You may have heard of the tradition of saving your first dollar from your first sale. Mom and pop stores have them framed near cash registers or tucked lovingly into office drawers. It serves as a symbol for the toil and joy of building a business.
So you’ve earned your first dollar(s), and now you’re wondering…
According to the 2019 Onpay Small Business Finance and HR Report, just 30 percent of small business owners work with accountants. That’s not surprising, given how much each dollar counts to a small company.
Doing the accounting yourself certainly saves some money in the short term. That said, it might be worth hiring an outside accountant for your company…
In any business, liquidity is important. You need enough cash to pay your obligations. That is, over time the amount of cash that flows into your business must be greater than or equal to the amount of cash that flows out of your business.
You can endure negative cash flow in the short term by dipping…
Recently Mike Michalowicz , one of the most prominent authors on entrepreneurship and small and medium-sized enterprises ( SMEs ), launched his new book Fix This Next , which we could translate as Solve This First . Mike is the author of best-selling books such as The Pumpkin Plan , Profit First , Surge , among others. Personally, he is one of the authors…
Many aspiring entrepreneurs think the key to growing a successful company is linked to the ability to secure investor funding. For some businesses this may be true, but many successful companies have been built from the ground up with no outside investment or support, aka bootstrapping. It takes great dedication, strong work ethic,...
New business success is not all about size – it’s about meeting your objectives with minimal stress and cost.
Too many of you business owners think success only means being the next Amazon, or you stress yourself out trying to be everything to every customer.
If you want to succeed, make time for reflection and don't let yourself get caught up in the hustle.
It doesn't matter whether I was working a full-time job (and building my business before and after work hours) or now, as a full-time entrepreneur: I always place time on my...