Boost Profit & Cash Flow

Count the Cash. Insist on Profit

Michael Van Horn

#7 in the series

You are in a business to make a profit.

You have other reasons as well, but none can be realized if you don’t make a profit. So getting the best financial performance is critical to achieving your business goal.

You may initially focus on getting any business. You go for the revenue! But before long you say, “Profit is no longer optional for me. Everything we do must be profitable!” This is a key transition in your company’s growth.

This kit of tools helps you overcome the profitability killers of small business and build a “culture of profitability” in your company.

Here are some of the tools we’ll cover

Price for profitability. Know how much profit you need.

Create financial statements that are an effective tool for managing your company.

Calculate your gross margin, for each part of your business.

Know the profitability of your next sale, and how to compare profitability of alternatives

Know the value of your own time.

Watch cash flow as well as net profit.

Watch costs like a hawk even when times are good.

Keep your eye on the balance sheet. Cash, receivables, payables

Hire a CFO, not just a CPA.

Borrow money when you don’t need it.

Know the sources of growth capital and their cost.

You don’t have to be a financial whiz to understand these tools. They are presented in small-business-owner-friendly language.

Warm up exercise

From the workbook

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