Financials

A recurring theme amongst small business owners is that business plans are not useful for the small business owners. There is a saying that goes, if you think you can or you think you can't, either way you are right. In other words, if you think business plans are useful or useless, either way you are right: Your mindset determines the success of your actions. I find the reason why

Successful businesses are able to turn cash into assets that generate revenue. The shorter the number of days between asset acquisition and revenue, the more cash the business has. In the digital business, the assets purchased or developed are in digital form and often non touchable. The digital business is unique in that unlike its product business counterpart, the cash generated during the cash development cycle could keep generating cash

Do you operate in a vacuum? That is you run your business hoping all will go well. Unfortunately, without good planning a business cannot go too far. One tool business owners can use in planning is the budget. A budget helps a business owner plan to measure how effective the business is in reaching its strategic goals. A budget has three major goals: Planning: A business with a plan of

The future is linked to the past so what you do today matters. The problem is there often a time lag between action and reaction. For example being overweight does not happen overnight but is an accumulation of years of bad eating habits. Some actions may not have reactions for 10 years to come. While no one can predict the future, there are certain things we can predict because of what

Have you ever thought if you are operating the right size business? The right size for a business varies with the industry. The right business size is the size where business has the most competitive advantage. Depending on the industry a business could best serve its customers as either being small or big. Being the wrong size for your business can cause bankruptcy. For example, a business owner starts a