- Banking, schmanking: Credit problems and interest rates are sapping my business’s strength.
Leave it to a lack of cash flow to train-wreck our credit health. Oh, we eventually got our revenues back on track all right, but the interest we’re now paying for available credit is enough knock the wind out of anyone’s sails. Is there way to get back to a regular banking relationship – one that doesn’t kill me, but is strength-building for both?
- Job costing for us is a game of strain and drain: We strain to do well, but drain our budget in the end. How can we track our progress so we don’t go off the rails?
I don’t know whether we’re bad about low-bidding or not charging for services, but our bottom line shows we’re not managing our costs. We’ve got to get a grip on managing costs, so that when we make it to the finish line, the budget’s not torn to shreds.
- I’m obsessed with putting my weight behind our new product line – so much so that the rest of my business is starting to atrophy.
It’s hard to keep focused on all parts of our business because this new product line is the wave of the future. That being said, a product line is only as strong as the whole corporate body. Is there a way to get our company focused on this new product line without unintentionally neglecting our business’s overall health?
- Pore over my financials? Who has the time? That’s why I generally just go with my “gut.”
Every month it’s the same thing: I get a big stack of spreadsheets on our corporate financials but never get to them because I don’t have the time. So, I just go with my “gut” and trust my CFO’s (CPA’s) take on the state of our business health. Is there not a way to provide a clearer financial overview – one that validates my “gut” but is also easy to read?
- I’m getting my tail pounded by lack of cash flow.
I need to make some investments in my business, but my Accounts Receivable column is gasping for air. Money is energy; it’s the lifeblood of the business. Until it comes in, my business is down for the count.
- A division of our company is a force to be reckoned with. Now that someone wants to buy it, does it make sense to sell? My biggest fear is losing my shirt.
It’s flattering that our business is getting some attention, but how do we know we’re not selling our strength? Sure, selling a key division might boost us in the short term, but what will be the effect on our long-term health?