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10 Strategies To Avoid Bad Risks In Your New Venture

Startup Professionals Musings

Even non-profits need revenue to cover their costs, and continue to provide services. Great team members may take more time to find, and cost you stock options, but a qualified and highly motivated team that stretches your budget is a good calculated risk. Don’t rely on conservative forecasts to reduce risk.

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10 Manageable Risks That An Entrepreneur Should Take

Startup Professionals Musings

Even non-profits need revenue to cover their costs, and continue to provide services. Great team members may take more time to find, and cost you stock options, but a qualified and highly motivated team that stretches your budget is a good calculated risk. Don’t rely on conservative forecasts to reduce risk.

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How to Forecast Sales

Up and Running

First, allow me to deal with a very common problem: Business owners are often afraid to forecast sales. I was a vice president of a market research firm for several years, doing expensive forecasts, and I saw many times that there’s nothing better than the educated guess of somebody who knows the business well. That’s much harder.

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How to Write a Business Plan for a Service Business

Up and Running

Whether you are starting a consulting business, a car repair shop, or a construction firm, a business plan will help you figure out your strategy, develop your marketing plan and figure out the all-important financial forecasts so that you can be successful. For some service businesses, startup costs can be high. Know your numbers.

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When Should a Small Business Hire an Executive Team?

Up and Running

That often involves working long hours and keeping your costs lean. The important thing is that you analyze your business need and forecast when to introduce the additional expense. Just don’t forget about the rest of your organization. The good news is that you get to decide what your executive leadership team looks like.

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14 Tips for Starting a Successful Business

Up and Running

With this information, you can forecast the viability and profitability of the business. But with the added benefit of having people you trust handling the rest. To truly stay on top of your finances, you should start creating financial forecasts as early as possible. Recommended Reading: How to forecast cash flow.

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10 Reasons You Don’t Qualify for an SBA Disaster Loan

Up and Running

Maintaining your business through the coronavirus crisis has likely led you to cut costs, revise your sales projections, and potentially seek out a loan to help you stay afloat. Aside from risky industries, there are also those that are excluded from SBA loans, no matter how good the rest of your application is. Revisit your forecasts.

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