Financial Planning and Analysis
How to Build Good Business Credit
When it comes to the importance of building good business credit, it can be helpful to think of that family member who is always asking for money. There’s at least one in every family. The problem is the one who’s always asking to “borrow” money, is the one who is least likely to be able…
Read MoreWhat Are Business Investments? Are They a Good Idea?
If you’re wary of investing in your business, it might be because, when you think of spending money you’re not sure will pay off, you think of someone like Jean Ralphio and Tom Haverford in the show “Parks and Rec” spending money on ridiculous things (like a limousine with a hot tub) because they’re all…
Read MoreAccounting Is the Language of Business
Have you ever walked into a doctor’s office and felt like you entered a different world? Not only are there instruments and appliances you never see anywhere else, but the people in there seem to use a different language, especially when they talk to each other. Your doctor could be talking to you in English…
Read MoreIs There Such a Thing as Good Debt in Business?
One of the first things we learn about managing money is the importance of budgeting and making sure we’re not spending more than we have. Tied into that lesson is the idea of “debt” as a kind of bad word. We tend to think of it as something to be avoided at all costs. But…
Read MoreHow Long Could Your Business Survive on Cash Reserves?
Most kids have a glass or ceramic piggy bank in which to save up their coins. To a kid, a piggy bank full of coins seems like a lot of money, but in reality, most of them only hold a few dollars. While that might seem like a lot to a kid at the time,…
Read MoreDirect Costs vs Indirect Costs: What’s the Difference?
When determining the price of your products/services, you need to make it low enough that you’re not pricing yourself out of business, but you also want to make sure it’s high enough that you make a profit. The obvious way to do that is to add up all the costs involved in making the product/service,…
Read MoreWhat Are KPIs and Why Are They Important to Track?
Ever feel like your accountant is speaking a different language? Every industry comes with its own acronyms and lingo, and the world of accounting is no different. We use different terms to talk about how we’re tracking the financial health of your business, and one of the most important things we look at is your…
Read MoreWhat Is a Fractional CFO?
You probably already know that CFO stands for Chief Financial Officer. It’s a position usually associated with large corporations working in sprawling offices in skyscrapers. But what if you own a small business that can’t afford the high salary of a CFO, but you still need the services and expertise of a CFO? That’s where…
Read MoreDoes My Business Need a Savings Account?
As individuals, we are often told having a savings account and contributing to it regularly is part of being smart about money. But business owners are not always told about the benefits of having a savings account for their business. As with personal savings accounts, there are pros and cons to having a savings account…
Read MoreRevenue vs Profit: What’s the Difference and Why Does It Matter?
Every business needs to know how much money it’s bringing in, but if you’ve ever told someone how much your business makes, you’ve probably heard this question: Is that revenue or profit? Some people will say gross revenue, but the meaning is essentially the same. High revenues are always impressive, but if your expenses are…
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