Do I Need an Accountant for My Small Business?

Many small business owners feel they need to do it all, but should that include the stress from managing all the business finances? When it comes to keeping the books, there are three people to look at: yourself, someone on your team, or an accountant. Given your limited bandwidth as a business owner, it’s natural […]

5 Biggest Mistakes Small Businesses Make

According to the U.S. Bureau of Labor Statistics, 20% of start-up businesses fail during the first two years and around 50% fail in the first five years. This can be discouraging to startup entrepreneurs who are looking to start a business. Let’s look at the five biggest mistakes small businesses can make and the potential […]

How to Conduct a SWOT Analysis

A SWOT analysis is a powerful tool to help you better understand the state of your business and how to set goals. A quality SWOT analysis provides a snapshot of where you are today and what direction your business should be moving. In this post, we’ll cover the best ways to conduct a SWOT analysis, […]

Small Business Finance Glossary: Revenue vs. Income

What’s the difference between revenue and income? It’s easy to confuse revenue and income, and sometimes small business owners focus on “money coming in” as a catch-all. Maximizing sales means healthy income and healthy revenue, right? Well, not necessarily. It can be very important to differentiate revenue and income to fully understand the health of […]

Small Business Finance Glossary: What is Burn Rate?

As a small business owner, you likely started your company because of your passion and expertise for the products and services you provide—not because of your passion for financial statements. For this reason, critical financial metrics often go unnoticed by business owners. One of the most common examples is burn rate. Burn rate is one […]

10 Steps to Starting a New Business

Congratulations, you’re considering starting a new company to pursue your dreams and ambitions. Kudos to you! As entrepreneurs, we all have different experiences. The blueprint for one small business won’t necessarily work for another, but some elements of starting up will always be true. Here are the top 10 things to consider when starting your […]

Four Ways for Small Businesses to Combat Inflation

Cost of living in the U.S. has seen its highest 12 month increase since 1982. Unsurprisingly, inflation is having a significant impact on small businesses. According to a CNBC poll, 47% of small businesses had to raise their prices last quarter. Another 32% expect to do so if the trend continues. An alarming 26% of […]

3 Phases of Launching Your Small Business

The end of 2021 likely brought a sigh of relief. Although last year had its ups and downs, it also set a new record for the number of new business applications submitted. A whopping 5.4 million submissions surpassed the 2020 record of 4.4 million. Despite a number of factors contributing to instability, many Americans finally […]

Math is Hard. Small Business Income Management Isn

As small business owners, we hear so much about cutting, slashing,