Category Archives: Finance

Putting On The Shareholder Hat

Posted on 09/27/2017 in Business , Finance , Success

As the owner of a business, it is inevitable that you will wear many different hats. You will be the company decision maker, shareholder, HR manager, manager, technician, bookkeeper, business strategist, etc. Too often the role of shareholder gets too little attention. I am going to make the argument that is is one of the most important roles for you to give attention. Why does the role of shareholder get left behind? Because the owner of the business is too busy wearing the other hats in their business. In the day to day operations there are always more urgent items that are calling for your attention. There is a breakdown in the workflow processes. Payroll needs to be made. An important customer needs something to be corrected. Employees need training on how to improve their work. There are always urgent items on the table. Because the items are urgent they tend to be like a squeaky wheel shouting at us. I need you to take care of me now. Urgent does not mean it is important. There will always be more things to do each day than there is time to complete them. The key to growth and success is…

The 10% Solutions

Posted on 07/20/2017 in Business , Finance

In my previous post, I talked about how Cash is King. I ended the post by discussing the topic of building a cash reserve. I’ve heard people say that I can’t afford to build up cash reserves. My reply is you can’t afford to not build up a cash reserve. If you don’t build up a cash reserve it is just a matter of time before you run into an emergency and you need to purchase equipment, inventory, etc. so that your business can operate according to your plans. If you think you can’t afford to build up cash reserves, then it probably means one of two things: The business is not generating enough sales. The business is spending too much money. I don’t think anyone should wait to save money. If you put of saving money now, you will continue to put off saving money until you need the money. The only way to save money is to save money. There are two important aspects of saving money: Start now Have a separate bank. Start now. Maybe you start with $1 a day. Maybe $100 a day. Maybe $100 a week. Start now so that you can establish a…

– Dan and Rachel Kendall

Owners, The Rachel Kendall Team, LLC - Raleigh, NC

Damon Yudichak is a diligent and consistent professional. I’ve worked with Damon since 2009 and I’ve felt like a valued customer since the beginning of our relationship. His firm is consistent, courteous, and knowledgeable. He and his firm are a vital link to my business.

– Al Sullivan, President

Inspirus Consulting, Inc. – Cary, NC

Owning a small business… to me, it’s worth millions! Bringing Damon on for accounting and tax purposes… just a reasonable monthly fee! Keeping our business legal and my business partner sane… PRICELESS!