Business Finance Basics: Learn What You Need in 2 Hours

by Scott L. Girard Jr., Michael F. O'Keefe, Marc A. Price

Overview

When you start a business, legal issues can seem complex, even scary. This simple guide helps you ask smart questions and get the right advice. Find out what practices will help you keep your legal matters clear and simple! You will learn key concepts and terms, how to choose an attorney, contract essentials, and what you need to protect (such as processes or intellectual property). Plus the basics of partnership and corporate structures, license and regulation essentials, employment issues, legal aspects of buying and selling, common pitfalls, international business issues—and more. Each of the books in the Crash Course for Entrepreneurs series offers a high-level overview of the critical things you need to know and do if you want to survive and thrive in our super-competitive world. Of course, there's much more to learn about each topic, but what you'll read here will give you the framework for learning the rest.

Product Details

ISBN-13:	9781601634795
Publisher:	Career Press, Incorporated
Publication date:	03/24/2014
Sold by:	Barnes & Noble
Format:	eBook
File size:	2 MB

About the Author

Prior to becoming director of operations at Expert Business Advice, LLC, Marc Price collaborated with the federal government, United States military, major nonprofit organizations, and some of the largest corporations in America, developing and implementing new products, services, and educational programs. Mike O'Keefe is CEO at Expert Business Advice, LLC, president of Pinpoint Holdings Group, Inc., and vice president of marketing for Bracemasters International, LLC. At Pinpoint, Mike's focus is building a strong base for understanding the global marketplace. Mike's passion and talents for cutting-edge business techniques and practices have led to the exponential growth of Bracemasters. Before joining Expert Business Advice as editor-in-chief, Scott Girard, Jr. was executive vice president of Pinpoint Holdings Group, Inc., where he directed multiple marketing and advertising initiatives. His vision and work were also pivotal in the growth and development of Bracemasters International, LLC. Scott has degrees in business administration and English writing and is a published contributor to various periodicals on the topics of economics and politics.

Table of Contents

Foreword 11

Chapter I Getting Off to a Strong Start 15

Staging Your Business for Financial Success 17

True Costs and Key Financial Drivers 19

Building a Foolproof Budget 21

Payment Term Basics 25

Preventing Cash Flow Worries and Woes 30

Understanding the Credit Industry 35

Your Credit Report and Scores 39

Getting Your Financial House in Order 43

Finding and Working with the Right Accountant 47

Managing Your Relationship with Your Lender 51

Tools and Resources 54

Your Business Plan: An Overview 56

The Financing Section in Your Business Plan 59

Chapter II Methods of Financing 61

Acquiring Financing or Funding 63

Getting Money from the Government 67

The Risks and Rewards of Borrowing from Family and Friends 69

Equity vs. Debt Financing 73

Establishing a Line of Credit 75

Using Collateral to Your Advantage 78

What's the Lender Looking for? 81

How to Behave When Applying for a Loan 84

Chapter III Growing Your Business 89

Maximizing Your Cash Flow 91

Getting a Second Round of Funding 95

Forecasting Your Growth 98

Just Grow It! 100

Methods of Growth 102

Growing Global 106

Chapter IV Avoiding the Roadblocks 109

The Dilemma of Stagnated Success 111

Facing Your Financial Fears 114

How Much Should You Share with Employees? 117

Common Financial Pitfalls 120

Ten Tax Mistakes to Avoid 124

Chapter V Day-to-Day Financing 127

Why Cash is King 129

The True Cost of Money and Opportunity 131

The Annoying Ambiguity of Business Banking 134

LIFO vs. FIFO 137

Trade Show Tips and Tricks 141

Time Is Money-How to Get More of Both 144

What is Your Business Really Worth? 147

Appendix: A Detailed View of How to Write a Business Plan 150

Afterword: Where to Go from Here? 163

Acknowledgements 164

Glossary 165

Resources 180

Index 182

About the Authors 187