Starting an online business begins with filling a need and building credibility, but the factors that go into making your online business a smashing success don’t stop there. While the barriers for setting up a company are low, the majority of people starting an online business fail largely due to mistakes that seem obvious in […]
Finances. As most of us know in our daily lives we go over our finances all the time especially when we have bills to pay. We use finances to go over our bills to see how much were spending, how much were making, and to budget out where we can save. To be honest now most banks offer help to help you manage your finances so you can keep track of your spending, which is very important if you want to stay in control of your money.
Well, the same goes for business and it is even more important the bigger the business. You have to always be in control of your money and always find ways to save. The more you save the better you can never go wrong with saving and the way to do that doesn’t always have to be with cutting labor. That is a last resort if your business is failing and you need to lay off employees to save the business. But with you need to try to on your controllable’s.
Your controllable’s include lets say for example, it may be tools, supplies, vendors, food products, brands, etc. Lets say with supplies you may be getting your art supplies from one company that is charging you twice as much as another company that may offer a discount for getting a bulk of those supplies. If its transportation maybe you can consider controlling operating expenses. There are always ways to cut back and save and in a lot of cases doing inventory on a monthly basis can help you to see where your at. Remember that knowing your finances are very important and is very effective to a business.
Planning and ahead and always saving is the best way to go. You never know what may happen so having money set to the side in case of emergency is the way to go. Have yourself a check list, binder, receipts, bills, etc. to stay on track of your finances. Even if you ask your bank to help organize your finances so you remain ahead of the profit you make as a business.
I will be making more post on tips for running a business and I will be creating a page soon under the artist tips page for those looking for advice to run a cost efficient business. Thanks for reading and I hope this helps. Stay Tuned.
I’m gonna be honest with everyone I’m not alone in saying this because a lot of people have gone through this too. Don’t ever let what happen to you in your past put you down. Especially when it is something that wasn’t good for you, I was married had a toxic relationship for years and even was giving up what I love to do just to keep her happy. But I came to realise that I was giving up on myself because I thought I could make someone else happy and thought that love could be bought. I had a nice website before was starting to get well known, was making some money from my blog and I was giving all that away because of wrong decision I made in the past! Never give up although I’ve moved on and had family and friends to get me back on my feet. I almost had a accident that almost caused me my life and I’ve learned to never hold on to something that isn’t meant to be! My message to you Entrepreneur and artist or to anyone else that has gone through this or worse “you can succeed and it’s never to late to try again”. Its taking me time and it’s a process but I can and I believe I can become that artist/Entrepreneur I want to be. And my goal is to help others that may need help on where to start and to offer suggestions on what they need to do. If you can repost or share to help someone that just needs that little push to get them the Entrepreneur spirit!