Finance & Accounting
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Tips For Your Year-End Budget Deviation Analysis
Conducting an end-of-year Budget Deviation Analysis is a must for every small and self-employed business owner. In it, you compare how your business actually performed relative to how you had forecast it would perform. Going through this process, not just at the end of the fiscal year, but also eachRead More
5 Reasons Your Business May Be Leaking Cash
Have you ever taken a look at your finances and been shocked by how little cash you have in the bank? This is not so uncommon, and for small business owners, it can be absolutely terrifying. You may not realize it, but there are a lot of areas in aRead More
Crowdfunding for Self-Employment: Yay or Nay?
In 2015, it was estimated that $34.4 billion was raised through crowdfunding. By 2025 that number is expected to grow to over $300 billion. Crowding funding sounds like a business’s dream come true – people give you money and expect little or nothing in return. As this industry continues toRead More
How Much Financing Do You Really Need?
One of the biggest challenges in starting your own business is securing the financing you need to cover start-up costs. However, before you can determine where that financing will come from, you need to identify how much financing your business really needs. So, how do you figure out what yourRead More
Business Health: It’s all about the numbers
How do you determine business health? This is among the most frequent questions our clients ask us. Our response: Well, how do you determine your own health? Just as with your own personal health, there are many factors that play into whether or not a business is healthy. Some ofRead More
Ask Dr. Deborah | What are my financing options?
Dear Dr. Deborah, I’m getting ready to open my own business selling desserts and pastries and I’m looking for some advice. I’ve talked with restaurants in my area and many of them are willing to carry my products. However, in order to start making such large batches I will needRead More
Tools of the Trade | Profit & Loss Forecast
If you want to increase your business’s profits, you need to create the right strategy and understand your expenses. To do this, there is one tool that you absolutely must have: a profit and loss forecast. As a self-employed business owner there are several pieces that you need to bringRead More
Why You Should Be Nurturing Supplier Relationships
You may not realize it, but your supplier relationships can be a critical part of your business strategy. Most businesses have at least one supplier they commonly order goods from. These purchases typically represent the major area of spending, especially for those who sell physical products. A strong relationship withRead More
7 Cash Flow Best Practices You Need to Know
Without continuous, positive cash flow, you can’t have a successful business. Even though this is one of the basic truths of running a small business, many entrepreneurs struggle with cash flow management every day. Poor management and control issues can quickly snowball into major problems, and sadly, many of thoseRead More