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Charlotte – Do you own your own business? Feels like the beginning of an infomercial! To make matters worse, managers wear so many different hats that it can be very overwhelming. If you’re a business owner, you know what I mean. Here are some helpful tips and strategies.
Create a business plan: This is a roadmap outlining your business goals, strategies, and financial projections. Helps spot potential challenges and opportunities. It should outline your marketing and sales strategy, including competitor analysis, pricing strategies, and marketing plans.
Create a budget: A budget is a financial roadmap outlining your expected revenues and expenses. To understand your cash flow, reduce costs, or identify areas where you can invest more money, you need to create a budget.
Separate your personal finances from your business finances: Separating your finances makes it easier to track expenses and prepare for taxes. When filing taxes, you must provide detailed accounting of your business expenses. Mixing personal and business expenses can make correct accounting difficult.
We have been working with small business owners for over 20 years and are happy to help.
Let us help you find a clear purpose.
The information contained in this article was released by Dunham & Associates for use by local Blueprint Financial Advisors.
For more information, please call (704) 817-4480 Option 2 or email mmiller@fulcrumwealth.com.
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