Bplans Blog

For many businesses, the people you employ are your most valuable—and most expensive—asset. Payroll often makes up a large portion of a business’s expenses, so it’s important to spend some time working on this portion of your forecast. But, if you’re just starting out or are working on a business plan for a new idea, you probably don’t have anyone on the payroll yet and maybe don’t even know what your staffing plans are. That’s OK and the exact reason why you should work on a personnel forecast.

Securing investment dollars is often the number one priority for entrepreneurs when starting a business. Many will seek outside support—angel investors, personal investors, venture capitalists, and peer-to-peer lenders generally top the list. However, each “type” of investor brings a different level of risk — and, let’s be honest, not all businesses are attractive to investors. You may need to fund the enterprise on your own.

Are you looking to start your own business? Have you thought about business insurance? Small business insurance is one of the most important and beneficial steps you can take to protect you and your business. Small businesses of any kind—food trucks, wedding photographers, estheticians, caterers, and everything in between—are susceptible to risks that can carry a hefty price tag.

Ongoing financial planning and forecasting are critical for business growth. But as a small business owner, it can be difficult to do any of this thoroughly and efficiently. Maybe you’re not a numbers person or feel that it takes time away from you actually running your business. Now, managing and analyzing your business finances doesn’t have to be a frustrating process. In fact, by proactively looking for improvements, you can set yourself up for more effective and fruitful financial management.

When starting a new business, you’ll likely wear many hats. It isn’t unusual to act as CEO while also tackling marketing tasks and coordinating operations. As you find your footing and begin to scale, you might feel ready to hire a formal executive team. The right C-suite positions for your business will depend on your unique needs, budget, and long-term goals.

Employee retention, for both startups and established businesses, is more important than ever. More and more employees are leaving roles to join companies that offer greater flexibility, increased benefits, higher pay, or even a more mission-driven culture. All of these benefits are rooted in the need for employees to feel valued and believe that the company’s success will lead to their success.

Are you starting a business? You’ll need more than a good idea. There are legal, tax, financial, and strategic factors to consider. Not to mention the mental and emotional impact of being an entrepreneur. As you begin your startup journey—consider the following tips to set your business up for success. Need help tracking your progress? Download our free Startup Checklist and review the complete guide for starting a small business. 1.

97% of business owners say that online business reputation management is important. However, most business owners are dissatisfied with their internet presence. In the eyes of consumers, your brand represents who you are. Your social proof, influence, and financial standing suffer if you don’t safeguard your reputation and brand image. So, how do you protect and improve your online reputation?

97% of business owners say that online business reputation management is important. However, most business owners are dissatisfied with their internet presence. In the eyes of consumers, your brand represents who you are. Your social proof, influence, and financial standing suffer if you don’t safeguard your reputation and brand image. So, how do you protect and improve your online reputation?

The pandemic has upended our perception of remote work. More professionals than ever before are spending time working from home and even working while traveling. This creates a unique opportunity for entrepreneurs looking to start an Airbnb. Before you jump into starting your own vacation rental business, you’ll need a business plan. This article will cover the steps to create your Airbnb business plan, along with some tips to run it successfully. Need more guidance?