Browsing Tag
budget
18 posts
Award-Winning Finance Expert Shares 5 Financial Musts Before Jumping Into Entrepreneurship
So, you want to start your own business — in which you are your own boss and you’re in control of your professional destiny. You’re mentally ready to become an entrepreneur, but the question is: Are you financially ready? Making the leap from side hustler to full-time entrepreneur is a big move. Yes, you gain freedom...
Simple Ways Product-Based Businesses Can Increase Monthly Profits
In order to thrive, businesses must have a healthy bottom line. Have you recently taken a long look at your product-based company’s financials and realized that its overall profit is much lower than you expected? Even though your business is making a ton of sales every month, the numbers don’t lie — profits may be...
4 Ways Business Owners Unknowingly Drain Their Monthly Budget
As an entrepreneur, you likely have a set monthly budget that consists of all of the overhead costs needed to keep your enterprise running smoothly. For example, your budget may include payroll for employees and freelancers, payments for Internet service and cloud-based project management software, rent for an office space, etc. It is paramount that...
6 Ways to Keep Your Startup’s Finances Balanced Year-Round
Now that we are halfway into 2021, it is time to think about how you can further improve your startup’s operations to guarantee greater success in the latter half of the year. During this process, you will want to ensure that your cybersecurity measures are up to date, properly organize all of your old customer...
How to Create a Budget for Your New Startup
Some of the most groundbreaking products and services of the 21st century began as startups. Then, why is it that 90 percent of startups fail? While those launching a startup business may have a compelling concept or business idea, it’s difficult to develop stable, predictable cash flows without some financial structure and organization. Establishing a...
5 Frightening Causes of Small Business Failure
This time of year, ghosts and ghouls aren’t the only things that should be sending chills down your spine. As an entrepreneur, you need to be aware of how very real and serious the potential for small business failure is. "My business is fine," you think, and that might be true.Yet, consider: does anyone ever...
How to Balance the Books on a Shoestring Budget
When you're just starting up your business, every penny counts. You'd probably rather spend your already limited funds on marketing and growing your business, rather than on something as mundane as accounting. However, having a strong accounting process is the key to managing finances, and that means learning how to balance the books and maintain a...
Reviewing and Strategizing Your Startup’s Quarterly Budget
The first quarter of 2018 is almost over, which means it’s time to start reviewing your budget. Reviewing your budget on a quarterly, or even monthly, basis helps you understand where your startup needs improvements, where to scale back and where to invest. It also helps you better budget at the end of the year,...
How to Get a Loan for Your Small Business in 9 Steps
Applying for a small business loan can seem overwhelming. It’s hard to know where to begin, and the finish line can seem so far away. By following these nine simple steps, your dream of obtaining a small business loan is attainable. Plan, plan, plan! The first step in any new business is to work out a thorough...
Why Your Business Plan Doesn’t Have to Be More Than a Page
If you didn’t go to business school, the idea of drafting a business plan might make your head spin. You envision a 20-pound document with terminology you can’t understand that essentially lives at the bottom of a drawer gathering dust. That’s not useful, is it? The fact is: a business plan is what you make...
A Positive Way to Approach Startup Cash Flow Downturn
Every business goes through cycles. For instance, the retail industry knows to expect increased business and cash flow during the holiday season in the fourth quarter. Florists and jewelers gear up for Valentine’s Day and Mother’s Day. In cold weather and rainy regions, construction increases during spring and summer, with winter being a slow period. Accountants...
5 Steps to Budget Smartly for Your Small Business
Smart budgeting is one of the most crucial indicators of small business success. Determining where funds must be allocated and where they must be cut creates the entire blueprint for growth. It isn't easy, but there is a very simple, very sobering trick to good budgeting: plan for the worst. The worst will rarely happen,...
9 Tips for Women Who Want to Start a Business
Women entrepreneurs have become a strong force in today’s business world. Across the globe, many leading companies are now led by female entrepreneurs, many of whom already paved the way for aspiring women business owners. Before you start planning for your new venture, heed the following tips in order to start a business that will help you...
Financial Stress at Work: The Costs [Infographic]
A staggering 80 percent of American employees experience financial stress, and these financial troubles cast a wide shadow, often taking a costly toll on employers, as American businesses lose an overwhelming $300 billion per year due to stress. Poor financial health stems from a lack of good financial habits and knowledge. Fifty-six percent of employees...
10 Tips To Make Sure Your Financial Budget Will Succeed
Make sure your financial budget is on track for your business' success! You’ve analyzed your past expenses, put them into spreadsheets, loaded Quicken with all of your data and come up with a budget. Now what? The tough part! You actually have to stick to your budget and put your plans into action. This is...
Startup Budget: Don’t Make These Common Mistakes
Common Mistakes of Startup Budgets Even though startups are meant to focus on the creative work, they cannot escape that one thing, which always comes up whenever we talk about business: financial management. A good startup budget plan is in this case practically a deal breaker – not only because it plays a crucial role...
How to Measure “Lead Quality”
What's your lead quality? You hear a lot about lead quality these days. That's encouraging news. It used to be that when you talked about sales leads, the focus was always on lead quantity - getting more leads. High response rates always seem to rule the day, but at some point, marketers began to realize...
“No budget” marketing strategies
So many startups, so little money. No matter what size business you run you've got to make every dollar count. Simply throwing money at a problem is not a smart way to grow your customer base. But grow you must! You've got 2 choices: 1) guess 2) research Guessing is very fun. It's called the...