If you feel like you struggle with the financial aspect of your business, you aren’t alone. Not everyone is an accountant, and those who are — well, typically they are busy running accounting businesses. So, it’s no wonder that, among all other business dynamics, finance is one of the most underappreciated of the eight business fundamentals.

For many, the two most intimidating of the eight business fundamentals are financial and legal. Business owners get stuck in a pattern of doing things the way they’ve always done them, with the attitude of “good enough is good enough.” Couple that with the desire to avoid the expense of talking to an attorney or a CPA, and after a while you are routinely stepping over a dollar to pick up a dime, as the old saying goes.

There are huge opportunities to continue to improve efficiency in the way your business operates. Yet business owners are often unable to see past the way they’ve “always done things.”

Market cycles make headlines, no matter which way things are going. While it’s useful to understand past cycles and be aware of market changes, that awareness won’t be of use unless your business is also prepared.

“The longer I go on, the more I am aware of the power of finance.” – Justin Welby This is the third and final installment of our series discussing the financial fundamentals impacting the health of your business.

Are you able to see a stable future with your cash needs? In this month’s Navigator, we continue our focus on honing financial skills, this time with a dive into cashflow projections. We hope you will find this information useful. Let us know what you think!

How have you been sleeping? During times of doubt, uncertainty and rapid change, business owners across all sectors often feel extreme concern when it comes to the financial health and stability of their business. This can easily translate into irritability and restless nights. It can even put stress on family relationships.

Financial Fundamentals Part 2 September 14, 2021As we discussed in our previous blog, a fundamental dynamic of business is paying attention to the organization’s financial performance and stability, not just for now but sustainably into the future. A reliable method for doing this is through the development of financial and nonfinancial benchmarks. Benchmarking measures performance to track current results and

Financial Fundamentals Part 1 September 7, 2021A fundamental dynamic of business is paying attention to the organization’s financial performance and stability, not just for now but sustainable into the future. The best way to do this is dropping the old mentality that the accounting and finance department is strictly for reporting history and counting widgets. The financial department should be

In his classic story, A Christmas Carol, Charles Dickens wrote: “I will honor Christmas in my heart, and try to keep it all the year. I will live in the Past, the Present, and the Future. The Spirits of all Three shall strive within me.” Christmas is such a wonderful time filled with beautiful memories of the past, meaningful moments to appreciate in the present, and a look to the future with wide-eyed high expectations. It’s an ideal time to also bring that same optimistic perspective to our businesses. It’s a time for us to be our best selves.

“Put your hand on a hot stove for a minute and it seems like an hour. Sit with a pretty girl for an hour and it seems like a minute. That’s relativity.” – Albert Einstein And yet, for those of us not blessed with an astronomical IQ, time does seem to be speeding up. I often compare the second half of a year to the second half of a gas tank. The first half seems to take forever; the second disappears in the blink of an eye. Which is how we find ourselves, ready or not, in October with the holidays staring us in the face.