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 […]
Tips 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. Understanding your accounting reports is essential in order to stay on top of business so you can manage your finances and make informed […]
Creating 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? […]
Business 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 […]
Sales 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 […]
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