Entrepreneurship isn’t perfect! It’s exciting, messy, twisted, fun, and much like a motorcycle ride. So worth it.
This show is about helping people build businesses that allow them the freedom to live more, work less – and create the life they are meant to live.
One of the top reasons that always shows up for business failure is the lack of financial projections. Most small businesses are started out of a need, something you want that your job cannot give you. Whatever the reason, most people start the business without any plan, other than to sell something and make money. I did not love the numbers either. Of course, I wanted to make money. Is it not why you start your business? The only numbers I loved were those on the deposits in my bank account. If you do not like working with spreadsheets and preparing financial projections, you can hire someone to do them for you or you have to find a way to manage the cash in and cash out process for yourself. If you are not borrowing, I do not care how you do it, but you have to understand the cash flow process. When is cash coming in and when is it going out. In other words, when does the money from sales go into your bank account and when are your bills due for payment? Listen in as I go into a bit of a rant, but this is keeping so many businesses from success. I want you to succeed. If you do not take control of your cash flow, you are setting yourself up for failure. The process can be easier than you think. I know. Formal financial projections have never been my thing either. It does not stop me from looking at my numbers. We fall in love with so many other things, why not your cash flow numbers?
In 2008, with less than five hundred dollars, I launched Rivera Business Development. I did it because of the belief that entrepreneurship could provide the means to rise above one’s circumstances — and it does.
Now I want to help you in your entrepreneurial journey.