For those of you who are not familiar with AllTop, here is how it describes itself:

“Alltop is an “online magazine rack” of popular topics. We update the stories every hour. Pick a topic by searching, news category, or name, and we’ll deliver it to you 24 x 7. All the topics, all the time.”

Shortly after its release in March of 2008 this blog was featured on AllTop’s feed for startups (we’re still there).

The website was founded by Guy Kawasaki who I called the World’s Most Gentlemanly Blogger and has experienced tremendous growth over the past year and has an Alexa Ranking under 65,000.

One year after its release AllTop has now added in an exciting new feature – the ability to personalize your AllTop experience. Called My.AllTop.com, the feature allows you to choose which blogs you want to feature on your AllTop page so make sure to put the YoungEntrepreneur.com blog feed on your list!

You can drag and drop pages in and out and AllTop will also make recommendations of new blogs that you might enjoy reading. It’s a great way to stay on top of your current favorite blogs as well as discover new ones! There is also the feature to share your customized page with friends, family, Twitter contacts, etc.

Apparently they are also working on creating a RSS feed as well for your favorite blogs but that feature is still in development. Stay tuned!

If you haven’t checked out AllTop yet I would encourage you to create a My.AllTop.com account to see what the excitement is all about and don’t forget to add YoungEntrepreneur.com to your list!

Passion, ingenuity, hard work. These are important personal attributes that can help ensure business success. But it’s not what you make, it’s what you keep (after tax) that counts, so follow these tax tips to improve your bottom line.

1. Set up an accounting system. You don’t need an accounting degree to use simple and inexpensive software or online solutions to record your income and expenses. Make it a habit to log in your gross receipts and your payments on a regular basis. Don’t have the time or inclination for data entry? Find someone—an employee, outside bookkeeper, or accountant—to do this for you.

2. Use a separate business bank account. Don’t co-mingle your personal finances with your business matters. A business-only bank account can simplify your record keeping and help you easily manage your finances so you can focus on running your business. There are many tools out there that can help you easily make this separation. Bank of America’s Business Fundamentals checking package provides small business customers with the control to easily manage fees and account information as well as the security of knowing that transactions are guaranteed to be safe and protected. Take it one step further and go online. Besides tax savings, using online banking can save you considerable time in monitoring your cash and paying your bills.

3. Understand how your choice of entity impacts your taxes. Are you a sole proprietor? An S corporation? The legal structure of your business affects tax payments. For example, if you’re a sole proprietor, you must pay Social Security and Medicare taxes (collectively called self-employment tax) on your net earnings from self-employment, regardless of whether you actually take this money or reinvest it in the business. Factor tax considerations into your choice of entity.

4. Keep receipts. To claim various tax deductions and tax credits, you need proof of expenditures. You also need a diary or other written record of travel and entertainment costs (BlackBerry entries and other electronic records can be acceptable). Get organized so you can find receipts at tax preparation time.

5. Plan ahead for tax payments. Usually, as a business owner you must pay taxes on your business income in quarterly estimated tax payments. To ensure you have enough cash on hand to meet this obligation, it’s a good idea to set aside money on a regular basis for this purpose. For instance, if you’re in the 25% tax bracket for federal income taxes, you might want to transfer 25% of all fees or other earnings into a separate bank account used for making tax payments.

About Barbara

Barbara Weltman is a top selling author, attorney, tax and small business expert. Barbara serves as an expert on Bank of America’s Small Business Online Community. She recently conducted an expert forum on the Small Business Online Community, where she answered questions about the impact of the stimulus package on small business owners. Barbara has also authored several books include “J.K. Lasser’s Small Business Taxes” and “The Complete Idiot’s Guide to Starting a Home-Based Business.”

At the beginning of the year I hired two new full time employees. One of them is now my Marketing Manager while the other is a computer programmer.

It was an exciting time bringing them on. I was able to delegate more tasks and move forward faster on projects I wanted to get done.

With March almost over I’m coming up to my first quarter with them and need to do a performance review.

I’ve typically done reviews on an informal basis but as my team is growing I’m looking to get a little more structure this time around.

Everybody in my company has one main business goal that they are trying to hit. The goals are all based around customer satisfcation. My Marketing Manager, for example, has to get 20 “wow” emails from customers every month. This means that my customers, on their own time and without prompting, have to write in to say what a great experience they had working with us. Getting 20 of these in a month is extremely challenging but it’s a good stretch goal for him.

