Skip to content
Trusted Answers From Licensed Business Professionals
FINANCIAL ADVICE

How Should I Think About The Financial Model For A Business Idea?

By The BIDaWIZ Team on March 6th, 2013 at 3:00 pm

One of the first steps in launching a business idea is nailing down the financial model. Typically, the methodology for building a revenue forecast is easier than detailing the current and future expenses. By nature, entrepreneurs almost always under-estimate the amount it will cost to run and grow a business. How should you think about building a financial model? .
-or-
Share |
No Comments
FINANCIAL ADVICE

Should I Start A Business If I Have No Industry Experience?

By The BIDaWIZ Team on January 25th, 2013 at 3:00 pm

The success of a business rarely has to do with the novelty of a new idea. Rather, it more has to do with whether or not management is able to execute on their strategy and goals. Luck and "the big idea" are factors, but its not nearly as important as execution. .
-or-
Share |
No Comments
FINANCIAL ADVICE

When Should I Move Out Of My Home Office?

By The BIDaWIZ Team on January 3rd, 2013 at 11:00 am

Many new businesses will one day reach a point in which working out of a home office becomes more of a hindrance to future growth than a cost savings measure. When should I move into a dedicated office and what are the necessary steps to do so? .
-or-
Share |
No Comments
FINANCIAL ADVICE

Should You Consider Franchising Your Business?

By The BIDaWIZ Team on December 21st, 2012 at 2:00 pm

Many small businesses with a proven model still lack the necessary resources to expand their brand, products and services. Furthermore, finding an independent investor and/or bank to fuel future growth can be very difficult in today's economy. Franchising is another option that small business owners shouldn't overlook. .
-or-
Share |
No Comments
FINANCIAL ADVICE

What Should I Major In If I Want Become An Entrepreneur?

By The BIDaWIZ Team on December 20th, 2012 at 5:00 pm

It’s difficult to determine which major is best for future entrepreneurs. Believe it or not, some entrepreneurs never even attend or finish college and instead put their resources into creating a business. While we generally disagree with that approach, there are entrepreneurs who made the right choice in taking that path, though it’s very rare. Still there are certain things to keep in mind while considering your college major. Read More.

Share |
No Comments
FINANCIAL ADVICE

What Should Businesses Do To Protect Themselves During a Recession

By The BIDaWIZ Team on December 12th, 2012 at 6:00 pm

Many U.S. businesses are still climbing out of the 2008 recession and there's still the possibility that we could fall right back into one within the next couple of years. There's significant uncertainty ahead of us as global economic growth remains subdued and the U.S. has yet to resolve key tax and financial matters related to the fiscal cliff. No matter what happens in the next couple of years, all entrepreneurs need to be prepared. .
-or-
Share |
No Comments
FINANCIAL ADVICE

Factors To Consider When Choosing a Credit Card Processor

By The BIDaWIZ Team on October 17th, 2012 at 5:00 pm

There are many options available in the market for choosing a credit card processor. While having choices is helpful for comparison shopping, it also can get quite overwhelming. To select a processor, you really want to focus on the factors that are most pertinent to your company. .
-or-
Share |
No Comments
FINANCIAL ADVICE

Key Tactics When Negotiating With a Vendor or Partner

By The BIDaWIZ Team on August 30th, 2012 at 11:00 pm

business negotiation tactics
Whether you're negotiating a new vendor agreement, raising capital, or selling your business, there are certain steps that you should follow. .
-or-
Share |
No Comments
FINANCIAL ADVICE

Are Your Customers Paying You On Time?

By The BIDaWIZ Team on August 23rd, 2012 at 8:00 pm

irs definition primary residence
Cash is king as they say. Yet, some businesses don't have an effective cash collection process in place to make sure that their clients pay them on time. It's very easy for businesses to become relaxed after the sales agreement is signed. However, when they aren't collecting cash for goods or services rendered on time, they are essentially extending credit to their customers. Find out how to get paid quickly. .
-or-
Share |
No Comments
CREDIT CARDS, FINANCIAL ADVICE

Protections For Small Business Credit Card Holders Continue to Lag

By The BIDaWIZ Team on August 9th, 2012 at 6:00 pm

Many small business owners are finding that consumer credit cards are providing more financial flexibility and greater protections than business cards. Specifically, the credit card act of 2009 provides significant protections for consumer issued cards. Should you consider a consumer credit card for your business purchases? .
-or-
Share |
No Comments