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If I Made That Much Profit, Where Is All the Cash?

November 7, 2023

By Barbara Nuss, CPA, Profit Soup

The Statement of Cash Flow Has the Answer

Any seasoned business owner or advisor has seen it happen. The business showed a handsome profit at the end of the year and mysteriously the cash balance plummeted. The first question the owners, accountants and lenders ask is, “where is all the cash?” The Statement of Cash Flow is an underutilized report that answers that vexing question.

Profit and Cash Are Not the Same Thing

Before we get to the report, let’s start with the premise that profits and cash are not the same thing. Here is an example:

In Search of a Bigger, Better Barcode

October 19, 2023

By Kaitlin Friedmann, Marketing Director, Small Business Growth, GS1 US

Entrepreneurs in the retail industry are likely aware of the increased demand from consumers to know more about the products they buy. Often, the package can’t hold all the information they seek, such as product origin stories, certificates to back up sustainability claims, and more. Throughout the product life cycle, there may also be information that needs to be communicated to the end customer, such as recalls, updates, and disposal recommendations.

The retail industry is on the verge of a major change in packaging to respond to this increased demand for more information. Brands and retailers are beginning to transition UPC barcodes, a 50-year old technology, to more data-rich, robust two-dimensional barcodes (i.e. a QR code).

Take The Quiz! 3 Questions To Identify The Essential Business Insurance Coverages For Your Small Small Business

August 28, 2023

By Gild Insurance

Introduction

Starting and running a small business comes with its own set of challenges and risks. While you focus on growing your business, it’s crucial to safeguard it against unforeseen events that could potentially disrupt your operations. This blog post will walk you through the essential types of business insurance your small business should consider and provide a quick quiz to help you make informed decisions on how to protect your business’ future.

Driving Quality Counseling with Hybrid Learning: 10 Tips for Gaining Traction from Training

August 22, 2023

By Barbara Nuss, CPA, Profit Soup

Nothing surpasses the warm feeling business trainers and counselors get from witnessing the “lightbulb moments” new skills and knowledge can bring, followed by real positive changes in individuals’ lives and their businesses. With financial resources scarce, and funding for training in decline, how can you leverage your time and reach more clients in a scalable, efficient way? Enter online learning.

Many were forced into the online universe due to the restrictions on in-person interactions. Others had embraced it far earlier. Today many SBDC Centers use online platforms to deliver training and counseling. As a nation, we are not going back anytime soon: more than half of American adults who expect to need more education or training now say they would do it online. Still, we question whether we make the same impact when we lack face-to-face engagement.

5 Small Business Management Tips for the Busy Summer Season

July 27, 2023

Sunglasses on, toes in the sand — it must be summertime! While the hot weather sounds like a vacation for most, some business owners are feeling a bit salty about it. In fact, in a recent survey of entrepreneurs whose peak seasons are in the summer months, the biggest reported obstacle was standing out in a crowded summer market. If you’re worried customers would have more luck finding a lost grain of sand on the beach than finding your business, read on for our best summer small business management tips.

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