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Lee NorcrossMost accounting firms, law firms, and title agencies are small businesses.  Managing the business side of a professional business can be more important than doing the professional side if you want to keep the doors open.  Many people do not realize that many firms go out of business because of cash flow issues.  Just because a firm is making a profit does not mean that there is cash available to pay rent, salaries, day-to-day expenses, and those unforeseen events.  A recent American Express Article on managing cash flow gives ideas on areas that might help with your cash flow:

1.       Spending too Much on Sales/Marketing

2.       Going with the Seasonal Flow

3.       Relying on Outdated Billing Models

4.       Failing to have Emergency Reserves

If interested in reading the potential ‘fixes’ for each item, click on

Managing Cash Flow from American Express

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