The process in determining how to price your products or service can often make or break your company. Managing a startup’s financial health is a science. You have to learn to let data guide the finer points of your business, even when it goes against what your instincts might tell you. It takes time and […] Read more “How to Price Your Products and Services”
Category: Small Business
Evolving financial technology has always been a curse and a blessing to businesses. Used correctly, it accelerates processes, automates minutiae, and makes work easier. However, technology also has the dangerous potential to distract, distance, and disorient. With the speed and scale at which most businesses move, it’s impossible to operate without taking advantage of the […] Read more “How to Combine Financial Technology and Human Touch to Optimize Accounting”
Your business budgeting is often the difference between getting what you want and failing. Budgeting is an essential life skill. Failing to manage your money well could lead to unnecessary stress and anxiety. In business, budgeting is just as important – perhaps even more so. With the stakes being much higher, the consequences of poor […] Read more “Top 5 Mistakes in Business Budgeting”
Critical metrics will tell the story of the health of your business. But these metrics are not often the first priority for businesses. Entrepreneurs are known for their vision. They’re the idea people. The big picture thinkers. Some are also gifted with business acumen and have the strategies for promoting their business and bringing in […] Read more “5 Critical Metrics to Determine Financial Health”
Accounting is often seen as mundane and painful. However, in today’s world, apps provide the efficiency needed to maximize financial intelligence. Instead of a bunch of paper and spreadsheets, modern accounting provides dashboards and reports to help your business grow. With a solid financial intelligence, your business: Better handles times of adversity and uncertainty Makes […] Read more “7 Apps to Maximize Financial Intelligence”
During times of uncertainty, the worst thing a business can do is sit back and wait. Learn how to stay proactive and make financial decisions even while facing an unknown future. Read more “How to Plan During Times of Uncertainty”
Did you know that there are more than 30 million businesses in the US alone and just 50% of them survive for more than 5 years? Apart from management or administrative problems, most small businesses fail simply because the owners are unable to calculate their annual budget properly. The yearly budget is more important than you might […] Read more “How to Set up a Monthly and Annual Budget for Any Small Business”
This is an important area for business owners and one that the IRS continues to focus on to make sure that companies are following the rules. Are you properly classifying your workers? Below is the 20 factors test that the IRS uses to determine whether a worker is an employee or an independent contractor. These […] Read more “Is your worker an employee or a contractor?”
As a startup business owner, you know that entrepreneurship is an uphill battle. You have to make the most of limited resources to build your company from the ground up. You have to be agile in every area and incredibly smart about how you use your resources–especially your money. A simple financial dashboard is about […] Read more “The Importance of a Simple Financial Dashboard for a Start-up Company”
Business owners seeking financing have options from conventional loans to using credit cards. Each option carries pros and cons, making one wonder which is best for their operations. Have you considered a Small Business Administration loan? An SBA loan offers a great option due to its flexible terms and low-interest rates. Interested? Keep reading, this […] Read more “Guide to SBA Loans: How they Work and How to Get Them”
Business credit cards provide a great way for small business owners to build company credit and earn rewards. They also are a convenient way to purchase items necessary to grow the business. But, of course, there’s are a couple of caveats. You must have good personal credit to be approved for a business credit card. […] Read more “BREX Credit Card Review: The Perfect Card for Businesses”
You just started a business, congrats! As with most start-ups, you have incurred a lot of costs and are wondering whether you can deduct any of these costs on your taxes. Here are the rules: There are two types of costs associated with starting a business: start-up costs and organizational costs. The IRS defines start-up […] Read more “The Start-Up Cost Deduction”