Business tips from Sense Financial, a provider of Solo 401k and Self directed IRA plans
There are many challenges that new business owners need to prepare for. The initial stage of a business can lay the foundation and set it up for success. However, this stage also requires extra effort from the business owners. What are the considerations that you need to keep in mind to ensure the survival and […]
Real estate is making its comeback in the investment portfolio of average investors, as indicated by an independent survey conducted by Bankrate.com. It diversifies the portfolio while hedging investments against inflation and sudden market movements. If you are a small business owner or self-employed professional with a Roth Solo 401k account, you can invest in […]
One of the most essential jobs for a small-business owner is ensuring that enough money is coming in — at the right time. Managing cash flow well means that you have money to pay bills during slow times. Managing it poorly could mean the end of your business, no matter your revenue. We asked Dmitriy […]
Having access to credit can help your small business thrive — even if it’s facing difficulties. There are a number of financing options for small businesses, but a business line of credit is often the best bet for those with short-term and occasional credit needs. A business line of credit can give your company the necessary working capital to maintain inventory, fulfill […]
“Don’t find customers for your products, find products for your customers.” ~ Seth Godin As a small business owner or self-employed professional, you already understand the importance of creating products that serve a specific need of your target audience. While this strategy is highly effective for any professional service or product, could the same be […]
No one ever said that starting a business and growing it to a sustainable level would be easy. Despite the key role small businesses play in job creation and our economy, credit available to small-business owners from the major banks has shrunk in recent years. At the same time, new sources of small business loans […]
Small business owners and self employed individuals require retirement savings just like their employed counterparts. A GAO analysis of 2013 Survey of Consumer Finances (SCF) revealed that 29% of households with members above 55 years of age or more had neither savings nor any other traditional retirement plans. It depicts a horrible financial picture of […]
Financial problems are the worst nightmares of small business owners; they eat up valuable business resources and cause setbacks. The best strategy is to act proactively and utilize all the available financial resources. Solo 401k might not be the first word that comes in your mind, but it sure does the job. The IRS allows […]
Personal finance is a matter of extreme importance, yet it is among one the most ignored subjects in the U.S education system. According to a study done by the National Foundation for Credit Counseling in 2013, nearly 40% of the American adults rated themselves a C, D, or F for their understanding of personal finance, […]
“Business is a combination of war and sport.” ~Andre Maurois There are many similarities between both business and war starting with the adrenaline rush, strategic planning, and determining the right time for action. However, the most important of these similarities is the need of financial resources and its limited availability poses much greater challenges in […]