The balance sheet can be the single most frustrating thing for a business owner. If you are having trouble with your balance sheet my first suggestion is to hire an accountant. My second suggestion is to use Quickbooks which automatically generates your balance sheet so that you don’t have to worry about it. But there […]
Archives for February 2013
3 Realistic Ways to Finance a Software as a Service Startup
Software as a service startups are popping up everywhere these days, and for good reason. The monthly recurring revenue business model is certainly desirable because it is predictable and profitable. The problem with a successful software as a service company becomes financing growth. Generally with software as a service there is no upfront, one time […]
Creating Financial Projections for a New Restaurant
There are probably more restaurants started and more restaurants that fail each year than any other type of business. There are several reasons that so many restaurants fail: Just because you can cook does not mean you can start and run a profitable restaurant Owners underestimate how much it will cost to open, and have […]
How to Start a Coffee Shop and NOT Go Bankrupt
At one time or another almost every aspiring business owner I know thinks they would like to open a coffee shop someday. Usually someone is able to talk them out of it, but sometimes you find a person that is so committed to entering this highly competitive market that there is no stopping them. The […]
SBDC and SCORE Utilizing New Financial Projection Tool to Simplify Projections for Clients
In the Spring of 2012 Adam Hoeksema, Co-Founder of ProjectionHub, was working on his personal taxes using TurboTax when it hit him, “If TurboTax could take a highly complex process like preparing a tax return, and make it simple enough for someone other than a tax professional to complete, there must be a way to […]
How Quickbooks Online Will Change The World
I believe that Quickbooks Online is the final piece of the puzzle for Intuit to control the financial world for you at home, at work, and in the eyes of the government. You may not realize this but Intuit owns the 3 top finance web applications in the world: Mint.com – Personal Finance TurboTax – […]
3 Deadly Pro Forma Balance Sheet Mistakes Entrepreneurs Make
Entrepreneurs are often asked to create a set of pro forma financial statements for their business during the process of securing capital through a loan or investor, or when they are about to experience a big change like a merger or acquisition, or a large new customer. Future financial projections can be tricky all the […]