Everybody also has a personal goal that they are shooting for. Mine is to come up with 25 new salsa turn patterns (I’m a salsa dancer by night). Others here have book writing, cooking, money making goals, etc.

What I’m going to do this quarter is check in on how they have been doing in terms of hitting their numbers. I also ask these questions every quarter:

- What do you enjoy the most about your position?

- What do you enjoy the least?

- Can we automate any of the tasks that you do for you?

- What do you want to learn? Where do you want to go? How can I help?

- What would you do differently if it were your company?

I’m sure I’ll get an influx of new ideas from the two new staffers as well as learn more about how they’ve enjoyed the past three months and how we can make the work experience even better.

For those of you Young Entrepreneur readers who have staff, what questions do you ask? What would you suggest that I add to my list?

Evan Carmichael

YE Founder Adam Toren had the great opportunity to interview a great ‘Food Entrepreneur’ with a driving passion for creating wholesome goodness in every bite!

Carolyn Creswell, Carman’s Fine Foods founder and managing director, is a role model for people who have always wanted to take the plunge on that great business idea or opportunity. Carolyn has single handedly grown her business from hand making muesli for a few Melbourne cafes and delis at the age of 18, to now running a multinational company, spanning 21 countries and turning over more than $15 million annually.

Carman’s Classic, Original Fruit-Free and Apricot & Almond muesli bars are available nationally at Whole Foods supermarkets. Free from artificial colours, flavours and preservatives, Carman’s muesli bars are made from a selection of GM-free rolled oats, nuts, dried fruit, seeds, honey, corn syrup, rapeseed oil, cinnamon and natural vanilla. That’s all – nothing else, no weird chemicals with numbers after them, or words you don’t understand, just natural wholesome ingredients.

Although Australian born, Carolyn had an all American upbringing in La Palma, Los Angeles, where she practiced cheerleading, basketball and softball. Carolyn still misses the wholesome American sense of community and feels that her entrepreneurial spirit formed in the USA.

In March this year Carman’s Fine Foods founder Carolyn Creswell will be returning to LA to exhibit at the Expo West trade show and build on the amazing success of her muesli bar range in Whole Foods. Carman’s delicious, healthy muesli and bars are free from artificial colors, flavors and preservatives, and have a low GI to keep you feeling fuller for longer. The bars are great to keep in your drawer at work, or to eat on the go when you need a quick nutritious snack.

List the name of your company and website.
Carman’s Fine Foods www.carmansfinefoods.com.au
Title: California’s youngest entrepreneur returns to LA!
Industry: Healthy muesli
Type of company: Privately owned by founder
Year founded: 1992
Location: Melbourne, Australia
Number of employees: 13

1. What is the start-up story behind your business venture? When I was 18 I was working part-time at a bakery while at University. The bakers would bake in the early morning then I would mix up muesli by hand and toast it in the ovens to supply to a few local cafes. The couple that owned it told me that they were closing the business and couldn’t employ me anymore, so I offered them $1,000 for the muesli part of the business and Carman’s was born.

2. What is your definition of success and has your company achieved it?
Doing the best you can with what you have got. Attitude is everything. If you always think the glass is half full, you will find it rubs off on those around you and leads to a happier, healthier life.

3. To what do you attribute your company’s recent achievements?
A wonderful, dedicated team with passion for what we do! Never missing an opportunity.

5. What three pieces of advice would you give to aspiring entrepreneurs?
Have a crystal clear vision of where your business is heading and refer to it everyday when decision making.
Write lists, prioritize and clear your inbox every day. Learn to say no to things that aren’t important so you can ‘work smarter’ rather than ‘harder’ ‘Drive it like you stole it’! Sometimes you just have to trust your instincts, dive into the deep end and go for it!

6. What have been some of your failures, and what have you learned from them?
Disasters can often transform into opportunities. Think positive and outside the square.

7. Describe/outline your typical day?
I try and have a morning ritual and start my day with a swim,, yoga or a walk. I’ll often have a breakfast meeting, then during the drive to the office I tend to do some mentoring (I regularly receives calls from other aspiring entrepreneurs wanting advice). Once I get into the office, I try to be there for my staff-to help with any issues, offer support and encouragement. I always leave the office by 5pm to start my other job, as a mother! It is so important to have a work life balance and be there for the family.

8. Where did your organizations funding/capital come from and how did you go about getting it? When I was 18 I bought the business for $1,000, which I had in savings.

