Posts Tagged ‘Financial Management’
5 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 More5 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…
Read MoreHow to Get Your Business Out of Financial Trouble
Any business can encounter problems. It happens. It doesn’t matter how big or successful you are, whether you are a startup, a big player or even if you rule the whole market place, things can go wrong. You might find yourself in a cash crunch, struggling to pay bills, or even payroll. It could be…
Read More3 Most Efficient Ways to Set Up Your Business’s Financial Systems for Success
Your financial system should be as precise as the grooves in a vinyl record. A solid financial system includes components like your accounting software, purchase approval process, receipt collection process, system for budget creation, and even your point-of-sale (POS) software. These are just a few examples; anything related to handling finances is part of your…
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 MoreIncome Shifting Strategies to Help Business Owners Become More Tax Efficient
This segment discusses different strategies that can potentially help a business owner become more tax efficient. Some methods include the restructuring of a business and establishing tax-deductible retirement plans. Synopsis The concept of characterization of income (or shifting of income) may result in the preservation of significant wealth. One method of shifting of income is…
Read MoreSolid Bookkeeping for Solid Finances
Don’t have time for keeping the books on your business? Better think again. Practicing good bookkeeping can make all the difference between a business that succeeds and one that flounders in the doldrums. Here’s how solid bookkeeping practices can help your business realize solid finances year after year. Solid Bookkeeping Keeps Your Business on Track…
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 MoreCan Big Data Help Cross-Border Remittances?
The overseas money transfer industry has seen considerable changes since the turn to the last century, mainly because of technological advances. Once the domain of banks and high-street forex brokers, it has witnessed the arrival of several FinTech companies. Where there’s FinTech, can the use of big data be far behind? Xoom, an overseas money…
Read MorePersonal Finance: Is It Worth It to Sell or Hold Gold Investments Right Now?
As an entrepreneur and business leader, you know that investing extra profits is the only way to keep your money. Period. With the price of the dollar decreasing, stagnant money equals draining money. Last year (2017), the average inflation rate in the United States was calculated at about 2.1%. This means, that as time goes…
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