Category: Business Planning

7 ideas to keep your small business going during the pandemic

It’s a scary time right now for many business owners, especially those that have had to close or modify their business to comply with social distancing to stop the spread of the coronavirus. Whether your small business is your full-time income or your growing side hustle, many of us have to figure out how to […]

Cash Flow

Whether you’ve done your business planning in a formal written document, on scraps of paper, or if you have your ideas in your head, it’s important to tell the story and then translate it into numbers on your cash flow statement. There are many factors that impact your cash flow. But, to get started, here […]

Social responsibility is a common component of many forward-thinking businesses today. Yet, integrating a social purpose into your business can oftentimes seem like a daunting task. How should you contribute your company’s time, talent, or treasure? What cause should your company be aligned with? For many entrepreneurs, these questions are not always easily answered because […]

Read this article for top tips before you sign a commercial lease

A commercial lease is a critical agreement for your business. If you think you’ve found the perfect location for your business, your first instinct may be to sign on the dotted line. But, before you rush into it, consider these six factors to make sure you’re setting your business up for success. 1. Take time […]

3 Ways to Improve Your Cash Flow

In part 1 of this post, we looked at the 5 Factors that Impact Your Cash flow. Now, let’s review some strategies for improving your company’s cash flow: 1. Look at your assets Review your inventory management system. Is there room to tighten up, so you’re not sitting on large amounts of inventory or carrying […]

Cash flow is all about timing

Every business will experience the need for more cash from time to time. The key to improving your cash flow is to accelerate your inflows and delay or reduce your cash outflows. In other words: make sure more money is coming in than going out. It sounds easy, but there are several factors at play. […]

Are you ready for entrepreneurship? Is business ownership for you? Before you take the leap it’s important that you understand the realities of starting and running a business. Most articles on this topic will warn you about the lack of a predictable paycheck, the need to take risks, and the importance of internal motivation. I […]

Picture of road block

If you’re seriously looking at self-employment, you’ve likely begun to add up some strong reasons for embracing the change that’s beckoning you. From the wrong angle, that little crevasse in your way begins to look like the Grand Canyon. If you want to start a business but can’t seem to make that final decision, try […]

Do you get up a few minutes early in the morning to brew your own coffee, or sleep a little later and then whip through a drive-thru for your morning pick-me-up? The next time you go through a drive thru for that cup o’ joe, picture your financial strategy shouting and waving its metaphorical arms […]

Picture of child with rock

Sole proprietorships, general partnerships and corporations aren’t your only options when you’re considering the right structure for your business. If you’re exploring social entrepreneurship, you may have heard of Co-operatives, Community Contribution Companies (C3 or CCC), Not-for-Profit Societies and Charities, but how do they differ and which one is right for you? Read more to […]