In the age of easy credit, having cash on hand can often seem old-fashioned. I say beware of such an attitude. The old saying “cash is king” is as relevant today as it ever was, and as an entrepreneur, it’s imperative that you always have a significant cash reserve to keep your business afloat. […]
7 Ways to Manage Cash Flow
There are so many unique aspects to owning a business. While we can discuss all the ways in which you can gain and retain clients, it’s all for naught if you don’t know how to manage your cash flow in your small business. It’s important to understand the systems you should have in place in […]
5 Things Every Entrepreneur Must Do Each Day
Meditate– The worst thing you can do for your business is start each day in a race. I am strong believer in thinking about your day before you jump into it. I start each day in prayer before I leave my bed. I find that I am able to keep a positive disposition throughout my […]
The Importance of Bookkeeping For a Small Business
Accurate bookkeeping is a necessity if you run your own business. It may seem to be something of a chore but it’s vitally important that you keep track of your revenue and outgoings. Many businesses which would otherwise have been successful have been brought down by their failure to maintain proper financial records. Whether you […]
How to Get a Grasp on Your Small Business Finances
As a small business owner, you wear a lot of hats. Keeping up with every department, idea and project is hard enough. But when you add finances into the mix, running your business can become downright overwhelming. In spite of the confusion that swirls around finances, small business owners must stay on top of profit, […]
Do you have a Bank or a Banking Relationship?
Many business owners have a bank, but what you need is banking relationship. Entrepreneurs with a bank just make deposits and withdrawals. Business owners with a banking relationship know the branch manager, the business banker and the head teller at the bank they use. The business banker has seen your business plan and is aware […]
How to Prepare for Irregular Income in a Small Business
Owning a business is great. You have unlimited earning potential, get to be your own boss, and live outside a gray cubicle. It is the American Dream. Except when it isn’t. The dream can quickly become the American Nightmare when the bills appear faster than clients’ payments. It plays out as a vicious cycle, but […]