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Is Credit the Bluetooth or the Front Suspension of Your Business?
Two years ago, I bought a new car that replaced my 2004 Toyota Camry with over 530,000 miles (it was a good day at the Toyota plant)! It has all the latest technology that didn't exist when my Camry was built: Bluetooth, backup camera, blind spot warning and many...
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How Credit Insurance Coverage Decisions are Made
When considering a credit insurance policy, everyone needs to understand how coverage decisions are made by the insurance company. After all, approving coverage (protection) of your customer accounts is why companies use credit insurance in the first place. A coverage...
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Is the Labor Market Tight? How Companies are Coping
"There wouldn't be a seafood industry without foreign workers. There wouldn't be sugar either." according to "Jim" (not his real name), the owner of a large seafood and fish processing company. "Without the guest worker visa program, we wouldn't have anyone working in...
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Suppliers & Creditors Worry about Tesla: They’re Late to the Party
An auto industry association surveyed key suppliers to Tesla recently and found that most are becoming very concerned that Tesla has become a financial risk to their business. The survey uncovered several stories that shine a light on Tesla's cash flow problem and how...
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Have You Ever Walked Away From Business Because of Risk?
Have you ever walked away from new business because you were afraid it was too risky? Here are three quick stories of clients of mine that were able to avoid doing that. The first example is a large industrial contractor that was approached by a large international...
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Want more favorable financing terms from your bank?
Healthy cash flow is the foundation of a stable business. It’s also what business lenders look at when determining how much credit to extend. But how do you protect the health of your business’s most important asset? Insure it. Most business owners I talk to don’t...
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4 Ways to Get Paid When Selling Internationally
Exporters are very familiar with the details of selling, transporting and getting paid for sales made around the world. They'll already know everything in this article (and more!) but if you are considering selling to a foreign prospect or beginning to sell...
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What if your largest customer filed bankruptcy?
If your largest customer filed bankruptcy, what would it do to your business? Force YOU into bankruptcy? Drain your profits for the year? Keep you from paying your suppliers or making payroll? Make you take on debt to stay afloat? Hear a quick story about my client...
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Get Safely Off the Beach: Lessons from D-Day
On D-Day, June 6, 1944, as the American troops embarked on landing craft toward Hitler's Atlantic Wall and the invasion of Europe, a sergeant in one of the boats said to his troops, "Men, we're going into combat and casualties are expected. In fact, 2 out of every 3...
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What you don’t know can hurt you (and wipe out your retirement fund)!
Corporate bankruptcy has been used as a tool to solve non-financial problems for years. Two examples are in the news now and all business owners and financial managers should watch and learn so you aren't the victim. Using bankruptcy to avoid management...
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