BY ADINA GRIGORE
Editor’s Note: The Grind is a weekly column that asks a revolving cast of young founders to take us through the daily rigors of running a business, as well as offer up advice on how they achieved milestones or overcame challenges. Follow The Grind on Twitter with the hashtag#ENTGrind.… Read more >
BY EILEEN P. GUNN
Entrepreneurs thrive on a DIY mentality: Do everything you can yourself and don’t pay for anything new until you have absolutely have to. It’s especially difficult to justify hiring financial help like a bookkeeper.
With user-friendly software such as QuickBooks available, many business owners feel they should be able to do keep their records on their own, even as they wrestle with finding the time and wonder if they’re doing things correctly.… Read more >
Do you know how much your business is worth? Most small business owners don’t—making it impossible to plan their exit strategies.
George S. May International, the Park Ridge, Ill.-based consulting firm, surveyed 921 small business owners and found 58 percent haven’t had a formal valuation done within the last year and aren’t anticipating one in the near future.… Read more >
The most successful exits require considerable planning. The sooner you start, the more rewarding your eventual exit is likely to be. In fact, you already may have started planning without even realizing it. Many of the steps involved — including creating an independent board, upgrading financial reporting systems and controls, exploring growth through internal operations, and fine-tuning your company’s strategy — are the same ones required to build a successful company.… Read more >