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 […]
Financial Management
3 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 […]
8 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 […]
Income 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 […]
Solid 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 […]
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 […]
Can 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 […]
Personal 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 […]
Bad Business Practice: 5 Things Entrepreneurs Do Wrong
When entrepreneurs hang out their shingle and open their doors for the first time, their heads are bursting with pressure. They are pulled in many directions and pushed by many factors. Self-employed though they may be, they find themselves answering to agencies, vendors, and customers. Those first days can shape the business’s direction, and too […]
4 Keys to Successful Business Budget Management
Nothing about starting your own company is easy. Thankfully, when it’s just you and your partner, it’s fairly simple to monitor your spending and keep your budget in check. You’ll reach a point though where one person (you) clearing every expense is no longer efficient or feasible. It’s important to empower your leadership team to […]
