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5 Key Metrics to Check in your Five Year Plan

Here are my favorite metrics to check when I finish creating a five year plan.  These metrics are also great to check for annual budgets or even monthly forecasts. Revenue Growth Year over Year Percentage – Revenue is the key to any business and understanding how it changes year over year gives you insight into Read more about 5 Key Metrics to Check in your Five Year Plan[…]

Cash Flow Forecasting

How to Create a 13 Week Cash Forecast

In this video I explain how to create a 13 week Cash Flow Template, Customer Forecast and AR Forecast.  I also share lots of good excel and QBO tips along the way 🙂 If you need help or have questions, Finance Pals would love to give you some free tips and advice over a 30 Read more about How to Create a 13 Week Cash Forecast[…]

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Finance for Startups – Proforma, Bookkeeping and Funding

In this Regis Innovation Challenge video on Finance for Startups, we will discuss:  How Much Money you Need, What you Need to do to Prepare for Taxes Next Year and will also look at How you are Going to Fund your Business. To answer those questions we look at proformas, bookkeeping and funding options. If Read more about Finance for Startups – Proforma, Bookkeeping and Funding[…]

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How to get free money for payroll costs – PPP Covid-19

The Coronavirus is out and we are all adopting to zoom calls and helping teach our kids school.  The government has come out with lots of programs to help.  To us the programs that give you money seem like the best so we are going to tell you how to get money for your business Read more about How to get free money for payroll costs – PPP Covid-19[…]

Multiple Scenarios

Why you need more than 1 budget

I was recently working for a company building their financial model to prepare for a series B raise.  We started by building a base case, which continues the current trends in a ‘business as usual way.’  We then started layering in a growth case: What if we got additional money for sales or IT projects?   Read more about Why you need more than 1 budget[…]

Stop Managing your Business by checking your Bank Balance

A very common mistake I see from startup and small business owners is they manage their business by checking their bank account.  This happens because it is a habit we learned from managing our personal finances.  It’s pretty easy to manage your family’s budget by checking the bank balance before and after you get paid Read more about Stop Managing your Business by checking your Bank Balance[…]

Do You Know the Right Time to Hire?

Developing your business demands considerable time and energy. However, taking some of the work off your own plate by growing your staff may be necessary to really allow your firm to take off. Attempting to determine the right time to bring on additional help can be daunting. Every entrepreneur faces the dilemma: Hiring someone will Read more about Do You Know the Right Time to Hire?[…]

Avoid these 5 mistakes when making a budget

Here are 5 common budget mistakes that can easily be avoided by checking a few metrics – Your Revenue Growth is unreasonable– Revenue is the key to any business and understanding how it changes year over year gives you insight into growth.  So the first thing to check in your budget is Year over Year Read more about Avoid these 5 mistakes when making a budget[…]

how to create a financial projections when you don’t know where to start

First – I think people freeze when creating a forecast because they think the forecast has to be 100% correct or they don’t know where to start – in reality I would start by trying to do the exercise in 30 minutes, take a break for a day and then come back and dive into each area.  Read more about how to create a financial projections when you don’t know where to start[…]