Starting a Business Series: Accounting Software

As a CPA, I am all for having great accounting records, financial statements, and accounting software.  That being said, I believe far too many business owners rush into buying accounting software they just don't need.  Even to this date I do not use accounting software for our multiple businesses.  There are certainly certain businesses that …

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Starting a Business Series: Where to Focus on Day 1?

It is so exciting and invigorating to start a new business!  You will instantly feel the urge to get out there and make it happen.  There are so many things you feel you need to do now. Create a logo Make a website Print business cards Design flyers about your business Make your business social …

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Starting a Business Series: Cash Flow

When you start a business cash flow can quickly bring about anxiety, then euphoria, then anxiety, then euphoria....you get the point.  Cash flow can be tough to manage when you start a new business.  I encourage taking the emotion out of the cash flow situation for the first year or two by being strategic.  You …

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Starting a Business Series: Gross vs. Net Income

Who cares about what you make, it's all about what you keep. It is far too common for business owners to focus on Gross Income vs. Net Income.  This makes owners feel better when their Net Income is not good.  It also pushes people into the mindset of focusing on making that next sale or …

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Starting a Business Series: Choosing an Entity Type

When you start a business you must decide what type of entity you will be at first. You have many options and they can be overwhelming. I am going to make it very simple for you. Most business owners start with the question of whether they should be an LLC, or not. There is a …

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Starting a Business Series: Financial Risk

Starting a business can be exciting and fun but it can also be very intimidating and scary. Mostly, this comes down to the financial risk involved. When you start a new business you are usually starting from ground zero financially. You may not see income for weeks or months to come. This can lead to …

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Passive Income and Return on Time Investment

What is your time worth?  When it comes to investing your time to produce passive income you will find that if you set things up correctly the financial rewards can be exponential.  That is, if you invest your time correctly as you build things that will produce truly passive income later.  As you explore passive …

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