The Minneapolis office of SCORE (the Service Corp of Retired Executives) reached out to us at ProjectionSmart recently. They asked us to do a webinar on business planning to get people to take at least that first small step toward starting a business. So here we are again. Join Bob and me for a live webinar on Wednesday, May 27 from 9-11 am. We’ll show you how ProjectionSmart can help you plan your startup. Remember that startups that plan are 50% more likely to succeed! In the webinar we’ll review... [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.
I read an April article in Inc. magazine about Mark Cuban, entrepreneur, Shark Tank investor, and owner of the Dallas Mavericks of the NBA. He says that, contrary to popular opinion, this is actually the perfect time to start a business: "Five to 10 years from now, we'll look back and there will be 30 businesses that were created where we'll say 'Damn, why didn't I think of that? It makes so much sense now." Cuban gives two reasons. First, he says forget about capital. It is difficult to get capital ... [continue reading]
We created ProjectionSmart to help entrepreneurs and owners of small businesses under $10 million in sales. Those are the specific people we set out to help. We want to help them see their financial future and understand the numbers of their business. We know that most of them don’t have a finance background and also don’t have a controller or CFO to help them, so we made ProjectionSmart easy to use and simple to understand. So far we’ve helped lots of entrepreneurs and small business owners see where... [continue reading]
Gino Wickman spent many years consulting at small companies. He worked with thousands of businesses and every type of entrepreneur or business owner. In his experience he found that all small companies had basically the same problems. Regardless of their industry, they were all struggling with the same issues. Wickman grouped their problems into six areas: Vision, Data, People, Issues, Process and Traction. Since he knew most small business owners have never been to business school, he knew they didn’... [continue reading]
Most companies are facing trying times right now. Revenues have dropped suddenly and dramatically, and they certainly will stay at reduced levels for at least a short time, but maybe for longer. Companies are having to make decisions about cutting staff, reducing inventory, and reducing expenses. For most companies, these decisions are difficult to make because it’s not often we suddenly find ourselves in these very difficult situations – think 9/11 or the Great Recession. Most of us just aren’t prepared... [continue reading]
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