When Should You Get an Appraisal For Your Business or Property?

by | Mar 15, 2016 | Business Profit & Cash Flow Tips, Current Affairs, Other, Small Business Owners

There are many places in tax law where the IRS imposes very strict substantiation rules.  Here are the two main reasons I recommend getting a professional appraisal: Claiming a charitable contribution for property donations.  The IRS requires you to attach...

What Is Your Company Strategy?

by | Mar 11, 2016 | Business Profit & Cash Flow Tips, Business Success Series, Small Business Owners, Small Business Success Series

Simply put, a company strategy is how you are going to reach your long-term goals from here.  If I need to get to San Diego from El Paso in the next couple of months, my options are almost endless.  If I wanted to, I could copy one of those Bike Across...

Set Up Credit Lines When You Don’t Need Them

by | Mar 10, 2016 | Business Profit & Cash Flow Tips, Business Success Series, Small Business Owners

Every business owner knows that the cash coming in doesn’t always match up with the cash going out.  This is especially true for start-up businesses or seasonal businesses.  Without the necessary cash reserves to ride out the tough times, many business...

Eliminating Your Profit Killers

by | Mar 4, 2016 | Business Profit & Cash Flow Tips, Business Success Series, Small Business Owners, Small Business Success Series

After working with thousands of small business owners over the last thirty years, I have noticed that there is very little actually separating those who are fantastically successful from those who are struggling.  Many business owners I have worked with...

Using the 10 Percent Profit Formula to Thrive During Tough Economic Times

by | Mar 3, 2016 | Business Profit & Cash Flow Tips, Business Success Series, Cash Flow, Cost Cutting, Small Business Owners

Business owners rightfully see their businesses being affected negatively by increases in federal and state taxes, tougher bank credit rules, increased audits by the IRS and state, customers who are more cautious with their money, and ObamaCare taxes and rules. What...

Flying Blind Leads to Disasters

by | Feb 26, 2016 | Business Profit & Cash Flow Tips, Business Success Series, Small Business Owners

Entrepreneurs are sometimes lulled into winging it, managing by the seat of their pants, and flying blind. They forget about staying on top of the “performance numbers” that are important indicators of their business’s health.  They don’t look for feedback that...