Every entrepreneur knows that managing your finances effectively is one of the most important parts of running a successful company (even if it isn’t always fun!)
But… we know that financial management as a start-up can be well… daunting. To say the least 😩
This is where we come in.
Here are 3.5 of the MOST important lessons that we have learnt from helping dozens of start-ups scale their businesses by getting their financial management under control.
Lesson 1: Know Your Numbers 📊
Understanding your financial statements is crucial. You HAVE to be extremely familiar with your numbers, and you can use tools to make that nice and easy for you.
Lesson 2: Create a budget… and STICK TO IT! 📝
Trust us… we know just how easy it can be to skip the budgeting phase as a new start-up.
HUGE MISTAKE! All the best, and most profitable start-ups have a rock solid budget, and have a system in place to make sure that it is followed (this is something we can help you with at jfk.finance 😉)
Lesson 3: Keep on top of your financial compliance 🧾
Financial compliance has several facets including tax compliance, internal filing & documentation of legal documents, and overviews of contracts or NDAs.
When you apply for investor finance, it’s likely that they will ask you for a lot of documents and information, and it’s important that you’re prepared.
For all of the startups that we work with at jfk.finance, we help to develop, or even run, a bulletproof financial compliance system to keep everything in order – so you feel confident answering financial questions on the spot.
BONUS TIP: Seek professional help! Listen… running a successful start-up is hard enough as it is, without the huge burden of accurate financial management on your shoulders!
We can help you to build a highly successful financial management system within your business, through done-for-you financial reporting, projections and more.
Send us a message and we can have a chat about your start-up’s finances! 🎯
We have created a free survey for CEOs, covering every aspect of your financial management. Click on this link (–> survey: https://lnkd.in/ee947AJB) to check it out!
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