Category: Running a Business

Business Lifecycle Stages – The Importance of Funding at Each Stage

Business Lifecycle Stages – The Importance of Funding at Each Stage

Entrepreneur Tara Bosch sold her company, Smart Sweets, in 2020 for $360 million. She worked hard in the early stages of her business to protect her ownership and equity.  “When I was launching Smart Sweets, I was kind of in that era where startups were raising huge amounts of money, and raising what in itself felt like something that was celebrated, and not the fact that the money itself was just a vehicle to the real accomplishment, which was executing… Read More
Common Mistakes That Hurt Your Business Credit and How to Avoid Them

Common Mistakes That Hurt Your Business Credit and How to Avoid Them

Key takeaways: Strong business credit can make it easier for businesses to qualify for certain types of financing.  Business owners who check their business credit reports may find mistakes on their reports.  Some errors can significantly impact creditworthiness and make it harder to get financing or other benefits.  Understanding what to do if you find mistakes on your credit reports is the first step toward fixing them.  You may know that checking your business credit reports is a smart idea.… Read More
Is an MBA Worth It in 2024?

Is an MBA Worth It in 2024?

When Camilla Jeffs went back to school to earn her MBA, she was 36 years old with five young children. “I had yearned for years to be in the corporate world and once my youngest turned three, I seized my opportunity,” she says. “I was one of the oldest in my cohort at BYU's full time MBA program and intentionally took 21 credits each semester. I wanted to learn everything!”  She started several businesses before she purchased KohlerHaus Remodeling Co,… Read More
Cash Flow Forecasting 101: A Survival Guide for New Small Businesses

Cash Flow Forecasting 101: A Survival Guide for New Small Businesses

As a small business owner, knowing how much money your business will bring in and spend during the next month, quarter, or year, can be key to making sure you have enough cash to keep your business going. That cash in/cash out formula is the essence of cash flow forecasting. But unless you have a strong background in finance, you may find the cash flow forecasting process daunting. It doesn’t have to be. Here we’ll share what cash flow forecasting… Read More
The Biden Plan to Cap Credit Card Late Fees and Does It Apply for Business Cards?

The Biden Plan to Cap Credit Card Late Fees and Does It Apply for Business Cards?

I was on vacation when I forgot to pay one of my credit cards. When I returned home a few days later I got a notice that my payment was late, and that my account was assessed a late fee.  I was annoyed at myself—and by the fee—but at least I could take comfort in knowing I’m not alone. The Consumer Financial Protection Bureau (CFPB) reports that American consumers are charged some $14 billion a year in late fees.  That… Read More
Hard Inquiries vs Hard Credit Checks vs Derogatory Marks: What You Should Know

Hard Inquiries vs Hard Credit Checks vs Derogatory Marks: What You Should Know

When it comes to understanding what affects your credit scores, the lingo can be confusing. What are hard inquiries vs hard credit checks? What about derogatory marks?  And how do any of these fit into the credit score equation? If you are thinking about applying for credit personally or for your small business, or if you’re trying to boost your credit scores so you can get better financing in the future, understanding these terms and what they mean for your… Read More