5 Financial Warning Signs that a Business is in Trouble
Realizing that a business is in financial disaster is a nightmare for every business owner. Nothing is worse than waking up one day and realizing that your business has run out of money or, even more disastrous, that you are in deep debt. Every business runs into problems, but when finances start to get out of control and you’re unable to settle financial obligations, you need to act immediately. Never put these matters on hold. Like any illness, it is vital to identify the warning signs before it’s too late. Catch the symptoms early...
read more4 Hacks to Keep Business Expenses Low
Entrepreneurs and business owners know too well that business expenses can be crippling. For Start-ups who are trying to break even or businesses adjusting to the economic conditions if asked, what they would like help with, most would likely answer “how to keep expenses under control.” Funds are limited, especially for start-ups, but that shouldn’t restrict your progress. Realize early on that it is vital to make the most of your resources and curb your expenditures while finding ways to squeeze more from your available...
read more4 Personal Finances Management Tips for Entrepreneurs
As an entrepreneur, managing your personal finances is very important as you’ll be more aware of how your business venture is doing. Being able to make ends meet and keep your finances in order can seem like a challenging and complicated task, especially if you’re just starting up. Keeping your personal finances healthy ensures that you’ll be able to support your entrepreneurial journey. Take a look at these concrete guidelines on how to effectively manage your finances both at work and at home. 1.Track expenses Tracking...
read moreCommon Money Mistakes Entrepreneurs Make
Money and financial issues are absolutely the biggest pitfalls that some small business owners make. Your relationship with money changed when you started to become an entrepreneur. It is not the same as when your working and getting a salary. Now, just because you’re selling a product or providing a service does not mean you’re making money. Still, there are several things that you can do to avoid making huge money mistakes. By knowing the most common mistakes that entrepreneurs make, you’ll have the power to avoid them...
read more7 Money Management Tips for Entrepreneurs
Running your business requires plenty of essential skills. It takes more than just a good idea, time and energy to get things in the right direction. It means more than having a dynamite marketing campaign or successfully selling your products and services. One thing that drives your business to continuously move forward is money. It is one of the most important resources for the success or failure of your business. Your cash flow is the fuel that makes your business run smoothly. As an entrepreneur, you should have proper money management...
read moreCash Flow Planning for Solopreneurs
You’ve heard it a million times – cash flow can make or break a business. Lack of cash flow planning causes many businesses to fail, even profitable ones. Without adequate cash flow, you can’t pay your bills and you can’t grow your business. So, what is cash flow planning? It’s projecting your future cash inflow from sales, services, and loans, and comparing them to your future estimated costs (suppliers, salaries/wages, loan payments, taxes, etc.). The difference between the two is your net cash flow. Why is cash flow planning so...
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