Expert Advice

Your problem statement is the heart of your startup idea. It’s what intrigues people. Here's how to write the best business problem statement

Building solid financial statements starts with digging through all of the financial transactions in all of our accounts. In our example, we'll do this with a spreadsheet but you can use your accounting software to comb through your financial records and do the same thing.

Accounting in startups — can't live with it, can't grow without it! Let's dive into the gritty details of accounting for a startup to cover our bases and get ahead before our numbers come up short.

It’s not uncommon for a first-year startup to be constantly adjusting the numbers and watching the forecasts swing all over the place on a regular basis. Forecasting isn’t a one-time thing, especially for startups. We should be updating this forecast constantly as we get more and more data about how our business will perform.

When things are going well — getting funding, bringing in high revenue — everybody loves you. But when things go south, no one is around. Is there a way this can be avoided altogether?

There is danger in expecting too much from our Startup when we think we should get additional funding because the business is growing and it will merit us more opportunities. Reality check: things don't work this way.

Although rejection can leave us feeling hopeless, knowing that there is a positive side to it can give us hope. If we can agree that rejection sucks and is a part of life, we should also agree that there are ways to make rejection benefit us.

Having lots of capital does not mean success right away. You see, it’s not all about having a lot of financial resources. You gotta have skills, connections, and the right amount of luck too! So, how much money do you actually need to scale your business?

The CEO title bears a lot of responsibility. It’s easy to get the title, in fact, anyone can become one — but do you have the right qualifications and enough experience to be called a CEO?