Being laser-focused on your finances is an essential part of being an entrepreneur. It goes beyond simply having separate business and personal checking accounts. You’ll need to pare down your personal expenses as much as you can in the beginning stages of your small business, so you ensure you’re making enough money to keep your […]
BIG ANNOUNCEMENT: EIDL LOANS ARE BACK OPEN
The U.S. Small Business Administration (SBA) has reopened the online portal for businesses to request an Economic Injury Disaster Loan (EIDL) increase for up to $2 million. They are taking new applications too. The process is confusing, but that’s why I’m breaking it down. Shout out to my finance colleague Ami Kassar for keeping me […]
Mastering Your Money Mindset
It’s no secret that success in business is strongly dependent on your relationships, including with partners, vendors, industry contacts, employees, and customers. But the relationship most entrepreneurs overlook is the one that’s most likely to hold you back from financial success: your relationship with money. Money is simply a currency that customers exchange for your […]
8 Top Bookkeeping Mistakes Made by Small Businesses
Bookkeeping can be defined as the action of maintaining the financial records of a business. This seemingly simple work is very complicated and highly prone to errors. Small businesses experience challenging situations now and again due to the volume of their business. Apart from the lack of liquidity and tough competition, poor bookkeeping is another […]
8 Sales Tools to Help Boost Your Small Business Sales
As you run your business, you should constantly be looking for ways to improve your sales team’s productivity and efficiency. The goal is to increase your sales, but staying organized will improve your company as a whole. Let’s look at eight sales tools that I recommend to small business owners. When used effectively and properly, […]
Four Ways to Measure Profitability to Grow Your Small Business
The goal of any small business is to be profitable. But for the average business owner who isn’t well versed in determining the financial health of their business, how can they measure their profitability? While there are many different reports you can run, it can be difficult to know what numbers you should track. We’ll […]
How Zero-Based Budgeting Can Drive Growth in Your Business
A zero-based budgeting method includes building a new budget from the initial stage each time, beginning from “zero”. This budgeting method is different from traditional Budgeting, which involves looking at the past session’s budget and altering it as required. With the guidance from technological advancements, a reduction in manual labor is experienced with enhanced transparency, due to […]
What is Inventory Financing and How Does It Benefit Small Business Owners?
Product-based businesses know the importance of inventory. Without it, you wouldn’t have a business to run. Inventory keeps your operations going and your customers happy. But if you find yourself in need of additional business financing, did you know you can use your inventory as collateral to secure the capital you need? If your product-based […]
5-Steps to Getting Your Small Business Finances in Order
Small business finances are always a tough subject to tackle, as small businesses typically work on shoe-string budgets. The pandemic put a spotlight on how many small businesses don’t have a solid grasp on their finances or solid business finance processes in place. So, let’s look at the five steps you can take to get […]
How to Take Control of Your Money in 2021
This content is sponsored by Plastiq If you are trying to figure out how to help your small business increase revenue in 2021, it’s time to take a hard look at how money works in your business. After the ups and downs of 2020, one of the most important resolutions any business can make this […]
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