Terry's Articles & Media

Evaluating Equipment Purchases – More to it Than Tax Advantages

A banker friend recently commented, “I hate it when accountants advise my customers to purchase equipment based solely on tax advantages. They feel compelled to purchase or lease equipment they don’t need or can’t afford just to save a few tax dollars.” Her point is well taken. While the tax impact is a consideration in…

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What’s Your Number?

In a previous article, I discussed developing Key Performance Indicators (KPI’s) to measure crucial elements of your company’s operations (Click here to read the full article). Reporting KPI’s on a weekly or even daily basis provide a more timely measurement of performance than monthly financial statements. However, they are still a historical depiction of what…

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Breaking Through Business Growth Barriers

There’s an old saying in business that if you are not growing, you’re dying. Some businesses grow to a certain level and stop growing further. The owner may get comfortable at a certain volume and call it good. He or she may believe that they have a good customer base and are making good money,…

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Finding the Exit: A Roadmap for Transitioning Business Ownership

All business owners will exit their business someday. They may leave horizontally or vertically, but it is another sure thing in life. In his book, Finish Big: How Great Entrepreneurs Exit Their Companies on Top, Bo Burlingham writes, “Every journey has a beginning, middle and end. When you are have successfully built your business, that’s…

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Achieving Goal Clarity

On May 25, 1961, President Kennedy delivered a speech to Congress stating, “I believe that this nation should commit itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to the Earth.” This speech came less than 3 weeks after Alan Shepard became the…

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Are Past Due Balances Putting Your Cash Flow at Risk?

Cash is the lifeblood of every business. Maintaining healthy cash flow is key in providing sufficient working capital to fund operations. One potential cash flow trap is accounts receivable. If you have a business that sells to wholesale customers, you typically have to offer them payment terms. Collection from these customers can be a challenge.…

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Using Key Performance Indicators to Measure Business Performance

Many business people rely solely on monthly financial statements to evaluate the performance of their business. However, monthly financial statements only provide a high level view of how the business is performing and are not typically timely enough to correct issues as they are occurring. Management should examine the operations of their business and define…

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Maximizing the Cash Generated by Your Business

Most articles published about maximizing cash in a business focus on managing the balance sheet (i.e. collecting accounts receivable, reducing inventory levels, extended payment terms, etc.). While managing these accounts is important, it does not reflect how cash is generated in the business. There are three sources of cash in any business: from lenders, from…

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Top Ten Ways to Increase Business Value

There are many ways to measure performance of a business including gross profit, net income, cash flow and key performance indicators to name a few. However, one measure that should be included is business value which is a measure of the what a business would sell for in the open market. While many factors of…

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Making Cash Flow Statements an Effective Management Tool

Cash flow is the lifeblood of every business. However, most business owners do not regularly measure their cash flow other than to determine whether their cash balance is increasing or decreasing. Cash flow statements are intended to provide cash flow data, but most do not provide enough information and the format is not very user…

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