Whether you plan to apply for a loan or not, a profit and loss statement (P&L) is an important document to pile up. Why? It gives you a better understanding of your current finance and allows you to ramp up your cash flow management. What is...
Let’s face it: accounting can be absolutely daunting and time-consuming. The National Small Business Association (NSBA) estimated that a third of business owners spend over 80 hours (or two weeks of full-time work) on sorting out federal taxes. Unfortunately, we cannot simplify the tax legislation or...
How much should I quote this new client? Giving accurate price quotes is sometimes seen as an art – some business owners seem to be charging unreasonably high and still have a full roster of clients, while others struggle to break even at the end of...
Stuck with creating that first invoice for your business? Love freebies? Congrats! You are at the right place because we have both of these things here – free, awesome and professional invoice templates to pick and put to action. Why Use a Basic Invoice Template The first point...
Let’s face it: some payments will arrive late. And they can cause massive havoc with your cash flow management – never a good thing. In fact, the statistics on late payments are staggering. In the UK, small business owners admitted to the following: [edgtf_unordered_list style="circle" animate="no" font_weight=""] 51% say...
Lack of “love for numbers” or an accounting degree is a lousy excuse for ignoring your books. Remember this: 82% of SMEs and startups fail due to poor cash flow management skills and understanding of cash flow management basics. So let’s prime you up with some...
You’ve done the work. Your client is happy. And now comes the most thrilling part – getting paid. Oh, wait. There’s another far less-fascinating step that you need to make before you see those numbers in your bank account. You need to make an invoice. An invoice is...
Not every email inquiry leads to a new work opportunity. Not every phone call will result in a paying gig. You need to maximize your results of closing as many deals as possible. Already good at attracting new relevant clients and leads to your business? Great....
Healthy cash flow is the backbone of a successful small business. A late client payment means that you need to get creative with your expenses. You are forced to invest time in chasing invoice. You pay your suppliers late or increase borrowing instead of focusing...
We all want our businesses to be a roaring success, but the sad reality is that very many entrepreneurs face suffering a burn-out in only a few short years. This is down to them putting their hearts and souls into their business at the expense...