Don’t be one of the 80% of small businesses that fail due to cash flow problems. It’s the right time of the year to get a budget in place that can help you steer your company away from cashflow problems
After taking her morning coffee to her desk, Jessica sat down at her computer to look at her monthly financial statements. How could her business be losing money again? She had some great customers. On the other hand, she remembered
As a small business, data and analytics can have a major impact in your success. Check out this article to learn more: https://hbr.org/2017/06/how-to-integrate-data-and-analytics-into-every-part-of-your-organization
Don’t have the right tools and people in place? Let us help.
“It takes great strength to resist the dark side. Only the weak embrace it.” — Obi-Wan Kenobi
At CoEfficient, we not only love great Star Wars analogies, we also love data of all types, not just accounting data. Accounting data +
The principles of accounting have existed since the days of Mesopotamia. In fact, according to historian John Steele Gordan, humans likely began to write simply because they wanted to track their money. Those early primitive methods worked for several thousand
Cash management, cash forecasting, and burn rate calculations are frequent concerns for entrepreneurs. One metric we love at CoEfficient is Days-to-Zero. Put simply, if your cash receipts stopped tomorrow, how many days until your business ran out of cash? While
It’s a good time to be an MSP (Managed Service Provider / IT Service Provider). Our IT Services clients are doing well, top line and bottom line. Small companies have embraced outsourcing IT and are moving towards MSP. Technology has
Finance and accounting analysis can offer great insight to help you grow your business. That said, you need two “table stakes” in place before they are actually helpful:
You need solid data – managing by bad data is like navigating with
Would any MSP or IT Services firm ever set a fixed-price contract based on charging a client $40 – 50 / hour for all of their work? No way. That said, through our recent benchmarking study with MSPs from around
Should we continue selling a low-profit product line? Are we overspending on administrative expenses?
Businesses every day wrestle with these decisions.
But is ownership/management making a decision based on data and external insights? Or, are decisions based on intuition and feel vs.