My guest of the week is a Certified Director of Operations and Profit Strategist. After over a decade in corporate, climbing the proverbial ladder, Stephanie decided to branch out and work one on one with small businesses. She helps solopreneurs create business goals, outsource a task, streamline their operations or implement a technology solution. She basically helps them create a measurable impact on your organization. Her name is Stephanie Hill-Manuel.
We will do a 2 part interview series because Stephanie has so much knowledge to share. We could not cover properly the finances and budgeting for small businesses in just 1 interview.
This first part is about budgeting for small businesses, tips and mistakes to avoid.
Next week: we will address the profitability aspect of a business. How to make sure your business is profitable and take cost-effective actions?
- What compelled you to become an entrepreneur?
- The desire to control my own money, time and impact.
- Which financial challenges do entrepreneurs face when they are launching their businesses?
- Replacing their income
- Saving for taxes
- Saving for retirement
- Dealing with fluctuations in income
- Accounting vs budgeting: what’s the difference?
- Do you see many differences between budgeting for big corporations and one-person businesses?
- Can you give 3 tips to help anyone who wants to get their finance and their budget right from the start?
- Can you tell us according to you what are the main mistakes that entrepreneurs make regarding their finances?
- What do you think is the best way to budget for your 1-person business (especially a service-based business/no inventory needed)?