If you look up the word “bootstrapping” in the dictionary, you will find definitions that include “a means of advancing oneself”, “a means of accomplishing something”, “relying entirely on one’s efforts and resources”, and “to help (oneself) without the aid of others”. Most people who help start small businesses use the word “bootstrapping” only in relation to money. Their definition would be launching a business with as little outside money as possible. Another way of putting this is, getting your busin... [continue reading]

Hi, I’m Roger Scherping for ProjectionSmart. So, what exactly are financial statements? Here's everything you need to know in 2 minutes. The first financial statement is the balance sheet. The balance sheet has 2 sides. On the left side is everything that your business OWNS. So, cash, accounts receivable (the money your customers owe you), inventory, equipment like trucks and computers, and maybe some patents or goodwill. So the left side total is the sum of everything your business OWNS. ... [continue reading]


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