After today you’re going to understand what a Liability is and how it works. I’m sorry, but you have no choice. My articles are far too interesting for you to stop reading. So buckle in, and let’s rumble! (more…)
Today we’re answering the question: What is an Asset? Assets are what make the business run and what keeps it alive. In my post about Cash Flow we learned that cash is like blood to a business. Interestingly enough, Cash is also an Asset! Things starting to come together for you? Just wait until you read this article. You’re going to love this! (more…)
Cash Flow = Income – Expenses
I’ve read that 80% of businesses fail within the first five years. If you’re part of that 80%, then your company will fail. Why? Well it doesn’t help that people jump into business without understanding the concept we’re discussing today. Let’s give them the benefit of the doubt, though. They may understand the concept, but they may be slack in it’s implementation and management. Over the next few weeks I will be helping you understand what role the Financial Statement plays in your business. Financial education FTW! That being said, let’s take a chunk out of that business failure rate, shall we? (more…)
Your mission statement (mission) is the most important tool your company has. Your mission is your compass, aiming you towards your main objective. What is that objective? Who do you serve? How do you serve them? Why? You may answer some of these questions, you may answer them all. Let’s get your mission started, and keep it simple in the process. (more…)
I wanted to give you a heads up that our first post on creating your “One Sentence Mission Statement” will be coming out on Monday Jan 27th at 8AM.
The next post, scheduled for Jan 29th at 8AM, will begin our series on “Understanding Financial Statements”. Now don’t get freaked out. We don’t cram a bunch of education into one session and expect you to understand. We’re going to take it step-by-step by starting out with “Business Income” and moving on from there.
Not only will you understand your business financial statements, but you’ll understand your personal financial statements as well! Imagine the banker’s face when you march in with your financial statement in a neat folio while asking for a loan! It’ll be Epic!
Business is simple. It’s a lot to learn, but when it’s old hat, you’ll be able to hold your own with the best of them! So Subscribe Now and follow me on Twitter and Facebook. You’ll be glad you did!
Welcome to the beginning of your process as an Entrepreneur! (more…)