Archive for the ‘Financial’ Category

Source: iStockPhoto

Fernando Labastida, Communications Specialist

So maybe you’ve survived the recession up till now without having to make any cuts. You’re either lucky or you’re from Texas.

Well never say never.

When things get tough, real tough, you have to cut expenses. What’s the first thing most businesses think of when they want to reduce their expenses so they can survive another quarter? The largest expense category on the books: labor.

But not so fast: you may be cutting valuable muscles and brains.  Read more... (397 words, 2 images, estimated 1:35 mins reading time)

Source: iStock Photo

Rodrigo Rosas Ventura, special contributor

Everybody has, at one time or another, sold a product or a service.  That product or service was either sold at a loss or at a profit. But here’s the rub: many of us don’t know if we’ve actually made money on that sale or lost money.

Many companies focus on staying afloat, sacrificing financial viability in favor of surviving day to day. This situation may not seem so bad in the short term, but when it eventually manifests itself it maybe too late for the business’s survival.  Read more... (808 words, 1 image, estimated 3:14 mins reading time)

Tracy Fabian, pre-sales engineer

Company Financial Health: Not Just Revenue And Expenses

In today’s economy, it is imperative that organizations track the financial status and health of their company.  It is not enough to only track cash or revenue coming into the company; you also need to track what is leaving the company.  Just as important, if you are an organization with inventory, you need to be able to tell quickly how much money you have tied up in inventory and what products are moving the quickest vs. what products are sitting on the shelves.  Read more... (436 words, 2 images, estimated 1:45 mins reading time)

Source: iStockphoto

By Eduardo Carajal, special contributor

You could be bankrupt right now, and not even know it.

Many businesses find out whether they’re failing financially 6 months after the fact.

They operate for 6 months without taking any corrective action, either through ignorance or because of fear of shutting down an operation that has become their daily routine, a way to keep busy and escape idleness.

Whatever the reasons for ignoring this unfortunate situation, the more it is ignored, the larger the problem becomes, like a growing snowball rolling down a slope.  Read more... (381 words, 1 image, estimated 1:31 mins reading time)

Fernando Labastida, Communications Specialist

As a CEO of a small but growing bricks and mortar company, you know how difficult it is to finance growth with bank loans these days.  And you also know that venture capital money is typically the domain of new and sexy technology companies.

But you’re growing, and you need to continue your upward trajectory. Cash is king, but it’s also scarce just when you need it most: when sales are increasing.

Well, there’s good news: you have hidden cash in your business that you don’t know about.

Ken Kaufman, CEO CFOWise  Read more... (621 words, 3 images, estimated 2:29 mins reading time)

In my last post, How Small Business Can Survive The Recession With Business Intelligence, I talked about how small companies, in general, can utilize business intelligence tools to help streamline their business and cut costs.

I know I was a little sparse on the details.

Fortunately we’re starting to see more bloggers, such as Ken Kaufman at the CFOWise blog, explaining the basic indicators that small businesses should measure in order to be successful.

I too will go into details here as to what immediate concrete steps YOU can take if you’re a small retailer, manufacturer or wholesaler, to tune-up your business during the recession using Business Intelligence tools.  Read more... (518 words, 1 image, estimated 2:04 mins reading time)

Business Intelligence for Small Business Source: iStockPhoto

Small businesses today are in survival mode.

That’s the stark conclusion from a recent blog post “Small-business optimism rises-but so does stress,” by Rieva Lesonsky. She cited a recent American Express OPEN® Small Business Monitor survey.

Forty-one percent of those surveyed said their focus for the next six months will be maintaining current sources of income; just 26 percent are focused on growth—the lowest number in the history of the Monitor survey.

How can you, as an entrepreneur, survive while maintaining current sources of income?  Read more... (730 words, 1 image, estimated 2:55 mins reading time)