The role played by a “Cash Cow” component in your business portfolio is often undervalued and overlooked. Simply stated, the term “Cash Cow” is a term commonly used to describe a product or service which consistently generates positive cash flow. Typically “cash cows” are well established and within the mature stage of the business cycle. As such they offer limited opportunity for growth and require minimal new investment.
Start-up businesses typically work with a limited cash reserve. As an initial step in your planning process, prepare a cash flow projection for the purpose of finding the point at which the business will reach a “breakeven” point” and subsequently begin to generate a positive cash flow. Despite the amount of research carried out by entrepreneurs, often revenue projections are overly optimistic and operating costs underestimated.
The hour will be dedicated to answering your money management questions and offering advice that you can implement today. Read more
Getting customers remains the top challenge for small business owners but cash flow, inflation and supply chain disruptions are growing concerns. 30.5% list inflation as a top... Read more
SCORE surveyed small business owners how they’re managing profits, sales and expenses in the current economy, and their response to business challenges to stay profitable. Many... Read more
To help small business owners and entrepreneurs save taxes through legitimate and easy ways, we asked experienced entrepreneurs and financial advisors this question for their best strategies. From hiring family members to implementing HSAs, there are several simple ways that may help you save taxes.
To help women entrepreneurs and small business owners overcome their challenges, we asked founders and CEOs this question for their best advice.
The unexpected can happen at any time, and when it does, you have to reevaluate your business plan so you can survive and move forward. Sudden market changes can bring a business to its knees, but with good preparation, your business can stay standing and grow even stronger and bigger.
Make sure you're financially prepared for 2022 by setting attainable financial goals for your small business.