Posts Tagged ‘Expenses’
7 Key Elements of a Successful Crowdfunding Campaign
Crowdfunding can be an effective tool for accomplishing your startup goals. Whether you’re looking to jumpstart your marketing efforts, expand your customer base, or reach out to friends and family for funding, crowdfunding provides a platform to rally support around you and your company.
Read More 5 Essential Components When Planning a Startup Business
If you’ve been thinking about pursuing your very own startup business, there are a few considerations that you’ll want to keep top of mind. Although these components are not the most exciting aspects of planning a startup, they are essential to ensure the future success and sustainability of your business.
Read More You Must Hire Professional Consultants
Since many new entrepreneurial ventures are often started on a shoestring budget, where you spend your financial resources can be a prickly situation. When is the right time to get yourself legal help? Do you really need an outside person to do your books or can you do it yourself?
Read More Cash Is Time Is Cash
Here is a simple economic truth. Fixed overhead continues to eat into your cash month after month. It doesn’t differentiate facile, efficient businesses from slow, disorganized, quality-challenged ones.
Read More Avoid Rookie Mistakes
Far too often, new entrepreneurs make first year decisions that can put a major dent in the inaugural year of your new entrepreneurial venture. Even someone who has a lot of corporate experience cannot understand the firefight of being a business owner until you have to meet your first payroll.
Read More Can Customer Service Go Too Far?
While customer service is critical, it cannot be given away if the costs become prohibitive. I think the answer is to make sure that everyone understands the terms of a deal when they are accepted.
Read More 5 Steps for Calculating Your Startup Costs
You can’t create a realistic business plan without knowing how much it will cost to get your business up and running. If you don’t have an idea of your startup costs, you won’t know how long you’ll have to bootstrap, how much funding you’ll need, how quickly to scale. In other words, without calculating your startup costs, you don’t really know where you’re going—or how you’re going to get there. And your company could fail before you even hit the break-even point.
Read More 5 Ways to Brand Like the Fortune 500s
Branding can be daunting at the best of times. For small- to medium-size enterprises, budgets to address brand initiatives are just a fraction of what a Fortune 500 company may apply. If you’re anything like me, you’re constantly educating yourself on ways to fine-tune your brand.
Read More 3 Key Startup Jobs to Outsource
If you’re running an early-stage startup, chances are there are some knowledge gaps in your core team. You may be strong on the technical side or a product whiz, but what about financial strategy, administration, HR? Are you prepared to manage the day-to-day of your startup, from recruiting new talent to bookkeeping to financial planning?
Read More Profit Is Not Cash
Each month, your profit and loss statement tells you whether you earned a profit or had a loss. It does not tell you how much cash you have. You must turn your profits into cash by collecting your receivables and paying the expenses incurred to produce those revenues.
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