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My Writings

Essays

aka Long-form rants

Why I don’t call myself a CFO:

Chief Financial Officer is more than a fancy title. CFOs play a very particular and important role in large businesses. I can help your business, but I’m by no means a true CFO (and I’m not going to lie about it just so I can charge you more).

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End the P&L:

Profit & Loss reports are the small business report. But, maybe they shouldn’t be. Read the pros, cons, and learn the P&L tricks.

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What you need to know before opening an S-corp:

The internet loves touting S-corps as an one-size-fits-all tax savings. But, in reality, they’re very complicated and, in some situations, may end up costing you money. 

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Free worksheets:

Various worksheets I use with clients that I’ve made available for free. Currently, that’s just a Profit & Loss worksheet for side-hustles and consultants, but more to come.

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The Tools I’m Using:

This is all the tech I use to run Resting Business Face (including the newsletter, LinkedIn content, and accounting practice). Feel free to rip it off.

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The Email Library

Updated Whenever I Remember

Different kinds of emergency funding

The best time to plan for an emergency is when things are going well. That's when you have a clear mind, time to really think thru your plan, and won't be pressured into making snap decisions. You don't need to have a fully fleshed out wartime-CEO document, but you...

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Search for bottlenecks in your invoicing process

Improving cash flow seems simple on the surface. You just speed up invoice collection, slow down bill payment, and make sure you have capital available for emergencies. But, that's easier said than done. Textbook cash flow advice will only get you so far. For example,...

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Demonstrating value doesn’t end at the sale

Clients are usually the happiest with and most excited by your services when (and shortly after) they hire you. That's when they're most convinced that you can solve whatever problem or pain-point they're currently facing and feel the relief of getting it off their...

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Ask clients for feedback (instead of assuming)

After a few years in business (or in our chosen careers), we fall into this bad habit of assuming we know what our clients and potential new clients want. And, like all assumptions, that makes an ass of you and me. Bad assumptions lead to unhappy clients, weak...

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Always have a Plan B

A major aspect of starting and running a successful small business is experimenting until you find what works for you then doubling down on it. You need to find the right processes, marketing channels, software, locations, employees, service providers, etc. And, once...

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Credit card debt is like quicksand

Credit card debt is a funny thing. It's brutal and can quickly overwhelm your business with its 15%+ interest rates. But, it's frequently glamorized by entrepreneurs. Many entrepreneur influencers suggest funding your early-stage business with credit card debt or...

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Budget in growth for 2021

Hey, I'm Michael Eckstein 👋, and this is 'Ordinary & Necessary', a weekly newsletter about the boring business topics that don't get enough traction on the web, but will help you manage and grow your business. You signed up on my website. If you'd like to...

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Crappy clients are a cash flow problem

Hey, I'm Michael Eckstein 👋, and this is 'Ordinary & Necessary', a weekly newsletter about the boring business topics that don't get enough traction on the web, but will help you manage and grow your business. You signed up on my website. If you'd like to...

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