Debt can be a necessary tool that allows us to accomplish major dreams like getting a college education, starting a business, funding our first car, or purchasing a home. However, some consumer debts, like credit cards and personal loans, are sometimes the result of poor financial discipline and planning.
If you’re struggling with lingering debt and want to know how to get out of debt quickly so you can move on to bigger and better things, we've got you covered!
As a small business owner, you are (by no official definition) a unicorn! Your business origin story is unique, your leadership style is unlike others, and you solve problems and handle challenges in your own way.
So while we don’t want to discredit your uniqueness, we do want to point your attention to a common small business life cycle that most entrepreneurs experience. Knowing these stages can help you prepare for upcoming challenges, face current struggles, and be equipped with knowledge and skills for the future.
Read MoreDo you ever wonder why some businesses stay afloat in tough times, and other businesses fold even when things seem to be going well? A company could be revolutionary, have raving fans, and appear to be making a profit….and still not stay in business!
Usually, it’s not because a business is better, more popular, or successful on the surface. More likely, it comes down to effective cash flow management. According to research, 38% of startups fail because they run out of money.
Remember the old adage; businesses who fail to plan, plan to fail. By completing the steps in this year-end financial checklist, you can rest easy knowing that you’re creating a plan for success. You can’t improve what you haven’t measured, and this checklist will help you measure all the right things for year-end planning and improved forecasting.
Read MoreBoth new and seasoned business owners grapple with this problem every day, so you’re not alone. And luckily, there are things you can do to increase your business profit quickly and (relatively) painlessly!
Read MoreWhen you take the leap from employee to business owner, one of the most important things you need to consider is how you’ll pay yourself. Yet this is one area that new (and even some seasoned) business owners continue to struggle with.
Read MoreEssentially, there are three different professionals who can make your life easier when it comes to your business finances (there are more, but these three are the most common):
A financial business coach
A financial advisor who serves business owners
A bookkeeper or accountant
To choose the right professional for you and your business, you need to know what each professional specializes in, the services they offer, and how they can specifically help support your business financials.
Read MoreWell-done budgets can be so freeing. They can ultimately take a lot of the fear out of our finances.
Luckily, creating a budget for your business doesn’t have to be difficult or daunting. I’ve developed a simple five-step guide you can follow to create your own business budget right now and get more clarity on your business finances. Let’s get started.
Read MoreYou’ve made the leap, business is rolling in and one of the first questions usually is - “How much should I be spending on things like my website, advertising, social media, hiring experts, etc.? And also, when should I start doing that? At the beginning? After I have revenue? Take a loan? Use my savings?”
Read MoreThe average American family of 4 spends anywhere between $580 and $1300 on their food budget every month. And if you’re like most families, you spend that and then another $300-$500 eating out. This can often cause waste in the household groceries from the intentions to the actions.
Food is a common place we get caught up in spending….most people are either eating, wearing or driving their retirement, and in this case, I want to talk about when we’re eating it.
Read MoreProfit First is a life changing system for any business owner. Not just some, not just new businesses or small businesses or service based businesses or owners who don’t handle money well. Profit First is literally life changing for anyone who fully implements it in their business! Why? I want to dig into that below.
Read MoreWhen you start a business, you don’t realize the one million things that it will require of you. You simply think, I charge money for my service/product that I love and I make money! Voila!
But it doesn’t quite work that way….one of the most important things for business owners to understand and learn to manage is not just their revenue and expenses, but moreso, cash flow. So what is cash flow?
Read More
