WHY KNOW YOUR BREAK-EVEN POINT?
Navigating the Break-Even Point for Entrepreneurs For entrepreneurs, the idea of aiming for a break-even point might raise eyebrows. Isn’t the goal to make a profit, rather than just breaking even? It might sound like a setback or even a hint of failure. However, understanding the break-even point is a game-changer for your business decisions. At […]
Six tips to better manage Cash flow
We meet so many businesses at ASE. One of their key worry … “running low on cash” Cash in the Bank (and/or availability of credit) is essential to keep the wheels of your business turning. Cash is needed to cover running costs (overheads, supplies, staff etc.) Then of course there is growth. So many get […]
CASH IS KING!
In most businesses, you should be evaluating profitability on a regular basis. This is an extremely important measure. However, equally important, and critical is evaluating cash flow! During a fiscal year, you would be looking at profitability weekly or monthly, but daily you should be looking at whether you are generating enough cash to keep all operations going. As an example, be […]
The Importance of A Pro Forma Evaluation
Using a Pro Forma Financial Statement Your financial statements provide a snapshot of your business’s finances and performance at a point in time; they provide information on profit, cost of goods sold (COGS), expenses and earnings before interest expenses and taxes (EBIT) . The foundation for planning the future course of your business starts with your financial […]
When To Prepare For Selling A Business
A Succession Plan Although hard to imagine, someday you’ll want to, or need to, sell your business; maybe lack of interest or energy, age or unexpected failing health. You should start thinking about a sale from the day you incorporate. Having a succession plan is critical for an organized, orderly, successful sale. It creates certainty and […]
Do I need a Business partner?
In our ASE Advisory meetings we often come across this comment from businesses we advice. “I need a partner”. Sometimes so frustrated is the client, that I believe they simply seek an accomplice they can blame. Other times the comment is valid. Work load excessive; Skill sets missing; such partners fill gaps in resources such […]
HIRING POST-PANDEMIC
HIRING POST-PANDEMIC In our July 2021 newsletter we addressed ‘when is the right time to hire’. As a follow up that this letter discusses the ability to determine the revised staffing needs and how to proceed after to the pandemic hiatus. Analysis The ultimate need for any additional staffing, remains a very specific consideration for […]
THE RIGHT TIME TO HIRE
THE RIGHT TIME TO HIRE Is your business so hectic that you can’t accept new orders or new clients? Or do you even have time to deliver what you’ve already promised? Should you expand the business but you just don’t have the time or energy? Do you just hate doing some parts of the business […]
Getting to success
GETTING TO SUCCESS Over the years we have written about all of the below in one way or another: the importance of using tools in getting to a successful business and knocking it out of the park! It doesn’t matter what business you are in, most, if not all of the following are best stepping […]
Salary versus Dividends
Salary versus Dividends: How should you pay yourself? We, at Associated Senior Executive, often have clients ask whether they should take their wages as a salary or dividends. As a business owner of an incorporated business, you can derive your income from either salary or dividends or from both. What are the differences between dividend […]