9 Easy Finance Tips to Make Your Small Business Succeed

9 EASY
FINANCE TIPS
TO MAKE YOUR
SMALL BUSINESS
SUCCEED

Introduction
Starting your own business can be difficult even with great
finance tips. Nonetheless for your success as a profitable
business, you have to take care of your finances if you want
to succeed.
Most small business owners are not finance experts—they
have an overall strategy, but they don’t like to pore over
Excel spreadsheets and do endless reporting.
So today we’ll look at the 9 best finance tips to help
entrepreneurs and small business owners succeed.

1. Responsibilities
Do not delay your financial responsibilities, for a few important
reasons:
• the situation will not disappear and only get worse
• you can end up with legal and tax problems
• it will alleviate your stress or guilt
With software such as InvoiceBerry, it is very easy and simple to
begin to take care of your financial responsibilities.

2. Educate Yourself
Your financial intelligence should be high; however, the most
important is to know what these documents are:
• cash flow statement
• income statement
• balance sheet
• statement of shareholder’s equity
These are important for your business and a good place to
begin your financial education journey

3. Seperate Finances
It is very important that you separate your business and
personal finances for a few good reasons:
• you’ll be able to keep accurate tax records
• you’ll be able to accurately track your expenses
• your accountant will love you for your organization
• you will end up saving money
While you’re at it, get a business card and use it, strictly, only
for business purchases.

4. Seasonal cash flow
All businesses have cycles, and you need to prepare for when
your cash flow is in its low season:
• prepare by storing up cash flow as a buffer
• be savings-minded when you are in the high season
• be able to pay bills in your low season
For the most part, if you want your business to survive, first you
must understand what your cash flow seasonality is and learn to
prepare for it.

5. Ask for discounts
Surprisingly, getting free or lesser-priced stuff is easier than you
could imagine:
• send an emal and ask for a free version of the softwrae
• don’t be ashamed—companies are willing to help
• SaaS companies are most willing to provide it for free
Although it can be a dog-eat-dog world sometimes, people are
still willing to help you if you ask them.

6. Cut variable costs
Just because the saying “Sometimes you have to spend money
to make money” exists, you shouldn’t follow it always:
• there are two costs—variable and fixed
• fixed costs are facts and you can’t change them much
• variable costs are up to you
• cut down by finding free or cheaper versions
It can be tough in the beginning for each purchase, but it will
save your big in the end.

7. Online invoicing software
Free invoice templates are great, but online invoicing software
offers so much more:
• create and send invoices in under 1 minute
• access your business and customer information anywhere
• track your expenses easily
It takes the responsibility off your hands, and you can travel and
know that you can work with your data anywhere, anytime.

8. Financial performance
For strategic business goals, you need to have a thorough
business plan in place:
• Use the SMART goal sheet to plan your goals
• measure and keep tabs on the movement of your money
• set better and better goals for future revenue
By doing this on a regular and consistent basis, you are setting
yourself up for achieving real success in your financial life.

9. Get some help
This might be tough to hear but you can’t do it all. When in
doubt, get some help:
• you gain more than you spend with professional help
• it will free up your time to focus on your business
• it will improve your business finances
With the time saved, you’ll be able care of the other parts of
your business so you can succeed and eventually expand.

Read our full article by following the link below:
9 Easy Finance Tips
to Make Your Small
Business Succeed

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