Crucial Money Tips for Entrepreneurs

Join our #CreditChat on Periscope, YouTube Live, Twitter, and Snapchat on Wednesday, July 19 at 3 p.m ET. In this chat we discussed financial  mistakes entrepreneurs can avoid, how to budget for launching your own business, how taxes will change, how to establish business credit, and more. The panel included: Kemberly Washington: Member of AICPA’s National CPA Financial Literacy Commission; Rod Griffin: Director of Public Education at Experian; and Christina Roman: Social Media Specialist at Experian.

We’re also featuring financial tips all week on Snapchat.

Questions We Discussed:

  • Q1: What are some key financial items entrepreneurs should consider when starting a business?
  • Q2: How should entrepreneurs separate business finances from personal finances?
  • Q3: What are simple tips for managing business cash flow?
  • Q4: What is a burn rate, and how is it measured?
  • Q5: How does the way a business is set up affect your taxes?
  • Q6: How do you establish business credit and how do you monitor your business score?
  • Q7: What are best practices for saving, spending and investing income back into the business?
  • Q8: What are signs that it’s time to expand and hire employees?
  • Q9: What metrics should an entrepreneur track to measure success?
  • Q10: What financial mistakes should entrepreneurs avoid?
  • Q11: Any final tips for entrepreneurs?

View the Complete Tweetchat via Storify:

Resources:

Planning an Entrepreneur’s Retirement via Wisebread

10 Tips From Bootstrapping Entrepreneurs via Wisebread

If you’ve never heard about #CreditChat, here is a brief overview:

Relevant chats on YouTube: