I was tooling around the internet and came across an excellent resource for anyone struggling to put together their business plan. Funding Universe has published a huge list of samples that will get you started.
I looked through a number of these and yeah…it’d be a huge temptation to swap out your name on […]
Archive for the 'Finances' Category
Part 1 of my 10-part series Top 10 Mistakes Small Business Owners Make and How to Avoid Them.
Mistake #1: Small Business Owners Measure the Wrong Things
Peter Drucker once said, ‘If you can’t measure it, you can’t manage it.’
So as a business owner you’re faced with some tough questions.
What are the metrics that drive your […]
In this day and age, if you’re going to sell anything online, you have to accept online payments. From online payment services to tried and true credit cards, you have options that are tools to help your small business grow.
You ask: is it really necessary? Why can’t customers just call me? In a recent […]
If you’re running your own business, you are likely wearing numerous hats. Many business owners look to outsource some of the more critical tasks – or those they are not experts in – to professionals. When it comes to finances, unless you are a CPA yourself, it’s probably a good idea to find a […]
One of the frightening things about launching your own business stepping away from your corporate sponsored 401k plan. Historically, the options available to small business owners for tax deferred retirement savings have been minimal.
But now, new options are available in the form of the “solo (or, one-person) 401k plan.” In the article below, we’ll […]
We’ve talked a lot about the pros and cons about working from home. As a small business owner, you either started out at home and/or you’re still there. But for some, it might be time to consider making a move out of the extra bedroom to their own office space – even if it’s […]
We’ve all been there – we swear we are going to make a reasonable, manageable and livable budget. And then we swear we’re going to live by it. Forever.
But the best laid plans of mice and men…
When we don’t live within our budgeted means, we feel as if we’re being attacked. In fact, however, […]
No matter what the size of your business, one truth remains: cash flow is king. It’s the lifeblood of your business. Yet, while most small business owners know this truth, many still struggle with basic cash flow definitions, fundamentals or management strategies that actually maximize benefits. In today’s uncertain economy, characterized by frequent market fluctuations and ever rising interest rates, many small businesses with limited financial knowledge are struggling to stay alive, let alone thrive.
So why is poor cash flow management such a large killer of small businesses? Here are the two main reasons:
You can have the most unbelievable service or product in the world, but if you run out of cash, it won’t matter. All of the hard work, planning and strategic thinking that went into creating and launching your business could easily be erased with poor cash flow management habits.
Simply put, there is no better time than now to get your cash flow reality in check.
Starting a business takes time, hard work, and money. While time and hard work are usually in abundant supply for budding entrepreneurs, money is a common shortfall. Many experts advise aspiring business owners to turn to family members for seed money to start a new venture. Certainly, borrowing money from a family member can […]
So you’ve got a sound business plan and all systems are go. Now all you need are cash resources to get things going. Seems simple, right?
While shoddy management is cited most frequently as the reason businesses fail, inadequate or ill-planned financing is a close second. Whether you’re starting a business or expanding one, sufficient, […]
