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Category Archives: Business Improvements

How to Save a Retail Store That’s Losing Money Every Month

By | Business By The Book, Business Improvements, Cash Flow Management, Increasing Profitability, Organization & Strategy | No Comments
Avoiding Business FailureQ: I launched a retail store about nine months ago, but I need immediate help. My business is losing several thousand dollars per month and I am not even drawing any salary for me or my family. My revenue has flattened out due to the economy and is around $40,000 per month, but my expenses are running around $46,000. I have an SBA loan payment of $6,600 per month and a building lease of $3,300 per month. I" />

Q: I launched a retail store about nine months ago, but I need immediate help. My business is losing several thousand dollars per month and I am not even drawing any salary for me or my family. My revenue has flattened out due to the economy and is around $40,000 per month, but my expenses are running around $46,000. I have an SBA loan payment of $6,600 per month and a building lease of $3,300 per month. I’m thinking about trying to refinance my SBA loan to get a lower payment. Any suggestions? A: The first thing I would suggest…

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The Perfect Brainstorm

By | Business, Business By The Book, Business Improvements, Leadership, Leadership | No Comments
Startup Stock Photos

  Poet Robert Frost once described the brain as something that “starts working the moment you get up in the morning and does not stop until you get into the office.” Okay, so you can jump start it again with a stiff cup of Folgers. The point is, much of what passes for work in the workplace requires—admit it—very little of your cerebral cortex. The mundane tasks that constitute the average workday are often far from intellectually stimulating—but that’s probably a good thing. A certain amount of routine helps us balance the stressful elements of operating a business. Too much…

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How to Improve the Profitability of a Conference

By | Accounting, Business By The Book, Business Improvements, Cash Flow Management, Finance, Financial Reporting, Increasing Profitability, Organization & Strategy | No Comments

Q: My family has planned and managed a Christian family conference each year now for several years, but we end up losing quite a bit of money on each conference. We really feel it is of the Lord and that the conference is a blessing to many families, but it has turned into a painful financial experience for us. Do you have any advice you could offer us? A: There are two ways to improve the situation: to increase revenue and/or reduce expenses with the goal of never spending more than you are bringing in. Here are some specific suggestions…

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