Businesses rely on working capital management to ensure that operations are running efficiently. In other words, companies rely on established cash flow methods to ensure that monthly goals are kept in line.

Given the importance of capital management, it is essential to ensure that their system is both strong and efficient . Failure to do so could potentially cost the company down the line, especially in terms of wasted resources.

What Is Working Capital Management?

Working capital management is a way for businesses to manage their current assets (finances, inventory, property, etc.). …

Branding, marketing, and communication are all essential parts of a small business’s tool kit. This is how a company can stand out from the crowd. More importantly, it’s how a business ensures that potential customers know about them, remember them — and keep coming back.

Traditionally mom and pop stores may have relied on word of mouth, but with the advance of technology, it is now more important than ever to have a marketing campaign strategy. Here’s some advice for mom and pop shops to follow for their next marketing campaign.

Understand Your Target Audience — And Your Competition

Before…

Many athletes dream of one day competing in the Olympic Games and taking home the gold. The Olympics are made up of the greatest athletes in the world competing for the most coveted and sought-after medals. It is an international sports festival that is held every four years with both Summer Games and Winter Games. While people are watching from all over the world supporting their country and hoping they’ll come out on top, the Olympics aren’t all about winning.

Ultimately the goals of the Olympics are to cultivate people and contribute to world peace through sport.

The History of…

When staying on top of your business’s finances, it’s essential to have a good understanding of what working capital is. A simple definition of working capital is the difference between a company’s current assets and its current liabilities. Current assets include cash, customers’ unpaid bills, inventory, and more. Current liabilities are accounts payable.

The working capital measures your business’s liquidity, operational efficiency, and short-term financial health.

The Importance of Working Capital

Your business is in good financial health if it has substantial positive working capital. Positive working capital means you’ll have a greater chance to invest and grow your business…

It isn’t “just business” when you’re working with your family. Although sharing a family business can be wonderful and even empowering, family dynamics can quickly get in the way and make business personal. Anything from sibling rivalry, generational differences, and past conflicts can lead to ineffective communication and misunderstandings, which affects the business. This is why having a code of conduct is essential for the success of your family business.

Why Have a Code of Conduct

A code of conduct should be a list of rules and expectations for communication and behavior. Everyone must agree to this code of conduct…

No matter how long a team’s winning streak is, eventually, there will be a loss. Coming back from that can be difficult, especially when egos are wounded. It’s important to not get discouraged, but it’s also equally essential that a team never gets comfortable with losing. There is a balance that needs to be established, which can be found by following these tips:

Hit the Gym or the Field

When an athlete or team has suffered a loss, it could be tempting to take a break and think about what could have gone wrong. The best thing to do is…

In debt? For most, that’s the last place you want your business to be, but it can happen to anyone. When you find your small business in unmanageable debt, it’s essential to not panic too fast and start looking for a solution. Bad management of your debts can lead to you owing more and getting yourself into an even bigger pickle. Here are some tips for getting control of your business’s debt:

Start Early and Get Organized

Once you notice a pattern of making less of a profit and owing more payments than what your business is making, it’s time…

Shopping local is a great way to find unique spots in your area. Florida is home to many amazing local shops and family-owned businesses. From unique restaurants, cafes, flower shops, and vintage stores, there is something for everyone. Whether or not you live in Florida, these places are well worth visit. Check out the best mom and pop shops in Florida:

Ginny’s and Jane E’s Cafe and Coastal Store

This creative cafe is certainly one you’ll want to visit again and again. While at Ginny’s and Jane E’s Cafe, you can sip on a fresh cup of coffee and munch…