Financials

There are 3 questions that should be answered when starting a business as follows: How much profits was generated by the business over a given time What is the accumulated wealth of the business at any point in time How much cash flowed through the business These three questions are answered by the: Profit and loss statement The balance sheet statement Statement of cash flow When these 3 statements are viewed together

In its most basic term, success means to achieve ones goal. So to achieve success, there has to be goals. In this article, I will be discussing financial success from a business owner's point of view. Most business owners I see define success by the amount of revenue they bring in. It feels good to say I bring in over a million dollars in revenue. However, I have seen business

Jacob a 14 year old boy is a straight A student. His method each school year is to study just enough to get an A. He never really stopped to think how his performance compared with other students in other schools or never really had a plan for college. His mindset was as long as I keep getting A's I am fine. When Jacob applied for college, he did not get

There are so many factors to consider when forecasting.  The processes required to forecast correctly are many but interconnected. For example you cannot manage cash flow if you don't have a good forecasting system. In this article, I will be discussing the main steps to take in developing a budget/ forecast. Budgeting and forecasting work hand in hand. Once you have a budget in place, you can determine how much

Pricing is an important topic faced by all entrepreneurs. There are many factors that affect the price of a product or service. The purpose of pricing is to enable the entrepreneur to gain market share while achieving a target rate of return. Pricing must be high enough to cover the cost of doing business while earning a reasonable profit. In some cases, due to high level of competition, a business