Understanding Your Profit and Loss Statement
There are a few financial reports that are essential for you to understand to operate a healthy business. Today we’re exploring your Profit and Loss Statement. If you’re like most entrepreneurs, understanding and managing the financial aspect of your business isn’t your favorite thing to do. I get it – you didn’t start your business […]
Business Growth: Are you ready?
After you get your business launched and operating, growth is typically the next phase. Business growth is a necessary part of your entrepreneurial journey if you want to survive and thrive. And while business growth is exciting, it’s essential that you have some key things in place and have a clear understanding of when your […]
Why and How to do a SWOT Analysis
If you’re looking to grow your business, figure out how to stand out from the competition or simply need to analyze the current status of your business, it’s time to do a SWOT analysis. What is a SWOT analysis? A SWOT analysis is a process used to identify the strengths, weaknesses, opportunities and threats of […]
Time Management is Essential to Success
There are only so many hours in the day and for the busy entrepreneur managing those hours often feels like a daunting task. Many founders I talk to feel uncertain about what to prioritize, overwhelmed by the lack of structure in their lives and unsure how to make the most of each day. The truth is […]
The 7 Business Support Services You Need
The Biz Foundry is the hub of entrepreneurship in the Upper Cumberland region of Tennessee. As a non-profit organization, we offer the entrepreneur community a centralized place to get access to free and affordable business support services needed to succeed. We’ve found that entrepreneurs often struggle with finding the right answers to their questions and […]
Why You Need to Say No to Entrepreneur FOMO
I recently stumbled onto an interesting Forbes article titled, “FOMO May Be A True Liability for Millennial Entrepreneurs. It highlighted why millennials tend to struggle with focus during their entrepreneurial journey. And while the article cited research on this phenomenon largely occurring with millennials, in my experience entrepreneur FOMO occurs often with entrepreneurs of all […]
Why You Need Door to Door Marketing
When was the last time you went door to door in your community to spread the word about your business? I’d guess it’s been a while. You might even think the idea of doing so is a big waste of time. But I’m here to tell you that door to door marketing can be a […]
Why you need a lead magnet
Acquiring new customers is the most difficult, expensive part of running a business. So how do you get the attention of an interested lead? Enter the lead magnet. What is a lead magnet? A lead magnet is a complementary product or service that you offer a prospective customer in exchange for their contact information. From […]
Startup to Profitability
Does your business pay you a liveable wage? If so, that’s a huge win, congrats! If not, don’t fret, you aren’t alone. Many small business owners struggle to take their business from startup to profitability. So if you are burning through savings, working a job plus your business, or living as minimal a lifestyle as […]
Bookkeeping vs Budgeting: Why You Need Both
Now that 2022 is over and a new year is ahead, it’s time to start getting your books in order. Financial tasks tend to make many entrepreneurs want to run and hide, we get it money stuff can be scary! So, let’s start with the basics – understanding the difference between bookkeeping vs budgeting and […]