Blogs

The end of the year can be an ideal time to look back at the progress your company has made and celebrate the collective effort that helped you reach your goals in the past year. After all, a key way to boost morale is to recognize past successes. But at the same time, it’s also helpful to start thinking about strategies for long-term business goal setting. Did your company miss any benchmarks this year? Gaps in your high-level strategic planning for the past year’s cycle are likely to blame. So, to bring about scaled growth, you’ll want to consider improving internal goal alignment across...

Anybody can make money in a thriving economy—but can they maintain profits during an economic downturn? As a small business owner, worries of an economic downturn might keep you up at night. Do you have enough cash on hand to cover your bills? Will next quarter’s product launch fall short of projections? Can you last for months on end if the market doesn’t recover quickly? Most likely, you want to avoid navigating economic uncertainty without a plan. One of the most proactive steps a business owner may take is to develop a strategic plan for challenging times. Imagine you’re a football coach...

No one can foresee what the future holds for any business but having business emergency funds available can help with keeping afloat during difficult times. Let’s dive into business emergency funds: what they are, how to calculate how much to save, how to set up an account, and strategies that may streamline the whole process. What Are Business Emergency Funds? An account earmarked for business emergency funds provides you with a nest egg to use for emergencies and new opportunities that fall on your business doorstep. Also called cash reserves, capital reserves, retained earnings, or...

Cash flow management is crucial for the success of your small business. By understanding your inflows and outflows and anticipating common cash flow pitfalls, you can leverage best practices and make better-informed, data-driven business decisions. As a small business owner trying to survive these turbulent economic times, being strategic with your cash flow is essential. When small businesses fail, poor cash flow management is often a contributing factor, if not the primary factor. While it does take time and energy to track the money coming in and out of your business, failing to do so means...

Small business owners can’t overlook their fraud prevention strategies. The extra cash you might save from cutting corners isn’t worth the money you could lose to scams and hackers. Ensure your employees are well-versed on all the latest techniques cybercriminals use to obtain corporate money and company data. Employees are your most vulnerable access point when it comes to fraud. Malicious actors can easily infiltrate their emails and personal devices to swindle money out from under the company's nose. Even worse, they can do irreparable damage to your business' reputation. But you can...