Skip to main content

Category Archives: Small business financial help

1 Tip – Managing Your Interest Rate Risk in Business

Depending on how much debt your business carries, your exposure to changes in the interest rate could be high or low. The best advice I can give about the future of interest rates: Don’t believe the fortune tellers! If your banker says, “ We don’t see interest rates rising for a couple years."  - Don’t believe him. If the media makes... Continue reading

Instant or Deferred Gratification?

There can be a tendency to celebrate short term business success too soon. Let’s say your business has a good month and you make a nice profit. Should you take a bonus? Should you reward yourself right away? There is a philosophy out there that says to wait – to defer to the future. This is based on the assumption that when a business does ... Continue reading

Managing Your Interest Rate Risk

It seems 'the crowd' is assuming that interest rates will remain as low as they currently are for a few more years. A year ago this was true also. And since then the rates have actually gone down! Although I can’t predict the future, there is one thing that concerns: Since banks go out and borrow the funds they loan out for fixed rate mortgages,... Continue reading

Rent Some Money to Make Some Money

Have you ever heard the saying, ‘you need a quarter to make a dollar’? What if your business has the opportunity to purchase $100,000 worth of new product that can be resold at a 35-40% mark-up? Why wouldn’t you buy it?  One reason you might not make the purchase is you don’t have an extra $100,000. Even if you have credit available, s... Continue reading

A Simple Solution to Small Business Cash Management Problems

I was talking yesterday with a client who I consider to be the best at collecting money as a small business owner. Quite a few years ago he actually went to jail trying to collect money from one customer because he tipped a desk over on him! – He doesn’t recommend that approach. The secret to easy collections is the conversation BEFORE the sal... Continue reading

The Economy and Small Business

This post is about the relationship between the economy and growing your business. Mr. and Ms. Small Business Owner - It’s not the economy! With the recent downward volatility in the stock market, the threat of a double dip recession and a poor job outlook, you may wonder why you shouldn’t just liquidate your business and hide under a rock. ... Continue reading

Slow Paying Customers

When a customer is tardy in paying their account, they typically get a lot of attention from you as a business owner. You might even call them up and ask how things are going and find out if you can help them along – so they can pay their outstanding account! But when a customer pays you right away, you tend to do nothing – except cash the che... Continue reading