|
Myth: A net profit indicates my business is doing well.
Fact: Some
businesses with a net profit can not pay their loans or
obligations. Some businesses with net losses do well and can pay
their obligations. Cash flow is more important than net
profit/loss. Multiman Consulting can help you track your cash
flow.
Myth: My business is doing all right. Why change anything?
Fact: Your business may be meeting your basic cash needs,
but is it as efficient and effective as it can be? You improve
what you track. Average is not good enough. You became a business
owner to succeed. Multiman can focus on your businesses strengths
and weaknesses, and made you more profitable.
Myth: I don’t have the time, knowledge
or money.
Fact: You don’t have to be an expert
in every area. You can hire expertise. For legal matters you
hire an attorney. Why not hire an MBA to help you with managing
your business? Multiman Consulting can develop a Management
Information System (MIS) to help you track your business in
several areas. In fact, most MIS more than pay for
themselves. Work with Multiman Consulting to develop a MIS to
improve your profitability and reduce costs.
Myth: I can look at my checking
account to know how my business is doing.
Fact: Unpaid accounts receivable and
payables do not show up in your checking account. Accounts
payable left unpaid can affect your relationship with suppliers.
Unpaid receivables will affect your cash flow negatively. There
is more than one account to monitor.
Myth: I was declined for a loan, my
banker doesn’t like me.
Fact: Banks do not make loans based on
friendships or personalities. The lending decision is based on 5
C’s of credit, Character, Capacity, Capital, Collateral, and
Conditions. There must have been some weaknesses in on or more
areas for them to decline the loan. They are lending out other
peoples' money, they are going to be cautious when making that
decision. If you would to know how and where to get financed
Multiman Consulting can help. With former business loan
officers on staff, we can analyze your financing needs and if its
bankable develop a loan proposal to take to banks. If its
unbankable, we will tell you your other options. Lenders are
required to accept all applications even if they know they will
decline them. Don't waste your time, money and credit rating
jumping from bank to bank looking for financing, find out ahead.
Call Multiman Consulting.
|