Why does having a profit not always translate to available cash? Unveil the connection between profitability and cash flow challenges, exploring the factors that can leave you questioning the absence of funds despite a profitable outcome.
Preventing fraud safeguards our company and employees from reputational harm and legal issues arising from vulnerable moments.
Pool contractors, did you know: If you raise prices 1%, you will increase your net profits 14.5%? If you increase...
Net working capital is one of the most important measures of a company’s health because it indicates the ability to pay debts on time.
Every business owner wants to increase net profit, and there are two common approaches to doing that: increasing prices and cutting expenses. However, there is another way to increase profit without raising prices or slashing expenses: performance pay.
In the September/October issue, I defined EBITDA as net profit adjusted to make it more useful for business valuation. To estimate a company’s value, valuers multiply EBITDA by a number called the “multiple.” The result is the estimated value of the company.
Imagine pulling up to an appointment at a prospect’s home. You worked hard on the bid, but as you approach the door, your mind starts to whisper, “I can’t do this. I’ll mess it up. They won’t pay that much. I’m not qualified.”
When you’re on a journey, you need a starting point and a destination to be successful. In business, we use key performance indicators to map out those points and improve profitability.
As a coach, I’ve witnessed a lot of suffering in business. Some of it is normal and transient, but a lot is persistent.
I often hear contractors talk about the nice profit they made on a job. I understand what they are getting at, but what they really mean is they made a nice margin on a job. Margins are not profit. Your ability to earn a consistent profit depends on understanding the difference between the two.
