Tag: budgeting
This Sydney tech startup has built a ‘budgeting app on steroids’ to help you...
Frollo, a company based in North Sydney, has developed an app - also called Frollo - that analyses your bank transactions and recommends ways for you to spend less and save more. Think of it as a budgeting app on steroids.
Why not having three months working capital in the bank is bad for your...
The Australian Bureau of Statistics states that 50% of all SME operations go out of business within three years and over 40% of these failures are due to poor cash management.
5 reasons why your start-up needs to hire a Virtual Chief Financial Officer (VCFO)
There are three major trends in the business world which are driving demand for Virtual Chief Financial Officers (VCFOs).
The rapidly growing number of start-ups...
How to grow your business and profits with three red hot tips from Jason...
Jason Cunningham tells us he is a CPA – a “car parking attendant.” Wait, he means “certified practising accountant.” That’s more like it, eh?
Seriously,...
How to make sure your employees aren’t ripping you off
A common theme among failed businesses is inadequately managed finances and accounting irregularities. As a business owner it is important to have adequate measures in place to protect your finances and assets. An example highlighting this necessity is the recent case with electrical goods retailer Clive Peeters, where an employee allegedly siphoned $20 million of company funds.
Why startups don’t need a budget
The first thing you need to do in order to take the amazing idea in your head and turn it into a fully-fledged company is to raise capital, and the first piece of advice you’ll get is to create a business plan and a forecast. If that sounds like an awful lot of hard work, you're right. If you don’t even know where your next pay cheque is coming from, how can you be expected to have foresight years ahead on the performance of a company that exists only in thin air? It also sounds suspiciously like a budget -- something you thought you’d left behind in the corporate world.
Why startups don't need a budget
The first thing you need to do in order to take the amazing idea in your head and turn it into a fully-fledged company is to raise capital, and the first piece of advice you’ll get is to create a business plan and a forecast. If that sounds like an awful lot of hard work, you're right. If you don’t even know where your next pay cheque is coming from, how can you be expected to have foresight years ahead on the performance of a company that exists only in thin air? It also sounds suspiciously like a budget -- something you thought you’d left behind in the corporate world.
