Turning Assets into Cash
Your largest current assets, against which you might borrow, are probably receivables and inventory. Ideally, both of these assets turn into cash as soon ... Read story
Goldhirsh Group Inc.
Action Plan: Using Economic Forecasts
Track the economy so you can prepare for your business's future. Read story
Debt Management and Banking: Establish a Contingency Plan
Show your creditors that you can handle a cash crunch with a plan for managing crises. Read story
Establishing Credit Limits
There is no precise method of allocating credit. However, a simple policy that works well is to allocate customers to one of the four categories of credit... Read story
Collection Techniques to Avoid
Past-due accounts present a number of problems, one of which is how to collect them. When faced with this uncomfortable issue, avoid using these collectio... Read story
Action Plan: Debt Management and Banking
Debt management and cash flow management are inseparable. A poorly managed cash flow will eventually surface as a depletion of working capital. If working... Read story
Action Plan: Forecasting and Cash-Flow Budgeting
Your cash flow budget is the most important financial statement that you have. Done correctly, it provides your business with the necessary checks, balanc... Read story
Filling In Your Plan: What to Say Where
Here is a brief overview of the contents of the written plan. Keep in mind that after the first two items, the titles of thesubsequent sections can vary. ... Read story
Choosing Accounting Software
Here's what you need to consider when choosing accounting software: Auditing features. These might include a map mode, an... Read story
The Finer Points of a Business Plan
Here is a brief overview of the contents of the written plan. Keep in mind that after the first two items, the titles of the subsequent sections can vary.... Read story
Turning a Great Idea into a Practical Business
You have a terrific idea for a new business. But before rushing ahead to implement it, consider the following: Have you seen the idea... Read story
All Summary, No Substance
The executive summary below is actually an altered and disguised version of a real executive summary. But it remains as badly done in this state as it was... Read story
Key Questions to Ask a Prospective CPA
The worst way to find a CPA is to "call one up and hire him" sight unseen, believes Irving L. Blackman, a frequently published CPA and senior partner in B... Read story
A Plan for All Seasons
In Chapter 1 of the book How to Really Create a Successful Business Plan, author David E. Gumpert suggests that a carefully crafted business plan... Read story
Get More Out of Your Cash
The more you can squeeze out of your cash, the better off you are. That is true, but only to a point. Your efforts to get more out of your cash must be ba... Read story
Putting Your Business Idea to the Test
When entrepreneurs ask me about the potential of an idea for a new business, I invariably ask some probing questions. I am trying to determine the followi... Read story
Protecting Your Intellectual Property the Affordable Way
The matter of legally protecting your intellectual property can get quite complex -- and expensive. You likely don't want to spend endless hours sorting t... Read story
Planning for Chaos in a Start-Up
No matter how hard you try to prepare, unexpected problems will erupt in your new start-up. In this excerpt from How to Really Start Your Own Business... Read story
Where to Start for Business Plan Smarts
Anatomy of a Business Plan, 4th edition, by Linda Pinson and Jerry Jinnett (Dearborn, 1999) The first edition of Linda Pinson and Jerry J... Read story
Keeping a Start-Up Simple
Once you're ready to launch, how can you make sure you start out on the right foot? In this excerpt from How to Really Start Your Own Business, e... Read story
Venture Capitalists Don't Relish Risk
Probably the key fact for entrepreneurs to remember about venture capital firms is that their names are misleading. Though the term venture capitalRead story
The Basics of Business Plans: Sell, Sell, Sell
You've probably heard all the academic and formal definitions of a business plan--something to the effect that it's a document describing your company's g... Read story
Executive Summary as a Guiding Light
A good executive summary is hard to write. It should present your entire business plan in miniature. Read story
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