Tips for Managing Your Restaurant’s Finance

August 28th at 6:17am

Starting a restaurant of your own is no mean feat. More than half of all the restaurants that are opened by aspiring entrepreneurs happen to go bust within the first two years of service. The restaurant industry is currently saturated with options, and opening a new restaurant of your own requires special attention and care. There is no room for error, which is why you should make sure that you have all facets covered before you move into the restaurant business. Starting your restaurant business requires immense effort and a keen eye on all the factors that are associated with…

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How the Best Entrepreneurs Manage Their Small Business Finances

August 8th at 12:41pm

Isn’t it a bit surprising and biased that whenever we discuss hard working and efficient entrepreneurs, we only mention those from multi-million companies and who were able to take their organization towards growth. While experiencing growth and expanding your business is one achievement, managing all the affairs of your small business and keeping it running despite the competition is another. While you would want to achieve entrepreneurial brilliance while running your small business as well, the above cannot be done without properly managing your small business finances. Small business finances require a completely different approach than large business finances. We…

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How to Improve Your Bad Business Credit

July 23rd at 6:07pm

You have built a personal credit history over the years. When you apply for a credit report, an agency analyzes your financial decisions and determines your rating. A good credit report score means that you’re a low financial risk. It will make it easier for you to get access to funds for milestones. And a bad score makes accessing these necessary funds much harder. While your personal credit is important for dealing with your small business, it’s not the only type of credit that you have to think about. You need to think about your business credit. What Is Business…

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Prepare for Your Important Equipment to Break Down

July 12th at 5:59pm

You need your equipment to be in good shape at all times. If one thing breaks down, it could bring your business to a halt. The problem could mess up your entire schedule until it’s replaced — you could even lose sales if it takes too long. To keep everything running smoothly, you need to be prepared for that important equipment to stop working. Be Prepared from the Get-Go If you haven’t opened up your business just yet, then this is the perfect opportunity to think about the future of your equipment. You should factor the costs to repairing equipment…

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Business Finance Terms You Need to Know Before Starting Your Business

July 11th at 12:56pm

Running a business of your own is a constant struggle. You can make this struggle easier for yourself and the others involved by treating it as a learning curve. Every struggle and every tight spot you encounter as part of your business journey should be treated as a learning curve you should follow for further glory. Regardless of whether you are just starting your business or have an already established small business that you want to take big, you should know all the business finance terms that will be thrown at you during your time as an entrepreneur. While you…

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Proven Ways for Improving your Personal and Business Credit Score

July 7th at 9:21am

The American Dream isn’t as lucrative as it was made to be. Behind the smiling faces, the mortgaged home, the chicken in the pot and the car in the garage, we have tons of credit and debt. You might already know this, but the American financial infrastructure is heavily dependent on credit and debt. Credit allows consumers within the market to buy and finance purchases that they would not be able to pay for otherwise. Credit is basically what allows you to get funding for your car, for your home and for other expenses that you have planned, even if…

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Helpful Tips That Will Get a Business through Off-Season

June 20th at 6:07pm

Some business concepts work for a single season. Ice cream parlors will thrive in the summer-time when the days are sweltering and people are looking to cool down with delicious sundaes. During the fall, pumpkin patches are brimming with customers who want to put plenty of jack-o-lanterns on their front porches and bake pumpkin pies from scratch. While these businesses flourish during one or two seasons, they will struggle during the rest of the year. The sudden drop in cash flow could put the entire operation at risk. If they don’t have enough funds to last them until the next…

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Financial Strategies for Startup Entrepreneurs

June 6th at 11:51am

Building a company is truly one of the hardest jobs that someone can do. You might be passionate about the whole experience, but let us tell you just how important it is to be rational, and treat the needs of your organization as it grows. Most entrepreneurs follow a business plan that is focused on their passion. Most entrepreneurs try to opt for business ideas that are related to their area of interest. For instance, someone with a degree in chemical engineering would be looking to think of ways to make biodegradable plastic through micro-algae or something similar. Many coaches…

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