YourBiz Financial Services, Inc.
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FAQ's: Top Start-Up & Small Business Risks
 
Below are the top Risks facing start-up and small business owners and how YourBiz Financial Services, Inc. can help you avoid these common pitfalls. 
 
Q: What rate of start-up businesses fail in the first year and why?
A: 80% of new businesses fail each year, according to the Small Business Administration. Many of these entrepreneurs lose their life savings, years of hard work, and the dream of being their own boss.   Why? The answer is simple...most entrepreneurs try to perform all aspects of their business even when they are not knowledgeable of every area.  Most entreprenuers think they can do the advertising, financials, etc.  However, most businesses fail because they don't hire professionals to deal with the financial aspects of their business.  No one can do everything well, so why not ensure success by letting experts assist you with the financial aspects of your business?  This allows you time to focus on creating your vision and peace of mind. 
 
YourBiz Financial Services, Inc. is the partner you need to assist you in determining effective pricing, whether to get business loans or use personal monies to start, expense management, billing and collections, bookkeeping, business plans, etc. Remember: A business without a plan is a business without a future!!
Q: What should my price points (or pricing) be?
A: Know your Niche!  Selling is educating! And the more you know, the better an educator you'll be.  Once your know your niche you need to ensure you perform enough market research to determine what your price points will make your business a success.  YourBiz Financial Services, Inc. can help you do this efficiently and effectively the first time. 
Q: Should you use personal funds to start your business or get a business loan?
A: All start-up businesses will require some amount of personal funds to get started.  The question becomes how much of "your money" should be used to start the business and how much should come from a financial institution or investor.  YourBiz Financial Services, Inc. can perform cash flow analysis for you that will lead you to an objective decision about whose money to use and how much of it.  There are several variables that go into this analysis, such as; amount of funds needed, interest rate, break-even point, pricing model, etc.  Contact us to get started!