9. What stops you from throwing in the towel and giving up during those frustrating days of running your business?
Knowing how many people love Carman’s! I get such a great sense of satisfaction every time I get an email from a happy customer, I realize how many people are so supportive of Carman’s.

10. Do you believe there is some sort of pattern or formula to becoming a successful entrepreneur?
You need to be a risk taker, be able to think creatively when it comes to problem solving, and most importantly, have enthusiasm for what you do.

11. Who has influenced you most and been your greatest inspiration?
My Mother.

12. What book has inspired you the most?
‘Who said Elephants Can’t dance’ by Louis V Gerstner Jr

13. How do you go about marketing your business? What has been your most successful form of marketing?
Keeping close to my customers has made all the difference. Each quarter I email out a Carman’s Muesletter telling Carman’s fans of our latest news. The last newsletter spoke about the exciting birth of my third child, Oliver, the introduction of our new muesli rounds into Australia, plus photo’s of Carman’s fans with Carman’s muesli boxes all over the world – the last one was at the Grand Canyon! Word of mouth is the very best marketing you can have.

14. In one word, characterize your life as an entrepreneur. Thrilling

15. Excluding yours, what company or business do you admire the most?
Lonely Planet- as it is such a strong brand, and a great Australian company.

16. How do you achieve balance in your life? By being in the moment.

17. Where do you see yourself and your business in 5 years? 10 years?
Continuing to grow, increasing our exports to become a strong international brand, being bigger, better and shinier!

19. If we could introduce you to anyone, who would it be and why? (you never know who we know!) Oprah. She is such a remarkable, smart woman.

Evan Carmichael

Name: Cameron Johnson
Website: CameronJohnson.com

Title: President
Industry: Internet
Year founded: 2002
Location: virtual
Number of employees: n/a

Cameron Johnson started his first business at the tender age of nine. By age 12, his company was selling Beanie BabiesTM over the Internet and he netted $50,000 that year. At the age of fifteen, he
became an advisory board member of a Tokyo-based company and published his autobiography in Japanese which became an instant best-seller.

At the age of 23, Cameron has founded and sold more than a dozen successful businesses and has been featured in more than 250 media outlets worldwide including Newsweek, BusinessWeek, the New York Times, USA Today, CNBC,  ABC, and MSNBC. He’s served as a consultant to several Fortune 500 companies and is a frequent speaker to a wide-range of audiences including corporate audiences, entrepreneurial boot camps, and even high schools and colleges.

1. What is the start-up story behind your business venture(s)?

Prime Visibility – www.PrimeVisibility.com
Title: Founder & CEO
Industry: Internet Marketing
Type of company:  Full service Internet Marketing firm
Year founded: 1998
Location: Long Island, NY
Number of employees: 45

1.    What is the start-up story behind your business venture?

I didn’t grow up as a techie and didn’t even have a computer when I graduated from undergrad in 1995.  When I attended law school in 1996 I spent 3 hours a day in class, two hours a day reading for the next day’s class and then 15 hours on the internet….I was simply amazed at the wealth of information available online and the power of my reach via the world wide web.

Of all the classes I took in law school, there is one in particular that truly changed my life…it was entitled “The Law of Cyberspace.”  For this class instead of writing a paper I built a web page, which resulted in an out-of-state lawyer contacting me about performing legal research for them….if lawyers would pay me to do research how about all the lazy college students out there?   And with that, in 1997 I started LazyStudents.com…..I needed a way to market LazyStudents.com which is how I got into internet marketing and search engine optimization…..back in 1996/1997 before Google, I was teaching myself how to optimize web pages so I can appear on the top of search results in Yahoo, AltaVista and Excite (the big engines of those days).  After a few months of self-education (really trial and error), I was able to get LazyStudents.com to rank on the first page of search results…this translated into 2M unique visitors a month a new business for me (GRIN).

I quickly finished law school (in 2.5 years instead of 3) passed the bar and practiced law for 8 weeks….then I started Prime Visibility.

2.    What is your definition of success and has your company achieved it?

Success obviously means lots of things to lots of people….as it relates to Prime Visibility, I would define its success as being a nationally recognized leader in Internet Marketing as well as profitable.  I would say that Prime Visibility has achieved success as we have been featured and recognized as Internet marketing experts throughout the media including Fox Business, A&E Biography Channel, The LA Times, iMedia Connection, New York Newsday and many others….Prime Visibility has also made the BtoB Magazine list of Top SEM companies in the US for the past seven consecutive years.

