Sadly, one of every two startup businesses fails within the first three years. But it’s possible to increase your odds by more than 50%. The number one criterion that separates successful startups from failed startups is this: Understanding the numbers of your business. Think about this. You know what you’re going to sell. You know who your customers will be, and you know how you’re going to market. But are you confident you’re charging enough? What will your startup costs come to? How much cash do you ... [continue reading]
Welcome to the ProjectionSmart Blog!
We want to share with you our thoughts on business projections, cash management, small business, entrepreneurship, finance, startups, and business planning.
Hi. I’m Roger Scherping, co-founder of ProjectionSmart®. I remember my first day at a small manufacturing company that I was hired to turn around in the early 2000’s. Right away that morning I took calls from the IRS about some unpaid payroll taxes and from several irate unpaid vendors, the utility company sent a cutoff notice, and two employees came upstairs to complain that their paychecks had bounced. I knew right away I had to very quickly figure out the numbers of our business, if for no... [continue reading]
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