing what you do best and make more money by having us solve your most pressing financial issues.

Make Expenses Work For You!

Merager Financial Solutions Boulder Colorado
Make Expenses Work For You!

  ~ July 2019 ~

Welcome to the Merager Financial Solutions LLC newsletter. We're so happy you are here! Each newsletter provides a wealth of knowledge and inspires business growth.

Simplicity

 

The absolute key with any system, financial or otherwise, is to make it as simple as possible.  The gold standard is if someone with reasonable intelligence can come into your company and understand what’s being reported and can independently access similar data results.

1. Use an accounting system that automatically downloads your transactions.
2. Your bank may have a budgeting system that automatically categorizes your transactions, so no further work is needed (note that the categorization may not fit your business, so don’t let it go completely on autopilot).
3. Avoid using a spreadsheet that must be manually updated – it will become too time-consuming and will be abandoned eventually.
4. Once your company becomes sufficiently complex, hire a competent bookkeeper, so you have reliable financial reports to run your business.

TAKEAWAY: If you find yourself especially encouraged (or even overwhelmed) by some aspect of your business, get in touch with Merager Financial Solutions for an inexpensive review and strategy session.

Use Apps


We are living in amazing times where applications can do much of our repetitive work and with more reliable results. The key is to have really good integration between different apps, so your data isn’t scattered, or even far worse, providing you with varying results between systems.

1. We’re a big fan of QuickBooks Online for many reasons and can help you get a 50% discount for the most basic version for the cost of a couple of cups of coffee a month.
2. Depending on the complexity of your company, using a bill payment system can make a lot of sense.
3. If you’re sending money internationally, there is one system that we would love to introduce you to that is incredibly convenient and the fees are sometimes 90% LESS THAN your bank.

TAKEAWAY: If you have a technology need, get in touch with us for a quick chat with absolutely no obligation. Frankly, we’d love to connect with you again, and this is a great excuse!

Direct Purchases                        

Reimbursements should be a rare event so that employees aren’t burdened with interest-free loans to their employer. It’s also important to note that processing reimbursements are typically very expensive in staff time, so there is a direct cost for what initially seems like an easy solution.

1. When reimbursements are necessary, we can recommend a few reimbursement systems that integrate directly into your accounting system with a mobile phone apps.
2. Where logistically possible, the employer should purchase items directly from vendors or provide an employee with a debit or credit card to make purchases.
3. Creating a direct and substantial purchasing history with vendors creates an opportunity to request an ongoing discount.

TAKEAWAY: Use your company’s purchasing power to your advantage by having it all visible and leveraging a positive working relationship with a vendor to help both of you.

Monthly Review


Having a budget has so many advantages, but the ability to compare what you thought your company would do and how things actually played out is pure gold. Seeing the results of real-world decisions compared to what we reasonably believe will happen leads to wisdom, which leads to growth.

1. Review your expenses each month with your bookkeeper if your company is safe, but not growing in the near future.
2. If your company is growing, or set to grow, review your budget vs. actual numbers with your CFO so the growth can sustainably continue.
3. At the end of each monthly review, identify any new expense categories that have become significant and should be highlighted by themselves on future profit and loss reports.

TAKEAWAY: For every expense, make sure that it has a return on investment (ROI) for the company or classify it as an Owner’s Discretionary item that can be quickly identified if funds are needed immediately.

If you need assistance with anything we’ve discussed here, let’s talk so you can reach your financial goals, growth, and revenue. Spend your time doing what you do best and make more money by having us solve your most pressing financial issues.

What is a healthy company? Part II

Merager Financial Solutions Boulder Colorado
What is a healthy comany? Part II

  ~ June 2019 ~

Welcome to the Merager Financial Solutions LLC newsletter. We're so happy you are here! Each newsletter provides a wealth of knowledge and inspires business growth.

Delegation is normal

 

Once a company has sufficiently matured, it realizes that the best way to get things done is to have the best people do the work. Mature companies also have a significant amount of work to do, and thoughtful leaders understand that they should focus on their expertise. The world has changed, where extraordinary and competent people create professional-grade results for small businesses in their own area of expertise and only charge only for time spent on task. Offloading these technical and creative tasks to professionals is often the best decision.
TAKEAWAY: Every person has a talent that is most valuable to a company and their time should not be used to solve less expensive needs.

Actively managed costs 


While it is a milestone for any company to create a profit for itself, sometimes the most challenging task is to manage costs. The best way to do this is to have accurate reports that are created by a competent CFO and reviewed by management at least monthly for opportunities, waste and budget vs. actual spending. We should also make a point to revise vendor contracts whenever possible. Explore reducing expenses such as duplication, overhead, change billing to longer periods, and look into deductions for early payments. Some vendors may be willing to provide the same service at a lower cost if their contract is more secure or more business is promised. On the other hand, there can be the temptation to move from a trusted vendor that charges more to a lower-cost vendor who is not reliable and that may lead to a trusted vendor parting ways.
TAKEAWAY: Vendor management is a crucial management obligation and opportunity.