On the profitability side, Prime Visibility has been profitable since its inception in 1998 and in 2007 & 2008, Prime Visibility made the Inc list of Fastest Growing companies in the US.

3.    To what do you attribute your company’s recent achievements?

I attribute passion and perseverance to Prime Visibility’s achievements.  Many Prime Visibility team members are extraordinarily passionate about the company and its future; moreover, delivering internet marketing services that exceed our clients’ expectations has been instrumental to our success.  It is not uncommon for our Account Managers and Dept Heads to communicate with clients (and each other) after “normal” business hours as well as the weekend….this perseverance exhibits that we do what it takes to deliver value to our clients.

4.    How important have good employees and team members been to your success?

Having great team members has been instrumental to our success; without them, we would not be where we are today.  I learned well over a decade ago that I cannot do everything by myself and MUST let go and delegate to others….

5.    What three pieces of advice would you give to aspiring entrepreneurs?

I would suggest that aspiring entrepreneurs surround themselves with “best of breed” talent; ALWAYS make sure that revenue exceeds expenses and don’t be afraid to admit what you don’t know.  I would also suggest that aspiring entrepreneurs become avid readers and read books that will help them succeed in life and in business.

6.    What have been some of your failures, and what have you learned from them?

I have painfully learned that I cannot do it all and spreading myself too thin is more damaging then I realized….something along the way WILL suffer.

7.    Describe/outline your typical day?

I have three boys (ages 7, 5 and 2) – as soon as my kids wake up around 5:30/6AM I am in the office within 30 – 45 minutes….with 45 people and over 150 clients, a lot of my day is spent in internal meetings or on client phone calls….my strengths are in marketing so I try to make the time to focus on the marketing efforts of our clients.  I put in a FULL day from 7 AM to easily 1AM….I get home around 7:30/8pm – have dinner with my wife and catch up on the day’s activities then go back to work once everyone in my house is sleeping (usually by 9:30pm).  I get a lot of work accomplished late at night when it is my “quiet time”.

8. Where did your organizations funding/capital come from and how did you go about getting it?

To make a VERY long story short, I was practicing law before I founded Prime Visibility.  While I was prepared to start the business myself with no financing, the partners at the law firm talked me into partnering with them.  Essentially, for a minority interest in the company, the law firm more than doubled my salary and that was the start of Prime Visibility.  To be honest we really bootstrapped the company from its inception, it was just my salary that was guaranteed and enabled me to build a solid foundation.

9. What stops you from throwing in the towel and giving up during those frustrating days of running your business?

My passion and belief in the future of Internet marketing is what keeps me from throwing in the towel  There were MANY, MANY times when I was short on payroll by $20k+ and my stress levels were certainly being tested; however I persevered and made it work.  It’s easier said than done now that I look back at those times….and I certainly don’t miss them!

NOTE – I sold the company at the end of 2007 so while I am still the founder & CEO running the company; I have A LOT less stress with our investors involved….

10. Do you believe there is some sort of pattern or formula to becoming a successful entrepreneur?

Yes, believe in yourself and don’t give up!  It’s also OK to ask for help…..

11. Who has influenced you most and been your greatest inspiration?
12. What book has inspired you the most?

I have read 2 books which I wholeheartedly believe changed my mindset and my future:

Secrets of the Millionaire Mind by T. Harv Eker and also The eMyth Revisited by Michael Gerber

13. How do you go about marketing your business? What has been your most successful form of marketing?

Being that we are in internet marketing, we get lots of leads via the internet; however 85% of those leads cannot afford us (average client spends $8k a month with us)….the best marketing has been my appearances on A&E Biography Channel and Fox Business…we also get a tremendous amount of referrals, which says a lot about the service we deliver to clients.

14. In one word, characterize your life as an entrepreneur.

Exhilarating

15. Excluding yours, what company or business do you admire the most?

Google and Apple – their creativity and culture are extraordinary.  I always say to team members: “The moment you wake up in the morning and don’t look forward to coming into the office is when I have failed you”
I  admire the dedication and passion the team members of Google and Apple devote to their companies and their respective company missions and abilities to give back to society.

