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StreetShares Blog - The Resource Center for Veteran Small Businesses

StreetShares Blog

The Resource Center for Veteran Small Businesses

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9 Ways to Create a Personal Budget – and Stick to It

By StreetShares on February 16, 2018
Everyone knows that a personal budget is key to financial success, but getting started can feel overwhelming. If you’re tired of getting to the end of your budget before you get to the end of the month, we’re here to help.

Money management is tricky but with discipline and determination, you can make your money work for you. There are several steps to take to create a successful personal budget. Creating a successful and manageable budget will keep you in the green and help you better understand where all your money goes. A personal budget will also help you when you ask for a raise or looking to make more money in your career. You will want to look at two to three months of your spending habits to get an idea of your current spending habits versus your income. This will make it easier to understand how savings will factor into your future. Whether you want to save money for a big trip or retirement, you’ll be able to calculate what you need to save and how long it will take. There are several tools you can use or you can go old school with spreadsheets and a traditional bank account. 

Click here to download a monthly personal budget spreadsheet now.

Create a simple budget that you can actually stick to. Here are nine simple things to take into account:

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5 Things All Vet-Owned Small Businesses Need to Know about the New Tax Laws

By StreetShares on February 15, 2018
How will the latest tax bill affect your veteran-owned small business?

There's a lot of confusion and concern about how much, how little or if any money at all will be saved by the new tax laws. Here's a quick look at five things you need to know about the new tax bill for your vet-owned small business. We're not tax or financial advisors so this is just for your information and is not meant to be professional financial advice. However, this informative article can be a great conversation starter over coffee with your accountant or lawyer.

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8 Social Media Marketing Strategies to Foster Your Veteran-owned Small Business 

By StreetShares on February 14, 2018

Even for veteran small business owners who are accustomed to multi-tasking and problem-solving, the entrepreneurial quagmire is still a reality. Entrepreneurs don't want to stop creating products and enhancing their services in order to spend time marketing. Running a business is a juggling act that requires developing the product or service, attending to administrative demands, and managing professional relationships. So where does that leave time to trumpet the company value propositions with a social media marketing strategy?   

In order for a business to stay vibrant in today's economy, it’s necessary to establish your brand, create brand awareness and get the word out. Even if your business is brick and mortar, it’s even more important to stay relevant and promote your business online.

Learn more marketing trends in the ebook, >"/>

The idea of utilizing social media to promote your business might seem tedious but think of it this way: online presence isn't just shameless promotion if approached correctly, it's an opportunity to connect with your customers, other servicemembers, veterans and veteran business owners and to start smart and helpful conversations. Here's a basic social media strategy that will boost your company visibility without investing a ton of time or money. 

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5 Small Business Trends for Vet-owned Businesses

By StreetShares on February 13, 2018

As your veteran-owned small business enters into a new calendar year, you should be aware of some of the trends on the rise for small businesses in 2018. Rethinking your business strategies and examining current trends are great ways to refresh your business outlook, reestablish your goals, and ultimately make your small business even more successful. Here are three of five small business trends to get your started. To get the other two, which include marketing strategies and company culture, download the ebook now

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7 Things to Know About the Military’s New Blended Retirement System (BRS)

By StreetShares on February 12, 2018

A huge change has happened for many of our nation’s service members in the form of a new retirement system. The military has begun implementation of the Blended Retirement System, affecting not only military members who will begin their careers in 2018, but also those who currently serve. Why the change? As it stands, only 19 percent of active duty members and 14 percent of reserve members will actually hit the 20-year service mark required to receive retirement benefits from the military – about 1/6 of its population, according to the DoD.

Click here to download our guide to military retirement: Blended Retirement  System

The Department of Defense has rolled out the Blended Retirement System to serve the remaining 80 percent of service members currently left out in the cold. The goal is to offer a retirement system that aligns more closely with a civilian 401(k) plan, as well as to offer benefits for those who serve their country in uniform but not for a full 20-year career. While this new system is designed to save the government money, many benefits are available for military members who understand the new system and want to build their savings for retirement as a veteran who may be seeking to open a small business or become a government contractor with a certification as a veteran-owned smalll business. 

