John Lafferty is the Problem Solver – Week 4

By John Lafferty

This month, we continue to profile the work that John Lafferty has done to refocus and maintain the financial stability of various companies. As you read through these profiles, ask yourself, “Does this sound like an issue that my business is having”? Week 4 – Specializing in Specialties Place: Midwest Company Type: Specialty Products The…

John Lafferty is the Problem Solver – Week 3

By John Lafferty

This month, we continue to profile the work that John Lafferty has done to refocus and maintain the financial stability of various companies. As you read through these profiles, ask yourself, “Does this sound like an issue that my business is having”? Week 3 – Keeping On Point–Online Place: Around the World (international business) Company…

John Lafferty is the Problem Solver – Week 2

By John Lafferty

This month, we continue to profile the work that John Lafferty has done to refocus and maintain the financial stability of various companies. As you read through these profiles, ask yourself, “does this sound like a issue that my business is having”? Week 2 – Food Service and Financials Place: Chicago, Illinois Company Type: Food…

John Lafferty is the Problem Solver – Week 1

By John Lafferty

Usually, we start the month with a series of posts that help businesses stay on track for financial growth. This month, we are profiling the work that John Lafferty has done to refocus and maintain the financial stability of various companies. As you read the profiles this month, ask yourself, “does this sound like a…

Back to Basics – Do You Have the Right Chart of Accounts? – Week 4

By John Lafferty

For those not inclined to be organized, the idea of doing your own accounting beyond balancing your checkbook may make you a little queasy.  However, you’ve managed to keep your lunch this far, and guess what?  You’re almost done!  Over the past three weeks, we’ve discussed balance sheets, income statements, and cash flow statements; today,…

Back to Basics – Understanding the Cash Flow Statement – Week 3

By John Lafferty

To reiterate, there are four main types of financial statements: the balance sheet, the income statement, the cash flow statement, and the statement of shareholder’s equity. Balance sheets were our first topic of discussion this month; last week we covered income statements; now it’s on to cash flow statements. There is a difference between profit —…

Back to Basics – Managing Your Finances 101 – Week 2

By John Lafferty

It’s easy to become daunted when faced with the intricacies of financial statements, especially when you’re a new business owner. Fortunately, you don’t have to have an MBA in order to make sense of your financial statements, and you don’t have to fear the challenges presented by this very important part of your business. Week…

Back to Basics – Managing Your Finances 101 – Week 1

By John Lafferty

The ornaments have been removed from the trees and packed away for next year and the cruise ships have returned from Mexico and the Caribbean, so it’s safe to say the holidays are over. As most individuals head back to work, entrepreneurs (who may not have stopped working during the holiday) are starting the year…

Preparing for Entrepreneurship – Establishing Operating Capital for Business Longevity – Week 5

By John Lafferty

Does everybody wish on occasion that they had a guardian angel? Someone who is looking out for your best interest and can provide assistance when needed? As a business owner, you may need this assistance at various times, because of the unpredictability of entrepreneurship. Enter the angel investor… Week 5: Angel Investors Angel investors, also…

Preparing for Entrepreneurship – Establishing Operating Capital for Business Longevity – Week 4

By John Lafferty

One of the places small business owners and entrepreneurs have learned to be most wary of is traditional financial institutions; namely, banks.  However, a not-so-traditional version of a traditional financial institution has become one of the champions of small businesses: community banks. Week 4: Community Banking If customer service, local benefits and a surprising lack…