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Did you know that about 10% of startups fail in the first year? If you're establishing a new business, here are some simple tips to help you along the way. 👉 Developing Revenue Targets: Setting revenue targets is crucial when starting a business or embarking on a new venture. This involves establishing specific goals and objectives for your business's income generation. Factors such as market research, industry trends, and growth potential should inform these targets. By setting realistic revenue goals, you create a roadmap for financial success and track your progress over time. 👉 Estimating Expenses: Estimating expenses is essential for financial planning in any business. It involves forecasting the costs associated with operations, including rent, utilities, salaries, inventory, marketing, and other overhead expenses. Accurate expense estimation allows you to project cash flow, set pricing strategies, and make strategic decisions to optimize profitability. 👉 Limiting Expenses Early On: In the early stages of a business, controlling expenses is crucial. Overspending or unnecessary expenditures can strain finances and hinder profitability. Limiting expenses early on helps conserve capital, extend your financial runway, and navigate initial challenges to build a sustainable business. And much more. Need help managing your startup's finances? 💸 Don't hesitate to seek assistance from a financial coach or accountant. 💡 Connect with us for expert guidance! 💰💸 Follow @financefocus767 for more financial tips. Subscribe to the Direct Deposit Newsletter on myfinancefocus.com for exclusive insights and updates. #StartupFinance #FinancialPlanning #BusinessSuccess #ExpenseManagement 🚀💼 . . . . #Businessrelations #Business #Savingstips #Savinggoals #Schoolsavings #Budget #Financialcrisis #Besmart #MyFinanceFocus #FinanceFocus #WallHouse #Loubiere #StGeorge #Dominica #Dominicabusiness #ENtrepreneursDominica #SaintGeorge #FinancialDominica #Financialcoach #Financialcoaching #Tax #Planning #Budget

I've noticed a common trend among small business owners—they often take on multiple responsibilities themselves in a bid to keep costs low. However, this "do-it-all" mindset can lead to overwhelming struggles and challenges in effectively managing all aspects of their business. While focusing on product-market fit, IT, or customer service may seem more appealing, accounting tends to take a backseat for many SMEs. But here's the truth—accounting is the unsung hero that holds the key to a business's success. Ask yourself—how can you measure your growth or gauge your success without a clear view of your finances? It's the meticulous crunching of numbers that provides invaluable insights into your financial health, empowering you to make informed business decisions. Without it, you risk making misguided budgeting or investment choices, which could ultimately damage your reputation—something no small business owner wants to face. Prioritize financial backbone for a thriving business! #OfinLegal #Finance #Startups #SMEs #Accounting #OutsourceAccounting

As your business grows, cash flow becomes more complex—and more critical. The last thing you want is cash flow issues when you’re gaining momentum. Here’s how I kept things steady while scaling:👇👇 🧾 Key Strategies for Financial Success: 1️⃣ Track Revenue, Expenses & Profit • Keep a clear picture of your financial health. • Use financial tools or work with a bookkeeper to stay on top of the numbers. 2️⃣ Invest in Financial Software • Automate tracking with tools that simplify reports and insights. 📊 3️⃣ Build on What’s Working • Scaling isn’t about taking huge risks—it’s about refining systems that are already driving results. 4️⃣ Focus on Sustainability • Smart scaling avoids burnout and ensures your business thrives long-term. 👑 👉 From Humble Beginnings to a Multi-Million Dollar Business. I started with nothing but a credit card and a trailer. By following the right strategies and maintaining a solid foundation, I was able to grow into the life I have today. ✨ Remember, great businesses aren’t built overnight. They’re built with intention, strategy, and persistence. Are you ready to take your business to the next level? Put your comment below 👇 . . . . #CashFlowManagement #ScalingSmart #FinancialSuccess #BusinessGrowth #EntrepreneurTips #BuildYourEmpire #SmallBusinessGrowth #SmartInvestments #SustainabilityMatters #MillionDollarMindset #StartStrong #StayConsistent #GrowthStrategies #WorkSmarterNotHarder #entrepreneurship #personalgrowth #businesswoman #womenentrepreneurs

