Your goal with your startup is to make money, right? This is why it's so important to keep money in the bank moving in and out in a healthy manner. If you want your startup to succeed, you'll have to manage your cash flow with finesse. This can be difficult for new business owners especially when it comes to keeping tabs on your burn rate. In fact, not paying enough attention to your cash flow can result in startup failure. Even if you are profitable, or you've raised a lot of capital, things ca...

Talk about innovation is everywhere – in board rooms, conferences, employee meetings and university classes. In 2019, it is estimated that billions of dollars will be spent developing innovation competency in corporations, ministries and society. However, to gain real returns, business leaders must stop talking and start being innovative daily in their actions, decisions and management approaches. In Silicon Valley, innovation comes through action. To be innovative, leaders must:   1. Be cu...

So you've opened your doors, you've hired your first round of employees, and now you need to pay them. While payroll may seem like an easy task, it's full of twists and turns that can trip up even seasoned bookkeepers. Here is what startups need to know about payroll accounting to ensure it's done accurately and in a timely manner. Decide pay dates Your first step is to set up your payroll. It's a safe bet that your employees want to know for certain when their paycheck is coming. You have sever...

"Knowing is not enough; we must apply. Willing is not enough; we must do." Bruce Lee A couple of questions for you… How many of the things that you told yourself at the beginning of the year that you were going to do, have you followed through with so far? How long will you wait until something you "should" do becomes something you "must" do? What is really stopping you? In this video, I talk about the importance of taking action. You see… Knowledge is only potential power. The real, true power ...

Your startup is growing, and you are busy. You're selling your products, it's time to hire more staff, and things are looking good. Yet, because you're so busy, you don't have time to look at your finances, and perhaps your cash flow doesn't seem as good as it could be. Your startup needs financial systems and processes in place to help it grow, and to do that you need to hire someone to take care of it for you, so you can concentrate on your duties. In this article, we'll look at why hiring an ...