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SWOT Analysis 101: How It Can Help Your Business Succeed
One of the first things you learn in business school is the SWOT analysis. It’s an incredibly simple, yet still powerful, tool to help you develop your business strategy. It is surprisingly effective whether you’re building a startup or guiding an existing company. And one of the things about a SWOT analysis, is how straightforward […]
3 reasons a personal budget is vital for achieving financial goals
If a business owner said to you that they run their business without a budget, what would you think? You’d think they were incompetent. Or perhaps lazy? Or both? But what do most families do? When you think about it, a family is actually a mini business. There is income, there are expenses and there […]
Why a good cash flow can be more important than a big profit
There’s a saying in business, “You can go broke making a profit.” And another, “Cash is king. Profit is theory.” As you know only too well, you don’t pay rent, meet payroll or pay your bills with profit. You pay them with cash. A business can make a lot of sales, have a book full of orders, […]
Cash Flow: Why Your Business Needs to Forecast & How to Get Started
A cash flow forecast is a plan that shows how much money a business expects to receive in and pay out over a given period of time. If a business runs out of cash and is not able to meet its obligations such as paying suppliers, creditors and staff, it will become insolvent. It is never […]
