January 26, 2021

Stimulus: Should Business Owners Pay Off Debt or Invest?

Recently, the government approved the second round of economic stimulus checks for the American people. With the influx of cash, many business owners are asking how it would be best put to use. In today’s post, we will address how business owners can use the stimulus to their advantage, using principles that can be applied to any sudden windfall. Should business owners use the stimulus to pay off debt or invest?
January 21, 2021

How Much Cash is Necessary in a COVID World?

The COVID-19 pandemic has changed so many things within our society. Not the least of which is how we operate our businesses. In this light, I want to talk about a subject that I’ve discussed several times in the past. I’ve always believed that business owners should hold cash beyond their ordinary cash flow. But in today’s post, I want to explore how this might have changed amidst the coronavirus outbreak. So, how much cash is necessary in a COVID world?
November 12, 2020

The CARES Act, Inflation, and Your Wealth Gap – How Concerning?

Not too long ago, the government passed one of the largest economic stimulus packages in history with the CARES Act. The funding that the legislation provided helped many business owners and non-business owners alike, to weather the storm brought on by the COVID-19 pandemic. But could it create an inflationary bubble that might hinder your wealth gap? In this post, we will take a look at the CARES Act and how inflation affects your wealth gap.
October 8, 2020
business in the midst of COVID-3

Business as Usual? How COVID-19 Has Changed The Way We Do Business

So much has changed since the beginning of 2020. The way we socialize, how we learn, even the way that we operate our businesses, all have been changed by COVID-19. So, as we push forward, what does the new normal mean for our businesses and how can we set ourselves apart? There have been many business changes in the midst of COVID-19. As entrepreneurs, it is up to us to adapt and find new ways to flourish. In today’s blog, I want to address some of these changes and look at ways we can position our businesses to succeed.
September 22, 2020
how to set business goals

Caution: Don’t Quit Working On Your Business

Setting business goals at this point in 2020 can seem pointless. However, I was thinking about what 2020 has been like for business owners and I thought that this was a perfect analogy. Down here in the south, NASCAR racing is one of the more popular sports. Now, I don’t quite understand the appeal of watching cars drive in a circle for 3-4 hours but many people love to watch the races. Inevitably, when you have a bunch of vehicles traveling in a pack, at a high rate of speed, there’s going to be an accident. When there is a crash in a NASCAR race, they begin waving what’s known as the caution flag. It warns the other drivers to slow down while they get the wreckage cleared from the track. Even though you might have been forced to slow down, don’t stop!
August 11, 2020

What Every Business Owner Should Know About EIDL Loans

Who would have thought that 2020 would bring about so many changes and challenges? Owning a business is already a difficult endeavor but when you add a global pandemic that causes a near-total shut down of the U.S. economy, well… let’s just say it’s not something that most of us would have volunteered for. Fortunately, the Small Business Administration has provided some assistance in the form of the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL). It has occurred to me that many financial experts have reported on the PPP ad nauseam, while the EIDL remains a bit unknown. Join me as I uncover some of the things business owners should know about the EIDL.