Category: Starting a Business

Cash is king for business owners, plenty of it can make your dreams come true, and a lapse in cash flow can sink everything. One of your most important expenses as a business owner is payroll, and things could get a lot pricier starting Jan. 1, 2020, thanks to a change in overtime rules. New Overtime Rule In 2004, the US Department of Labor (DOL) established $455 per week as the earning level at which employees would become exempt from… Read More

A balance sheet details your company’s assets, liabilities, and shareholder equity at a specific time. An income statement shows what income is going in and what spending is going out, detailing a net profit or loss for a company. Balance Sheet Template Income Statement Template What is a balance sheet? A balance sheet is a financial statement of what a company owns, what it owes, and how much shareholders invest.  The balance sheet formula is: Shareholders’ equity + Liabilities =… Read More

Over a million lawsuits are filed in state courts every year. And, according to one source, all of us have a 10% chance of getting sued in any given year and a 33% chance of getting sued during our lifetimes! This is scary information given that being on the losing end of a lawsuit can be financially devastating.  As a business owner, you have special cause for concern. That’s because if your business is sued and ordered to pay a… Read More

Traveling on the job might sound like a fun way to see the world, but too much of it can take a serious toll on your health and well-being. In fact, a recent study suggests links between frequent business travel (those with more than 14 nights away from home per month) and health risks such as a higher body mass index (BMI), anxiety, depression and sleep disorders.1   Whether you work in the travel and hospitality industry or are just going… Read More

Becoming “the boss” can be challenging. After all, there’s more to running a business than producing or providing a good or service. Business owners must adapt and grow alongside their business, and in doing so, hone the skills necessary for success -- leadership, communication, industry expertise, etc. The demands of simply running a new business don’t always make growth an easy feat. Improving your business skills is an ongoing process, though in some cases, growth will be inevitable. New challenges… Read More