1. The Collaboration Crisis Leveraging your skills and talents when you are a one-(wo)man-band is the toughest challenge for any solopreneur. So, why don’t more of us collaborate? It would enhance the value proposition to clients, spread the daily duties around, and increase the potential to get new and different kinds of work. And yet, […]
The majority of American businesses are sole proprietorships, according to the U.S. Small Business Administration. These “solopreneurs” have full control over the direction of their business and its operations. There are plenty of advantages to working for yourself and by yourself–for instance, you never need another partner’s input or approval to make big business decisions. But there […]
Debt is undoubtedly a useful tool when starting and growing your small business, and in reality, the vast majority of small businesses will rely on debt financing of some type. However, there’s a fine line between having debts that you can manage and debts that are spiraling out of control. Sometimes, all it takes is […]
Unfortunately, running your own business comes with several time-consuming but unavoidable bookkeeping, tax, and accounting tasks. Although they might be frustrating, these tasks are crucial to keeping your business safe and compliant in the eyes of the taxman and generating valuable information that you can use to run your business more effectively. The reality these […]
Cash flow is defined as the money that moves into and out of your business over a specific period. Cash comes in and goes out of your business constantly. It comes into the business as ‘income’ from customers and clients who buy your products and services. It flows out of business in the form of […]
Unlike in a traditional work environment, as an entrepreneur you’re both the salary-giver and the salary-receiver. How much you put into owner’s compensation is up to you, and this decision will invariably impact how much money is left to reinvest in your business. That’s why figuring out your personal finances is a part of the […]
The superstar entrepreneur you follow on Instagram just posted about the new video equipment she bought for her business. Your favorite Facebook group is abuzz about running Facebook ads. And your business BFF just expanded their product line with a big inventory order. So does that mean it’s time for you to grab new video […]
Most small business financing advice falls into two schools of thought. One encourages you to bootstrap your business: put your head down, unload your personal savings, invest all the cash from your first sales, and with a bit of hard work, you’ll make it. The other school is more traditional: go to a big bank, […]
Two businesses. Two smart leadership teams, two motivated staff, two potential blockbuster products. So why is one growing and the other floundering? Three words: Smart financial planning. Whether you’re a first-time entrepreneur or a business owner aiming for an IPO, you probably know there’s a lot more to success than keeping the books in order—though assembling […]
The Paycheck Protection Program officially ended May 31, 2021. Read our PPP page for more information or visit our PPP Loan Forgiveness Guide. Small-business grants provide free money for startups and existing businesses, including those impacted by the coronavirus pandemic. It can take time and effort to research and apply for funding. To help you start, here’s a […]
