Authentic voices. Remarkable stories. AOL On Originals showcase the passions that make the world a more interesting place.
In a compelling series of verite encounters, Win Win provides unique access into the minds and lives of the world’s most-celebrated entrepreneurs and athletes.
Explore what it means to be human as we rush head first into the future through the eyes, creativity, and mind of Tiffany Shlain, acclaimed filmmaker and speaker, founder of The Webby Awards, mother, constant pusher of boundaries and one of Newsweek’s “women shaping the 21st Century.”
Nicole Richie brings her unfiltered sense of humor and unique perspective to life in a new series based on her irreverent twitter feed. The show follows the outspoken celebrity as she shares her perspective on style, parenting, relationships and her journey to adulthood.
Comedy is hard, but teaching comedy to children is hilariously difficult. Kevin Nealon is giving the challenge to some world-famous comedians. As these young minds meet with comedy’s best, get ready to learn some valuable comedy lessons, and to laugh!
James Franco loves movies. He loves watching them, acting in them, directing them, and even writing them. And now, he’s going to take some of his favorite movie scenes from the most famous films of all time, and re-imagine them in ways that only James can.
The story of punk rock singer Laura Jane Grace of Against Me! who came out as a woman in 2012, and other members of the trans community whose experiences are woefully underrepresented and misunderstood in the media.
Executive produced by Zoe Saldana (who will be the subject of one episode), a celebrity travels back to their hometown to pay tribute to the one person from their past (before they were famous) who helped change their life by giving them an over-the-top, heart-felt surprise.
Enter the graceful but competitive world of ballet through the eyes of executive producer, Sarah Jessica Parker. This behind-the-scenes docudrama reveals what it takes to perform on the ultimate stage, the New York City Ballet. Catch NYCB on stage at Lincoln Center.
Park Bench is a new kind of "talking show" straight from the mind of born and bred New Yorker and host, Steve Buscemi.
Go behind the scenes with some of the biggest digital celebrities to see what life is like when the blogging and tweeting stops.
Digital influencer Justine Ezarik (iJustine) is back. After covering the world of wearable tech last season, iJustine is expanding her coverage this year by profiling the hottest tech trends across the country.
Documentary shorts conceived of and directed by famous actors. Jeff Garlin, Katie Holmes, Alia Shawkat, Judy Greer, and James Purefoy
A 12 episode documentary series following 5 startup companies competing in the 2013 San Francisco TechCrunch Disrupt Startup Battlefield as they fine tune their products and eventually present in front of a panel of judges in hopes of winning $50,000 in funding.
Jim Schell explains how to make changes in your business based on the numbers
Tags:How to Make Changes Based Upon Numbers,business tips,cash flow statement,gross margin,hattie bryant,increase price,increase productivity,jim schell,profitability,small business advice,small business school,understand financial statements
Grab video code:
This is an excerpt from SmallBusinessSchool
Male: Your gross margins too low at 25% you know that. So there’s only two ways to improve it. Number one is to be more efficient at the manufacturing part. The second is to increase your prices. And where is the leverage for you? Which one of the two is the direction you need to go?
Female: Well in our case, fortunately we don’t really have very much competition and so we have raised our prices.
Male: If you only make a 25% gross margin you have to raise your prices.
Female: Well we’ve created like what we call bid sheet and we put in the estimated cost of labor, estimated cost of the materials and we have a formula that we’ve created with our CPA for approximately you know how much more we need to add to that to cover overhead and taxes and things like that.
Male: My guess would be that is you do those quotes that you generally plug in more than 25% profit.
Female: In the end
Male: In the end it doesn’t there so something is wrong with the job causing right?
Female: Yeah, what has been—
Male: The gross marginal is 25% what should it be?
Female: I don’t know. I mean all I know is that the bottom line sure needs to be a lot higher than this.
Hattie: Cash is king for us business owners and it’s the cash flow projection part of our financial statement that forecast our cash needs.
Male: We talk about profitability now we’re talking about cases. Someone went said that profits are what you pay taxes on, cash is what you take home. So cash obviously measures what’s in your bank account. What’s in your savings account or whatever and what is more important what you pay taxes on or what’s in your bank account.
Hattie: What’s in your bank account?
Male: So we need to track that.
Hattie: Help us understand the factors that play into the cash flow statement information.
Male: Okay well firstly there’s the profitability of your business is a generating profits which in turn hopefully well translate to cash. Is it—are you turning you accounts receivable? Are you turning you inventory? How much are you spending on equipment furniture and fixtures and what have you and how often do you pay your bills? Your accounts payable, are you paying them on time? A lot of the cash transactions are not on the PNL. For instance if you buy equipment that goes to the balance sheet but it doesn’t go to the PNL.
Hattie: Okay right.
Male: When you buy inventory it doesn’t go on the PNL it goes on the balance sheet. It all sucks up cash. So the cash flow statement measures what the PNL doesn’t which is the inflow and outflow of cash.
Hattie: How did you project cash flow before and how are you doing it now?
Male: It was a two part system and it did not—it was hard to work.
Hattie: It was bulky and so your part maybe just didn’t bother to do it.
Male: We did it but it just took a lot of extra time. We can take our employees time and materials and create an invoice directly in the software. This seems like it has made us more efficient and cut out a few steps on way we did it before. Now with our integrated system, our efficiency level has gone way up which is been a faded dark bottom line for sure.
Male: When someone like me goes into a business will ask I’d like to see your accounts receivable aging. How quickly are you being paid by your customers and then lets go to your accounts payable aging. How quickly are you paying the folks that you depend on for their products?
Male: Hopefully you generate an accounts receivable aging which will show you as the word denotes how many—what your receivables are from 1-30 days. What they are from 30 to 60, 60 to 90 you get that report and then you focus on keeping the percentage of receivables over you picked up a date but you generally most companies—it will be 60 days.
Male: So one of the first thing you’ll always ask them when somebody has received his cash flow problem is how much your receivables over 60 days and if they say I don’t know, then you know what the problem is right now. They’re not generating the correct reports if they say I received over 60 days or 25% you know what the problem is. On the other hand if they say its over 1% that tells you something too. We got to go some place else.