Having
a financial contingency plan allows a business to react quickly and more
effectively in times of economic uncertainty. In young businesses, it can often
mean the difference between the success or failure of the entire enterprise so
it’s an important consideration for an organisation looking to promote
longevity and sustainability of profits. Financial uncertainty can stem from
many different sources […]
Starting your very first
business is never easy, as there is a steep learning curve. While learning from
your mistakes is part of the process, trial and error isn’t the only way to
glean useful knowledge and experience. Observing other people’s mistakes and
failures can also save you a lot of trouble in the long run. So, watch out […]
When
you are trying to entice investors to put their money into your business, it
makes sense to make your organization look as attractive as possible. You can
accomplish this by following these five tips:
1. Keep proper financial records
Financial
records show the performance of your company and help investors gauge the
returns they can expect if they inject funds […]
Fundraising
is a difficult task for many startups and small businesses. Due to the fact
that your business is essentially new, banks will usually be leery about giving
you a loan. This will usually force you into choosing alternative funding
options. However, if your circumstances demand a bank loan, the good news is
it’s far from impossible to get them […]
For many entrepreneurs, the exit plan involves selling the startup when it is good and ready. The problem you face is figuring out when that time has arrived. Here are five signs your exit plan is good to go:
1. You Know What the Company Is Worth
If your exit plan involves selling your startup, then […]
Most homeowners don’t worry about foreclosing on their home until it is too late. While nobody goes into purchasing their new family home thinking they’ll foreclose, it’s a good idea to consider the possibility. The following tips should help avoid foreclosure before it’s even a possibility.
1. Never Go over Your Budget
Know from the […]
Small business owners selling their businesses make mistakes all the time. They end up making thousands less from their business for this reason. Fortunately, the kind of mistakes often made are ones that are easily avoided. If you always dreamed of building a business and then
selling it to retire, you need to know how to […]
The business world can be quite cut throat; swallowing up corporations and spitting them out with some regularity. A new business can find it difficult not just to make a mark, but to survive as well. If you are a startup, here are four tips that will help you survive that crucial first year.
Dig in […]
Building a thriving business is a two-part equation – your sales need to grow while your expenses stay low. Sales growth stirs an entrepreneur’s imagination with creative solutions and attractive charts, but while you’re distracted with the revenue end of the equation, your expenses can easily spin out of control. If your expenses are eating up […]
The mental stress that can accompany dealing with a huge amount of debt to pay off can seem never ending. Whether it’s trying to keep up with medical bills, childcare expenses, or unexpected home repairs, dealing with the stress that it can cause is enough to wear anyone down. The following details a few ways […]
