Posts Tagged ‘Budgeting’
How to Deal with a Sudden Cash Crunch
It’s unfortunate but true: unexpected financial emergencies happen all the time to small businesses. Another unfortunate truth: most small businesses are not prepared to weather a prolonged financial emergency. JP Morgan Chase estimates that the average small business has 27 days of cash in reserve, while many small brick-and-mortar stores may have less than 20…
Read More3 Tips for Paying Off Multiple Debts
It’s not uncommon to have multiple debts. Most people have a mortgage and a car loan, along with credit cards, student loans, and personal loans. Having many forms of debt can make it a little harder to achieve the goal of becoming debt free. Which debt do you pay off first? How do you manage…
Read More5 Keys to Minimizing the Burn Rate for Your Startup
Cash flow is a basic survival metric for every startup. Investors check your burn rate to assess your efficiency, and project your remaining runway before you run out of money and into a brick wall. Don’t wait until you are almost out of cash before managing every dollar spent, or looking for the next refueling from investors. Desperate entrepreneurs…
Read MoreTips for Marketing Your Business on a Shoestring Budget
Starting your own small business requires sticking to a very tight budget in most cases. While your cash flow may be stretched thin, there are still methods for marketing your brand and products that won’t put you further in debt. By considering some of these suggestions, you may be able to promote your business more…
Read More5 Ways to Make Your Business More Successful in 2019
Success in the modern marketplace requires flexibility, planning and organization. Some ambitious entrepreneurs, unfortunately, believe that firing up a computer or opening a retail location is enough to start generating revenue. However, these go-getting industrialists soon find that running a business is more challenging than anticipated. With planning and patience, however, future business leaders can…
Read More8 Money Intelligence Habits Used by the Most Successful CEOs
Having good control of your finances as a startup, and even as a seasoned businessperson, is what really translates into success. No matter what happens, you never want to be lazy in that area. Wherever you are in your finances is where you are in your business. That means a successful startup requires you to…
Read MoreDon’t Ignore These 4 Basics to Spend Your Marketing Budget the Right Way
Companies allot a budget for marketing depending on how much they are willing to pay. Big companies invest in advertising because they know they will reap enormous benefits in the end. They are also capable of paying for ads, and they are willing to spend a lot of money. But advertising is not a luxury…
Read MoreTurn Your Vacation Fund into Investment Earnings, Not Expenses
In the past, there seemed to be only a few options for vacation destinations: hotels, motels, camping, and, since 1969, timeshare properties. Sometimes, vacationers may have been fortunate to stay with relatives in Florida or “borrow” a property from family or friends on the coasts or in major cities. But the reality was that most…
Read More9 Actionable Tips for Small Business Budgeting
Balancing a budget is rarely simplistic. But a business with a budget is a business with a goal. A budget gives your business guidance, clarity, and focus. It gives you the ability to know where your company is and what the future holds if each piece connects properly. The challenge, of course, is that you…
Read MoreDo This to Effectively Narrow Scope and Trim the Fat Off Your Next Development Project
Whether you’re a budding startup, a well-known enterprise, or anything in between, scope creep can be a serious problem, especially when trying to go from a napkin sketch to a working piece of software or mobile application. In any software or mobile app development project, it’s crucial to have a clearly defined scope of work…
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