16. How do you achieve balance in your life? Or do you?

I try to achieve balance in my life by not sleeping…in all seriousness, before I sold my company I was in the office 6 days a week and a 24/7 owner; today I rarely go into the office on the weekends and make sure that I get home more often to see my family before they go to sleep.  Success means many things to many people; to me it is the ability to wake up each morning and chose on a day to day basis what you want to work on….

17. Where do you see yourself and your business in 5 years? 10 years?

In 5 business my business should be much larger in terms of revenues (at least 4X current level) and larger in terms of offerings as a digital marketing platform.  Our parent company, PV Media Group is looking for acquisitions on an ongoing business and we are making our portfolio of offerings much more attractive.

In ten years – wow….I’ll be 46 in ten years and my boys will be 17, 15 and 12…..I hope I am in good shape in ten years and financially secure…

18. What’s your exit strategy?

Keeping in mind that I sold my company one year ago (that was my exit there) and am still running it as the CEO, with a four year earn out, this is something I still contemplate…will keep you posted!

19. If we could introduce you to anyone, who would it be and why? (you never know who we know!)

I would love to meet some of the great direct marketers and authors that have inspired me such as T. Harv Eker, Michael Gerber or Jay Conrad Levinson.

Evan Carmichael

Yanik Silver and Monster Garage’s Jesse James in front of Jesse’s muddy dune buggy during a 6 day ‘business trip’ to the Baja in Mexico.  Yanik brought in Jesse to teach CEOs and other members of Maverick Business Adventures.

YE co-founder Adam Toren recently interviewed Yanik Silver. Here is the full interview:

This post comes thanks to YE co-founder Adam Toren.

In my post last week on 20 Ways To Bootstrap Your Business, my #19 suggestion to bootstrap your business was to Hire Friends / Family.

A couple of you commented that hiring friends and family was not a great way to go.

YE Blog Reader soo said:

Great article, except I’d have to say that hiring friends and family can be disastrous.  I have a personal policy of not getting any of my friends or family involved in my entrepreneurial efforts.

Hugh from Outsource Survival also commented:

I agree with the other comment… friends and family are dangerous options and should really only be a last resort. If it all goes pearshaped you could be left with no business, no money, and a broken support network when you need it most.

I’ve already discussed why you should hire friends and family (6 Reasons Why You Should Hire Your Friends / Family). Today I wanted to write about how you can make it work if / when you do hire them.

1. Think About Their Personalities

How do you get along with them? It’s easy to be relaxed when everything is going well but have you been through a stressful situation with them? How did they act? Running a business always comes with a set of giant challenges and you’ll need to work well together to get through them. If they stress out, get angry, overreact, and are extremely emotional when faced with problems then they likely are not a good fit for you.

2. Make Sure They Have A “Can Do” Attitude

I’m a big believer in surrounding yourself with people who have a good attitude. It’s your business and you get to pick who you bring on board, so why not get people who support you and make you happy? You’ll need people who believe in themselves and are willing to step outside of their comfort zone. Everyone in a startup business will need to take on additional responsibilities because you never have enough help to go around. If your friend or family member does not have a positive attitude then it’s best to find someone else.

3. Look At Their Skills

Many entrepreneurs tend to surround themselves with people who are like them. This typically leaves a company with big holes in their management team. For example, if you’re a computer programmer, get someone who can do sales and marketing. You don’t need three programmers and nobody selling – that’s a quick recipe for disaster. Don’t bring a friend or family on board because you like them and think they will work hard. Make sure that it makes sense for your business and that you actually need their skills.

4. Keep Communication Open

It’s easy to take a friend or relative for granted and walk all over them. Likewise they might do the same to you! What I’ve always done is set aside time every quarter to talk with everyone on my team (family members included) to ask what they like, don’t like, and what we can do better. I do it on a one to one basis and usually get out of the office. Talking at a coffee shop makes people relax a little more and they’ll tell you the truth. I’ve had to let friends and family members go but it was always a mutual decision and neither party left upset because we kept the communication open.

5. Don’t Make It Only About Money

Sure everyone wants to make money but if money making is the only goal of the friend or family member that you’re thinking of hiring, turn them away. If they care more about money than about your relationship then it will never work. You will constantly be fighting about the direction to take the business and you’ll end up resenting each other. People get greedy when there is money on the table so if you notice a change in the relationship, make sure you bring it up in a discussion before the problem gets too far along. Kill King Kong while he’s still a baby – don’t let the problem get so big that it consumes the company.

