Tag: Forecasting
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How Much Cash Should Your Business Keep?
How do you know whether you have enough cash in your bank account? This is a common question in both business and personal finance. My guess is you’re taking one of the following approaches: Why should your cash balance matter to you? What about some strategies for determining cash reserves? Here are 2 simple approaches…
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Spot Trends in Your Business with Simple Visuals
There are only 3 ways to convey information: If we rank them from easiest-to-hardest-to-understand, then it probably goes: 1) pictures, 2) words, 3) numbers. So why are we exclusively using numbers to understand our financial position? Enter: pictures. Why this matters? Aside from our inability to decode numbers in general, a single number (or a…
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Forecasting Made Simple
I’m tired of seeing crummy articles about building a budget, forecast, model, etc. so I decided to create this incredibly simple yet practical guide to budgeting. [In case you didn’t pick it up, I use the terms budget, forecast, and model interchangeably.] What are the steps? You likely already know what a budget is – we’re trying…