Easy Money: Merchant Loans and 2/10 Net Thirty Payment Terms

Easy Money: Merchant Loans and 2/10 Net Thirty Payment Terms

I suspect that most of us could use an extra $100,000 in cash.  It would sure be nice to have cash to pay down the line of credit, get current with suppliers, or catch up on payroll taxes. Access to easy cash makes so-named merchant loans pretty attractive.

You know the loans, they’re the ones where they make a few cursory checks of your credit score and bank statements then wire money directly into your account. Presto, cash problems resolved (for the time being anyway).

Sounds too good to be true doesn’t it? It is.

Break Even Analysis: What is it and Why it Matters

Break Even Analysis: What is it and Why it Matters

Break even sales is the point at which we’ve sold just enough to pay all of our expenses, with nothing left over for profit. In other words, it’s the point at which profit and loss equal exactly zero. It turns out that breakeven is among the most powerful tools we have for making management decisions.

I understand that a lot of us don’t like numbers, but these are just too important to ignore. If you plan on succeeding in business, suck it up. Sacrifice the few minutes it takes to understand.

 

The Four Fundamentals of a Successful Business

The Four Fundamentals of a Successful Business

All of us want to build a successful business, either to reach our potential or to reduce our suffering, or both. We all want to improve our companies, but few of us devote meaningful time or attention to doing it. 

First, we are so busy working in our businesses that we push it off to a “tomorrow’ that never comes, and second, we don’t really know how to go about it. 

The Grit to Grow Your Business

The Grit to Grow Your Business

“Martin, I’ve had it with growing my business and your push-through stuff. ” It was a text from a client. I called him.

“What’s up?” I asked.

“I’m going back to just me. I can’t depend on these guys I hired. If they show up, they mess up. I spend most of my time fixing their screw-ups, and I still have all of my work to do. They’re ruining my reputation, I’m out of cash, and I couldn’t pay myself last week. My life was better when it was just me.  A lot better.”