Your “war chest” is the financial reserve your business has built up so you can take advantage of an opportunity or cover unexpected costs or emergencies. Building a cash reserve when finances are tight, however, can be difficult. You need…
Most small business owners face a time in their career when they have to communicate in ways or about topics they aren’t comfortable with. COVID-19 has put small business owners in the position of having many conversations that are uncomfortable…
As small business owners look to operations after COVID-19, there are some important business questions to ask. These questions will help you determine what adaptations you want to keep, whether your business model is working, and if there are additional…
The COVID-19 pandemic has proven challenging for many small business owners. It’s difficult to run your business remotely, especially if you’re not set up to do so. If you run a business that requires customers or clients to come to…
As many business owners look to life after COVID-19, an important question comes up: how do we plan to reopen our business? For most businesses, the easing of restrictions doesn’t mean a return to business as usual. There are rules…
We’ve heard this before: the COVID-19 pandemic is an unprecedented global health and financial crisis that has caught many off guard. While the threats to human life are very real, the damage to the health of businesses is really just…
When you own a small business, it’s vital you understand how money flows into and out of it. At a basic level, you need to know where your income comes from and what your expenses are. At a deeper level,…
Hopefully you have long – and short-term plans for your company and you may even have a strategy for your own development, but have you considered having a personal development plan (or individual development plan) for employees? An employee personal…
There are some things in life that go together well and others that definitely do not. Business and personal finances are in the category of items that should not be mixed. Although it may seem like a headache to keep…
At some point in the life of your business, you’ll likely need to borrow capital. That’s why it’s important to build and maintain a solid credit score now – so when the time comes to apply for financing you’ll be…