December 9, 2017

Items in italics are direct quotes from the articles below

Do you wish you could get up in the morning with ease? Sure you do. If you haven’t been able to crack the morning code yet, there’s a scientifically-backed recipe to help, thanks to behavioral psychologist, Jo Hemmings. Hemmings shared with Mail Online that she specifically crafted the steps to shake up the body. So, prepare to have some serious ammunition that is guaranteed to win the morning fight naturally instead of grumbling and downing java for energy. The seven steps are: sleep on the left side of the bed, wear yellow, set your alarm to an upbeat song, exercise, do a headstand, take an [ice-cold] shower, and eating breakfast (slow energy release). These seven simple steps are worth trying to see if it can change your morning routine. The morning is how you face the day, and it’s good to try new things that will help you power through the day.  Those quiet moments as you face the day are your moments. Cherish them and squeeze every opportunity out of them.

It was early on a Monday morning when I received the call.  It was Marcy, one of our consultants, and she sounded a bit concerned. “Adam, I didn’t get paid today.” I told her that I’d investigate and get right back to her. When the customer service rep from my payroll provider told me that the bank declined our payroll debit, a lump formed in my throat. Frantic, I logged in to view the company’s bank account. The balance: $0.00 On Friday, there had been over $120,000 of cash in that account. Monday morning, the account was empty. I was stunned. What in the world just happened? I was a first-time entrepreneur, and had I been asking myself the tough questions about our business along the way, I would have seen quite clearly that a freight train was bearing down on us. Here are the six questions I should have asked: Do I have the right relationship with my bank?, How many days can I run this business without new cash flow?, Do I have a customer concentration issue?, Do I have the right business model?, Is everyone on our payroll delivering tangible value?, and Do I need to be spending money on that? As a credit analyst, whenever I’m looking at a business loan request, I’m also asking two of the questions that the author asks. How long will it take for the borrower to receive their accounts receivable? If a business’s accounts are stretching out paying the business from 30 to 60 days to 90 to 120 days, then the business may be having issues collecting from its customers. Another factor I look for is the customer concentration. If a borrower has two accounts that make up over half its revenue, then the company is a risk in my opinion. If you’re looking to save or improve your business, then ask yourself these questions, and be aware of the following lessons: Once the stuff hits the fan, it’s too late to make friends with your banker. My weak collections process created major cash flow problems. I hadn’t built a predictable model for landing new business. Running a high-growth, receivables-based business with low profit margins is a recipe for disaster.  Had I rightsized my organization sooner, I would have had sufficient cash to cushion the impact of a slowing economy, and Little expenses add up to a big cash drain.

This week, I’ve included NEVER GIVE UP – Motivational Video – BEST MOTIVATION FOR 2018 from the Mulligan Brothers YouTube channel.

“If you think you know it all, you’re a fool for sure; real survivors learn wisdom from others.”

Proverbs 28:26 MSG


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