Entertainment magazine for the everyday A-List StarCentral

Home of the hottest online trends, the best online deals and the most promising upcoming stars from all over the world!

  • About
  • Contact
  • Login/Register
  • Cart (0)

Main Navigation

  • Celebrity
  • Shopping
  • Industry Tips
  • Trending
  • Movies & TV
  • Magazine
  • Advertise
  • Subscribe

MASSIVE DVD CLEARANCE SALE

Hot prices on selected Blu-rays and DVD's for a limited time only

Featured Post

Bea Dizon

No Comments

3 Essential Financial Tips Every Entrepreneur Needs To Know Before Launching A New Business

43

Image via Shutterstock / Sofi photo

A startup without a proper plan and pre-analysis of different risks you may encounter during your business venture could lead to problems and waste of money. One of the things you need to protect when building a business is your investment. Therefore, it is critical to learning how to manage your finances to guarantee a sustainable business.

Track your finances

Make sure you track all your funds to know where your money goes. Keeping the record of your expenses up-to-date allows you to review your financial status. If you can monitor your cash flow, you can point out which part of your business areas are spending a lot so you can allocate the excessive amount to a more critical business plan you want to implement.

Proper cash flow management also enables you to limit excessive expenses for less essential business needs. Control spending at your startup since you are not yet able to generate your profit. It is still very early for you to reward yourself with fancy things without yet generating your net income.

Ensure you organize every record of expense such as marketing costs, mortgage loan or rental fee of your office, water and electric utilities, employee’s payroll, taxes, and many other aspects where money is involved. Organizing these expenses helps you do the proper computation easily.

Hiring professional help

Not all entrepreneurs possess an accurate computation skill. Hiring a professional can help you do the complex computations and get accounting done efficiently. Through his/her help, you can also allocate a specific amount specially intended for the tax contribution. Monthly reconciliation with your bank also enables you to verify if there are accounting errors done or unusual transactions without your knowledge.

Save some money for a rainy day

It is also essential to reserve some portion of your money to be used for your personal or household finances. Aside from this, you also need to allocate an amount intended for emergency use in case your business needs it. Since you are still in the start-up stage, avoid using the money from your company, so you can compare your profit versus your expenses.

Having savings will also allow you get prepared in case worse things may happen while your business is running. This will help you avoid the risk of running out of money which may be a cause of its loss or failure to operate.

Every step you have to make involves finances. Therefore, time is another thing you have to value. You do not have to rush things to achieve success. However, you still need to make sure you can appropriately schedule your day to day activities.

Once you have already mastered all these things mentioned, you can now be ready for a smart investment. This could be for your retirement, insurance, or another business expansion. These are just some of the financial goals most entrepreneurs dream to achieve. Aiming and achieving these things are the rewarding gifts you got from your effort and self-discipline.

  • Only $1

    StarCentral Magazine October 2018 Issue Featuring Madison, Jess And Brooke

    Latest Issue Issue October, 2018 featuring: Madison Croft, Jess Turunen and Brooke Murray and so much more inside.
    Grab your copy today!

    Download Issue Now

Related Posts

  • 6 Simple Yet Effective Ways to Get Rich Within 5 Years Or Less6 Simple Yet Effective Ways to Get Rich Within 5 Years Or Less
  • 3 Basic Financial Tips For Entrepreneurs Launching A New Business3 Basic Financial Tips For Entrepreneurs Launching A New Business
  • 3 Essential Start-up Tips For Running A Financially Stable Business3 Essential Start-up Tips For Running A Financially Stable Business
  • Have You Got What It Takes To Be An Entrepreneur In 2019??Have You Got What It Takes To Be An Entrepreneur In 2019??
  • 12 Financial Terms That Every Entrepreneur Needs To Know About This 201912 Financial Terms That Every Entrepreneur Needs To Know About This 2019

best new business ideasentrepreneurshow to become richstarting a small businesssuccessful entrepreneursyoung entrepreneurs

Post a Comment

Click here to cancel reply.

Please note that your email is never published nor shared. Please also note that abusive or spammy comments will not be condoned and the opinions expressed in the comments above do not reflect the views of StarCentral Magazine. Required fields are marked with an *.

*
*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

 
Rising Entrepreneur Spotlight: Find Out More About Noel And Waseem Ballou

Entrepreneurship

Rising Entrepreneur Spotlight: Find Out More About Noel And Waseem Ballou

The Trailer For Free Guy Has Just Dropped And It Stars Ryan Reynolds Stuck In A Video Game

Rave Reviews

The Trailer For Free Guy Has Just Dropped And It Stars Ryan Reynolds Stuck In A Video Game

  • Western Union
  • GKMBJ
  • Aussie Elite
  • Miss Earth Australia
  • Enquire with us to advertise your business here!
  • Laxales
  • Mona Lisa
  • Archie K Photography
  • Fin Photography
  • Royal Aquamarine
  • Beautopia
  • DJ Savvy
  • Hit Music Producers Inc

Footer Navigation

01Popular

  • Top 10 internet scandals that has rocked the Philippines
  • Top 12 sexiest and most Seductive male scents that will drive women wild!
  • Miss Multiverse Australia Just Gave Gabrielle Keaton A Blast Of A Farewell Party
  • Introducing Cause Film Festival: An Annual Short Film Festival That Provides A Platform For Film Makers
  • 3 Powerful Visualization Techniques To Turn Your Dreams Into Reality

02Latest

  • Watch Katy Perry Warm Up With Santa in Her ‘Cozy Little Christmas’ Music Video
  • The Trailer For Free Guy Has Just Dropped And It Stars Ryan Reynolds Stuck In A Video Game
  • Rising Entrepreneur Spotlight: Find Out More About Noel And Waseem Ballou
  • Watch Jimmy Kimmel Hilariously Prank His Staff with His Wax Figure
  • The Trailer For Wonder Woman 1984 Has Just Dropped And It’s Totally Badass

03Comments

  • sajolalexander9736@gmail.com: Nice
  • elisabeth brigitte: Kyle antony
  • Günther: Kyle Antony
  • günther: Kyle Anthony
  • elisabeth brigitte: Kyle anthony

04Latest Issue

  • StarCentral Magazine October 2018 Issue Featuring Madison, Jess And Brooke

    StarCentral Magazine October 2018 Issue Featuring Madison, Jess And Brooke

    Download Now

05Sponsors

  • Beautopia
  • Mona Lisa
  • Fin Photography
  • Royal Aquamarine
  • DJ Savvy
  • Laxales

06Get Social

  • StarCentral Magazine on Facebook
  • StarCentral Magazine on Twitter
  • Subscribe to StarCentral Magazine

07Affiliates

  • Seriously Sexy Ads

© 2006-2019 StarCentral Magazine · All rights reserved · Terms & Conditions · Privacy Statement · In collaboration with Mojo New Media Solutions