Ever feel like your business is profitable, but you’re still struggling to pay bills and cover day-to-day expenses? Today we’ll build on the Working Capital 101 concepts we covered last week and drill deeper into the differences between profit and cash flow. Remember: Profit does not equal cash flow Here’s a basic formula/visual walking from revenue down to profit…
Writing out a yearly plan is a fairly simple process. In a nutshell: This year, I’m creating a “business bingo card” for a quick overview of the things I want to accomplish in 2025. That way, I’ll have a nice visual layout of my goals and everything lives on one page. How it will work…
What makes a great business? When I worked in the investment industry studying and investing in public companies, I was often searching for “great businesses” and over my career developed a short list of characteristics that (I think) make a company great. Why should this matter to you? These traits are in no particular order,…