🚀 The One Accounting Hack Every Startup Founder Should Know (But Most Don’t)! 💡 Accounting might sound boring to some, but what if I told you that mastering just one financial trick could completely change how you run your business? Here’s the secret: Understanding Your Breakeven Point 🧮 Why is this exciting? Because once you know how much you need to sell to cover your costs, you can stop guessing and start growing with confidence! Here’s how it works: 🔍 Step 1: Calculate Your Fixed Costs These are the expenses that don’t change no matter how much you sell (rent, salaries, etc.). 🔍 Step 2: Know Your Variable Costs These are costs that fluctuate with production (materials, shipping, etc.). 🔍 Step 3: Find Your Breakeven Point Use this formula: 📊 Breakeven Point = Fixed Costs ÷ (Price per Unit – Variable Cost per Unit) 🌟 Why This Matters: Once you know this number, you know exactly how much you need to sell to stay profitable—and that’s where the magic happens! You can set realistic goals, avoid pricing mistakes, and make smarter decisions with your budget. And the best part? You can apply this instantly to any business, no matter the size. Ready to take control of your startup’s financial future? 🔥 #AccountingHacks #StartupSuccess #BusinessGrowth #Entrepreneurship #FinancialStrategy

The Core of Entrepreneurship: Mastering Financials Today, I dove deep into one of the most crucial aspects of entrepreneurship—financial statements. While creating value is often seen as the foundation of a business, finance is undeniably the engine that drives its growth and success. Without a solid financial strategy, a business has little chance of scaling effectively. Here’s the takeaway: If you’re running a startup or planning to launch one, manage your finances daily. It's not enough to just have a business idea; ensuring your financials are in order is what separates successful businesses from those that struggle. If you're thinking about starting a business in the future, don’t wait to get familiar with your finances—start planning today. Here are a few key financial practices every entrepreneur should embrace: Track Cash Flow: Understanding where your money is coming from and going is essential. Cash flow is the lifeblood of any business, especially in the early stages. Budget Wisely: Create and stick to a budget. This helps prevent overspending and ensures that you’re prioritizing funds toward growth opportunities. Understand Profitability: Know how to assess whether your business is actually profitable, not just generating revenue. Profit margins matter. Financial Forecasting: Be proactive in planning your financial future. Accurate projections can help you make informed decisions about expansion, hiring, and scaling. Leverage Financial Statements: Get comfortable with balance sheets, income statements, and cash flow statements. These are not just numbers—they tell the story of your business. Seek Advice Early: Don’t hesitate to get expert guidance, especially when it comes to taxes, investments, and long-term financial planning. Remember, finance isn’t just about numbers—it’s about strategic decision-making. Mastering your financials early on can empower you to make better, smarter business moves. #BusinessFinance #Entrepreneurship #StartupTips #FinancialPlanning #CashFlowManagement #BusinessGrowth #FinancialLiteracy #ScalingUp #StartupJourney #Profitability #FinancialStatements #StartupSuccess #SmallBusiness #EntrepreneurLife #SmartFinance #Budgeting

🌟 Get ready to spark some engaging discussions! How about we dive into the intriguing world of business growth and its stages with a fresh perspective? Let's ignite a vibrant exchange of ideas among fellow entrepreneurs: 🚀 **Development Dives** - Have you ever faced the myth-busting challenge of seeking feedback for your business visions? - Share your take on navigating the unconventional funding waters – what's your recipe for success? 💼 **Start-up Stories** - Let's talk about the art of systemizing operations: Is it a structured plot or a creative dance? - Market penetration mysteries: Have you unraveled the key to breaking into new territories in your business endeavors? 📈 **Growth Galore** - Adapting to a growing customer base: a strategic waltz or an improvisational masterpiece? - Financial acumen and operational efficiency: Are you the business magician balancing numbers and operations seamlessly? 🌱 **Expansion Experiences** - Market competition showdown: A riveting game of strategy or a challenging obstacle course? - Venture into new marketing channels: An artistic exploration or a strategic conquest? 🏆 **Maturity Musings** - The big decision: Expand or exit? How do you navigate the crossroads in your business journey? - Crafting exit strategies: is it a grand finale or a new opening to fresh opportunities? 🔍 Let's open the dialogue and delve into the world of business growth together. Share your thoughts, experiences, and playful insights on the captivating journey of entrepreneurial evolution! #BusinessGrowthChat #EntrepreneurialExchange https://lnkd.in/exrtg9H3

