There are a lot of steps involved in getting your business started. One of the critical ones to to choose and create the right business entity (legal structure). There are a lot of options out there and it can be confusing to try and compare and contrast them.
So in this episode, we are going to give you a brief overview of each type and some information about what types of businesses tend to use each type. We also discuss the importance of hiring an accountant, some tips for finding a good one, and why we think you should learn to do your books.
When you hang around entrepreneurs, you will undoubtedly hear a lot of questions. Entrepreneurs challenge themselves, which means that they are constantly facing new challenges and will be asking peers their questions. We’ve heard a lot of these questions in our free community for entrepreneurs (http://sscommunity.co), and decided that today we would answer and provide our perspective on some of the most common questions that we hear.
Episode Overview – Creating a Website for Your Business
If you have a business, then you need to have a website. But before you start getting all nervous and worried about the all of the technical aspects, know that it is cheaper and easier than ever to create a nice looking website for your business.
In this episode, we are going to walk you through the process and show you the tools that we use to build websites for each of our businesses.
Social media is everywhere these days. If you are not using some form of social media for your business, then you are missing out on a big opportunity to expand your brand, get in front of your target audience and increase your customers.
But it can be overwhelming. What sort of strategy should you employ? Which social networks should you use? How often should you post? In this episode, we are going to provide an introduction to some of the most common social media channels and explain how to get started on social media for your business.
Being a successful entrepreneur is challenging. This often leads entrepreneurs to seek out options to help them be more successful. One such option is business coaching. This can be a great option, or it could be a complete waste of time and money.
So on today’s podcast episode, we walk to take a deep dive into business coaching; what is it, what causes people to not be successful with it and what steps can you take to help increase your chances of success if you choose to hire a coach.
When starting your business, you have two basic options in terms of financing your new venture. The first option is to bootstrap, or basically get started without taking on a large amount of debt or money from others. The second option is to not bootstrap, and basically raise money from others to help start and grow your business. Which one should you use? In this episode, we will break down both options and provide you our opinion on this topic.
For a small business, the ability to properly manage their cashflow could be the difference between being successful and having to close the business. So as an entrepreneur you should ask yourself; does your business have enough cashflow?
Whether the answer is “Yes” or “No”, be sure to listen in as we provide several strategies to help maximize your cashflow and avoid the pitfalls of not doing so.
On the last episode, we walked through some of the challenges that you may face if you don’t understand how to read and leverage your business financial statements, as well as some solutions. As you may have guessed, several of the solutions were using your financial statements.
So today we are going to start with the basics and introduce the 3 main financial statements (balance sheet, income statement and cashflow statement) and help you understand how to read them.
Many businesses fail. One of the leading reasons is because they don’t understand how to read and properly utilize their financial reports. Many entrepreneurs think that these are only needed for tax time, but that could not be further from the truth.
So on today’s episode, we are going to walk through five challenges that arise when you don’t understand and use your business financial statements. Additionally, we are going to share several real world examples of these from our various businesses.