entrepreneurs
Growing your business and scaling your business are familiar terms and strategies for entrepreneurs, whether they’re just beginning a startup or have been in business for years. While entrepreneurs may use the terms interchangeably, they differ, which matters to your business. The most common trait the two terms share is revenue growth. How they get there is what distinguishes one from the other. Growth is measured linearly by adding technology, employees, or capital. Scale, however, is when revenue increases without having to expend resources. Processes that scale can typically be done withou...
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While the buildup to selling your company is a flurry of activity where you’re rarely left alone, the aftermath is entirely different — you’re left to deal with proceeds, taxes, and budgeting on your own. How do you adjust to your new financial and emotional reality after exiting your business? Address These Post-Sale Financial ConsiderationsFirst things first: Before doing anything else, you should address a few post-sale financial considerations. Understanding their potential impact makes budgeting and investing easier. Capital Gains TaxesYou pay a long-term capital gains tax on profits from...
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Entrepreneurship involves numbers. It’s as simple as that. However, the way each entrepreneur interacts with numbers, especially when it comes to finances, varies from one individual to the next. Even billionaires like Richard Branson have their struggles. Branson is dyslexic and struggled to grasp the difference between terms like net and gross. And yet, the man has built one of the biggest business empires in Europe. Just because someone has entrepreneurial ambition doesn’t mean they’re comfortable with numbers. But it does mean they need to find the support people and tools to help them go ...
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