May 5, 2016
Does this sound like you: “I’ll just work harder and sell more stuff/get more clients. That’ll turn my financials around.” Well, as Jay Goltz says in his FSB article, “Why Small Businesses Fail,” working harder won’t fix a broken businesses model. You’ll either face burnout, or worse, a bevy of legal headaches resulting from your inability to pay vendors, employees, and other creditors. As frustrating and daunting as it may seem, “every business owner needs to be his or her own CFO,” says Goltz. But how do you know what to look for? How can you make more informed decisions? One way, certainly, is to hire a CPA or CFO to help you interpret the numbers (and educate you in the process so that you know what you’re looking for). Another, suggests Alan Badey, in his New York Enterprise Report article, “Uncover What Your Numbers Say About Your Business,” is to create a basic business dashboard so that you can see and analyze the numbers that substantially affect your bottom line. These include: Using existing…
Continue ReadingFrom Daneen Skube, Ph.D., in the Seattle Times came this question-and-answer about business partnership: <<Q. I’m thinking of going into business partnership with my friend. Is there any question I should consider to help me make…
Read MoreListen to the Episode Below: As entrepreneurs, we often only want to talk about our top line. Your big money is the sexiest part of running your own business, but how can you guarantee bragging…
Read More“I only want to focus on 3 things,” says Caryn. “But who will do the rest?” Burned out, tired, and constantly pulled away from her family, Caryn Kopp reached her limit. Her company, Kopp Consulting,…
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I know first-hand that running a knowledge-based service business has unique challenges. It’s so much easier when you have an advocate in your corner. Over the past 25 years, I’ve worked with thousands of New York business professionals who want a legal advisor to guide and support them as they navigate the business world.
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