Why is funding losses in your business with debt a bad idea? First, there are always two options when funding your business, one is with debt and the other is with equity. But many business owners would prefer to take th
Where’s the cash? Several years back, I had a client ask me if I’ve made $500,000 in profit why isn’t it in the bank account? A very good question I’m sure many of us have wondered. While profits are great, they don’t co
We talked last week about the stumbling blocks to growing your company. One of those was that growth always requires cash. So, how do we get more cash flowing through your organization? First, we need to understand where
Growth always requires cash. Why? Many business owners are seeing a rapid increase in the demand for their products and services. The additional revenue, while good, can be a mixed blessing because it cost money to ramp
Trying to get a line of credit? Frustrated with the bank process? You’re not alone. Navigating the banking landscape can be a very time consuming process. There are two questions you need to answer before you start. Ar
If you’re a service firm, how do you control direct labor costs? This is an area where I see many firms struggle. Direct labor tends to be the most significant cost for service firms. Most firms use a timesheet and recor
If you spend more time poring over financial statements instead of running your business, it’s time to make a change. Let the profitability coaches at McDermott Financial Solutions show you which levers to pull to drive profitability forward. With nearly a century of combined business management and commercial banking expertise, we’ll help you find and fix what’s holding you back and get you on your way to growth and profitability.
We would love to talk with you about your company – how it is functioning currently and where you would like to take it. We are confident that we can help you create or refine your financial plans, and coach you through the steps needed to realize your goals.
Subscribe to our newsletter to learn more about how we are solving financial challenges with our clients.
Check us out on social media, then let us help you find the solutions you need to prosper.