According to a report released by the Small Business Development Center Network there are approximately 82,000 salons in the United States alone. If you are looking to start your own salon and seeking a business loan from the bank, they will probably ask you to complete a set of financial projections. If the thought of a […]
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Zero to One Book Review
I just finished Peter Thiel’s book Zero to One and wanted to spend some time to review the book and put in writing what I have learned and how it relates to ProjectionHub. First of all the book was excellent. It was a quick read and it outlined a number of concepts that I have never heard […]
Building Financial Projections Around Assumptions
One of the things I have learned over the past 2 years with leading ProjectionHub in our effort to build the “TurboTax of financial projections” is that a good set of financial projections must be built on a foundation of assumptions. Those assumptions must be easy for a potential investor or lender to find, they […]
ProjectionHub Advisor Account Released
We are excited to announce some new features we have made available for business advisors, accountants and finance experts. Check out our new ProjectionHub Advisor account video.
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New Financial Forecasting Tool for Business Plan Competitors
Today we are very excited to announce that ProjectionHub 2.0 is now live, and is available for startup entrepreneurs and small business owners to use to create financial forecasts. One area that we have decided to support is business plan competitions. There are thousands of business plan competitions around the country each year, and many […]
How to Build Realistic Sales Projections for Your Startup
Startups and early stage businesses are notorious for coming up with outlandish sales projections that they simply can’t execute. Typically the problem revolves around building top down projections rather than bottom up projections. What’s the difference? Top Down Financial Projections Top down projections take big numbers like industry sales figures, city populations, comparable business sales […]
3 Types of Businesses that are Reducing Risk by Going Mobile
As the Client Services Manager at a technology based business incubator I have the opportunity to watch trends in the startup world first hand. One trend that has been very interesting over the past 6 months is that traditional bricks and mortar businesses are going mobile. When I say, “going mobile” I am not talking […]
Why You Should Keep Your Day Job When Starting a Business
If you are bootstrapping a business on the nights and weekends while you keep your day job you are probably trying to find a way out of your job. Hold on! Before you do that, let me explain why an alternative source of income is critically important if you want to secure a loan for […]
Does Factoring Receivables Give Your Small Business a Bad Image?
By Adam Hoeksema A very common problem for small businesses is managing cash flow when you extend credit to your customers. Here is a common scenario: You land a huge job for your architecture firm as a subcontractor. The general contractor has hired your firm to design a new building. Unfortunately, you aren’t able to […]