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 […]
Expenses
5 Ways to Tackle Debt in Anticipation of a Large Purchase
Investing money into a large expense, such as opening a business, can seem impossible if you have any sort of debt. Lenders may require your debt to be paid off in order to finance these types of expenses. Fortunately, if you need to finance a large purchase or expense, you can take several steps toward […]
Top 5 Necessary Investments for Your SMB
When it comes to making investments in your small or midsized business (SMB), you know you need to spend wisely. After all, you’ve only got so much cash on hand. As the marketplace evolves, though, you may not be sure where to put those hard-earned dollars. Here are five necessary investments most SMBs should consider. […]
10 Best Cost Cutting Ideas for Small Businesses
There’s no point in sugaring coating this: running your own business is hard. Very hard. According to FastCompany, after the first 5 years, only about half of all small businesses in the US make it to the 6th. Small businesses are constantly squeezed by increased expenses, making controlling costs more important than ever. Below are […]
Contractor or Employee? 7 Things to Consider Before Leaving Your Day Job
Being your own boss sounds great, right? Make your own hours, nobody to tell you what to do, no more office politics. While being an independent contractor, such as a consultant or freelancer, can offer many life-changing benefits over a regular day job, you might want to think twice before you take the plunge. Here […]
9 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 […]
5 Useful Accounting Tips for Small Businesses
Unless an individual is an accountant or really enjoys working with numbers, then accounting is not a favorite task. Nonetheless, adopting certain good habits in the early stages of your small business can assist in averting major ones later on. After completing incorporation of your new small business, it is essential to have processes and […]
Understanding How/What to Outsource: What Makes the Most Sense
You already know that building and growing your business can be a challenging (albeit rewarding) experience. Your time and effort built your business, but making the most effective use of these two resources means that, once you’ve reached a certain level of success, you’ll probably find it’s neither practical nor desirable to handle all the […]
The Top 10 Self-Employed Tax Questions and Answers
A lot of us fancy having our own business. The idea of being your own boss is quite a strong motivating factor. But there is no denying the fact that you have to take care of most of the factors in self-employment. Here are the top 10 tax related question for self-employed individuals along with […]
Why It Is Important to Keep an Eye on Your Cash Flow
If profits are up and the projections look good for the next month or two, should you kick back and relax? Maybe not. No matter how positive other signs may be, if you’re not keeping a close eye on your company’s cash flow, things could go haywire. Even a temporary crunch resulting in late debt […]
