Cash flow is the lifeblood of any business. But what exactly do we mean when we talk about cash flow? And why is it SO important to your business? Cash flow refers to how money moves in and out of your business over a specific period of time, whether over one month, one quarter,… Read More »
Being a small business owner has many benefits. You can choose who you work with, how you work, when you work, and your income potential is so much better than if you were working as an employee for someone else. However, there are some drawbacks too. You may wind up working more hours than when… Read More »
You probably already know that losing money is far easier than earning it. Running a business — even a one-person shop — and making money is not for the faint of heart. It takes a lot of work; you have to love what you do to have a shot at being successful. And when we… Read More »
The short answer is yes, it can be. I work with many solopreneurs who have only one business bank account and it works well for them. However, if you struggle to maintain an adequate balance in that account, or to pay yourself, your employees, or your taxes then opening another account or two may be… Read More »
Have you ever wondered if there were things you should be doing on a quarterly basis that maybe you were missing? Here are 4 things you should be doing within the first few weeks of a new quarter to make sure your business and books won’t get behind and you are ready for whatever the… Read More »
Many successful businesses began as a hobby and grew to be a business. But some businesses also become hobbies. Why? Because their owners stop treating them like businesses. Are you enjoying a hobby or running a business? How a Hobby Becomes a Business First, let’s take a look at how a hobby becomes a business.… Read More »
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