When it comes to money mistakes there are a lot of factors to consider, but the number one obvious rule of thumb is that if you don’t start focusing on making wise decisions in regards to your money then you will inevitably increase the chances of making money mistakes. The good news is that if you have the time and discipline to make a difference, there are many straightforward ways to ensure excellent financial health and achieve your financial goals. What is most important is that you make a plan to avoid money mistakes and an effort to incorporate shrewd money decisions into your daily routine. Here are our top 3 money mistakes.Read More >
Every entrepreneur needs to raise capital at some point in time, as a business requires a large cash injection to get off the ground and even survive long-term. Crowd-funding, social media and other new avenues to getting media attention and capital make it is easier than ever to launch a startup, but investment capital has become increasingly competitive as a large sea of companies vie for the attention of angel investors and venture capitalists. Crowdfunding platformFundable reports that investors or venture capitalists fund less than 1 percent of startups, whereas 57 percent of startups receive loans or credit, and another 38 percent are financially supported by family or friends. The issue is not that investment firms don’t want to invest in startups, or that they lack the capital, overall the larger problem is that many companies just aren’t a suitable candidate for outside investment. Here’s how to determine if you startup is.Read More >
Nobody wants to be up their eyeballs in debt, but it can be an inevitable outcome of university education, a tough couple of months, or simply being in business. The bad news is that the longer you stay in debt, the more interest you may have to pay. The good news is that debt needn’t be permanent; if you are dedicated and savvy you can pay it off quickly and forget it ever existed!Read More >
As a business founder, it may be tempting to reinvest every dollar you make back into your startup. However this is not a wise idea. When business founders make the mistake of paying themselves zilch, anticipating that one day they’ll be able to suddenly draw millions when business is booming, they cause themselves nothing but trouble. The truth is that the magical day when business is booming may not come, especially if you plan to expand your business. There will no doubt always be bills to be paid, investments to make, new equipment to buy or staff to pay. Although for a while you may need to sacrifice your salary, you shouldn’t do so indefinitely. As a business founder you should pay yourself once your company has grown sufficiently. Here is why you need to start taking a salary.
If you want the year ahead to be a success, it’s important to gauge where your small business stands financially as the year comes to a close and to build on improving your weaknesses and harnessing your strengths. These small business year end financial tips will ensure that your transition into the next year is smooth and that you are ready to reap success.Read More >
It means that an entrepreneur buys a company, thereby making an initial investment, then does some work to improve the business and then sells it for a profit. In recent years this has been a very popular way for savvy business people to make a substantial return on their investment. However easy as it may sound, when you flip a business, it is vital to get involved with a firm that will require a minimum of time, money and work on your part to make it viable. If you want to flip a business you need to have all the right elements in place so as to guarantee you'll make a profit. Here is what to look for in a business if you want to flip it.Read More >
While some small business owners might not start thinking about goals until the end of the year, the most prescient professionals are thinking about this now, so that they will not overload themselves, and their staff, by trying to do everything at the last minute.Read More >
Here are some common mistakes to avoid so you can create a narrative that connects with your audience.Read More >
Start by identifying your key revenue drivers.These are the areas and channels that are the best at attracting and converting potential sales leads. Here's how to find them.Read More >
Insufficient capitalmay cause you to cut costs in areas where you should be devoting more funds. Here are the ways not having enough capital will hurt startups and what you can do to raise more money.