A lot of people say, “Never give up!” They say that if you just work harder and continue to stand up whenever you fall, everything will eventually turn out great in the end. These are great sentiments but they are not always the most practical way to go,...
Everyone who starts a business knows that it will be a risk. There will be chance to fail. It really helps that when you launch a business, you are armed for it. You should have the knowledge to run a successful business as well as...
Every business should have a systematic bookkeeping practice. This is the best way to keep track of your business activities and your finances—earnings, expenses, losses and all other business-related fiscal matters. The success of a business will depend on how well a business owner manages his...
It’s fine to celebrate success but it is more important to heed the lessons of failure. -Bill Gates Try and try again until you succeed. How many times have we heard that before? It’s so much easier to say, actually, than really doing it. Failure takes so much...
Businessmen are always on the lookout to make money. That’s precisely why they start a business—to make money. And aside from making sure the business is making money, most entrepreneurs continue to invest their money to make more money. But there are so many investment...
Without viable working capital, a small business or any business for that matter wouldn’t be able to operate at all. The balancing act between accounts payable and accounts receivable, plus managing inventory, may determine if a small business will be able to maintain having their...
Saving is one essential input to gain capital accumulation which is geared toward economic growth and development through investment. Saving is keeping an amount of time or funds that you do not spend within a specified duration. It could be tapped one day for investment...
The first year of a business is going to be a tough one. Just like everything else in life—learning how to drive a bike, baking a cake, and more—the first few moments will be a struggle. The good thing is millions of other starting entrepreneurs...
Dealing with constant change, when caught unprepared, may prove daunting to small business owners. Over time, the financial concerns of small business owners may need to adapt to these changing winds. Because if they don’t have the backing of a larger group, they may find...