All entrepreneurs need to understand that the Income you made is not necessarily the same as the Cash you have. Previously, we referenced the differences in the Income and Cash Flow Projections and someone wanted to know what is the difference between the two. Income in this case is referring to Net Income (NI) and not Gross Income (GI)….
Cash flow is to business what blood flow is to the body and without them; both entities will soon die . Dealing with financial institutions for start-up capital can sometimes cause you to lose sight of this as you are required to do a three year income projection. While helpful in guiding you along the way, new entrepreneurs often…
Always Keep your Business and Personal Transactions Separated Although a fruit punch may be a nice refreshing drink to have, this mixing concept won’t work as well in all aspects of business. Never mix your business and personal transactions. Not only is this a violation of Basic Accounting Principles but it is dangerous to your business survival. One reason…
If you are ready to begin your journey towards excellence, please contact:
Karlene Gordon
Founder/Chief Performance Enhancement Specialist karlene@obpss.com
