Posts Tagged ‘Forecasting’
7 Steps to a Better Business Budget
Many business owners have some expectation of what their expenses and revenues will be in coming months, but most have not taken the time to put together and use a real budget. In order to better understand your business, and maintain good financial stability – a business owner should consider the following when developing their…
Read MoreTips To Keep Your Books Current & On-Point
According to a small business administration study, over 28% of businesses go bankrupt due to problems with the financial structure of the company, and in many cases this could have been avoided.[1] Understanding your accounting reports is essential in order to stay on top of business so you can manage your finances and make informed…
Read MoreCreating a Business Budget is Just About as Important as the Business Itself!
Think about it – when drawing out a plan of action for your business, you can minimize any unexpected cash flow issues, control spending, inform decisions in other departments, assist with financing applications and reduce overall risk. Here are 12 steps you can take right now to create a business budget. Research Costs – Why?…
Read MoreBusiness Budgeting 101
Just because you’ve opened a business, doesn’t mean you necessarily know everything you need to about how to run it, especially the financial aspects. No one teaches this! Unless you have a finance degree, I bet no one ever taught you how to read a cash flow statement or create (and manage) a budget. Many…
Read MoreSales Forecasting – How am I supposed to figure out how much I’m going to sell in the future?
One constant challenge I hear from small business owners is that they can’t forecast their sales. After all, how on earth are they supposed to know what’s going to happen in the future? I have two answers to this. 1) you won’t get it perfect, but that’s still not a good reason not to make…
Read MoreHow to Sustain Long-Term Business Growth
For your business to sustain long-term growth, you must understand what sets it apart from the competition. Identify why customers come to you with a product or service. What makes you relevant, differentiated and credible? Figure out what special benefit only you can provide. It is important to identify your ideal customer and continue to…
Read MoreBudgeting Your Business Finances
I know I talk about budgeting a lot. That’s because it’s important! First, let me distinguish between two different terms – budgeting and forecasting. Budgeting is planning the use of your financial resources month to month. Forecasting uses historical data, comparing it to the budget, and making predictions for the future. Both are very important…
Read MoreBudgeting for SEO – with Guest Blogger Sharon Arena
By Guest Blogger: Sharon Arena of Salty Red Dog Marketing, LLC Running a small business is not easy. Most small businesses have limited resources and extremely tight budgets, especially when it comes to sales and marketing. Search Engine Optimization (SEO) is best defined as the process by which the visibility of your website can be…
Read MoreFour ways to assess your business health
With the start of a new year comes promises to become healthier. There are plenty of ways to assess your physical health (weight, BMI, cholesterol, resting heart rate, blood pressure, etc.) Why shouldn’t we be looking at our businesses similarly? When thinking about the health of your business, here are four areas to review when…
Read MoreEnd-of-the-Year Checklist for Small Businesses
I love this time of year! Thanksgiving is my favorite holiday. It’s tempting to focus on holidays, traveling and family visits, but tend to forget about your businesses 4th quarter closing. Now is the time of year where your business needs your attention the most, especially when it comes to your finances. Keeping on top…
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