Browsing Tag
budgeting
13 posts
7 Tips Every Startup Should Follow to Maintain Financial Health
Nothing spells disaster for a startup like poor financial health. Whatever the industry, however great the idea, if the numbers just don’t add up, there will be little recourse to get things back on track. Even if a business is still above water, any uncertainty over the numbers can destroy investor confidence and jeopardize strategic...
5 Ways to Make Budgeting and Strategic Borrowing Easier
Over the nearly 40 years I’ve either owned or otherwise worked in a small business, I’ve observed that even businesses that might not be considered “seasonal” in the traditional sense ebb and flow over the course of the year, creating times when capital becomes tight and the cash flow pinch can cause an otherwise healthy...
5 Ways to Measure the Financial Health of Your New Business
The slow build-up of debt can contribute to the eventual collapse of a business, and small businesses are struggling now more than ever. Over time, your company may show signs of trouble, eventually moving into a deeper state of financial distress. And if the early signs are not actively addressed, your business can quickly snowball....
Keep Your Startup Growing by Avoiding These Financial Pitfalls
You put a lot on the line when you start your own business. You’re committing yourself to long hours, hard work and a great deal of uncertainty. And if you’re expecting to brave the shark tank with a huge influx of cash from investors, think again. Venture capitalists account for only 0.05 percent of startup...
8 Steps to Make Your Startup’s Cash Flow Positive
Cash flow is the lifeblood of any business. Without cash on hand, you will be unable to pay your staff and your bills, invest in growth or buy raw materials to service new customers. Further, if you think that cash flow problems only affect companies with marginal profitability and poor prospects, think again: as your...
7 Practical Ways to Manage Cash Flow So Your Business Never Goes Broke
Probably the biggest killer of any business is that it runs out of money. Often, it's not even for lack of a good product, but lack of cash flow. It takes years of experience for an entrepreneur to understand how to manage cash flow well. Money masters and members of The Oracles share their top techniques for...
How the Recent Facebook Algorithm Changes Will Affect Your Startup
Entrepreneurs can’t ignore the influence of social media on finding business online. Having a presence on platforms like LinkedIn, Twitter and Facebook isn’t optional anymore—it’s a crucial part of establishing your startup's identity. In fact, over 50 million small businesses use Facebook pages to connect with customers online. Facebook has always been one of the...
This Sneaky Hack Saved Me $7000 (and Helped Me Build a Million Dollar Business)
I started my first company when I was six years old, selling fallen apples to keep the streets clean. I have always seen problems and created a solution, despite all the odds. So when it came time to get my fashion-forward, hygiene-focused clothing line, PantyProp, off the ground, I wasn’t going to let a little...
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,...
Want to Launch a Subscription Service Like Amazon Prime? Do These 3 Things First
With free shipping and the ability to read, shop and stream movies and music on your electronic devices, Amazon Prime's subscription service couldn’t be more spot-on about its membership offerings. Many entrepreneurs might see how successful Prime’s service is and want to emulate that success. But where do you begin? If you’re considering launching a...
How to Convert Your Side Hustle Into a Full-Time Business
Turning your side hustle into a full-time business often seems like a dream rather than reality. Ultimately, it takes a combination of luck, strategy and motivation to succeed. The average American works for dozens of years before retiring. What if you could take your future into your own hands? Self-employment is not for everyone, but...
Understanding Startup Finances: Cash Flow vs. Profit
When you hear that a business is “profitable,” it’s easy to assume that it’s smooth sailing when it comes to finances. However, profitability is only one measure of a business’s financial health. Without sufficient cash flow, even profitable businesses can struggle to make ends meet, and may even be forced to close shop. In this...
How to Build a Strong Safety Net as a Solopreneur
Running your own business is invigorating. You’ve got ultimate flexibility, and there’s no limit on what you can do, or how much you can earn. However, it goes without saying, being a solopreneur also means you must have a certain degree of comfort with the unknown. Where traditional employment brings some level of job security with...