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Time is our most precious personal resource. Once we spend it, we’ll never get it back.

As busy entrepreneurs, we seem to have less time than anyone else, so it just makes sense to look for opportunities to use our time more wisely.

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Creating a successful business is about providing needed products and services and developing a culture that supports these efforts. It’s exciting, frustrating, busy, and some of the most rewarding work you can do.

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Starting a business always sounds fun when you’re casually chatting with friends and family over drinks. You’re brainstorming and writing ideas down on napkins. There’s energy and excitement in the air.

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Don’t be fooled—even profitable businesses can encounter cash flow issues. According to a U.S. Bank study, 82 percent of small business failures are the result of poor cash flow.

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The 2021 holiday sales season will give businesses a chance to continue their online migration, as well as opportunities for more refinement and improvements. The key is to bring as many products online as possible and integrate all customer touch points into an omnichannel of positive experiences.

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There are five key reports that will help you run your business more efficiently and make smarter decisions. From these reports, you should be able to answer some key questions about your financial state.

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If you grant credit to customers or take recurring credit card payments, the unexpected can happen—a customer fails to pay on time, their credit card expires, or the check bounces.

How can a business owner spend as little time as possible on these items, but get the cash collected? Here are a few ideas:

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If you’re a business owner continually searching for ways to increase your profitability, you’ll want to learn about direct and indirect costs. Breaking out your expenses into direct and indirect categories can help you arrive at the most profitable volume of sales for your business.

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While we all have to keep our monthly books up to date for tax and other compliance reporting purposes, we should never stop there. Your books hold a wealth of information you can use to run your business better.

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Working closely with clients, especially in a highly sensitive area, such as legal or financial matters, you get to know clients on a personal level. If you’re lucky, you really like your clients.