by Michael Eckstein | Jul 9, 2022 | Accounting, Basics
Your service offerings impact overall profitability (and personal fulfilment) You started your business because you’re good at what you do. That could be marketing, accounting (like me 😉), consulting, or something else. You’re good at something and...
by Michael Eckstein | Jul 2, 2022 | Accounting, Basics
Cash vs accrual basis Accounting seems simple, at first. It’s just a bunch of transactions and numbers that need to be categorized and reported. But, when you report the numbers is a much bigger issue than you first realize. For simple transactions (like buying...
by Michael Eckstein | Jun 25, 2022 | Accounting, Budgeting, Savings
How to build an emergency fund Saving money and building an emergency fund isn’t fun. In fact, it’s pretty much the antithesis of fun. Saving is the ultimate delayed gratification. Instead of using money today for something you enjoy (or a surprise bill...
by Michael Eckstein | Jun 18, 2022 | Accounting, Budgeting, Cash Flow
Think about burn rate and runway while scenario planning Startups frequently describe their financial health in terms of burn rate and runway (respectively, how much money they’re spending per month and how long until they run out of money). Those are important...
by Michael Eckstein | Jun 11, 2022 | Accounting, Cash Flow, Pricing
4 ways to charge clients upfront New entrepreneurs and business owners frequently fall for the Net 30 trap. They accept Net 30 payment terms (aka, getting paid 30 days after the invoice) because they think that’s just how business is done. They don’t...
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