How to Choose a Bank for Your Startup
It happens that two people I care about are both starting their own professional service businesses. Both of them are really good at what they do as the main core of their business, and neither has any experience with the basic admin. I wanted to help, and as I got going, I realized that this...
By Tim Berry
It’s all about the money, money, money!
Tim has taken us through what a business plan is, how to just jump in and get started, how to hone your strategy and focus… now it’s time for the reason why you started a business in the first place. Money! Knowing how much money you have and how much you need are two important...
By Bplans
How to Avoid Bankruptcy in Year One of Your Business
The amount of businesses that cannot even survive for a single year is alarming. Depending on what statistics you look at, anywhere from 4% to 25% of businesses fail in their first year of business. Sustaining operation for a single year doesn’t seem like a long time, so how can one ensure the business they...
By Chris Keller
Financial Statements to Know and Love
Yes, of course! I both love it and hate it when something somebody else says seems obvious to me, but only after they’ve said it. That’s resonance for you. And maybe it’s envy too, as in why didn’t I say that? Either way, it’s worth sharing. For example, this quote: Having a revenue goal isn’t...
By Tim Berry
Food Service: How Much Is That Broccoli in the Window?
High expectations and a vision of success dance in the heads of every new restaurant owner. Weeks of work goes into planning menus, finding your niche, costing out the food and hiring your crew. Failure is not an option! Except it is. And a very real one.
By Pat Parmele
Use Tax Accounting to Inform Your Planning
Looking at your tax forms for the year gives you a detailed history of your individual income. If you’re a business owner, your corporate tax return should give you the same kind of assessment of your business revenue stream, deductions or exemptions, and costs. While it’s a favorite adage of ours here at Bplans that...
By Bplans
Establish a Records Retention Schedule for your Business
All of us know, or should know, that we need to save and safeguard our business records. When we start up it’s easy to hang on to every document, receipt, invoice, and business record. But after a few years we find that all these records we’ve been keeping are taking up more floor space in file cabinets...
By Tim Berry
Records Retention Schedule
All of us know that we need to save and safeguard our business records. And after a few years we find that all these records we’ve been keeping are taking up more floor space in file cabinets than work space for ourselves and our employees. The good news is that we really don’t have to...
