Recent research shows that women and minority-owned businesses in the U.S. have been hardest hit by the COVID-19 pandemic. The impacts have been drastic, according to research conducted by the Stanford Institute for Economic Policy Research (SIEPR). African American business owners suffered the greatest level of losses with a 41% drop in revenue. Hispanic business owners … [Read more...]
Using Financial Analysis to Diagnose Your Company’s Health
How well is your company really doing financially? Do you truly know the answer to that question? Do you know how to conduct the right financial analysis tests to get an accurate answer? Don't worry. Many business owners don't know the full story of the financial health of their companies. The problem with not knowing is that disaster could be looming. If you don't … [Read more...]
3 Ways to Use Excess Working Capital to Increase Profits
Many companies struggle to find ways to improve working capital, but others find themselves in the opposite position. They're sitting on excess working capital. If your company is sitting on large amounts of cash, you're missing opportunities! That money could be reinvested into the company to improve profits and shareholder value. During an economic downturn, having extra … [Read more...]
6 Ways to Improve Your Company’s Working Capital
Working capital represents the money your company has to meet its day-to-day business expenses. It's the amount of cash in your company’s pocket. Effectively managing working capital is critical to ensure your business can meet its obligations and avoid bankruptcy. Working capital is calculated by subtracting current liabilities from current assets. Yes, you want to have … [Read more...]
3 Accounting Terms Your Business Can’t Live Without
Avoided Accounting 101? Does the thought of interpreting financial statements make you cringe? You don’t want anyone to mislead you, or worse, take your hard-earned money right under your nose just because you didn’t understand key financial concepts. You need to be able to comprehend the importance of the accounting information that your CPA shares with you. Here are 3 … [Read more...]
How to Create A Financial Model for Your Business
Most entrepreneurs fall in love with an idea and spend a lot of time building out what it looks like. For example, a software developer will work on the features of his software product; a chef will work on the menu for her restaurant; and a service provider will identify potential customers for her services. This is the fun part of creating your business plan, and it is … [Read more...]
How To Launch A Successful Crowdfunding Campaign
We live in the age of the entrepreneur. And, thanks to the number of crowdfunding platforms available, it’s possible for anyone to launch a business idea, product, or concept without access to traditional resources. Nonetheless, it will take more than a great idea and a few strategies to successfully crowd-fund a campaign. Below are a few tips for generating a memorable and … [Read more...]
6 Tips to Build a Successful Crowdfunding Campaign
Crowdfunding is becoming an increasingly popular method to access financial capital. Rewards-based crowdfunding is appealing as a way to raise funds without giving up equity or increasing your debt. But there are other benefits too. Using your social network to gain support for your business goals and engaging your customers in the success of your enterprise can have a … [Read more...]
6 Reasons Women Have Problems Getting Loans
On a recent trip visiting my parents, I learned some interesting things about my grandmother. There were a couple of ways my grandmother made extra money. One of those ways was using her talent as a seamstress. Every one loved her work. People would have her make them all types of garments. I vividly remember my grandmother’s house. I often wondered why she didn’t buy … [Read more...]
How To Be A Better Business Leader – 5 Top Tips
Failure and financial disasters are operational hazards as far as company directors are concerned and it is only those of us who can overcome setbacks that really stand a chance of becoming truly excellent business leaders. With that in mind, here are some simple but hopefully helpful tips on how we all might improve our business leadership skills: 1. Be proactive as a … [Read more...]