Who do you know that can make money for their enterprise without first investing time, energy, and cash into providing their service or producing their product?
Since most businesses require some type of investment to get started and since few people just have thousands of dollars sitting around waiting to be invested, the money needed to finance a company often has to be borrowed.
Although business debt is often what we leverage in order to begin or expand our business it’s something we have to manage wisely if we want to ...
Below are several small business finance topics covered recently at Entrepreneurs Money.
Managing Expenses In order for your business to be profitable you have to figure out how to minimize your costs and have capital on hand to help you grow. Every dollar you save in expenses is a dollar you don’t have to earn to cover costs. The lower your expenses, the more quickly you can become profitable. This week, Entrepreneurs Money took a look at managing insurance expenses by finding affordable health insurance coverage for your business.
Tax Payments One of ...
Why is it so difficult to get things started?
One of the biggest obstacles to starting a new business, product, or initiative can be building up the momentum to get it off the ground. One thing’s for sure, your venture will never be successful if you don’t start it.
Although maximizing profits is your goal, you can’t expect every new product or business to be profitable from day one. Have you heard the phrase
“Ready, Aim, Fire”
My business coach uses an adaptation of that phrase that is useful at overcoming inertia and launching tests ...
Did you know that you can leverage your tax liability into an asset? Yes, you still have to pay the taxes you owe but if you put them on your American Express Business card you can earn about one reward point for each dollar you pay in taxes.
American Express has partnered with Link2Gov and Official Payments to offer you the ability to pay your taxes with your credit card. When you use a card like the Business Gold Rewards card, not only do you earn points for the dollars spent, you also get ...
If you could find a way to spend less time doing the day-to-day work in your business and simultaneously increase your profits, would you take advantage of it?
Of course, what small business owner wouldn’t jump at this chance?
Unfortunately, while it sounds good to many of us, the discipline and time required to delegate work and responsibility often times stops us from hiring help. Although it would allow us to be less tactical, more strategic, and as a result more profitable, outsourcing tasks often times does not happen.
The Entrepreneurial MythMichael Gerber documents ...
How much money is your business going to make today, this week, this month? Do you have income projections and goals for your small business?
If the answer is yes, stop reading and go do something else productive with your time.
Did you answer no? Saying no to income planning is basically saying no to money. What do you think? Is it smart for any small business owner to say no increased profits?
Although it may sound a little silly when worded that way, not setting income goals for your business is ...
Many small business owners spend a lot of their time looking for ways to grow their business by expanding. Expanding can mean things like offering new products, coming up with new services, attracting more customers, or building additional partnerships.
What we often overlook is that our existing products, services, customers, and partnerships frequently have more left to offer our business that we’re not tapping into. As entrepreneurs we constantly have our mind on growth and new ideas which tend to lead us away from maximizing the benefits of our current business.
Optimize ...
We’ve decided that launching a business isn’t just throwing money away, it’s an investment in your future.
So the next question is how much will it cost you to start your own business? Startup costs are one of the first barriers to entry that discourage potential entrepreneurs from ever taking that first step. We all know how it feels. It’s hard to risk money up front without really knowing if you’ll earn it back.
The good news is, if you’re building a small home based business then startup costs are significantly lower ...
Where can you learn about Financial Management, Startups, Sales & Marketing, Productivity, Mobility, & Security from some of the top experts in their field at no cost?
Visit the Small Business Summit hosted by Microsoft, March 24 – 27th. Some of the sessions that will be addressing small business finance are:
How small businesses can navigate the ups and downs of the economy
Discover accounting software that's intuitive, powerful, and affordable
Put your business and your life on a sound financial footing
Financial management software can lift your business to the next level
Financial solutions that work for a ...
No one likes to lose money, so "the smartest $1000 you’ll ever lose" probably sounds like the dumbest phrase you’ve ever heard. Putting your money at risk makes your knees weak and your stomach drop.
Unfortunately, with any type of investment, you have to take on some type of risk in order to grow your money. If you didn’t, then we’d all be investing every penny and we’d all be millionaires, right?
Starting Your Own BusinessSo back to how losing $1000 could be the best thing to ever happen to you. I’m ...