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Prepare for Profits – 2025, Part 2. 8 Ways to Fight the Profit Pinch

December 30, 2024

By Barbara Nuss, CPA
Founder, Profit Soup

In our recent blog, Prepare for Profits – 2025, Part 1: Your Cost Structure May Never Be the Same, I shared my thoughts about how policy and economic changes might impact cost structures in 2025. I stressed the importance of monitoring your 5-Line P&L. This “Part 2” continuation lists 8 things you should do today to help fight the profit pinch in 2025.

1. Accelerate Equipment Purchases

If you have the financial capacity to act early on purchases you would make in 2025 anyway, you might consider stepping up now.

2. Forecast Your Cash Flow

Talk to your accountant about forecasting cash flow under multiple scenarios so you can plan to have adequate cash reserves or credit lines, Establish a cadence for comparing actual results to budgets by the 15th of each month.

Prepare for Profits – 2025, Part 1 Your Cost Structure May Never Be the Same

December 23, 2024

By Barbara Nuss, CPA
Founder, Profit Soup

Many entrepreneurs recall being caught off-guard when pandemic-inspired business interruptions, labor challenges and supply chain disfunction wreaked havoc with cost structures. How could you see that coming? Nobody could. Not the case today. Astute planners contemplating their goals and budgets for 2025 are already factoring in how pending National policies could impact their cost structure.

What Does Your Crystal Ball Say?

A few key uncertainties have me wishing for a crystal ball. One that could see through the post-election politicizing of important topics. I’d know how to predict the cost impacts of changing labor policies, possible tariffs, housing supply and demand, and deportations and immigration’s effect on labor supply. Unfortunately, I do not have such a crystal ball, so I will do the next best thing; guess, and hedge my bets by paying attention and staying nimble.

From Empty Beehive to Thriving Family Business: A Success Story

December 16, 2024

In the heart of rural entrepreneurship, Susan and Glenn Scott’s journey with Honey in the Hollow Bee Farm exemplifies the power of passion, perseverance, and strategic business support. What began as a simple gift of an empty beehive would soon blossom into a flourishing family enterprise that demonstrates the transformative potential of small business growth.

A Humble Beginning

Glenn Scott, an auto technician, and Sue, deeply committed to homeschooling, shared a dream of owning their own business. The unexpected gift of an empty beehive became their catalyst for entrepreneurship. Initially, they operated from home, with bees buzzing in their backyard, selling their honey products directly to local customers.

Blooming Success: How the SBDC Helped Taylor Flower Patch Grow

December 10, 2024

At Taylor Flower Patch, our story is one of passion, perseverance, and the power of community support. I’m Jenny Campbell, co-owner of this beautiful flower farm nestled in the heart of Taylor, Mississippi, just south of Oxford. Today, I want to share how the Small Business Development Center (SBDC) transformed our dream into a thriving reality.

From Hobby to Business

Gardening has always been more than just a hobby for me—it’s a way to connect with the earth and bring joy to others. When my husband and I purchased our property, we knew we wanted to create something special. With encouragement from my husband and sister, I began to see the potential of turning my love for flowers into a sustainable business.

From PTSD to Prosperity: How Beekeeping Transformed this Disabled Combat Veteran’s Life

November 27, 2024

When Staff Sergeant Eric Grandon, a 20-year U.S. Army veteran, returned home from multiple combat deployments, he was struggling with the debilitating effects of PTSD. Rather than let the stressors of war consume him, Grandon found solace and purpose in an unexpected place – the gentle hum of honeybees.

In 2014, Grandon founded Sugar Bottom Farm in the small town of Ovapa, West Virginia, starting with just two beehives. Along with his wife Mary and daughter Abigail, Grandon dove headfirst into the world of beekeeping, determined to use this newfound passion as a way to manage his PTSD.

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