Embarking on entrepreneurship? It’s a bumpy ride, but so worth it. Once you find an idea to bring to life, there's always the task of... - Understanding your market. - Financial management. - Building your brand. Feeling stuck? Not to worry. Here are our 5 tips to help you set your business up for success ↓ 1. Craft a detailed business plan. It’s your treasure map to success. Goals, market, strategy—nail them down. 2. Choose the right business structure. Sole trader or LLC? Your choice shapes your voyage. 3. Implement efficient financial systems. Invest in accounting software or services from the start. Every coin counts. 4. Establish a strong online presence. Your digital footprint is your beacon. Shine bright. 5. Commit to continuous learning. The business world spins fast. Keep learning, keep leading. Starting a business is an adventure. It demands your all—plan, commit, thrive. Need a hand? We’re here with accounting, consulting, tax expertise. Reach out. Let’s chart a course for your business to conquer the seas. 🌊 Email info@breslins.co.uk to get started. #AccountingTips #FinancialAdvice #BusinessInsights #TaxStrategies #SmallBizTips #FinancialPlanning #Budgeting #BusinessGrowthTips #Entrepreneurship101 #StartupFinances #SMEs #StrategicPlanning

I went from working 80+ hours a week to a fully automated business in 3 months and these are my biggest insights… A business should function as a money machine, exactly how I used to look at businesses. When I started my entrepreneurial journey I always thought that you could just build a business in half a year to a year, automate it and just have a money machine working for you 24/7. Then when I got further into business I found out that it wasn’t as easy as I thought. But I always felt like it should be that way and eventually I managed to make it happen. I scaled my first service business from 0 to 100k+ a month in 7 months and when I got to that point I felt miserable… Yup, I reached a very big milestone but when I was at that point I felt like shit. I was working every minute I was awake and during this time my business partner actually almost got in a burnout… It got really heavy and I knew something needed to change. So I went out and bought books, workshops and got mentorships on how to organize a business properly. I had no idea what I was getting myself into. It was like I discovered a whole new way of starting, running and scaling businesses. It took some time but after a while I discovered how to turn my business into an actual money machine. Right now we’re almost a year since I had any responsibilities or work to do for this business and it’s still in the top of the market in The Netherlands. For the past year I’ve seen a lot of businesses and I found a framework on how to turn your business into a self growing, automated money machine. Like it should be! And I decided to give away this framework for FREE. This will 👉 Set you free of your business 👉 Increase the productivity of your team 👉 Reduce your stress like crazy. And I’ll explain the whole thing + exercises to get started with the implementation for free. Just comment “Money Machine” and I’ll send it over to you!

Check out the #SmallBusinessDay replay presented by T-Mobile For Business! Such a great day with even greater tips & tricks for small business owners! #tmobileforbusiness #smallbusiness #smb #smallbusinesslove

Have you got your ducks 🦆🦆🦆in a row? If you’re like me, the answer is often ‘not quite’. But here’s a thought – it’s perfectly OK to start selling even if everything isn’t perfectly aligned. The key is to generate interest, perhaps even a waitlist, signaling that you’re on the move. The message? Start before you’re fully ready. 🚨However, there’s an exception to this rule: accounting. When launching a business, having your accounting functions in order from day one is non-negotiable. Without a solid accounting foundation, you’re not just unprepared; you’re at risk of making expensive errors. So, while it’s fine to embrace a bit of chaos in many areas as you grow, ensure your financial house is in perfect order. That’s not just preparation; it’s preservation. Hi, I’m Wendy. 👋🏻 I help business owners simplify their accounting and keep more money in their business. If this is something I can help you and your business with, let’s chat! 👍🏻 #Entrepreneurship #StartupLife #AccountingEssentials