#022: Planning Your Businesses Financial Path
How can you be sure of what your business can afford and what it can’t?
As a new start-up, you’ll be faced with a plethora of choices for tools, technologies, growth strategies, and much more to choose between. The key is to not over-extend yourself by letting your expenses get out of hand.
Modeling your businesses finances and projecting revenue and expenses is an integral way to provide you clarity for what options you have. Without this clarity, you’ll be hard-pressed to make educated decisions about where you should invest.
In this episode, the guys discuss how they have evaluated business investments in their first year.
You’ll hear about the processes they use, and even hear about some tough decisions they have made when faced with these choices; even some desired technologies they’ve been forced to say no to.
· Ben talks about border crossing experiences in South-East Asia. [3:30]
· The Treps Hack of the week – Have redundancies for necessary items. [10:30]
· The guys get into the main topic of the episode – Planning Your Businesses’ finances. [21:50]
· What steps can you take to begin planning for your businesses financial future. [28:00]
· Planning your family finances. [30:06]
· Ben talks about a tough decision he made to pass on a recent opportunity for his business. [43:50]