IV. Finance

A. Acquisition of Real Assets for Startup

B. Financial Literacy

Financial literacy is the possession of the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources. 

As an entrepreneur, your budget should always be centered around your long- and short-term financial goals according to their order of importance. Gaining mastery of one's finances as an individual and as an entrepreneur is an important aspect of financial prosperity and building a successful business.

1. Accounts Receivable (Days Outstanding-setting Terms)

2. Billing

3. Collections

4. Types of Invoices

5. Managing Commercial AR

6. Best Practices for Invoicing Customers

7. Corporate and Maintenance Company Invoicing

7. Billing Contact Information Form

8. Call Sheet

9. Vendor number Request

10. W-9

11. Monthly electronic Statements

12. Payment at Time of Service

13. Direct Payment Invoice

14. Skipped Payment Notice

15. Credit Card Processing Tips

16. Payment Online Information

17. Demand Letter

18. Automatic Debit & Credit Card Authorization Form


19. Key Performance Numbers 


  Sales, Gross Profit, Percent of Sales, Net profit. What you own versus what you owe. Quick Ratio and so on. It isn't what you make but what you are able to keep that counts. 



20. Financial Sufficiency 


 Insufficient sales and/or insufficient profitability are the two main causes of business failure within 5 years of opening. You have to make and keep enough money to stay in business. Keeping your accounts organized and data entered into the CRM will enable you to track expenses, revenues and generate performance reports like the Profit & Loss Statment. Being financial sufficient means that you make enough to keep on keeping on and that what you make is worth the effort you put into the business. Otherwise, you may as well be on a hamster wheel, turning the wheel but getting nowhere. 




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5355 Northland Dr. NE Suite 210

Grand Rapids MI 49525

Tel. No. 616.914.0720