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How Do You Survive When Your Business Isn’t Profitable at the Start?

Success

I would advise any entrepreneur—but especially those starting a business for the first time —to create a personal budget. With that in mind, put these smart budget practices in place before you face any lean times: 1. But you also need to be prepared for your finances to change dramatically. I recommend 1.5

Budget 279
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3 Smart Money Moves to Make Before Starting a Business

Success

Unsurprisingly, finances are at the top of the planning list. Once you do the prep work and assess your current cash flow and resources, determine whether you can or should finance the business yourself or will need outside capital. Plan for your personal finances. You should consult your own tax, legal, and accounting advisors.

Finance 345
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5 Long-Term Financial Goals and How to Achieve Them

Success

These goals provide motivation, direction and discipline when managing your finances. While still making the minimum payment on all of your debt, focus on paying down high-interest debts first using extra funds in your budget. Long-term financial goals are your money objectives that will take more than a few years to achieve.

Goals 288
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3 Simple Steps To Manage Your Budget And Cashflow

Office Organization Success

Along with paper piles, budget and Cashflow is another area that can be a huge source of overwhelm and frustration! . However, it needn’t be… let me share with you three simple steps that you can put in place to manage your budget and Cashflow. This is so you can see how your finances are ‘flowing’ throughout the year.

Budget 100
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What electronic record-keeping software best fits your needs?

BMT Office Administration

However, making the switch to electronic record-keeping often isn’t as expensive or cumbersome as small business owners think. More expensive than basic file storage options. This makes it an appealing choice for small businesses on a budget. Many small businesses put off adopting electronic document management practices.

Filing 98
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3 Steps to Take Before Going Into Business for Yourself

Success

Before going into business for yourself, you should have an account set aside to save for these additional expenses. As a W-2 employee, you know exactly how much you’ll be paid each month, making planning for life’s expenses easier. Ideally, you should have at least two years’ worth of non-discretionary expenses in the bank.

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5 Administrative Assistant Skills That Add the Most Value

Admin Awards

Budget perceptiveness. You’re on the front lines every day — overseeing day-to-day operations, selecting vendors and negotiating contracts — putting you in the perfect position to look for opportunities to cut office expenses. Ability to display grace under pressure.

Skills 40