Tips to Keep Your Business Finances in Order

If you’re like most small business owners, you spend the majority of your time managing daily operations, keeping customers happy, and looking for new ways to grow. Spreadsheets, cash flow analysis, and financial projections are probably not your first passion. However, measuring profitability, creating realistic budgets, and planning ahead for the future are crucial to your professional success. Follow these four tips to get a handle on the numbers, and…  Read more

Nine Ways to Become a Better Investor

Everyone would like to become a better investor. People get into a twist trying this method and that only to abandon them for the next new thing. There’s an easier way, and it involves following a few simple suggestions. Stop watching the market and start your watching stocks Just because the market is frothy doesn’t mean your stock’s price is. Just because the market is sinking doesn’t mean your stock…  Read more

11 tips for overseas business travel

If you’re ready to expand internationally – perhaps you plan to open a store overseas, start working with international clients or make a leap into exporting – these tips will help you prepare for hassle-free business travel. Travel tip 1: Check your passport – The earlier you can get your passport documentation in order the better. In many countries it takes several weeks to receive a new passport once you’ve…  Read more

9 Things You Need to Remember While Negotiating Contracts

There are several aspects of business that can only be learnt through actual experience. One of them is negotiating contracts. Several people fear the negotiation process because it is an intrinsically uncomfortable process. Asking for more money or making personal demands doesn’t come naturally to everyone. But with the right toolkit, you can breeze through contract negotiations. And you’d better get used to it, because you’ll have to handle a…  Read more

Is it better to buy or lease a company vehicle?

If you need a car to operate your business, you may wonder whether it makes more sense to purchase or lease. On the one hand, if your business owns the car you’ll have a long-term asset and may qualify for more tax deductions. On the other hand, buying a car is a huge expense and monthly lease payments tend to be lower than car loan payments; they may also be…  Read more

Worthwhile Expenses for Entrepreneurs

Being an entrepreneur is often about getting the most value out of your resources. That means spending only on the necessities, and nothing more. Unfortunately, things you consider to be a waste of your capital may actually be what your start-up needs to survive. Some of them are expensive, especially for a new company, but they’re worthwhile. Data Analysis Successful entrepreneurs are usually well informed. They don’t make decisions solely…  Read more

Three Ways an Accountant Can Save You Money

Many small business owners think they’re saving money by handling their financials themselves. While it’s a real asset to learn bookkeeping basics, cash flow management and your tax obligations, hiring an accountant to oversee your finances has many benefits. Leaving your books to a pro will free up time so you can focus on serving your clients and implementing plans for growth. Here are a few ways an accounting professional…  Read more

Five Best Selling Books on Business and Money

Bookstores and libraries around the world supply excellent instructional materials. Riding in the car or commuting on the train, you can learn from experts. The bestseller lists at Amazon are fantastic resources. The lists are updated regularly with current insight about the best books on the market. Have a look at some of the best books on business and money currently on the Amazon list. The Millionaire Next Door Thomas…  Read more

Avoid These 5 Costly Accounting Mistakes

A Canadian bank recently surveyed over 500 small business owners about what they love and hate most about owning their own business. Unsurprisingly, flexibility and feeling in control ranked first in the “love” category. Meanwhile, almost 60% said bookkeeping was hands-down their most hated task. Most business owners understand that effective financial management is key to their success. But lack of knowledge, frustration, and even avoidance can add up to…  Read more

How to Maximize your Assets before Retirement with Tactical Investing

Risk tolerance, time horizon, and asset allocation – you’ve dealt with these factors for a good part of your life, but now, in the face of retirement, they take on a more urgent and significant role. These factors – particularly tactical asset allocation – are vital to maximizing your assets before your retire in a few years’ time. A Different Take on Risk Tolerance and Time Horizon As your time…  Read more

Using Scarcity to Make More Sales

For an online business owner, scarcity is a valuable tool that can turn a failing product into a winner. It is best implemented in a subtle way that does not draw attention to itself, but the urge to purchase remains very potent. Scarcity can be a small part of your sales process that adds some additional revenue, or it can be a major component of your marketing funnel that influences…  Read more

Protect Business Reputation by Planning for Big Sales

A business plan is essential for business development. But even with a solid plan there is some aspect of unpredictability. There are a multitude of variables that have to be taken into account, any of which could have great impact on the prosperity of a small business. Sales forecasting may well be the most difficult and complicated of all areas covered in a strategic business plan. To predict sales, a…  Read more

Investment Basics – Understanding Your Gains And Losses

When you’re reviewing your investments, it’s important to remember that income and returns come from two main sources, Capital Gains and Interim Income. Capital gain (or loss) This is the difference in the overall value of your investment between when you purchased it and now (or the date that you sold it.) You can work it out as: ((Current or sale price per unit – purchase price) * number of…  Read more

10 Daily Habits of the Rich and Powerful

It’s the little things that make up the big things. Here’s a list of ten traits of some of the movers and shakers in the world today (and from the past). 1. They Stay Healthy Health is make-or-break. If you have it, your life will take on meaning like you couldn’t otherwise know; but if you don’t have it, you will only accomplish a comparatively small percentage of what you…  Read more

Why Your Business Might Not Look Like a Winning Bet to Investors

Have you had a potential investor turn away from your business for seemingly no reason? Investors don’t usually turn away from good opportunities so was there something that made your company or business plan unappealing? Here are six reason businesses makes themselves unattractive to investors. 1. There’s No Proof of Concept You can find good ideas everywhere but only a few of those ideas will actually end up profitable for everyone…  Read more

How Accounting Software Can Increase Profits

Most small business owners who use accounting software quickly master the basics. They automate processes like invoicing and payroll, track expenses and view real time financial reports to manage cash flow and make better business decisions. But what many business owners don’t take advantage of are key insights that can improve customer care and increase sales. Here are some smart ways you can use your accounting software to help boost…  Read more

Take Control of Your Operations: Properly Classify Your Business Risks

A lesson some business leaders learn the hard way is that in today’s global operating environment risks appear to be increasing exponentially. It takes only one trial by fire for a leader to recognize the importance of basing each decision in part on its risk versus its reward. It’s important that a leader maintain a steady focus on business risk, lest his business suffers a loss that can drastically brunt…  Read more

Why banks won’t lend to a business

How to obtain financing is a common concern for new businesses and those preparing to scale. Getting approved for a business loan or line of credit is more difficult than qualifying for a personal loan. It’s crucial that small business owners are adequately prepared to meet with a lender to present their business in the best possible light and qualify for the money they need. Here’s what you can do…  Read more

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