7 Ways the Cloud Can Help Your Business Save Money (Infographic) It's be time to assess your spending and look beyond the books to identify inefficiencies and places your business could be losing money.

By Jen Cohen Crompton

Opinions expressed by Entrepreneur contributors are their own.

Pexels

Every small-business owner and entrepreneur knows that properly managing cash flow is a determining factor in whether a business flourishes or flounders. Therefore, it is essential that these decision-makers have a solid understanding of how money is moving in and out of their business.

But what happens when there is a noticeable disruption in the profit and loss statements and the realization that, for unknown reasons, the numbers are dipping in the wrong direction? It may be time to assess your spending and look beyond the books to identify inefficiencies and places your business could be losing money -- without anyone even realizing it.

Related: 5 Ways to Avoid That Jittery State of Panic and Uncertainty About Cash

Here are seven problems that could be causing your small business to lose money and easy ways to fix them:

success of old entrepreneurs(Infographic)

Related: 5 Free Apps to Help You Move Your Business to the Cloud

Wavy Line
Jen Cohen Crompton

Entrepreneur-in-Residence at The Neat Company

Jen Cohen Crompton, entrepreneur-in-residence at The Neat Company, has extensive experience with small businesses, including founding her own business, Something Creative, in 2008. Since joining The Neat Company, Crompton has worked as an ambassador to small-business owners and managers by offering thought-provoking insights into how they can work smarter.

Editor's Pick

She's Been Coding Since Age 7 and Presented Her Life-Saving App to Tim Cook Last Year. Now 17, She's on Track to Solve Even Bigger Problems.
Lock
I Helped Grow 4 Unicorns Over 10 Years That Generated $18 Billion in Online Revenues. Here's What I've Learned.
Lock
Want to Break Bad Habits and Supercharge Your Business? Use This Technique.
Lock
Don't Have Any Clients But Need Customer Testimonials? Follow These 3 Tricks To Boost Your Rep.
Why Are Some Wines More Expensive Than Others? A Top Winemaker Gives a Full-Bodied Explanation.

Related Topics

Business News

'All Hell Is Going to Break Loose': Barbara Corcoran Issues Warning About Real Estate Market, Interest Rates

The "Shark Tank" star appeared on FOX Business' "The Claman Countdown" this week.

Business Plans

How to Change Careers: A Step-by-Step Guide

Want to make a career change without compromising your finances or future? Check out this step-by-step guide on how to change careers to learn more.

Career

The Best Paying Jobs in Consumer Services

Are you looking for a job that pays well in consumer services? Check out this comprehensive breakdown to learn all you need to know.

Money & Finance

What Is Annual Income? Here's How to Calculate It.

Want to know how much money your business or personal budget brings in each year? Discover how to calculate annual income in this detailed guide.

Growing a Business

The Best Way to Run a Business Meeting

All too often, meetings run longer than they should and fail to keep attendees engaged. Here's how to run a meeting the right way.

Fundraising

Working Remote? These Are the Biggest Dos and Don'ts of Video Conferencing

As more and more businesses go remote, these are ways to be more effective and efficient on conference calls.