June 24, 2021
I received a listener question, recently, that made me take pause. I was thinking back on the show’s history, and I don’t believe I’ve ever addressed this topic before now. The question was, “Justin, how do we create a small business budget?” Although budgeting is a relatively simple concept, knowing how to create a well-functioning small business budget can be a little confusing if you don’t have experience doing so. I’m using today’s entry to show you four quick and easy steps to create a budget for your business.
August 11, 2020
Who would have thought that 2020 would bring about so many changes and challenges? Owning a business is already a difficult endeavor but when you add a global pandemic that causes a near-total shut down of the U.S. economy, well… let’s just say it’s not something that most of us would have volunteered for. Fortunately, the Small Business Administration has provided some assistance in the form of the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL). It has occurred to me that many financial experts have reported on the PPP ad nauseam, while the EIDL remains a bit unknown. Join me as I uncover some of the things business owners should know about the EIDL.
May 2, 2019
Recently a prospective client asked me, “Justin, how will I know when is the right time to sell your business? Is it really possible to know?” Looking around right now we know the real estate market is up. Stocks are booming. This perhaps also encourages you to ponder the sell of your business. Determining your answer isn’t cut and dry. It needs to be broken down into a couple of different areas helping you answer your perfect time.
March 14, 2019
Selling a business is a major step many business owners take when they are ready to retire. Yet the question, “Are you ready to sell your business?” can send business owners into panic mode. Truthfully, you may never be emotionally ready to sell your business. After all, you’ve poured your life and soul into your business. However, you can make personal and business preparations now that will have you ready to sell your business in the future.
February 28, 2019
As a small business owner myself, I understand the struggle so many of you face, and I’d like to offer this small piece of advice to my fellow go-getters. If you make extra money this year, instead of investing more money in your business, invest it in yourself first. Let “slow money” be your greatest resource when it’s time to wind things down. Let me explain.
February 14, 2019
Being a business owner often means needing capital, and sometimes you just don’t have the extra money you need. There are times you will want to turn to a traditional financial institution (i.e. a bank or credit union) for help, and there are times that may not be your best option. That’s where peer to peer lending (P2P) could come in. This alternative lending practice has been around for years but has risen in popularity over the last few. However, is it right for you and your business?