Your company’s sales can drop for a number of reasons. You might own a seasonal business that sees lots of activities during certain times of the year and a significant decrease in sales for the rest of the time. The state of the economy could be keeping customers away. Whatever the cause of slow sales, …
5 Expenses You Can Cut to Keep Your Business Afloat
As a general rule, the more cash your company can keep on hand, the better. The phrase “cash is king” takes on new meaning in the middle of a recession or downturn, when your sales might have dipped and your revenues have fallen. There are many things you can do to help your business survive …
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How to Re-Engage with Customers
After being closed for several months or having your business activities dramatically restricted as a result of stay home orders, your county has finally given your business the green light to reopen, provided you take certain precautions. You might be ready to get back to business and establish a new normal, but are your customers? …
How to Support Your Team When Your Business Reopens
After several months of stay-home requirements and business shutdowns, companies across the U.S. are beginning to make plans for what comes next. For many companies, that means reopening and attempting to get back to normal as much as is possible. As your company prepares to reopen, your employees might be concerned about what going back …
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How Your Company Can Emerge Stronger From a Crisis
Most people don’t want to think about crises coming up and throwing a wrench in their business plans. But crises can, and do, arise. You might find your business in the midst of one right now. While in some cases, a crisis, such as a natural disaster, a scandal or novel virus that causes a …
How to Raise Capital in a Recession
Raising capital for your company can be challenging enough during times of expansion and when funds seem to flow freely. How can you get the funding you need to keep your business operational during a downturn or recession? While raising capital can be more of a challenge during financially difficult times, your business does have …
Succession Planning
As much as you would like it to, things won’t stay the same at your company forever. Your favorite employees might move on to new roles or new projects at some point. You are likely to eventually decide to try something new, retire, or sell your business. Knowing who can step forward to replace managers …
Understanding the CARES Act and What it Means for Your Business
At the end of March, the Senate voted to pass the Coronavirus Aid, Relief and Economic Security Act (CARES Act). The Act was signed into law by the President shortly after it was passed. An unprecedented relief act, CARES is a stimulus bill designed to provide more than $2 trillion worth of financial relief to …
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Is it Time to Pivot Your Business?
Your company feels stuck. Perhaps things went well at first and you had a lot of sales and customers. The customers you did get were happy to tell people about you. But then something happened and now it seems like you’re struggling to retain clients or struggling to get new customers interested in what you …
How to Build or Rebuild Business Relationships
What’s one thing every business owner needs to thrive? Relationships. Behind every healthy company is a network of business relationships. Those relationships provide support to the business owner as well as much-needed advice and ideas. In some cases, relationships support the day-to-day operations of a company and provide financial support to it. You can divide …
How a Virtual CFO Can Help During Times of Uncertainty
By now, we’ve all seen what can happen during times of uncertainty. People panic-buy items they might or might not need in large quantities. They sell stocks, causing the market to plummet. They feel a sense of loss and fear and generally don’t know what they’ll do next or where they can turn. The same …
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How CEOs Can Know When It’s Time to Pass on the Reins
The average CEO spends about five years on the job. When you started your company or stepped into the role of CEO in someone else’s place, you probably realized that it wouldn’t be a permanent position. Even if you enjoy the work you do, or are proud of the company you created, you want to …
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