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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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6 Ways to Revamp your Small Business Budget
| StreetShares Blog

By StreetShares on July 12, 2018

There’s always room for improvement! Even successful businesses are always on the lookout for ways to reduce costs and reinvest more money. That’s why as a small business owner, you need to know exactly where and how your money is being spent. You may find that restructuring your budget is necessary to help your veteran-owned small business reach its goals. Consider these six simple ways to revamp your small business budget and work your way towards financial freedom!

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9 Low-Cost Ways to Invest in Business Operations
| StreetShares Blog

By StreetShares on July 11, 2018

Small business owners must constantly invest in their business’ operation. This may sound like an intimidating cost, but you can invest in your business operations without a big cash commitment- the trick is to make the investment part of your core values system. Here are nine effective and cost-efficient ways to invest in business operations and jump start your small business growth!

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5 Ways to Save Money Without Even Realizing It
| StreetShares Blog

By StreetShares on July 9, 2018

Small business owners must spend prudently. At the same time, they must also set money aside. Some of that money should be for personal needs, goals, and retirement. But, small business entrepreneurs must also save to grow their business, retain employees, and satisfy customers.

Business owners must be masters at managing their budget. A new business can basically count on cash flow problems from the beginning- they see money drain while they wait for income. Unfortunately, without cash on hand or at least accessible, the business has no liquidity; its only value is negative. While it’s impossible to turn things around overnight, there are easy ways to save money without realizing it and get into good financial habits!

 

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Why Your Small Business Needs to be Mobile Friendly
| StreetShares Blog

By StreetShares on July 5, 2018

The digital revolution is here. Today, over 2 billion people use smartphones across the globe and the numbers continue to rapidly grow. As a result, smartphones are opening fresh new opportunities for commerce. If you examine the Google Analytics data of your business website, chances are you’ll notice that most of your traffic comes from a mobile device. A small business looking for growth can take advantage of this massive number of potential clients by creating digital marketing platforms that are mobile friendly and suit the needs of these users. We’ll explore why your veteran-owned business needs to be mobile friendly and how you can take advantage of this technology to continue to grow your business.

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Human Resources Needs Resources: Why You Need to Fund HR From Day One
| StreetShares Blog

By StreetShares on June 29, 2018

Human Resources doesn’t come free. And, unfortunately, small businesses commonly find managing HR issues a complicated and expensive problem. A business may not need an official Human Resources department until it reaches 150 or more employees, but HR issues start on day one. Even if your business never reaches this employee threshold, your company will have the same problems as a bigger one- just on a smaller scale.

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How Much Debt is Too Much?
| StreetShares Blog

By StreetShares on June 27, 2018

Business owners must run two sets of books- one for their business budgets, and one for their personal budgets. And, they need to definitively separate their business and personal debts. Staying disciplined is tough, especially in the beginning when cash flow is tight. There’s always that temptation to put business revenue in your pocket and pay your personal bills out of the same pocket. Unless you clearly separate your business and personal financials at the start and stick to it, you’ll just end up in a cycle of borrowing from one to pay the other. You might, by coincidence, cover all your obligations- but the risk of loss will endanger your business.

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What Are Cash Flows and How Do I Improve Mine?
| StreetShares Blog

By StreetShares on June 25, 2018

Just as the name suggests, cash flow involves the money coming in and going out of your business. If more money is coming into your business than moving out, you have a positive cash flow. This not only indicates that your business is gaining funds, but it also ensures you can meet your business needs- such as settling any outstanding debts, making investments, paying your employees, and managing other expenses. A positive cash flow is essential for business growth. However, if more money is flowing out of your business than is coming in, you are at risk of being overdrawn and unable to meet your vital expenses. Let’s explore how you can improve your cash flow and use that to achieve your business goals.

 

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You're Never Too Small to Get Hacked: The Importance of Small Business Data Security
| StreetShares Blog

By StreetShares on June 20, 2018

Sony, Target, Facebook... it seems that every day another high-profile company is in the news for getting hacked and having their internal communications and customer data exposed. You might think that your business isn't big enough to get hacked, but businesses of every size are a target- and the effects of a data breach on a small business could be devastating. When it comes to customer information, transparency and data security are essential. So what’s the best way to fend off hackers and maintain customer trust? Here are five tips to help you keep your customers’ information safe.

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How Do You Complete a Contract When You Don't Have Any Money?
| StreetShares Blog

By StreetShares on June 18, 2018

When it comes to government contracting, the major issues always seem to come back to money. Like it or not, the world of GovCon revolves around the mighty dollar, and operating costs can be significant. Anyone who’s in the field knows the level of competition for those contracts- and the length organizations will go to secure them.

You’ve done all the vital industry networking, you’ve assembled a team you trust and know can get the job done, and you’ve submitted a winning proposal. Once you win that contract, the next step needs to be securing your funding for the project. After all, it can take anywhere from 30 to 90 days after delivery for the government to pay you. So what happens when you have an abundance of contracts secured, but no funds for payroll, materials, and any other overhead cost that might come into play? You need to secure outside funding. Here are the best options for bolstering your company’s bottom line. 

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The Demystification of Diversification: How Diversifying Can Work Magic on Your Portfolio
| StreetShares Blog

By StreetShares on May 10, 2018

Diversifying your investments - it's a phrase you've heard, and you know you should do it, but what does it actually mean? Essentially, it means that putting all of your financial eggs in one basket is a bad idea. The market is notoriously unpredictable, and diversification will play a vital role in fortifying your interests. You can reduce your investment risk, stabilize your income flow, and have a better shot at long-term financial success by investing in a wide variety of different assets that are in line with your goals and risk tolerance. 

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