Why I Finally Stopped Fighting AI (And You Should Too)
For years, I wore my firm’s manual processes like a badge of honor. “We do things the old-fashioned way,” I’d tell clients. “Personal touch. Human expertise. No shortcuts.”
Cash Flow
10 Actionable Cash Flow Strategies Every Small Business CEO Should Implement
Nearly every business leader has experienced a cash flow problem at some point. Whether it was an isolated incident or a systemic issue, it’s undeniably stressful. The good news? You can learn to increase cash flow in your business and avoid these challenges altogether. All it takes is foresight, creativity, and a dash of financial wizardry.
Why You’re Not Getting Paid On Time and What to Do About It
As an owner-operator of a small service firm, whether it’s a consultancy, marketing agency, IT service provider, or any other service-oriented business, you’ve likely faced the frustrating challenge of chasing down late payments. It’s a widespread issue that disproportionately affects small service firms, and it can significantly hinder your cash flow and business growth. In this blog post, we’ll explore why this happens, how to diagnose and measure the extent of your collections problem, and offer both proactive and reactive strategies to improve your payment timelines. Plus, we’ll show you how joining a mastermind community like Collective 54 can make a difference.
From Cash-Strapped to Cash-Flow Positive: The Transformation of an IT Consulting Firm Owner
Once upon a time, in the competitive landscape of boutique professional service firms, there was an owner of an IT consulting firm who became a cautionary tale of rapid growth without the backbone of sound financial management. This is the story of Alex, whose journey from the brink of financial ruin to a model of fiscal responsibility embodies the adage, “Growth is not just about numbers; it’s about sustainable strategies.”
Navigating the Complexity of the Net Working Capital
In the world of mergers and acquisitions (M&A), there are multiple terms and process dynamics that come into play over the course of a transaction. One term that often stands out from the rest due to its complexity is net working capital.
Understanding the Transition: From Non-Recurring to Recurring Revenue Models in Boutique Professional Service Firms
For founders of boutique professional service firms, the shift from a non-recurring revenue model to a recurring revenue model is often a strategic move towards long-term stability and growth. However, this transition can be challenging, especially in terms of cash flow management. This article aims to guide you through this complex yet rewarding journey.
Episode 56: Cash Flow: Where to Find Working Capital to Scale – Member Case with William Lieberman
C54 member William Lieberman, Managing Partner of The CEO’s Right Hand, shares insights on cash flow and where to find working capital to scale your professional services firm.