Cash Flow Is the Lifeblood of Your Company

Cash Flow Is the Lifeblood of Your Company

  • Posted by Clare Ursillo
  • On June 16, 2011
Understanding the concept of cash flow and how to manage it is essential in today’s business environment. Many small businesses fail because of inadequate working capital and poor cash flow management. The owner often confuses the terms “profit” and “cash flow.” Profit is not the same as cash flow even though there is a relationship […]
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Communication Skills Vital

  • Posted by Clare Ursillo
  • On June 14, 2011
Business relationships don’t always go smoothly. But building and maintaining good relationships with customers, employees, suppliers and even competitors is vital to becoming a successful small-business owner. To keep good relationships, you need to learn how to react when difficult situations arise. This requires patience and the application of excellent communication skills. Training in better […]
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Important Tips for Finding Happiness at Work

  • Posted by Clare Ursillo
  • On June 8, 2011
Writing about happiness might seem a stretch for a professor of marketing, but I have been leading an honors section of Georgia Southern’s freshmen orientation class titled “Finding Happiness in Today’s Consumption-Oriented Society.”  Marketers share some blame for the overt materialism that undermines much happiness in our lives today, and I will try to rectify […]
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Don’t Be Intimidated By Financial Documents

  • Posted by Clare Ursillo
  • On June 6, 2011
I have always been surprised by how many business owners don’t use their financial statements to manage their business. But over the years, I have come to understand why. It’s because they don’t really understand those statements. One of the first things I tell business owners when teaching them about financial statements is that looking […]
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Be Prepared for Seasonal Sales Changes

  • Posted by Clare Ursillo
  • On June 3, 2011
Many of my clients have to deal with the fact that their sales can vary significantly depending on what month of the year it is. These seasonal changes can have a negative effect on the business’ cash flow when sales drop. And although having more customers is normally seen as a good thing, the busy […]
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Should You Open a Second Location?

  • Posted by Clare Ursillo
  • On June 1, 2011
Sometimes small business owners who have achieved success in their retail business decide to expand. They often do this by opening a second location. The owner of a successful gift shop may decide to open a second gift shop in another part of town. But it can be dangerous to open a second location. You […]
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Show Lender You Know What You’re Doing

  • Posted by Clare Ursillo
  • On May 23, 2011
I often hear aspiring entrepreneurs complain they cannot get funding for a business startup. While it is difficult to obtain funding, it is not impossible. There are lenders willing to make startup loans, especially if the Small Business Administration (SBA) is willing to back up part of it. But you need to understand startup businesses […]
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Tips for Hiring the Right Employee

  • Posted by Clare Ursillo
  • On May 20, 2011
Planning your efforts and focusing on what you really need throughout the hiring process will improve your chances of success. Here are some tips for hiring the right employee for your small business. Understand the legal issues The process of finding and hiring employees for your small business can result in legal problems. Educate yourself […]
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Can the Dead Liven Up Your Marketing?

  • Posted by Clare Ursillo
  • On May 16, 2011
What do the promotional strategies of a rock band have to do with modern business messaging? Plenty, according to David Meerman Scott and Brian Halligan. Scott and Halligan are authors of Marketing Lessons from the Grateful Dead: What Every Business Can Learn from the Most Iconic Band in History. From strong brand loyalty to effective […]
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Don’t Overlook Competitors

  • Posted by Clare Ursillo
  • On May 13, 2011
Few things can doom a small business more effectively than “no competition.” When a prospective small-business owner tells me that one of the reasons he wants to start a certain type of business is because “there’s nothing like that here, so there’s no competition,” he has dismissed a very critical part of the planning process. […]
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