Below are some highlights to help you understand the alterations that will result from the implementation, as well as dig in to better define the significance of these changes. None of this is financial advice. It's just meant to be informative.

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5 Inspiring TED Talks for Your Veteran-owned Small Business

By StreetShares on February 9, 2018

Whether you’re a thriving veteran small business owner looking for some inspiration to get you through the day, or a fresh-off-the-press entrepreneur seeking a little sage advice, here are 5 TED talks we believe will inspire you to dream bigger, work harder and never give up:

1. Simon Sinek: How Great Leaders Inspire Action


“People don’t buy what you do, but why you do it.”

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Legacy vs. Blended Retirement System (BRS): How Your Pension is Calculated

By StreetShares on February 7, 2018

A quick Google search on the subject of retirement readiness quickly resulted in an overarching feeling that Americans have rapidly been falling behind. For instance, one-third of Americans currently have no retirement savings, according to a recent GoBankingRates survey. So what about you? Will you have enough saved in retirement? Will your retirement be sustainable?

For military members, ‘retirement’ has taken on a whole new set of complications with the updated pension system the government is rolling out in 2018. We’ve provided a guide and outlined the general implications of this Blended Retirement System (BRS), such as whom it affects and when the changes will begin to be implemented; however, there are deeper weeds to dig into about how specifically this new BRS plan will truly affect military members’ retirement from a “numbers” perspective.

Let’s look at how the military’s pension plans, old and new, work and how to think about building your savings for retirement.

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5 Books Every Veteran Small Business Owner Should Read

By StreetShares on February 1, 2018

 

Veteran business owners and military spouse business owners need mentors who can give them great advice. Thankfully, books can be those mentors that help drive their mission forward. Here are five we heartily recommend:

1) Rise: The Veteran’s Field Manual for Staring Your Own Business & Conquering the Online Economy by Wes O’Donnell

What it’s about: 
Military veteran and entrepreneur Wes O’Donnell provides step by step instructions for veterans looking to start their own business. The book is full of tips and detailed, real world examples—and an awesome appendix filled with veteran-specific business resources.

Why we love it: 
We believe veterans make natural entrepreneurs and are an invaluable asset to any business. We love O’Donnell’s honesty as he shares events from his experience—including embarrassing mistakes he made in his own business.

Best quote: 
“Being an entrepreneur is like jumping out of an airplane and assembling your parachute on the way down.”

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StreetShares Secures $23 Million Equity Funding to Scale Award-Winning FinTech Platform for the Military and Veteran Market

By StreetShares on January 24, 2018

 

WASHINGTON, D.C., January 24, 2018 – StreetShares, Inc., the leading small business funding and government contract financing company serving the military and veteran market, announced today it has completed its Series B funding round, raising $23 million in fresh equity capital. The Series B round was led by a $20 million investment from Rotunda Capital Partners, LLC, and included an additional $3 million from existing investors, including veteran-focused venture firm, Stony Lonesome Group.

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Tips from a CFO: Get to Know Your Cash Flow and Receivables Turnover Ratio

By StreetShares on January 16, 2018

Watch your receivables turnover ratio to keep your business healthy

This post is a guest submission from Manuel “Manny” Cosme, President and CEO of CFO Services Group, which provides accounting solutions for small and growing businesses. The views and opinions expressed in this article are those of the author and do not necessarily reflect the official opinions, policies, or positions of StreetShares or any of its affiliates.

Do you know when your next client or customer payment is coming in? Is it likely to arrive on time? If you can’t answer these simple questions, you may have cash flow troubles brewing – and no early warning system in place.

As a small business owner, you know the pain of waiting on a check that’s “in the mail.” Unpredictable cash inflow and outflow can create chaos and stress. (Not to mention panic on payroll day.) We encourage business owners to get a handle on your receivables turnover ratio as soon as possible, and to check it regularly. Understanding and managing your cash flow can help avoid ugly surprises and help you know when to ask for a small business loan or line of credit in advance.

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