Browsing Tag

profit

28 posts
scaling
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Scaling Your Bootstrapped Business: 3 Tips for Lean Entrepreneurs

Like most entrepreneurs, you have likely spent hundreds of hours developing skills to build your business. By the time you start turning a profit, you’re likely to spend thousands of hours and dollars trying out different business models and seeing what works for you. Many entrepreneurs who start turning a profit think that the hardest...
Profitability
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How to Boost Your Startup’s Profitability with This Old Improv Trick

Where does revenue come from? And how can we make more of it? When you’re building a business, everything comes down to these two questions. The more specifically you can answer the first, the more opportunities you’ll see to answer the second. To see the big picture, you have to get small. You need to...
financial planning
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10 Best Financial Planning Habits for Freelancers and Entrepreneurs

While 48% of new freelancers view freelancing as a long-term career choice, this is only realistic if you have a long-term financial plan. While freelancing comes with advantages, such as flexibility and independence, there are also plenty of drawbacks. You’ll need to cover your own benefits, build an emergency fund and plan around inconsistent income....
B Corp
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How Startups Can Achieve B Corp Status (and Why it’s Important)

The idea of starting and running a business for any reason other than profit may seem counterintuitive to some. But a growing number of businesses around the world are turning that idea on its head, and showing that business can — and should — do more. During 2020, a 23% growth in global submissions to become...
success more from less
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A Smarter and Faster Path to Entrepreneurial Success: Achieve More From Less

The following is excerpted from "Entrepreneur to Millionaire: How to Build a Highly Profitable, Fast-Growth Company and Become Embarrassingly Rich Doing It" by Kent Billingsley (McGraw-Hill Education, Feb. 2, 2021).  StartupNation exclusive discounts and savings on Dell products and accessories: Learn more here A smarter and faster path to entrepreneurial success Kicking off a speech...
startup fail
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4 Common Reasons Why Startups Fail (and How to Overcome These Obstacles)

Most startups fail—up to 90% in 2019—and unfortunately, more often than not, the founders themselves are responsible. Financial reasons are often cited as one of the most common factors for startup failures, and these are, of course, hugely important. I have also found, however, that there are often more personal reasons why startups fail. These...
affiliate program
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7 Questions You Must Ask Before Creating an Affiliate Program

Picture the following scenario: Your monthly recurring revenue numbers are beginning to look impressive, but you still want to gain more market share and increase your revenue in the next quarter - so starting an affiliate marketing program seems like a great idea. Retailers will spend close to $ 6.8 billion on affiliate marketing in...
cash flow
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What Entrepreneurs Need to Know About Cash Flow

If you are among the enterprising individuals in the process of launching or running your own business, this article is for you. You may already have your hands full with operating activities, staffing and continually improving return on investment (ROI). Now, if you could just wrap your head around this cash flow advice and apply...
paycheck
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The Power of Being an Entrepreneur Without a Paycheck

If you have small or nonexistent income, you are probably a new entrepreneur still in shock over the loss of your paycheck, or your business has launched but is in lean times. Or, perhaps you’ve established your idea but need to tighten up to grow. You are not alone, as most entrepreneurs have been here. Independent...
entrepreneurs
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A Tale of Two Entrepreneurs: Which One Are You?

Jennifer stands proudly with her management team at the New York Stock Exchange. Today’s the big day that she — and every entrepreneur — lives for. As the clock strikes 9:30 a.m., she rings the opening bell. Let the trading begin! She started her company just 6 years ago out of her parents’ garage, but...
profitable
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7 Steps to Turn Your Great Idea Into a Profitable Business

The world can always use more great ideas that foster changes and improve lives. But, what would be even better is if those ideas were turned into profitable businesses that provided a product or service for the benefit of others while helping the founder realize his or her dream. To do so requires knowing the...
buy
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How to Buy a Startup Business

Becoming an entrepreneur doesn’t always mean starting a business from scratch. In some cases, buying an existing business can be a much more appealing option. While the up-front costs of buying a business are greater on paper, Entrepreneur explains, the risk is lower because the business is probably already turning a profit. Buying an existing...
cash flow
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How Cash Flow Can Destroy Your Business (and How to Prevent It)

What’s the most important factor in keeping your business alive? You might think the answer is profitability; after all, as long as you’re making more money than you’re spending, you should have ample resources to keep your enterprise going. However, it’s possible to be profitable on paper and still come up with cash shortfalls, preventing...
point of sale
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Steps to Finding the Right Point of Sale System for Your Startup

A Point of Sale system or “POS system” is of the utmost importance for the vast majority of businesses. In fact, most businesses wouldn't be able to operate and make a profit without a good POS system. More consumers are using credit cards than ever before and the expectation of purchasing with plastic has long...
cash flow
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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...
Online business
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5 Steps to Purchase a Profitable Online Business

Technology has not only made many tasks easier in recent years, it has also paved the way for innovation and trends. Over the last few years, the growth of online shopping has affected the bottom-line of several brick-and-mortar retail giants.  In 2014, the online business industry was valued at $220 billion. It is estimated that...
revenue
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Top 2 Essential Strategies for Startup Revenue Growth

Perhaps the most fundamental question on every business owner's mind is, "How do I increase my revenue?" It's a question that can create anxiety, fuel determination or lead to even more questions. As plenty of research has shown, the health of your business impacts your personal health, quite literally. It's no wonder this topic stirs up...
Cash flow
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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...
Rich20Something
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How to Launch a Profitable Business in 24 Hours or Less

A few years ago, when I first started brainstorming different ways to make money for myself, I felt like taking a can of bright red spray paint, drawing an "X" on a concrete wall and smashing my head straight through it. Hopefully I would just hit a beam and put myself out of my misery. I...