David RichterRunning a business is hard work. Business owners take out loans or borrow money to buy equipment, vehicles, real estate, or pay bills during slow months. Valid expenses, but If the debt piles up and isn’t handled well, it can cause serious trouble.
David RichterRunning your business without a financial plan is like driving without a map. Many businesses grow quickly in the beginning. But after that first growth spurt, they stop planning. They don’t have a clear plan for their money, and that causes chaos.
David RichterWhen your business grows fast, it’s easy to pile on overhead like office space, extra staff, new equipment, and other fixed costs. These expenses don’t go away when business slows down. In fact, they become a heavy weight that drags your profit down.
David RichterYou finish the job. You send the invoice. And then – nothing. Most service-based businesses don’t go broke because they aren’t making money. It's because their clients aren't paying their past due invoices fast enough, creating a cash flow disaster