Budgeting Archives

Avoid These Top 5 Financial Problems in Your Small Business

By SmallBizClub | Dec 2, 2015

Managing a small business isn’t easy, and the single largest contributor to business failure is financial mismanagement. Making smart financial decisions and being consistent can make a world of difference to your business success. 1. The Terrible Effects of a Vague Business Plan It’s important to work in your business to keep things running smoothly,…

8 Key Rules for Starting a Business on a Shoestring

By Marty Zwilling | Oct 26, 2015

A few years ago, before the Internet was pervasive, before everyone carried a smartphone and before do-it-yourself software tools were available for free, it was difficult to reach a critical mass of new customers without spending a million dollars on a website, custom software and television advertising. Now you can match a big company with…

3 Ways to Improve Your Budgeting and Forecasting

By TaxConnections | Sep 16, 2015

Budgeting and forecasting are two of the most important financial exercises performed by businesses, regardless of their size. Unfortunately, they are also two exercises that many businesses fail to perform accurately or efficiently. The biggest common problem is that most budgets and forecasts are created without any room for flexibility. Managers are told at the…

7 Financial Facts Every Entrepreneur Should Know

By Tim Berry | Sep 10, 2015

You don’t have to be CPA or MBA to start or run a business. You don’t have to understand debits and credits, or be able to balance your books. But there are some financial facts you just plain need to know. Here’s a list. Related Article: 6 Essential Financial Tips for Small Business Owners Every…

Consider the Legal and Financial Aspects of Owning a Franchise

By Jania Bailey | Aug 28, 2015

As with any major investment, the best decision can be made only if you’re as informed as possible. You need to spend a good deal of time researching, interviewing and exploring your options—and a part of the process is determining what the legal and financial aspects are. As your focus gets more serious with the…

Bottom Up Budgeting Creates Waste

By Dave Berkus | Jul 28, 2015

Many people believe that bottom up budgeting leads to waste and misdirection. The advocates of top-down budgeting are strong in their belief that if you give each person or department no guidance, they will budget to their wants or specific needs, not to those that support a corporate goal. So, they argue: Give your people…

Budgeting to Stay Debt-Free

By SmallBizClub | Feb 13, 2015

Bad debt is the kind of debt that consumers accumulate, which they really can’t afford over the long haul. This is usually done without securing a viable asset.

Money Brain Junk: The Enemy Mindset That Might Be Holding You Back

By Susan Baroncini-Moe | Oct 8, 2014

Do you fear financial struggle? Ever wonder why your business never quite grows past a certain annual revenue, or why you worry about money? Well, of course it could be that your business isn’t well-branded, perhaps your business model needs tweaking, or you might just need some help choosing the right marketing strategies. But frankly, it could very well be your money brain junk that’s holding you back.

Create a Ten Percent Profit Model

By Dave Berkus | Aug 8, 2014

Most entrepreneurs, when starting to model their business operations using a spreadsheet, start with expected revenue by month. Then they calculate cost of sales, and then project their expenses, to find the bottom line profit or loss each projected month.

Cash Method for Small Businesses

By TaxConnections | Aug 5, 2014

On July 10, 2014, the House Small Business Committee’s Subcommittee on Economic Growth, Tax and Capital Access, held a hearing – Cash Accounting: A Simpler Method for Small Firms? Congressman Tom Rice opened the hearing noting that he is a former tax attorney and CPA.