COVID-19 Stay at Home Rules – How Do I Know if my Business is “Essential” and How Do I Prove It?

A growing number of states and local municipalities have issued “stay at home” orders to control the spread of the coronavirus outbreak.  The result is a hodge-podge of local and state directives, and experts predict soon over half of all Americans will be under instructions to stay home. By now most people know that “essential businesses” like food suppliers and healthcare operations are permitted to stay Read More

Is Coronavirus (COVID-19) Affecting Your Business? Your Legal Contracts May Save You.

As a business owner or executive, reading through the legalese of your key contracts might not be high on your list of priorities when you’re figuring out how to survive a global pandemic.  I have news for you - buried among dozens of pages of ten-dollars words might be a contract terms of great importance: the force majeure clause. What is a force majeure clause? A force majeure clause in a contract Read More

California Consumer Privacy Act: A Natural Progression of Ever-Evolving Data Privacy Laws

Online personal data protection concerns are the driving force behind new regulations around the world.  As new data privacy laws are manifesting in various jurisdictions, businesses in every part of the U.S. are affected.  Last month we published an article on European privacy laws, in particular, the EU’s General Data Protection Regulation and its applicability to the US-based organizations.  In this Read More

European Data Privacy Laws – Why Should I Care?

GDPR has frequently been mentioned in the US technology and business news, but most US-based businesses haven’t worried about the details. GDPR (the General Data Protection Regulation) is a European data privacy law that controls collection and processing of personal data of individuals within the European Union (EU).   In an effort to establish digital rights for European Union citizens, the law addresses the Read More

7 Cash Flow Tips You Overlooked

When it comes to your business’s cash flow, there are some things that are out of your control -- when a customer decides to pay an outstanding invoice or the length of your Accounts Receivable list, for example. However, you are in control of a huge part of your business’s cash flow, and we’ve compiled a few tips you might have overlooked. In order for Profit First to work the most effectively in your business, Read More

What "Should" Your Profit Be?

A lot of businesses learning about Profit First ask, and sometimes don’t get a very satisfactory answer to the question “What should my profit be?” How profitable should my bakery, my marketing firm, my construction company, whatever it is, how profitable should it be? What is the percent I should be shooting for? People want some kind of magic answer so they know the number they need to reach. They want to look at Read More

Don’t Grow Broke – Why So Many Business Owners Don’t See the Rewards from their Business

Whenever you grow your business, you spend money before you know the results, or return on that money (i.e. sales). The faster you grow and the more you grow -- the faster that growth sucks cash out of your business! There is only one place money can come from to fund growth, your profits. So your growth can’t exceed the money you have available in profits or you start to “grow broke.”  Watch our Law Firm Read More

What you can cut and what you must never cut! Dynamic vs. Static Overhead

When you agree to follow the Profit First system in your business, you decide right then and there to let the business struggle so that you don’t have to. The next step is to make a plan for how your business will no longer struggle, but survive and thrive! How does your business survive? There are two ways. One way is to cut the waste in your business (and make sure you’re cutting the right waste). Watch our Law Read More

Where your Profit is, and how you can be profitable tomorrow . . . and forever

In Profit First you take a percentage of dollars off the top of all revenue that comes in. Before you do anything else, before you pay for anything in the business, you take your profit, first . . . and the business must live on what’s left. A question that we’ve found a lot of business owners asking is, Where is the profit? What they’re really saying is, sure taking a percent in dollars off the top of every Read More

Introducing . . . Profit First Fridays!

In this 12-week series, we share the changes, big and small, that you can make in your business to 1) increase and stabilize your profits, 2) see and manage your cash flow more proactively, and 3) slay the cash eating monster that stalks owners of small businesses. First off … let’s talk about “profit.”  Lately, that word has become charged within the business community. How you see profit, and how you Read More