Without a doubt, March 2020 was anything but ordinary, and many, especially small businesses, felt the financial impact. The incoming wave of fright and uncertainty surrounding the coronavirus pandemic urged society to immediately halt their services, close their doors, and remain in an indefinite lockdown. With each passing day, smaller businesses quickly began feeling the...
AllbusinessBusiness Coachingbusiness growthconsultantERPFinanceHuman ResourcesM&AProcess Improvementsmall-businessSpecials and discountsUncategorized
The rules regarding the Paycheck Protection Program (PPP) are hard to understand. We are working with clients daily who are confused about the rules, and I don’t blame them one bit. Here’s an update to help you get some clarity on how to navigate the PPP program. Can you apply for the First Draw PPP?...
businessBusiness Coachingbusiness growthFinanceM&Asmall-businessStartups: Effectively Communicate Your Budget
For many businesses out there, January is the time to get approval on the coming year’s budget. Assuming that you have prepared a great budget, the next task at hand is to communicate it and get it approved. Below are some tips for ensuring your budget is understood by your investors as well as by...
businessBusiness Coachingbusiness growthconsultantFinanceProcess Improvementsmall-businessOverhead And How To Reduce Overhead Costs
Overhead, otherwise known as overhead costs, refers to the ongoing expenses associated with operating a business. Understanding your overhead costs and keeping them under control is essential to success as a business owner. Overhead Costs Overhead costs represent business expenses that are not directly related to making a product or performing a service. Expenses such...
businessBusiness Coachingbusiness growthProcess Improvementsmall-businessUtilizing Kaizen To Overcome Manufacturing Uncertainty And Change
Manufacturing is constantly facing new challenges, we are seeing very strong global competition, Industry 4.0 is transforming the industry, and we have millennials entering the workforce. Risks are evolving as well, constant economic uncertainty, and cyber security attacks are becoming a real threat to the industry. To remain competitive, manufactures cannot afford to proceed with...
businessBusiness Coachingbusiness growthFinanceM&Asmall-businessSpecials and discountsM&A Transactions: Is Confidentiality a Myth?
All M&A transactions require the business owner(s) to reveal information that is highly confidential and crucial to the success of the business. This action goes against the normal course of action for the business. Revealing this type of information to the wrong party can be detrimental to business operations moving forward, particularly in tight knot...
Business Coachingbusiness growthconsultantFinancesmall-businessSpecials and discountsSecond Chance for PPP Loans and EIDL Grants – Stimulus Assistance for Farmers and Ranchers
The $908 billion relief package signed into law on December 27, 2020 includes a very favorable update to the Paycheck Protection Program (PPP) for farmers and ranchers. The relief package also provides the Small Business Administration (SBA) with an additional $284 billion for PPP Loans, $20 billion for Economic Injury Disaster Loan (EIDL) grants, and...
businessbusiness growthconsultantFinancesmall-businessSpecials and discountsAdditional PPP Loans Are Coming
A new coronavirus relief bill will provide $284 billion in loans for small businesses. Here is how your business can get a second one. A new $900 billion coronavirus relief and stimulus package was signed into law by President Trump. One of its provisions: An extension of the Paycheck Protection Program, allowing another $284 billion...
businessBusiness Coachingbusiness growthconsultantHuman Resourcessmall-businessBreak Down The Silo Between Sales and Operations
When working with clients on their organizational structure, we often see very separated departmental silos. It is a very common mistake, but a very correctable mistake. This post is going to focus on the most common departmental silos, sales and operations. It is common for these same clients to believe that it is the sales...
businessBusiness Coachingbusiness growthconsultantFinancesmall-businessBusiness Funding Search: 5 Resources You’ll Need
If you are a small business owner, it is likely you will reach a time when you need a small business loan to help you through a slow period or in a period of growth. Beginning your search can be overwhelming, with all of the options available out there. We are going to look at...
businessBusiness Coachingbusiness growthconsultantFinancesmall-businessWhat To Do If You Violate A Bank Covenant
At MCDA CCG our finance experts have over 80 years of client experience and inevitably, we have had clients that violated a bank covenant. Our advice is alway to be proactive and upfront and avoid having to be reactive. Bankers Hate Surprises Bankers are looking for clarity, certainty, and more importantly, communication! Their job is...
businessBusiness Coachingbusiness growthconsultantERPFinanceHuman Resourcessmall-businessSpecials and discountsCreating A Change Management Plan
What is a Change Management Plan? A change management plan is the outline that informs the use of tools and processes for managing the people side of change. The importance of change management stems from the fact that your employees (or end users) determine the success of your project. Some key aspects of an effective...