Bid management                  

Bid management is a function of both long-term data, an in-depth knowledge of the marketplace, very detailed business requirements from the client, and an understanding of project management. While working with bids, set the expectation that there may be overages. There may be an increase in material prices and that vendors naturally include a profit margin. A properly managed project can leverage knowledge about how to do something based on past work experience and very often a company that has specific, in-depth knowledge about a deliverable is in an excellent position of charging based on the value that they bring to the potential client. It's important to remember that the potential client may perceive a higher-priced bid as a higher quality deliverable.
TAKEAWAY: Use historic data to create high-profit bids by leveraging your company’s expertise, industry knowledge, and pricing sophistication.

Minimal stock on hand


Stock on hand can become an afterthought to the companies that have the mistaken belief that they need every single item on hand at the exact moment that somebody needs it. A successful company understands that an immediate need for an uncommon item can translate to a higher price. That said, there are certainly some business types like hardware stores that must have several combinations of each item on hand, but the opportunity there is to track the “time on shelf” for each stocked item and keep only enough where the time to sell least amount on-hand equals the amount of time to have new stock shipped in.
TAKEAWAY: Minimize stock to absolute minimums and use working capital to grow the business.

Exit strategy planning


One of the best ways to start a business is to organize with the idea that the business could be handed-off to a third party and it would continue with the same increasing profits. Bringing procedures and policies into a company/employee handbook creates an environment where at any time, financing can be secured, partners can invest with confidence, or the business can be sold outright.
TAKEAWAY: An exit strategy is more of a state-of-mind than a plan of action. Value is created when a company has a business continuity plan that clearly reveals its revenue stream.

If you need assistance with anything we’ve discussed here, let’s talk so you can reach your financial goals, growth, and revenue. Spend your time doing what you do best and make more money by having us solve your most pressing financial issues.

What is a healthy company?

Merager Financial Solutions Boulder Colorado

What is a healthy company?

  ~ May 2019 ~

Welcome to the Merager Financial Solutions LLC newsletter. We're so happy you are here! Each newsletter provides a wealth of knowledge and inspires business growth.

Companies that seek overall health are the ones that not only survive but go on to even better things and create opportunities that would never appear otherwise.

 

The first attribute of a healthy company is that it has a stable roster of clients or steady sales of its product or service. This typically means that the company has a product or service that is valued by its customers and they choose to do business with that company. The challenge at this stage is never to presume customer loyalty or that their product will continue to be desirable.

Stable revenue is another attribute that ties in with steady sales, but the accounts receivable and accounts payable must be watched very closely. Uncollected bills are lost profits, and unmanaged vendors happily take inflated fees from clients.

Having a budget is a next-level indicator of a healthy company, and a cash projection is a natural extension of a budget. Beginner companies are satisfied with merely knowing where they presently are, or worse yet just making sure they don’t overdraw their checking accounts, but the real power comes from knowing how much growth potential a company has and leveraging all of that potential. A beginner company also incorrectly believes that staying in the same place as “we can pay the bills and put some money in our pockets(!)” is safer than reaching for the next level, but the companies that search for long-term success know that stopping in the middle of the road will surely lead to being run over.

A company that expects that it will naturally grow is healthier than one that remains stagnant. We know from practically everything else in the universe that there is only growth or entropy and the same holds for business. Just think of that store that you walked into that hadn’t been updated in twenty years and how your regard for that store immediately dropped to one of possible suspicion of their offerings (maybe you look if the milk is out-of-date or expect horrible customer experience?).

Having solid books is not only the exclusive way for a leader to understand their company’s position, but it creates opportunities to exit the business at some point. Did you know that a company needs three to five years of rock-solid financials before any investor will even look at a company for purchase? Even if there is no plan right now to sell one’s company, there must be planning for that, even if that preparation is used to secure an emergency line of credit from a commercial lender.
 
This one is more for a company that deeply understands itself, but every healthy company is hungry to provide a desirable service, create new offerings and remain a leader in their industry. This comes from the correct understanding that taking the foot off the accelerator will eventually lead to decline.

We will continue with attributes of a healthy company next month, or you could contact us directly and get those answers immediately!


If you need assistance with anything we’ve discussed here, let’s talk so you can reach your financial goals, growth, and revenue. Spend your time doing what you do best and make more money by having us solve your most pressing financial issues.