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Should I Fire My Customer?

Your salesman lands a big account with a well-known retailer and you’re ecstatic. It’s what you’ve dreamed about for so long. You rework your sales forecast and you can’t believe what the final projected top line number. But, then you get to the end of the year and wh...

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What American Idol can Teach Us About Counting Chickens?

 A few weeks ago, Core Entertainment, which owns the rights to American Idol, filed for Chapter 11 bankruptcy. The reasons cited included loss of its primary and irreplaceable revenue stream, lack of Idol related sales in recent years and an inability to pay creditors...

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The Five Financial Concepts Every Owner Should Know

1) The P&L (income statement) and Balance Sheet

Every business owner should understand the basic types of accounts on both the P&L (also called an income statement) and balance sheet and what each represents. The P&L is...

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