businessBusiness Coachingbusiness growthconsultantFinancesmall-businessSpecials and discountsSimple Ways To Save On Business Expenses
The costs associated with running a business seems to increase annually. As we are rapidly approaching 2021, without fail you will see everything getting more and more expensive. Rent, employee costs, travel expenses, all of it will likely increase. We have put together five simple ways in which you may be able to save a...
businessBusiness Coachingbusiness growthFinancesmall-businessSpecials and discountsPreparing to Sell Your Business: Tips to Help You Prepare
selling a business, business sales consultant, business advisor
businessBusiness Coachingbusiness growthconsultantHuman Resourcessmall-businessSpecials and discountsUncovering Hidden Talent in Your Organization
Executives generally have a few key attributes they look for in the next generation of leaders that display a promise of outstanding things to come. Executives then become huge advocates for the individuals that are demonstrating these aspects; they write gleaming performance reviews and do what they can to ensure these stars are in the...
businessBusiness Coachingbusiness growthconsultantFinancesmall-businessDodging the Financial Death Spiral
You will often hear people in finance talk about the death spiral. Generally speaking, this typically would involve a loan from investors to a company, and the investors would receive a type of convertible debt in return for making the loan. This type of debt would give the loaning investors the option of exchanging that...
businessBusiness Coachingbusiness growthconsultantsmall-businessPotential Snags With Mergers & Acquisitions
I have always been a fan of considering mergers & acquisitions (M&A) as a workable way to quickly scale your business. However, this road is not foolproof by any means. Let’s go over some of things that can go wrong, so do your research, consult a professional and plan accordingly. WRONG TEAM The skillsets your...
businessBusiness Coachingbusiness growthconsultantHuman Resourcessmall-businessUncategorizedIT IS TIME TO LOOK FOR A NEW JOB? SIGNS THAT ITS TIME
The days of working 35-40+ years for the same employer and retiring with a nice pension after years of work and loyalty seem to have been replaced with a new normal – changing jobs every few years pursuing knowledge, challenge and career satisfaction. How many people do you know that have started and ended their...
businessBusiness Coachingbusiness growthconsultantERPFinancesmall-businessSpecials and discountsThe Value of Inventory Management for Small Businesses
Small businesses prosper on the relationships they build with customers and product suppliers. Unfortunately, at any moment, these relationships can be strained due to the lack of proper inventory management. Managing your inventory on a regular basis will help prevent a shortage or surplus of your company’s products allowing you to thrive in areas such...
businessBusiness Coachingbusiness growthHuman Resourcessmall-businessAre You Considering Joining a Startup? Questions You Should Be Asking
My experience with startups has been either as an advisor or consultant to the founding team members. In those roles I have generally been on the hiring and recruiting side of the equation. I am amazed how often candidates fail to ask some what I consider the basics before joining a startup. They get the...
businessBusiness Coachingbusiness growthconsultantFinancesmall-businessSpecials and discountsSafeguard Your Business By Utilizing Cash Management Services
As you can see as a small business owner, technology has rapidly changed the way in which things get done. Customer’s are rarely using cash, having a mobile-friendly website is expected, and having some form of social media presence is pretty much a basic necessity now. With that being said, why haven’t we all fully...
businessBusiness Coachingbusiness growthconsultantHuman Resourcessmall-businessSpecials and discountsPrepare Job Descriptions For 2021
I think we can all agree that 2020 has been one very crazy year. Employees and employers have been forced to learn tough lessons on pivoting and remote work. At MCDA CCG our HR team has been observing how our clients use of systems, communication skills, performance feedback (or lack of), standard operating procedures, etc.,...
businessBusiness Coachingbusiness growthconsultantFinancesmall-businessMy Business Is Running Out of Cash…Now What?
Lets start by evaluating your current cash position… #1 How much cash do you have left? #2 Is the answer to question #1 enough to cover payroll expenses? If the answer is no… #3 When is the next payroll obligation? If the unfortunate answer to #2 was “no”, you need to immediately get a plan...
businessBusiness Coachingbusiness growthconsultantFinancesmall-businessStartups: Important Tips to Secure the Right Loan
Congratulations on having a great business idea! You are now starting a journey that will challenge you to make critical decisions for your business. You now find yourself needing to secure funding. You can accomplish this by pitching your idea to angel investors, investors, borrow from friends and family or seek commercial lending. Majority of...