Category: Starting a Business

EBITDA Margin: What is Means, How to Calculate and Why You Should Know This Term

EBITDA Margin: What is Means, How to Calculate and Why You Should Know This Term

Scroll financial headlines and you’ll likely see the term EBITDA mentioned more than once. Like this headline on Yahoo Finance: “Tap These 5 Bargain Stocks With Impressive EV-to-EBITDA Ratio”.  If you aren’t interested in financial analysis, you may wonder what that means to your small business. EBITDA doesn’t just measure the performance of a big business: small businesses can also benefit from knowing what this financial metric says about their business, too.  Why Small Businesses Should Know What EBITDA Means… Read More
How to File a BOI Report in 2024

How to File a BOI Report in 2024

It’s easy, and often relatively inexpensive, to set up a business in the US. While most business owners start a business to meet their own personal and financial goals, bad actors sometimes abuse this system for money laundering, terrorism financing, or other nefarious purposes. They hide behind business entities they create, making it difficult for law enforcement to find and stop them.  As a result, Congress (on a bipartisan basis) passed the Corporate Transparency Act in 2021. It created a… Read More
Must Do Checklist for Small Business Financial Checkup

Must Do Checklist for Small Business Financial Checkup

Every Friday, Margo Burr, a public speaking trainer and Founder of B7 Media Relations, reviews her business finances. Using her accounting software and spreadsheet, she spends about 30 minutes checking in on her business spending and revenue. She also sets quarterly goals and checks in monthly.  “It holds me accountable,” she says, “and helps me see in real time what I spent.” Whether you are a small business owner with a startup, or have several years under your belt, regular… Read More
Our Top 9 Pricing Strategies for Service Based Business Owners

Our Top 9 Pricing Strategies for Service Based Business Owners

Key takeaways: Service providers often struggle with setting prices, afraid that a high price will scare off potential customers, or charge too low a price to create a sustainable business.  Small business owners need to set a pricing structure that helps them attract their ideal customer, while meeting their own financial goals.  There are a number of pricing strategies that can work, based on the type of service you offer and the value you provide.  Research pricing strategies and revisit… Read More
How To Set Your Prices for Product-Based Businesses

How To Set Your Prices for Product-Based Businesses

As a business owner, setting prices may be one of the most frustrating but crucial aspects of running your business. Set prices too low and you may not make enough money to stay in business or to grow. Set prices too high and you may scare off customers.  Finding that “just right” sweet spot is often an ongoing task. Just when you think you have it right, it will probably change. A competitor will copy your product and slash the… Read More
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