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Business owners help please.

 
Anonymous Coward
User ID: 2847074
United States
02/15/2012 01:31 AM
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Business owners help please.
Hi,

I'm about to start a local business and would like a ask a couple questions. The only one I can think of off the top of my head is simple.

What is the money in your business plan called (the technical term) for extra money you add into your total budget for unforeseen expenses, and/or slow business when you first start?

Ty in advance.
Jammer

User ID: 4141935
United States
02/15/2012 01:39 AM
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Re: Business owners help please.
Hi,

I'm about to start a local business and would like a ask a couple questions. The only one I can think of off the top of my head is simple.

What is the money in your business plan called (the technical term) for extra money you add into your total budget for unforeseen expenses, and/or slow business when you first start?

Ty in advance.
 Quoting: Anonymous Coward 2847074


Start up capital or venture capital if you have investors or partners. The other is called equity capital.

here's a link that explains...

[link to money.howstuffworks.com]
Your VILLAGE called, their IDIOT is missing.

Your IDIOT called, their VILLAGE is missing.
Anonymous Coward
User ID: 10401141
United States
02/15/2012 01:40 AM
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Re: Business owners help please.
Well

You have your cash at hand, which is normally the bank account - petty cash - and anything that can be converted to cash immediately.

But in your case, the money you are talking about is your operating budget.

You should have your operating budget set before you even consider doing any business. It should include everything you are "willing to lose".

Your Operating cash flow, will determine how much money is in your coffers. But at no point should you allow yourself to get under your operating budget.
Anonymous Coward (OP)
User ID: 2847074
United States
02/15/2012 01:41 AM
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Re: Business owners help please.
ty guys!
Anonymous Coward
User ID: 10763005
Canada
02/15/2012 01:41 AM
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Re: Business owners help please.
Well

You have your cash at hand, which is normally the bank account - petty cash - and anything that can be converted to cash immediately.

But in your case, the money you are talking about is your operating budget.

You should have your operating budget set before you even consider doing any business. It should include everything you are "willing to lose".

Your Operating cash flow, will determine how much money is in your coffers. But at no point should you allow yourself to get under your operating budget.
 Quoting: Anonymous Coward 10401141


+

And seriously, if you cannot open the business and run it for a full months (at least) without making one dollar, then you shouldn't even start.
Anonymous Coward
User ID: 1232279
Canada
02/15/2012 02:24 AM
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Re: Business owners help please.
Well

You have your cash at hand, which is normally the bank account - petty cash - and anything that can be converted to cash immediately.

But in your case, the money you are talking about is your operating budget.

You should have your operating budget set before you even consider doing any business. It should include everything you are "willing to lose".

Your Operating cash flow, will determine how much money is in your coffers. But at no point should you allow yourself to get under your operating budget.
 Quoting: Anonymous Coward 10401141


+

And seriously, if you cannot open the business and run it for a full months (at least) without making one dollar, then you shouldn't even start.
 Quoting: Anonymous Coward 10763005



This is kinda retarded....
The point of starting a business is to fill a need already prevalent in the marketplace.

When i started I had 1500$ and a mortgage of 680/mo 15 years later we are still at it, mortgage is a lot more and there has been a lot of somehow.

Make sure you PAY THE GOVERNMENT... on time all the time... but your licenses pay your taxes even if you go without to do it.

Owning your business means you are chief cook and bottle washer, no job is too small for you to do and do right every time.

Your staff aren't your friends, they are the workers.. Treat them well, but they are staff. If they can't do the job send them on their way. Keep emotion off the table.

There is a lot more, but this is a start. Good Luck

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