The Fuel Accounting blog page

Did you know we can kill two birds with one stone? Well, I’m about to tell you how!! One of THE biggest challenges facing small/medium businesses (SMB’s) centers around tactical cash flow management and achieving strategic objectives. How can you balance short term cash management with long term strategy? We do have a solution for that. It’s called our Profit First Cash Management System (PFCMS).

Whenever I’ve heard someone tell me they’d like to give me feedback on something, the antennas go up and I brace myself for some REALLY BAD NEWS… That’s how things usually roll in life, right? Who likes to hear that they’ve done terrible work, or botched a job? Yet, while giving difficult feedback can be difficult on our side, maybe it’s time to consider the effect of NOT giving that feedback.

I know, you wear lots of different hats every day. There is so much to get done, and there is not always someone specifically assigned to do it. That is the nature of a Small/Medium Business (SMB). But those little things all need to be done, so we constantly switch roles (or change hats) and make it happen. The problem is that SMB’s often are so busy changing hats, that they lose focus on the big picture. Are you so busy flying the plane that you forget about the destination?

For those of you not yet familiar with our Profit First Cash Management System (PFCMS), it gives you the opportunity of taking charge of your cash and profitability. We use Profit First in our practice, and many of our clients use it as well. It works amazingly great…

Well, why don’t you ask yourself if your business is a finite, or infinite enterprise? Sure, your business had a beginning. It might also have rules (processes), timelines, and score keeping (the numbers). But when does it end? What does the end even look like? This is an important concept to consider for several reasons:

Oh great. So now what should you do? Well, I guess you could cross your fingers and spend more money. Or, you could try to guess which half is a waste, and eliminate it. The main problem is one of measurement (or lack of measurement). There are tons of marketing geeks out there that want to take your money and promise thousands of views and clicks. 

Wait, what? Am I telling you that you need more than one bank account? Yes, I am!! Remember how our grandparents did finances? The paycheck got cashed, and the money came home and was put into separate envelopes: Rent, Food, Clothing, etc.

Funnel cakes, funnel clouds, sales funnels, there are funnels all around us… You’ve probably been hearing this term used a lot lately, along with a sales pipeline. There are many confusing definitions surrounding this area. A sales funnel and a sales pipeline are really two things describing one thing: So let’s land the plane here and make it simple. 

We’ve been through so much turmoil in the last 3 years.  So what is the forecast for this year?  While we don’t have a crystal ball, here are Peter’s predictions for 2024. Inflation is going to continue to be a problem:  Wage growth is going to continue – probably stronger than in the past few years as the population continues to struggle with the ravages of increases in the cost of basics such as food and housing. 

Well, have you been thinking about your goals? Oh wait, are you one of those people that believe in New Year’s Resolutions? I used to be one of those myself. But I’ve since learned the difference between a wish and a plan. So what is the difference between a wish and a plan?