Financial problems are classical problems commonly experienced by novice entrepreneurs. Could be a good cash flow but in fact, between the recording and the amount of money is always changing and often times experienced minus. Anyone ever experienced something like this?
The first thing you should realize is true:
In the business principle, any money coming in is actually "NOT" yours. but, it is yours "BUSINESS" you.
If possible, these words were written last big temple at your desk.
I clarify once again, a lot of beginners who open a business and cash flow after running, he thinks it is his money. Though it "WRONG" great!!
Mistakes beginners often combine personal money / personal account to a business account because he think the money was hers. a X chaotic again saving always put personal to account. So, take all personal expenses there. "Consumptive take there, grab wholesale there, take a refuel there, treat take it there and others all take there"
You should grip when holding the money for long operating results because you realize that it's not your money, when for example because you are forced to have to use the money business. Then you must hurry back.
For instance, I would take my own case study.
I always distinguish / separate between transaction accounts, savings accounts and personal accounts, mean?
transaction accounts
Money that effort should go into a business transaction accounts, which is to receive the income and also for shopping / business purposes. Usually its cash flow every day.
savings account
A savings account is an account to accommodate the business net profits each month.
personal account
Well, for the purpose of personal accounts for personal purposes such as: consumer, and a wide variety of personal purposes, including deposited into his wife.
Thus, the difference between transaction accounts, savings accounts and personal accounts are transaction accounts income and expenditure could happen every day depending on the needs of businesses, savings account just to accommodate the net profits each month. While personal accounts for personal use only.
Because in my attempt to position themselves as the owner, (not involved directly every day) then I would never take a salary, I just take the profit sharing that I normally do after closing the year.
At the end of the year, calculated how my company's total net income. Then I take my right as a business owner (only 25%), there uga retained earnings increase the fatherly point effort.
If you are involved in working in your business, in the sense that you go to work on your own character. You mean the owner and employees. You are also entitled to a salary. What is his salary?
It's up to you, but keep in mind!! Just because you are the owner you want to continue to pay your self-love's content. If you need to take most small salary, calculated for the reward (some even do not want to be paid, which is important you know that if you're working it in place of your business and your money does not belong there but that of your business).
So, the better your cash flow, your business should also growing. The trick?
1. "Have the mindset that the existing income belongs to your company and not private money, you should take your part if you pay yourself as an employee or take profit sharing within a certain timeframe. And this also may take too much. Keep in mind, as an entrepreneur, do not be proud if you look cool with all its attributes (3 BB, cool cars, etc.). But business is not growing, but already many years to open a business. "
2. "Finances separate private venture money, with concrete steps have account (either one or surgical name names)."
So first cash flow concerns us as entrepreneurs. May be useful.
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