Diana Miret
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...
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Diana Miret
- Mar 7, 2022
- 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...
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Diana Miret
- Feb 21, 2022
- 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...
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Diana Miret
- Jan 30, 2022
- 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...
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Diana Miret
- Jan 24, 2022
- 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...
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Diana Miret
- Jan 17, 2022
- 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...
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Diana Miret
- Jan 10, 2022
- 3 min
Question # 13 - What is my break-even?
(this is a post from a respected writer - see below). Use This Formula to Calculate a Breakeven Point (for a product based business)...
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Diana Miret
- Jan 3, 2022
- 1 min
Question # 12: How can I increase my profit?
To get a 25% increase in your Net Profit you simply need to make a: ● 1% reduction in your fixed expenses ● 1% reduction from...
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Diana Miret
- Dec 27, 2021
- 3 min
A year-end question from your CFO: What financial habit do you have that is no longer serving you?
At the end of a year, we tend to ask ourselves questions about the goals we wish to achieve in the coming year. I support spending a day...
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Diana Miret
- Dec 20, 2021
- 2 min
Question # 11: When should I hire my first employee?
The answer is simple: when you have the time, money, role and onboarding process carefully detailed. It's simple, but not necessarily...
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Diana Miret
- Dec 13, 2021
- 1 min
Question # 10 – Is it wrong to charge personal expenses to the business?
Wrong? Sometimes. Ill advised. Yes. From our friends at the IRS: Question I'm a sole proprietor and pay personal expenses out of my...
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Diana Miret
- Dec 6, 2021
- 1 min
Question # 9: How can I have more cash flow?
There is 1 key component to cash flow: money coming in must be greater than money going out. At all times - not just at the end of the...
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Diana Miret
- Nov 29, 2021
- 1 min
Question # 8 - How do I know if my services are profitable?
CFO Rule of Thumb: 80% of your profits should be coming from 20% of your services. Short and sweet. If you need help figuring out how...
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Diana Miret
- Nov 22, 2021
- 1 min
Question # 7: How much should I spend on growing my business?
Rule of Thumb: Every dollar spent on growth must produce 5 dollars in revenue. It's called the 5X rule. Successful, growing businesses...
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Diana Miret
- Nov 15, 2021
- 2 min
Question # 6 - My biz is small. Do I need a separate bank account?
Short answer: HELL YES! One of the most important things you can do as a small business owner is to separate your business from your...
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Diana Miret
- Nov 8, 2021
- 4 min
Question # 5 - What is my business worth? It's not on the Profit & Loss!
The Balance Sheet is the true scorekeeper of your business. Photo by Rachel Claire from Pexels One of the most dangerous health...
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Diana Miret
- Nov 1, 2021
- 1 min
Question # 4: Should I show a profit in the business?
You may assume that you "should" make a profit. But have you asked yourself why? Let me be clear: YOU MUST MAKE A PROFIT Because profit...
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Diana Miret
- Oct 25, 2021
- 2 min
Are you a Powerful Woman?
Women view power VERY differently than men. Men tend to associate power with what they can own and command. Women tend to associate...
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Diana Miret
- Oct 25, 2021
- 2 min
Question # 3: How much should I spend on getting a new customer?
The value of a customer should be three times more than the cost of acquiring them. If we spend too much money chasing customers, it...
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Diana Miret
- Oct 18, 2021
- 1 min
Question # 2: What business numbers should I look at weekly?
If you only have 30 minutes a week to look at your numbers, I recommend the following 5 numbers to watch weekly and track. I understand...
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