Blog | The Business Profit

Jul 18
1 min

Question #32: What number should I be tracking?

Most business owners are in the dark about 90% of what's going on with their finances. After years of sacrifice, effort, and hard work,...

Diana Miret

Jun 30
1 min

Question #31: A recession is coming. What should I do?

Great question. A recession is indeed coming and this is an opportunity. My recommendation is three-fold: Part One: List the BASIC...

Diana Miret

Jun 13
1 min

Question # 30: But what does a CFO actually DO for me?

A chief financial officer is one of the most important members of your financial team. CFOs supervise financial and accounting...

Diana Miret

Jun 6
1 min

Question # 29: Do I need a Part-Time CFO?

Here are the signs that your business needs a Part-Time CFO Given the financial complexities even small businesses face, the services of...

Diana Miret

May 30
1 min

Question # 28: What is the KEY to profitability?

Two words: productivity. It is not about how many people you have, if they are highly paid, or if they're lower wage, entry level...

Diana Miret

May 23
1 min

Question # 27: Budget or Forecast?

A budget is a license to spend; a forecast is your roadmap to profitability. When I speak to my clients, the most common thing I hear is:...

Diana Miret

May 16
1 min

Question # 26 - "Hey, I made $100K, shouldn't I see $100K in the bank?"

I get this one A LOT! I cannot tell you where every dollar went, but the moneys gone because you either spent it, bought some assets and...

Diana Miret

May 9
3 min

“Diana, I am so stressed out and tired by my business, I just want to close it down and get a job.”

This was the comment made by a successful business owner on a recent coaching call. This business makes good money, shows a respectable...

Diana Miret

May 2
1 min

Question # 25 - I need to increase my profit! Tell me how.

To get a 25% increase in your Net Profit you simply need to do the following things: 2% savings from business expenses 1% increase in...

Diana Miret

Apr 18
1 min

Question # 24: Fixed or variable expenses - which is better?

What happens to your income when revenues go down? Does your income go down? Substantially? So you’re humming along doing $100,000 per...

Diana Miret

Apr 11
1 min

Question # 23: I am not paying myself and proud of it

Some business owners think that not paying themselves is a "badge of honor". When I dig into their books for a minute, I see that they...

Diana Miret

Apr 4
1 min

Question # 22: Let's Talk Prices

One of the fastest, most overlooked ways to break through a money plateau, is to adjust your pricing. It may sound obvious; but for many,...

Diana Miret

Mar 28
1 min

Question # 21: I have a bookkeeper. What else do I need to do?

Monitor your books yourself. This is an obvious practice, but a very important one. Do your best to set aside time each day or month to...

Diana Miret

Mar 21
1 min

Question # 20 - I'm running out of cash and there is still month left. Help!

Have a good billing strategy. Every business owner has a client that is consistently late on its invoices and payments. Managing small...

Diana Miret

Mar 14
2 min

Question #19: My business needs money. Now what?

Answer: There are only three types of financing available to a small business owner: debt financing, equity financing, or a combination...

Diana Miret

Mar 7
1 min

Question # 18: Should I do administrative activities myself to save money?

Short answer: NO. Struggling business owners will spend time to save money, whereas successful business owners will spend money to save...

Diana Miret

Feb 21
2 min

Question # 17: How much should I pay myself?

Let me begin with one clear point: you should pay yourself from day 1 of your business. Before you write me off as silly, let me say...

Diana Miret

Jan 30
2 min

Question # 16: How can I grow my business?

I hear this question from clients a lot at the beginning of the year. Everyone wants to grow their business and find the fastest way to...

Diana Miret

Jan 24
1 min

Question # 15: What is "margin" and why should I care?

Question # 15: What is "margin" and why should I care? 1. You’ll be able to pinpoint areas where your business is struggling By running...

Diana Miret

Jan 17
1 min

Question # 14: How can I DOUBLE my profit?

Did you know that if you Increase sales by 17%, you can double your profit? Yep. If increasing sales is one of your business’s goals for...