6. Identify Who Is The Boss

Somebody at the end of the day needs to be in charge. This should spelled out at the beginning. If you’re hiring someone as an employee then it’s easy – you’re the boss. But if you’re bringing someone in as a partner you need to make clear who is the President and will have the final say over important issues.

7. Treat Them With Respect

This applies to any person who you bring on board in your business and it’s surprising to see how many entrepreneurs treat their employees as verbal punching bags. If you yell at employees, criticize them in front of their peers, and don’t treat them with respect then you deserve to be shunned by them.

8. Let Them Make It Their Own

I give everyone who works for me a personal project that they find interesting and also ties into my business. This can be a useful exercise for a friend or family member who is joining your business but also wants to make their own mark. You can even explore revenue sharing or a bonus system if their personal projects can be tracked against revenue growth.

9. Get It In Writing

Just in case it doesn’t work out you should have everything written down. Give them guidelines as to what your expectations are. Have a clear job description for them. Make sure they understand how much you are going to pay them and when. If they are earning ownership in the business, make it clear how and when they will get their shares. Set goals with them in advance of them joining so they know what they signed up for.

10. Do A Trial

Suggest that your friend or family member comes to work for you for a month. Let them experience what they will be doing on a day to day basis. The excitement of the first week will wear off and they’ll get to really get a feel for what they’re in for. Agree to meet after the month is up and see if it’s still a fit for both of you. This way if it doesn’t work out you’re not carrying someone along for months until the point where you explode, fire them, and say things that you’ll later regret.

11. When In Doubt, There Is No Doubt

This is one of my favorite lines from the Robert DeNiro Movie “Ronin”. If you’re in doubt whether you should hire a friend or family member or not then you already have your answer: don’t do it.

Evan Carmichael

In a recent Entrepreneur University post, YoungEntrepreneur.com blog reader Bob Foster asked about how to make important cash flow decisions.

Therefore for this edition of Entrepreneur University we turn to Madhavan T Gopalachary. Madhavan is an independent management consultant who has nearly 35 years in the corporate world.

Today Madhavan discusses the importance of cash flow management:

“Customer satisfaction, Employee satisfaction and Cash flow are the three most important indicators for a business – Jack Welch

Many enterprises try to take good care of customers and employees but often fail to take good care of cash flow. In some organizations, the receivables run into more than 90 days. As a rule of the thumb, any receivable above 120 days can be classified as a doubtful debt. This problem is more in the case of SMEs and organizations that compete on low prices. I have often found many sales people shy to ask for the payment after supplying the material or providing the service. I have even found some of them apologetic and afraid to ask for it, which is amazing.

If a company has positive cash flow, then there is no problem except to identify where to invest the excess cash surplus. You must ensure that the investment can be quickly encashed when necessary. In the case of negative cash flow, the problem is very serious. You can’t pay the bills and wages in time. You may not be able to borrow beyond a certain limit. One starts borrowing from Peter to pay Paul at higher interest rates. Soon the whole world comes to know about it. Ultimately, one goes broke. The major cause for bankruptcy is inadequate cash flow rather than a loss in operations.

However, negative cash flow doesn’t necessarily mean disaster or mismanagement. A rapidly expanding company will require large cash flows to finance new projects, R&D and other investments. Some companies have seasonal cash flow. In lean periods such companies may not have adequate cash flow. The main danger is when the short term borrowings or current liabilities become too high to be met by current assets. That is the current ratio will be below 1. Such companies are ‘Technically Insolvent’, even though they may be making profits on paper. Many good companies do prepare a projected cash flow statement and compare them with actual cash flow but it is largely said than done.

Please do not assume that SMEs only have cash flow problems, but it is no doubt, a major problem for them. However, the giant Lockheed Corporation was bailed out by US Government because it went overboard on its Tristar project and Mr. Lee Iacocca was given a loan by the US Government to save Chrysler more than 2 to 3 decades ago. Both became the biggest turnarounds in business history.

There is nothing esoteric about cash flow. It is very simple. You must have a regular and steady income. You must plan and budget your expenses and spend less than your income so that you will always have some reasonable surplus at the end of the day. Unfortunately, to quote Mr. Robert Heller ‘ Like good health, a positive cash flow is something you’re most aware of when you haven’t got it. That is one of the most profound truths in life.”

Is there a topic you would like to learn more about for the next Entrepreneur University? Leave a comment below and we’ll try to find an expert to discuss your topic!