 Introduction
Lean thinking is increasingly being applied beyond the operations in many companies, there sometimes does seem to be some problems implementing to the sales and marketing teams. My guess is that there is a reluctance of sales managers to view what they do as ‘processes’, they are in the business of relationships. Lean is more for the operations end of the business. But when you think about it, the whole idea of providing value to the customer should be of the utmost concern to the sales and marketing team. Have a great business week.
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 Introduction
The old saying that cash is king' is never more accurate than when dealing with a startup. When you first start a new business, it can feel overwhelming as you are surrounded by a multitude of things to do which includes all the back end operations, sales, marketing … you know what I am talking about here. Many times Cash flow takes a back seat .. which can be the biggest mistake and one of the causes of small business startup failures. Cash Flow or what is commonly referred to as Working Capital is the heart of any business,” “Without it a business cannot survive. As a startup, understand that a cash flow statement is a mandatory statement that records cash and cash equivalents that are coming in and leaving the company. The key function of the CFS is to let investors and lenders take a look at how your company's finances are being managed and where your cash is coming from.  Introduction
As a startup in the dream phase, your business is as strong as its foundation. Record Keeping is one of the most important aspects of that foundation. Using a series of monthly, quarterly and annual reports can allow you to create a dashboard that will guide your business through whatever the world has to offer. My guest today is Wayne Coughenour, of My Tax Pilot. Contact Wayne and his team by phone 804-740-6742, or via his website: https://www.mytaxpilot.com. Have a great business week.  Introduction
Hope everyone is looking forward to a great week. We have a few announcements to make about growth of the IBGR Network. First, we are doubling the number of new and returning visitors to the site. July was twice June’s numbers and we beat July’s numbers over the weekend. Second, with the addition of Gambia on Sunday, IBGR is now heard by entrepreneurs in 100 countries. That is 51% of all the countries on the planet. Third, we have declared war on Covid19. That is not on the disease itself, just a worse variant of the flu. Our declaration is aimed at those politicians and bureaucrats that are making arbitrary, non-science based decisions on economic activity. People with no skin in the game, collecting checks from our taxes are deciding which business lives or dies. If you do your own research, a stark reality will become apparent - what is happening in your country is not based on science - it is based on power and control.  Show Objectives - The Why
Every once in a while the answer is simple and obvious. When your company reaches Stage IV is one of those times. This growth stage is exciting and dangerous - you are finally achieving the company's potential but at the potential of out stripping it's ability to afford it.  Show Objectives - The Why
This is hard to do over the air waves, but not as difficult as it sounds. Unless you don't have any accounting software or external help - bookkeeper, accountant, CPA, etc., the reports are easy to produce. The only thing we "should" produce is the Cash Flow Forecast. Once you do it the reason is obvious - you gain a level of intimacy with the numbers that cannot be obtained any other way. |
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