95 percent of businesses fail. If your business is in the black, but still not getting ahead, you are not alone
Boston, MA (PRWEB) May 17, 2006
Offering small business owners an avenue to assist them in increasing their earnings, Boston financial expert Carole A. Symonds, CPA, MST, has prevailed upon her publisher to give away free online training, teaching non-financial managers how to make their businesses more profitable.
“95 percent of businesses fail. If your business is in the black, but still not getting ahead, you are not alone,” Ms. Symonds recently told radio listeners. “Research shows that 80 percent of new business ventures are out of business within 6 years, and 95 percent are out of business within 10 years.”
Partner in one of the world’s largest Big Four Public Accounting Firms, Ms. Symonds, CPA, MST, sees this happen time and again. “Most business owners are not financial experts and, therefore, cannot see the warning signs until it’s too late,” she cautioned.
In a recent interview, Symonds cited five common myths on business and finance:
1. Positive cash flow is equal to profitability.
In fact, cash flow generally increases right before you go out of business.
2. Revenue growth is essential to bottom line growth.
The truth is that growing too fast can put the business in jeopardy.
3. Cost of Capital is the same for every business.
Most managers don’t know what their cost of capital is, or how to manage it when they do.
4. Profit is what remains after all expenses are paid.
Profit has a cost, and the best businesses know what that cost is.
5. You need an accounting degree to understand finance.
The financial techniques that are key to running a successful business can be learned and applied immediately by virtually anyone.
Based on the work of her late father, Curtis W. Symonds, the world’s preeminent authority on Return on Invested Capital, Symonds has developed an easy five-step approach that can make any business more profitable and any business owner or manager more financially savvy.
To prove this point, Ms. Symonds’ publisher is offering free online training to the first 1,000 small business owners who apply before June 30, 2006. For 37 years, this training has been available only at live seminars at a cost of $3,100 per entrant. A registration fee of $37.00 is required. First come – first served. Learn more about this offer here: http://www.MillionaireManager.com.