Author

Ruth King

Why People Steal

In the 36 years I have been consulting with and coaching small business owners, one of the most difficult things I’ve ever had to do was tell two partners that a third partner was stealing at least $50,000 a year… Continue Reading →

2018 Financial Budget -Keep the Grinch Away!

To keep the Grinch away in 2018 – Put your budget in writing – or at least in an Excel spread sheet. Before you begin, here are some questions to ask: 1. Are you getting your monthly financial statements in… Continue Reading →

I’m the Grinch Who Stole Christmas – Part 3a – Who are Your Customers – Really?

I’m the Grinch that Stole Christmas – Part 3a Who are Your Customers – Really? I’m being the Grinch – reminding you that there will be no Christmas if you don’t plan and don’t track. And, if you don’t plan… Continue Reading →

I’m the Grinch that Stole Christmas – Part 2

Suggested Goals for 2018 I’m being the Grinch – reminding you that there will be no Christmas if you don’t plan and don’t track. And, if you don’t plan and don’t track, you can’t complain about what happens to your… Continue Reading →

I’m the Grinch that Stole Christmas

I’m the Grinch that Stole Christmas Traditionally at this time of year I write about planning – and how simple it can be. So, I’m being the Grinch – reminding you that there will be no Christmas if you don’t… Continue Reading →

Can You Generate $14,352 to pay for one overtime hour every week?

Or, looking at it another way, is paying one hour of overtime per week worth $4,784? Overtime is expensive. Here’s what it really costs. If you pay an employee $16 per hour, then one hour of overtime is $24 per… Continue Reading →

Beware: Who Has Check Signing Authority on your Business Checking Account?

Most business owners don’t think twice about letting a spouse or even a trusted employee have check signing authority on the business bank accounts. A sad, but true story: Three siblings own and operate a company. Each sibling has his/her… Continue Reading →

Why You Should NEVER Give Out Bonus Checks

To listen to my interview with Kevin Price about this subject: https://soundcloud.com/user-759550640/11-8-17-ruth-king One of your company perks should be a bonus based on company profitability. This bonus is given every year in February, and never at the Christmas holidays. You… Continue Reading →

5 Cash Flow Mistakes that Can Kill Your Business

These five cash flow mistakes can kill your business. Don’t make them! 1. Thinking you can lose money on a product and make it up on selling your other products and services. If you have 1,000 “give aways” and you… Continue Reading →

Do You Have Enough Cash to Grow?

Historically, the fastest growing companies can grow themselves out of business fast. Why? They run out of cash. Their sales are increasing rapidly and their cash is decreasing at a greater rate. In other words, their sales are outgrowing their… Continue Reading →

How to tell if your financial statements are wrong in less than 97 seconds

As owners and managers, your responsibility is to review accurate financial statements on a timely basis. This allows you to make good business decisions and spot minor issues before they become major crises. Here are six, easy-to-spot things to look… Continue Reading →

How Dog Food Tells You IF Your Advertising is Working

This weekend I was watching one of my recorded sessions of Chopped (yes, I am a food junkie) and an ad for Hill’s Science Diet came on. Most of the time I fast forward through the ads. However, this one… Continue Reading →

Are You Tired and Grumpy? The Quick, Easy Way to become Enthused Again

This summer was really hot in many areas of the country. And, the hurricanes disrupted many lives in the southeast and Gulf Coast. You might have become grumpy – you’re not having fun anymore. One of the air conditioning installation… Continue Reading →

Three Easy Ways to Increase Productivity

In honor of Labor Day, let’s look at three easy actions to increase labor productivity. First, why is productive labor important? The more productive your employees, usually the more profit you earn. The more productive your employees, usually the more… Continue Reading →

Do You Have the Mercedes Benz Syndrome?

A colleague was helping a business owner look for funding for his business. He introduced him to a potential investor at lunch. The next day the investor called my colleague and told him that the person was nice but he… Continue Reading →

My CPA Should Have Told Me That!

I recently had breakfast with a colleague. We had a conversation about her accounting software and some of the problems she was having with it. I asked her a few questions and she didn’t know the answers. Her feelings were… Continue Reading →

How You Can be Profitable and Still Go Broke

Profits are not cash. When you look at the bottom line on your Profit and Loss statement, the dollar amount at the end of each month’s statement is NOT the amount of cash you have in the bank. Profits are… Continue Reading →

Can you Afford this $250,000 Fine for Being Nice?

For years a contractor let their employees come in to the office, drink coffee, and “shoot the breeze” before work began. A disgruntled employee left the company and went to the Department of Labor to see how he could “get… Continue Reading →

Three Keys to Business Freedom

In honor of Canada’s 150th Birthday on July 1st and the Fourth of July Independence Day in the United States, here are the three keys to business freedom. First, my definition of business freedom: you have a smooth running, profitable,… Continue Reading →

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