Monthly Archives: July 2015

This is one of the most frequently asked questions in starting a new business, and one that people often get wrong by underestimating the answer. That may not be a problem, if there is plenty of cash in reserve and sales pick up quickly, or it may be a devastating problem if there was very…

I love to read stories of entrepreneurs starting from scratch and building great small businesses out of their guts and ideas and just a little bit of cash. Stories like the birth of Microsoft, Amazon and Apple are good, too, but a tad harder to relate to- at least for me. The stories I really…

Sometimes people get the idea that real entrepreneurs are hard chargers who never hesitate and do everything immediately. That’s not true. There are lots of successful entrepreneurs who are just like everyone else when it comes to getting going- sometimes it is harder than others. Sometimes it is really hard. The difference is that they…

You can think of the chart of accounts as your accounting foundation, and a lot of people have foundation problems! The chart of accounts, or COA, is the list of places you can put your money. The goal for your COA is that it should be as detailed as you need to give you quality…

Having a partner can be the best thing in the world, or the worst. To avoid lots of potential partner problems, you definitely want to have a partnership agreement, in writing, before you start your business. That is not the end of making your partnership work, however. Whether you know your partner well or have…