For every company you have ever heard of, there are more than twice as many businesses you never knew existed — and that’s because they failed. One in four businesses (25%) fail after their first year. As many as 36% of businesses fail after their second year, and 44% fail after their third year. read more…

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You are passionate about your business. You worked hard to get to where you are, and you have full faith that your company can thrive, providing the highest quality product and the most excellent customer service on the market. But maybe math, finance, and accounting are not your strong suits. As knowledgeable as you are in your particular field, and as much as you believe in your brand, without the proper financial management, your business is not likely to succeed. read more…

All businesses are unique — small businesses especially. While some sort of uniform algorithm would certainly be helpful to determining the keys to running a successful small business, the best many small business owners can hope for is to learn from their peers and by studying what other businesses are doing right. By examining these common threads between successful small businesses, small business owners can cull the secrets of success and apply them to their own business models, learning what they should and should not do. read more…

Between 2013 and 2014, over 5% of 14,405,210 businesses surveyed closed their doors due to inefficient cash flow. A lot of things can go wrong for an entrepreneur, but if you plan ahead and determine a specific goal, understand your market, choose your location wisely, and conduct a proper financial risk analysis, your chances of success will remain strong and steady. read more…

In previous blog posts, we’ve told you that one in four businesses fail during their first year. That number increases to 36% by the second year, 44% by the third year, and 50% by the fourth year. Since small businesses are the lifeblood of any economy, that’s a disturbing set of data. Even worse? It’s estimated that up to 46% of businesses fail because of “incompetence.” In other words, they’re either ignorant of financing and pricing, fail to pay the taxman, or spend too much too soon. read more…

Every business — no matter what the industry or field — eventually comes down to bottom-lines and profit margins. No matter how great a product or cause you might create and represent, it does no good if you can’t keep your doors open. That’s where financial data analysis tips for beginners and experienced business people comes into play. read more…

Technology is advancing at a rapid pace over a multitude of industries, and the corporate world is scrambling to catch up. It seems as if the bottom falls out for a major corporation every single day, and you need the best tools possible to ensure that your company isn’t next on that list. read more…

Starting a new business can be difficult. Nearly one quarter of all businesses fail about one year after they open. Nearly 50% of all new businesses go under within four years. Many do not succeed, because they cannot get access to enough start up capital. Others go under because of sheer incompetence, which accounts for nearly half (46%) of all business failures. read more…

When it comes to running a business, the difference between success and failure can depend on a multitude of things. However, some key aspects of maintaining a well-run organization are often overlooked by novice business owners, which can lead to failure. One of the most important factors of successful business ownership is taking the time to calculate total current assets and make business decisions based on this vital information.
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Unfortunately, there is no step-by-step manual for running a successful, profitable small business. With so many outlying factors and variables that are beyond your control, it’s important to pay attention to the factors that are within your control, such as financial analysis. read more…