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Category: Finance

Have An Umbrella For A Rainy Day.

Liquidity are the resources available to pay your bills. Usually it’s cash; it always needs to be something you can easily convert to cash. Liquidity risk is the number one issue to manage, and the lack of liquidity is …

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Don’t Put Out More Than You Take In.

Expenses are the costs to your business as a consequence of money spent. Some are directly related to your products and some are not. The indirect expenses are also called overhead because there is no direct relationship between …

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Make Sure The Price And Quantity Are Right.

Revenues are your receipts: the cash collected from your sales. They are the top line results of your company and are based on both price and quantity. A revenue-starved start-up doesn’t last very long so it is very …

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Get Your Mind On Your Money.

Financial means monetary, fiscal or related to money (dollars and sense). It’s all about the numbers. You don’t need to be an accountant to read financial statements. But as an entrepreneur, you do need to know what the …

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Risk Taking Is Different Than Gambling.

Risk is a possibility of the loss of something valuable. It can be many things like a threat you don’t understand, uncertainty about your market or a disruption to your core business. Risk can be qualitative: your plans …

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