We want to share with you our thoughts on business projections, cash management, small business, entrepreneurship, finance, startups, and business planning.



You don’t want to be an accountant, and you don’t have to be one to run your own small business. You’ve got a bookkeeper to take care of your accounting, and you have a CPA to do your taxes. But in order to talk intelligently to your banker, your managers, or other small business owners, there are a few finance terms that you simply must understand. Don’t worry; these concepts are easy to understand when they are explained simply. In fact, you probably already understand them just from your experience... [continue reading]

I met with a new client this week. They are an excavating company that clears, fills, and grades land before a building is built. The managers are all young and know their business very well. They want help establishing the systems and processes that they know they need to grow their business profitably. There is one area in particular about which they knew very little, and that’s financial reporting. I don’t think any of them even knew what an income statement was. But since they understood their bus... [continue reading]

Assets equal Liabilities plus Owners Equity. Debits equal credits. Sales minus cost of goods sold equals gross margin. Have I lost you yet? One of the reasons people dread the idea of doing financial projections is that they don’t like accounting. No, wait. They REALLLY don’t like accounting. They think that accounting is so esoteric and so complicated that they couldn’t possibly understand it -- like nuclear physics or the theory of relativity. When I was a CFO, I tried to explain financial statem... [continue reading]

I recently read this article at The BluePrint. I like it because it nicely explains how a financial projection is done, and because it correctly points out that the most popular small business accounting packages like QuickBooks simply can’t help you do a financial projection. They’re just not made for that. This is the need that ProjectionSmart meets so nicely. The article explains that large companies have big finance staffs and expensive ERP programs that have everything they need to produce great ... [continue reading]

If you are considering starting your own business, please join Bob and me on Saturday, January 18, 2020 for our next workshop, called “The ProjectionSmart Proof Plan.”  We are once again holding this workshop through the Minneapolis office of SCORE (Service Corp of Retired Executives). Statistics show that the best way to help your new business succeed is to plan! Businesses that have a plan succeed far more often than those that start without a solid business and financial plan. We’ll show you the si... [continue reading]


Tag Cloud

[ ProjectionSmart ] [ startup ] [ numbers ] [ succeed ] [ fail ] [ Planning ] [ Plans ] [ Budget ] [ Projection ] [ Number ] [ Plan ] [ Balance Sheet ] [ Cash Flow ] [ control ] [ failure ] [ crystal ball ] [ financial picture ] [ future ] [ options ] [ risk ] [ model ] [ income statement ] [ P&L ] [ equity ] [ bizowner ] [ micro-business ] [ entrepreneur ] [ Proof Plan ] [ banker ] [ investor ] [ mistakes ] [ profit ] [ cash ] [ mistake ] [ sales ] [ margin ] [ markup ] [ margin percentage ] [ business plan ] [ business planning ] [ bootstrap ] [ bootstrapping ] [ debt ] [ bank ] [ investors ] [ success ] [ turnaround ] [ Growth ] [ financial statements ] [ fear of finance ] [ see the future ] [ confront your concerns ] [ proof ] [ forecast ] [ look ahead ] [ financial model ] [ financial projection ] [ failure rate ] [ first year ] [ decision making ] [ sales forecast ] [ expenses ] [ insights ] [ SCORE ] [ The Blueprint ] [ projections ] [ templates ] [ spreadsheets ] [ loan ] [ accounting ] [ Gross margin ] [ gross profit ] [ net income ] [ better business decisions ] [ financial projections ] [ overhead ] [ accounts receivable ] [ accounts payable ] [ revenue per employee ] [ business plans ] [ Finances First ] [ crisis ] [ scenario ] [ Predict ] [ CPA ] [ accountant ] [ spreadsheet ] [ Cuban ] [ manage ] [ companies ] [ subscriptions ] [ start ] [ business ] [ entrepreneurs ] [ create ] [ confidence ] [ Startups ] [ small business ] [ cash flow statement ] [ entrepreneurship ] [ cash basis ] [ accrual basis ] [ podcast ] [ see ] [ pandemic ] [ banking ] [ regulatory ] [ decisions ] [ finances ] [ accrual ] [ taxes ] [ RAAP ] [ cash management ] [ financial impact ] [ troubled ] [ strategy ] [ peace ] [ struggling ] [ reasons ] [ banks ] [ FranNet ] [ franchise ] [ information ] [ intuition ] [ proactive ] [ reacting ] [ tactics ] [ survey ] [ tool ] [ statement of cash flows ] [ vision ] [ goals ] [ subscription ] [ Excel ] [ QuickBooks ] [ understand numbers ] [ costs ] [ scale ] [ advisor ] [ prediction ] [ trusted advisor ] [ client ] [ benefits ] [ Process ] [ monthly ] [ forward-looking ] [ forward ] [ backward ] [ staff ] [ modeling ] [ predictions ] [ pricing ] [ reports ] [ Linked User ]

Five stars

"ProjectionSmart broke down and simplified the costs and cash flow of running a small business. It helped me get an idea of what to shoot for when I start my business."
~ Luke, startup entrepreneur

Five stars

"ProjectionSmart is truly an invaluable tool for both start-ups and established businesses looking to get financials in order. I am in the process of getting a start-up put together, thus creating a valid projection of revenue and expenditures will help get funding and create a solid plan to succeed. Super easy to use and intuitive! "
~ Marissa, Entrepreneur

Five stars

"I feel like ProjectionSmart gave me a very thorough and accurate report of projections that were easy to understand!"
~ Hannah, small business owner

Read more reviews