Yes. They should be responsibile for identifying opportunities to expand the company's products or services as well as being responsible for identifying any risks to current products or services and identifying ways to capitalise on the things that already are making the company money. They sh...
I love this question! Thank you for asking it. If you don't mind, once you finish I would love to know more about your startups and what led you ask this question. No judging, but everything is a learning opportunity - I guess, hence we're both here. My name is Humberto, although I now run a h...
Evaluating a prospective investment requires getting to know a company over time. There are four main stages of evaluation: a) The “first read” (which can be an instant reaction to determine whether the deal matches the firm’s strategy), b) The first meeting (in which the team can be evaluate...
This is a great question. The world of accounting/bookkeeping can be a confusing array of options for non accountants. Let's address the software question first. Let me start by saying that my firm is relatively agnostic to software, we work with dozens. I'm familiar with Xero and my firm ha...
Let others do the heavy work: use a software solution. There are many out there, so start with exactly what you need to know (the information you need to have available comes first, then you determine what and how to track). Do some research on the available software and then call up a few compa...
Hi, what a great question. I can see that you're trying to figure out how to maximize the value of the business by putting yourself in the buyer's shoes. I've been evaluating small and medium sized business since 2009 and I've helped to sell hundreds of them. Check out www.HowToSellMyOwnBusine...
Wow! Good for you! It looks like you are on the right track. I have been part of several startups and have launched and failed some myself as well and learned from the experience. I have also helped raised for startups. I won't necessarily speak to the financials, but your question got me thinki...
Work with your Tax Preparer. I'd suggest H&R Block Executive Tax Services to ensure all your filings are correct.
I'm going to answer you with my own experience. The way you mentioned to divide the expenses makes total sense and it's consider the "rational" thing to do. I have seen it work many times and it's what many would consider "fair". The problem (and this is counterintuitive) is that we are humans w...
One thing you might consider is sitting down with a CPA or financial advisor for an hour or two. They might have the experience to go over your books and quickly spot issues that are holding you back. If you can't find someone like that willing to help you then consider reaching out to a profes...