“If you sold your business today what would it be worth?“.
Chances are the number you have in your head and the number a buyer is willing to pay for your business are not the same. The means to bringing those two numbers closer together isn’t magic…it’s in long-term planning. Continue reading
When I meet with clients about their business I ask what their business strategy will be. Some say “I’ll charge less than my competition.” Wrong answer!
Let me ask you a question. What do these companies have in common?
Rolex, Mercedes, Gucci, Starbucks Continue reading
When you talk about your business with someone that might have an interest in loaning you money, or joining you as a partner, or buying the business, they will want to see the Cash Flow Statement. Continue reading
Why is it that we put so much emphasis on a business plan? The goal is to be able to determine if you have a viable business. What is a viable business? A business that is freestanding, self-sustaining, capable of making it without outside financial support. That means no credit card debt, no loans, just the business itself, standing alone, able to meet all the expenses from the transactions of the business. Continue reading
In Part 1 I mentioned that John McCarthy, computer and cognitive scientist who coined the term “artificial intelligence” stated…”he who refuses to do arithmetic is doomed to talk nonsense.”
Recently I wrote about KPIs, Key Performance Indicators. In Part 1 of this series, I presented a few ratios that might be your KPIs, or a part of your overall watchfulness of the numbers in your business. In this post I’m going to review some calculations to determine what typically happens in your business. There are four common methods of calculating a typical value: mean, median, mode and midrange. Don’t run – stick with me – it will be painless, I promise, and if you need more help, call for an appointment to work on the numbers for your business. Continue reading
John McCarthy, computer and cognitive scientist who coined the term “artificial intelligence” stated…”he who refuses to do arithmetic is doomed to talk nonsense.”
In the next few newsletters I hope to help you through some of the numbers of business. Recently I wrote about KPIs, Key Performance Indicators. Many of the KPIs in business take at least a basic understanding of a few mathematical concepts. In this article I’d like to introduce or reintroduce you to Ratio. Don’t run – stick with me – it will be painless, I promise, and if you need more help, just call for an appointment to work on the numbers for your business. Continue reading
Labville is a STEM – Science, Technology, Engineering and Math – group for all ages. The goal is to highlight a topic each month and introduce it to the public at a level we can all understand. August will be 3D Scanning that can lead directly to 3D printing or other means to create the model outside of the computer. Continue reading
Lots of small business owners start out thinking they will do everything they possibly can in their business to keep costs low, including doing their own accounting. Some have learned the hard way that small errors can add up to a big mess. Continue reading