Finance & Succession Planning

Identifying The Gap

Many business owners think they have an accurate idea about the value of their business. Owners may be surprised to find that “the gap” between the current value of their …

Originally published Published: 11.01.21 Author By Keven Prather

Rethink Cash Flow

As much as we don’t want to admit it, cash flow is the lifeblood of a company.

Originally published Published: 07.02.21 Author By Keven Prather

7 Places to Look if Your Gross Margins are not Consistent

A consistent gross margin means that your profit and loss (P&L) statement is probably accurate (unless you discover overhead mistakes).

Originally published Published: 06.07.21 Author By Ruth King

How Much Cash is Enough Cash?

Save the amount of cash that is comfortable for you. Get in the habit of putting money in savings accounts.

Originally published Published: 05.11.21 Author By Ruth King

Cash, Profits or Profitability — Which is Most Important?

Continuous profits, turned into continuous cash, give your company the best chance for survival and building wealth.

Originally published Published: 04.01.21 Author By Ruth King

Wealth Rule No. 10: Have an Increasing Current Ratio

Your company’s current ratio should be monitored monthly. It should always be greater than one. It should be constant or trending upward.

Originally published Published: 03.08.21 Author By Ruth King

Wealth Rule No. 9: Have a Sound Debt Policy

A good debt policy looks at your receivable days and your debt percentages.

Originally published Published: 02.09.21 Author By Ruth King

Wealth Rule No. 8: Have a Sound Inventory Policy

Inventory tracking is key to a sound cash policy. You don’t want to spend cash you don’t need to spend.

Originally published Published: 01.08.21 Author By Ruth King

Wealth Rule No. 7: Have a Sound Collection Policy

Sales count. Profits count. But they’re worthless if you don’t collect the money those sales and profits generated.

Originally published Published: 12.09.20 Author By Ruth King

Wealth Rule No. 6: Save Cash

Every bank deposit should have one percent of the deposit amount transferred to a savings account.

Originally published Published: 11.06.20 Author By Ruth King

When You Love Your Business, But Hate Numbers

To be successful as a business leader, you have to have a grasp of the basics.

Originally published Published: 11.06.20 Author By Shane Rau

Wealth Rule No. 5: Monitor Your Cash

Cash is the lifeblood of your company. You should watch it every day.

Originally published Published: 10.08.20 Author By Ruth King

Wealth Rule No. 4: Build a Great Culture

If your company has a great reputation, then people will want to work there and want to stay there.

Originally published Published: 09.01.20 Author By Ruth King

Beware the PPP Loan!

Make sure you understand the impact of Paycheck Protection Program loans.

Originally published Published: 08.10.20 Author By Ruth King

Monitor Profitability and Cash

You need to create your updated P&L to show at least a few dollars of profit at the end of the year.

Originally published Published: 07.09.20 Author By Ruth King

The Wealth-Building Potential of a Powerful Personal Brand

Self-made billionaires almost universally have well-established and powerful personal brands that they use opportunistically to generate even greater success.

Originally published Published: 06.08.20 Author By Keven Prather

Learn 5 Ways to Generate Cash Now by Ruth King

Many people are home, and want to get their systems ready for summer now.

Originally published Published: 05.01.20 Author By Ruth King

Learn how to safeguard your wealth with these tips.

Exploiters are professionals who recommend aggressive variations of financial solutions and strategies.

Originally published Published: 05.01.20 Author By Keven Prather

Profit Law No. 3 - Build your maintenance program here.

A maintenance program can help your company in the long haul. Learn more in this valuable article from HVACR Business Magazine.

Originally published Published: 04.01.20 Author By Ruth King

With Success Comes Enemies

With success come enemies, so get comfortable with others resenting you or viewing you negatively.

Originally published Published: 04.01.20 Author By Keven Prather

Ruth King -Separate Business Expenses from Personal Expenses

You can enjoy the fruits of your labor. Just don’t do it to the detriment of your company.

Originally published Published: 03.01.20 Author By Ruth King

Wills and Trusts: The Foundations of Your Rock-Solid Estate Plan-HVACR

As with any decision, there are both positives and negatives to a will. The benefits of writing a will far outweigh the drawbacks.

Originally published Published: 03.01.20 Author By Keven Prather

Tips from Ruth King - Wealth Rule 1: Pay Attention to Your Balance Sheet

The total balance on the accounts receivable and accounts payable aging reports should match the values printed on the balance sheet.

Originally published Published: 02.01.20 Author By Ruth King

Educate Inheritors About Wealth Planning & Managing Financial Assets

The heads of many of the wealthiest families are concerned about their heirs’ ability to smartly deal with the money and business assets they will one day inherit. This is …

Originally published Published: 02.01.20 Author By Keven Prather

Two Steps to Help You Grow and Build Wealth

Accurate books mean better decisions about your business future.

Originally published Published: 01.01.20 Author By Ruth King

To Eliminate Estate and Gift Taxes, Feel the Freeze!

Using a trust to freeze the value of your company can help you pass on sizable sums to your heirs — free of estate taxes.

Originally published Published: 01.01.20 Author By Keven Prather

Avoid the Pitfalls of Short Term Working Capital

It’s vital to know your options and plan for the future to obtain financing that will not constrict the cash flow of your business.

Originally published Published: 11.01.19 Author By Brandon G. Jacob

Recurring Revenue is Your Rocket Fuel

Whether residential or commercially focused, all companies need a thriving maintenance program.

Originally published Published: 11.01.19 Author By Ruth King

You Can’t Take a Percentage to the Bank

What matters is the bottom line dollars or that the gross margins are consistent.

Originally published Published: 10.01.19 Author By Ruth King

Inventory is a Bet

Profitable contractors do two things extremely well: Manage labor and manage inventory.

Originally published Published: 09.01.19 Author By Ruth King

Review Timely, Accurate Financial Statements Each Month

Once owners are in the habit of receiving financial statements and asking good questions about them, they get more accurate.

Originally published Published: 08.01.19 Author By Ruth King

How to Tell if Your Financial Statements are Wrong

Accurate financial statements are critical to ensure that the business is profitable or to give owners the information they need to take steps to make it profitable.

Originally published Published: 07.01.19 Author By Ruth King

Profits and Cash are Not the Same

Collect for profitable work quickly, pay the bills associated with that job and stay solvent.

Originally published Published: 06.01.19 Author By Ruth King