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June, 2016

Is Cash Flow Your Biggest Challenge?

A recent Federal Reserve Report (March 2016) on Small Business Credit caught my eye. The period covered by the report was between Q3 2014 and Q3 2015 and was referred to as 2015. The reason this report caught my attention is that it listed cash flow as the single biggest challenge identified by small business owners.

Even though financing success improved during 2015, half of the firms reported financing shortfalls. The report defined a shortfall where a firm was approved for less than the amount requested. Micro businesses and startups reported an even higher (63% and 58% respectively) unmet financing need.
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Why is this important?
The financial viability of small businesses affects employment and growth of local and regional economies. The financial health of small businesses is a key indicator of the strength of local economies which ultimately . . . . read more.
Regards,
Mike Brice
Phone: (206)226-1617
Email
Blog


Feature Article

This article discusses traits and habits that help business owners succeed and build highly successful companies.

Top 10 traits and habits:

  1. They dream big.
  2. They spot opportunities.
  3. They know how to execute.
  4. They take small steps.
  5. They ask for help.
  6. They're nimble.
  7. They're confident.
  8. They're not afraid to fail.
  9. They build strong teams.
  10. They delegate.
What traits and habits are part of your leadership practice?

Click here to read more about each habit and trait.


Note: Ask yourself the following questions.
  • Do you limit the potential of your business by avoiding any (or many) of the habits and traits above?
  • Do you intentionally incorporate one or more of the 10 above in running your business?
  • Which of the 10 habits and traits do you struggle applying on a regular basis?

If you are looking for an executive coach to develop winning habits and traits contact Mike to learn about the Executive and Business Coaching services available from Brice Consulting for you and your organization.

Leadership Resources

Video(s)
Cash Flow Statement: Business cash flow management has to done at 2 levels: the Operational or Working IN the business level, and the Strategic or Working ON the business level.
Basic cash flow statement (4:04 min)

Managing Cash Flow: The Cash Flow Statement is a crucial part of your accounts. You can only get a complete view of your business by looking at 3-way accounts: Profit & Loss, Cash Flow Statement and Balance Sheet.
How To Manage Your Business Cash Flow Effectively And Efficiently (3:19 min)

Articles:
Leadership Wisdom: Wisdom guides our thinking, attitude and overall mindset. It pushes us to break through boundaries, and to see beyond the obvious. It directs our personal reinvention and how our leadership influences everything and everyone we come into contact with each day.
5 Ways Great Leaders Cultivate Wisdom In The Workplace


Mentor: Want to make a difference in someone’s life? Become a mentor.
Mentors Matter: One Person At A Time

Management: According to a new survey, the main challenge involves finding the right "balance." More specifically, finding the balance between individual responsibilities and time spent managing others.
The Hardest Thing For New Managers


Productivity: Small steps will take you far, but also get ready to make some bigger leaps to finish the project.
10 Easy Ways to Make Sure You Finish the Things You Start


Sales: Here is a formula for success that outlines the questions sellers can ask potential customers to determine if an opportunity if real or not.
What People Really Mean When They Say: 'I Don't Know'


CRM: Every once in a while, a bad customer service story goes viral, forcing CRM professionals to take a closer look at how they support customers.
Are You Correctly Measuring Customer Satisfaction?

IT Strategy: Given the rapid rate of innovation in the software field, the costs of obsolete systems are usually much higher than most people realize. The only way to know for sure is to estimate that cost.
What not upgrading enterprise software could cost you


Product Management: The role of product manager is an increasingly popular career choice for individuals from a variety of business and technical backgrounds..
Understanding the Role of Product Manager


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