Finance professionals often find that personal traits, not financial limitations, are inhibiting their clients’ success. This suggests that in order to grow and manage their finances, these individuals must first change who they are as people. Overcoming these mental obstacles ultimately makes the world of finance much less intimidating. In this new piece for Forbes, […]
Ask any business owner to name the number one requirement for financial stability. It’s not revenue, capitalization, or even access to affordable financing. You can hit the jackpot in all of these areas but still drive your business into the ground. While obtaining as much working capital as possible seems like the logical answer, it’s […]
Regardless of your industry, all small businesses share at least one common goal: substantial working capital. It’s almost impossible to grow an operation without the means for several major investments. When you hit the inevitable speed bump, your cash cushion will help you keep moving forward. Access to business loans has improved dramatically as of […]
It’s understandable for small business owners to balk at the idea of learning basic accounting terms and principles . “Isn’t that why I hired an accountant?” you might think. Yes, no one has to know this information better than your accountant or bookkeeper. You wouldn’t have hired them if they didn’t earn your trust, so […]
The general requirements for the traditional small business loan have the same purpose: showing the financial institution that they can trust you. Each requirement gives the institution another reason to trust the applicant’s ability to make regular payments while maintaining their business’s financial health. Many successful businesses, however, cannot meet these notoriously high standards. Maybe […]
Many new businesses cannot afford to cover startup costs and/or recurring expenses with their own money. Of course, this doesn’t mean the business has no shot of opening. The owner just needs to find another source of funding. In most cases, the search for funding ends with one of two solutions: debt financing or equity […]
After figuring out your general strategy and business model, it’s time for the least fun part of starting your own business: calculating startup costs. There’s equipment, marketing, and office space, but these expenses pale in comparison to the cost of your initial supplies of inventory. New businesses must provide exemplary customer satisfaction in order to […]
Many service-based businesses do not get paid immediately after serving their customers. Instead, they send invoices to their customers that contain the agreed-upon due date for the full payment. This business model has worked for generations but doesn’t always achieve the expected result. Common problems include customers failing to pay on time and businesses extending […]
It’s important to know your business’s value for multiple reasons. You’ll likely need to present this figure when speaking to investors and financial institutions. If you sell your business, you must make sure to offer an appropriate price. When reaching out for media coverage, attaching an impressive valuation to your business will greatly increase your […]
Many finance professionals use the internet as a platform for sharing their expert opinions. With so many opinions coming from so many people, deciding which piece of advice to take can be intimidating and confusing at times. But when you really look at all this content, it’s abundantly clear that educated finance professionals follow the […]
