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https://www.theelpodcast.com/top-financial-mistakes-entrepreneurs-make-creating-new-business/ A Resource for Business Book Lovers Sat, 27 Feb 2021 15:51:00 +0000 hourly 1 https://wordpress.org/?v=4.2.38 https://www.theelpodcast.com/top-financial-mistakes-entrepreneurs-make-creating-new-business/#comment-146 Thu, 10 Sep 2015 10:16:00 +0000 http://www.theelpodcast.com/?p=575#comment-146 You need to understand how each dollar is derived. For instance, average revenue per customer (ARPU) gives a general look at the financial health of a company and can be used to measure against a peer group, but analyzing high revenue accounts will provide valuable data on a company’s most lucrative customers.

]]> https://www.theelpodcast.com/top-financial-mistakes-entrepreneurs-make-creating-new-business/#comment-142 Wed, 09 Sep 2015 11:37:00 +0000 http://www.theelpodcast.com/?p=575#comment-142 It is widely known that new entrepreneurs should find a mentor. Every CEO has someone they can talk to about the ups and downs of running a new company, someone who helps them make the tough decisions. This same adage goes for keeping your money organized.

]]> https://www.theelpodcast.com/top-financial-mistakes-entrepreneurs-make-creating-new-business/#comment-140 Mon, 10 Aug 2015 14:11:00 +0000 http://www.theelpodcast.com/?p=575#comment-140 Many entrepreneurs start their business using a personal credit card. However, as you well know, business expenses are often much higher than personal ones, so if you are unable to pay off your balance, it will start hurting your personal credit score. When your credit score drops, it’s going to affect all your financial transactions, both business and personal.

]]> https://www.theelpodcast.com/top-financial-mistakes-entrepreneurs-make-creating-new-business/#comment-92 Mon, 29 Sep 2014 21:51:00 +0000 http://www.theelpodcast.com/?p=575#comment-92 Good stuff. I am writing an article on a similar topic and I found this helpful.

]]> https://www.theelpodcast.com/top-financial-mistakes-entrepreneurs-make-creating-new-business/#comment-90 Wed, 24 Sep 2014 01:56:00 +0000 http://www.theelpodcast.com/?p=575#comment-90 I think #1 and #2 resonate with me the most. Also, I have learned as an entrepeneur that most things take much LONGER than you had planned for. Great tips, Wade!

]]> https://www.theelpodcast.com/top-financial-mistakes-entrepreneurs-make-creating-new-business/#comment-89 Tue, 23 Sep 2014 13:30:00 +0000 http://www.theelpodcast.com/?p=575#comment-89 The cash flow of my business is unpredictable, at best. That’s what I’m working on fixing between now and the end of the year. The biggest thing that I missed when I started my business was learning how to create regular income. I would talk projects that have start and end dates without knowing when the next project would start. If I were to do it again, I would get more aggressive with getting clients onto maintenance schedules.

]]> https://www.theelpodcast.com/top-financial-mistakes-entrepreneurs-make-creating-new-business/#comment-88 Tue, 23 Sep 2014 10:42:00 +0000 http://www.theelpodcast.com/?p=575#comment-88 I’ve made the mistake of investing in “new” before determining that I really needed it. I fell prey to a false sense of urgency many times.

]]> https://www.theelpodcast.com/top-financial-mistakes-entrepreneurs-make-creating-new-business/#comment-87 Tue, 23 Sep 2014 02:11:00 +0000 http://www.theelpodcast.com/?p=575#comment-87 Oh gosh, probably made all of those mistakes. Especially the needing the ‘new’ and biting off more than I can chew. Great posts!

]]> https://www.theelpodcast.com/top-financial-mistakes-entrepreneurs-make-creating-new-business/#comment-86 Tue, 23 Sep 2014 00:43:00 +0000 http://www.theelpodcast.com/?p=575#comment-86 Thanks Wade, great article. Would appreciate your valuable insight on an effective, low-cost approach for new online business owners.

]]> https://www.theelpodcast.com/top-financial-mistakes-entrepreneurs-make-creating-new-business/#comment-85 Mon, 22 Sep 2014 20:43:00 +0000 http://www.theelpodcast.com/?p=575#comment-85 Great post Wade. I don’t know what Kevin Jordan is talking about :^)….I would love to meet the people that didn’t make any of them!

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