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Question # 20 - I'm running out of cash and there is still month left. Help!

Diana Miret

Mar 21, 20221 min read

Question # 20 - I'm running out of cash and there is still month left. Help!

Have a good billing strategy. Every business owner has a client that is consistently late on its invoices and payments. Managing small...

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Question #19: My business needs money. Now what?

Diana Miret

Mar 14, 20222 min read

Question #19: My business needs money. Now what?

Answer: There are only three types of financing available to a small business owner: debt financing, equity financing, or a combination...

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Question # 18: Should I do administrative activities myself to save money?

Diana Miret

Mar 7, 20221 min read

Question # 18: Should I do administrative activities myself to save money?

Short answer: NO. Struggling business owners will spend time to save money, whereas successful business owners will spend money to save...

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Question # 17: How much should I pay myself?

Diana Miret

Feb 21, 20222 min read

Question # 17: How much should I pay myself?

Let me begin with one clear point: you should pay yourself from day 1 of your business. Before you write me off as silly, let me say...

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Question # 16: How can I grow my business?

Diana Miret

Jan 30, 20222 min read

Question # 16: How can I grow my business?

I hear this question from clients a lot at the beginning of the year. Everyone wants to grow their business and find the fastest way to...

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Question # 15: What is "margin" and why should I care?

Diana Miret

Jan 24, 20221 min read

Question # 15: What is "margin" and why should I care?

Question # 15: What is "margin" and why should I care? 1. You’ll be able to pinpoint areas where your business is struggling By running...

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Question # 14: How can I DOUBLE my profit?

Diana Miret

Jan 17, 20221 min read

Question # 14: How can I DOUBLE my profit?

Did you know that if you Increase sales by 17%, you can double your profit? Yep. If increasing sales is one of your business’s goals for...

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Diana Miret

Jan 10, 20223 min read

Question # 13 - What is my break-even?

(this is a post from a respected writer - see below). Use This Formula to Calculate a Breakeven Point (for a product based business)...

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Question # 12: How can I increase my profit?

Diana Miret

Jan 3, 20221 min read

Question # 12: How can I increase my profit?

To get a 25% increase in your Net Profit you simply need to make a: ● 1% reduction in your fixed expenses ● 1% reduction from...

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A year-end question from your CFO: What financial habit do you have that is no longer serving you?

Diana Miret

Dec 27, 20213 min read

A year-end question from your CFO: What financial habit do you have that is no longer serving you?

At the end of a year, we tend to ask ourselves questions about the goals we wish to achieve in the coming year. I support spending a day...

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Question # 11: When should I hire my first employee?

Diana Miret

Dec 20, 20212 min read

Question # 11: When should I hire my first employee?

The answer is simple: when you have the time, money, role and onboarding process carefully detailed. It's simple, but not necessarily...

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Question # 10 – Is it wrong to charge personal expenses to the business?

Diana Miret

Dec 13, 20211 min read

Question # 10 – Is it wrong to charge personal expenses to the business?

Wrong? Sometimes. Ill advised. Yes. From our friends at the IRS: Question I'm a sole proprietor and pay personal expenses out of my...

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Question # 9: How can I have more cash flow?

Diana Miret

Dec 6, 20211 min read

Question # 9: How can I have more cash flow?

There is 1 key component to cash flow: money coming in must be greater than money going out. At all times - not just at the end of the...

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Question # 8 - How do I know if my services are profitable?

Diana Miret

Nov 29, 20211 min read

Question # 8 - How do I know if my services are profitable?

CFO Rule of Thumb: 80% of your profits should be coming from 20% of your services. Short and sweet. If you need help figuring out how...

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Question # 7: How much should I spend on growing my business?

Diana Miret

Nov 22, 20211 min read

Question # 7: How much should I spend on growing my business?

Rule of Thumb: Every dollar spent on growth must produce 5 dollars in revenue. It's called the 5X rule. Successful, growing businesses...

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Question # 6 - My biz is small. Do I need a separate bank account?

Diana Miret

Nov 15, 20212 min read

Question # 6 - My biz is small. Do I need a separate bank account?

Short answer: HELL YES! One of the most important things you can do as a small business owner is to separate your business from your...

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Question # 5 - What is my business worth? It's not on the Profit & Loss!

Diana Miret

Nov 8, 20214 min read

Question # 5 - What is my business worth? It's not on the Profit & Loss!

The Balance Sheet is the true scorekeeper of your business. Photo by Rachel Claire from Pexels One of the most dangerous health...

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Question # 4: Should I show a profit in the business?

Diana Miret

Nov 1, 20211 min read

Question # 4: Should I show a profit in the business?

You may assume that you "should" make a profit. But have you asked yourself why? Let me be clear: YOU MUST MAKE A PROFIT Because profit...

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Diana Miret

Oct 25, 20212 min read

Are you a Powerful Woman?

Women view power VERY differently than men. Men tend to associate power with what they can own and command. Women tend to associate...

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Question # 3: How much should I spend on getting a new customer?

Diana Miret

Oct 25, 20212 min read

Question # 3: How much should I spend on getting a new customer?

The value of a customer should be three times more than the cost of acquiring them. If we spend too much money chasing customers, it...

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