Monthly Archives: August 2015

How To Protect Your Business’s Financial Health

The clear signifier that you’re running a business well is that you are making money.  What this post will discuss will cover common financial pitfalls and ways of thinking that can leave the business losing money.

Don’t bet if you can’t cover the loss — so have reserves.
When we get emotionally caught up in the moment of planning to start a business, or actually starting one, the excitement and thrill about this new venture often gets ahead of strong, coolly detached reason. There’s a lot to be said about being able to block out time to cool down and consider your decisions rationally and objectively.

Every business, bar none, has gone through the experience of lacking enough money, or will experience  that lack eventually. The lack of money can even be tracked back to the earliest days of the enterprise. Turning money over and putting it back in to keep the business operational is not the same as making a profit. There are so many potential pitfalls that can influence how you can create money streams that 100% get-rich plans can’t be a given.

Before you starts a business you need to make sure that one, there are people who are prepared to buy your products (you have a viable, healthy market present) and two, there are enough people willing to do so to provide you a steady, sustainable market population to support you. You need enough customers to not only break even, but to turn a profit. Continue reading How To Protect Your Business’s Financial Health

How To Level Up In Your Business Relationships

Anyone who’s ever built a successful business, or is on their way to doing so, would recognize the truth that relationships are important.

Very probably, these people’s  business started from an idea inspired by watching or seeing something that was created by others. Then these entrepreneurs joined the dots in their own fashion, and came up with the concept for their business.  And they got the ball rolling.

  • They did the research, tapped resources, reached out and emailed, called up or posted in forums, asking for help.
  • They worked on  getting the start-up capital, maybe even through setting it up through crowd-funding, or even the good old family loan.
  • They set up their online presence: a website, the shopping cart, the payment system, the blog, the works.
  • The business  went from an idea, to a business plan scratched out during a session in a coffee shop somewhere, to a real, working entity online.

At this  point, it’s easy to hazard a guess that you’re reading in the hopes of getting helpful information …and it’s already in the first paragraph: Relationships are important. Continue reading How To Level Up In Your Business Relationships