Hamza Yousaf’s Post

🚀 Calling all first-time founders! Launching our "First Time Founder Series" to demystify the world of startup accounting and finance. First up: Setting Up and Managing Your Accounting 📊 As a founder, you're wearing many hats. But don't let accounting slip through the cracks! Here's what to focus on: - Set up a chart of accounts that makes sense for your business - Establish monthly financial processes. Keep it simple as long as you can - Understand your financials, keep and update a financial model - but only if you can get value from it - Understand your cash flow Remember: Solid financials = informed decisions = better chance of success! Stay tuned for more insights to help you navigate the financial side of your startup journey. Questions? Drop them below! #StartupFinance #FounderTips #Entrepreneurship

Financial Compass for Young Businesses: Why Startups Need a Budgetary System Let's face it, startups are all about hustle and innovation. But without a solid financial foundation, even the most brilliant ideas can struggle to take flight. This is where a budgetary system comes in - your financial compass, guiding you through the exciting (and sometimes unpredictable) startup journey. Why Budget? Here's the Magic: ✨ Keeps you on Track: A budget sets clear expectations for spending and revenue. You'll know where your money's going, identify potential roadblocks, and course-correct before it's too late. Prioritizes Like a Boss: Limited resources? No problem! Budgeting helps you allocate funds effectively towards activities that directly impact your goals. Investor Magnet: Solid financial planning demonstrates responsibility and transparency - essential qualities for attracting investors. Makes informed Decisions: Data-driven decision making is crucial. Budgets provide insights into your financial health, allowing you to make strategic choices with confidence. Budgeting for Startups: Lean and Agile ♀️ Startups don't need complex spreadsheets. Focus on a simple yet effective system that tracks income, expenses, and key financial metrics. Remember, your budget should be a living document, adapting as your business grows. Ready to take control? There are plenty of budgeting tools and resources available to help you get started. Let's discuss in the comments below! What are your best budgeting tips for startups? #startuplife #finance #budgeting #financialplanning #entrepreneur #vCFO RMSG & ASSOCIATES KNOWTAX

I've been inspired by Jason Hershman's new startup finance series and figured I'd share some collective wisdom for the entrepreneurs and founders out there. It's not entirely comprehensive, but here's a 10-step plan to get your financial narrative sorted out early. Ultimately, with the goal of launching a product that CUSTOMERS want, get more CUSTOMERS, keep CUSTOMERS longer, and earn more from your CUSTOMERS. The main thing to remember is CUSTOMERS. They're the ones you're making your product for, right? Here's a little sneak peek at how I think as a fractional CFO: the first four steps are all about figuring out what your CUSTOMERS are looking for and getting that initial part of your business just right (check out the four teal bullets for this part). The starting point is on you – those first four steps are key. After that, a fractional CFO can help guide you develop a financial plan to ensure your profitable and the business is sustainable, develop a financial narrative for investors on how operations impact return on investment, and how you'll control and monitor the performance of the business for potential expansion and investment. If you're interested, I’ve got free resources for you to check out on on my website at https://lnkd.in/eetSVCn9. Or book a free consultation and discovery with me. And just so you know, this blueprint is not just for startups. There are plenty of small-to-medium sized businesses that could do improve their opreations with a bit of structured planning. If you're looking to get your business's finances in line and make sure you're on the right track, let's talk! #StartupConsulting #FinancialPlanning #RevenueRick #RobynCG

‘Accounting is the language of business’ Warren Buffet This is one of my favourite quotes. Often business owners, especially in their earlier stages tend to look at accounting is about filing taxes and submitting accounts to Companies House. One question to ask ourselves is ‘what business decisions are being made from accounting?’. Our accounts provide us with a plethora of information. We can tell how efficiently the business is running, how much is owed to us, how much we owe, growth etc etc In my experiences of working with startups, the founders that become fluent in the language of accounting tend to be the ones that go further due to their ability to make better business decisions that are driven by numbers. Furthermore, investors and lenders speak the language of accounting - having an ability to converse in this way builds credibility. The dragons den is a prime example of this - when the dragons see that the founders don’t know their numbers, it’s often game over. #founder #ceo #startup

Most Startup owners can’t read their financials—and it’s holding them back. You can’t grow your business if you don’t understand the numbers that drive it. It’s time to take control of your financials. I’ve seen it time and time again—small business owners overwhelmed by financial reports. They rely on their team to handle the numbers and miss out on critical insights that could help their business thrive. But here’s the truth: you don’t need to be a finance expert to understand your financials. What you need is the willingness to learn and take ownership of your business’s future. One of my clients committed to learning their numbers, and within 6 months, they had more control over their business decisions than ever before. Here’s how you can learn to understand your financials: 1️⃣ Read Finance Books - Pick up a few beginner-friendly finance books. Start with the basics and build your knowledge. 2️⃣ Review Your Numbers Every Month - Don’t leave it to your finance team alone. Get into the habit of reviewing your financial reports monthly, so you’re always in the know. 3️⃣ Ask Your Finance Team to Teach You - Use your finance team as a resource. Ask them to explain the reports and metrics in plain language until you’re confident in reading them yourself. What’s stopping you from mastering your business’s financials? Start learning now, and in 6 months, you’ll know more than 90% of Startups. #financialliteracy #businessgrowth #SMBsuccess #entrepreneurship #cashflow 👋🏾 My name is Samuel Ajala, and I’m a fractional CFO for startups wanting to scale by improving cash flow. 👆🏾 Follow me for more insights on Startup, Scaleup, Cash flow, and Taxes. ♻ Repost this if other founders would find this helpful.

🚀 Ready to take your startup to the next level? 🚀 Introducing our new CPE course on the Earmark app: “Don’t Let Your Startup Fail – Essential Financial Tips For Entrepreneurs with Renato Villanueva.” This is a must-have for accountants and financial managers navigating the high stakes of startup success! Gain insights into: - The strategy used by Divvy to manage and forecast cash runway during scaling. - Proven approaches by Divvy and Parallel to maintain an effective cash runway. - Budgeting processes across different scaling stages of a startup. Learn from the best in the field with expert instructors Paul Barnhurst and Renato Villanueva Jr.. Enroll now and make more informed financial decisions: https://earmark.app/c/1747 #StartupSuccess #FinancialManagement #CPE #Entrepreneurship #EarmarkApp #Growth

👋 Hey Startup Founders! Ever wondered why some startups scale effortlessly while others struggle? The secret sauce is professional accounting! Here’s why you can't afford to skip it: 1. 📊 Financial Clarity: Know exactly where your money is going and coming from. No more guessing games! 2. 🛡️ Tax Compliance: Stay on the right side of the IRS. Avoid those nasty fines and penalties! 3. 💰 Funding Ready: Want to impress investors? Show them organized, accurate financials. 4. 🧠 Strategic Planning: Get insights that drive your business strategy. Plan smarter, grow faster! 5. ⏳ Time Efficiency: Let experts handle the numbers while you focus on building your empire. 6. 📈 Scalability: With a solid accounting foundation, scaling your business becomes a breeze. 💡 Ready to take your startup to the next level? 📩 Contact our COO Anshul Goyal at [email protected] for expert guidance! #StartupSuccess #BusinessGrowth #AccountingMagic #TaxCompliance #FinancialHealth #StrategicInsights #InvestSmart #ScaleUp #EntrepreneurGoals #CPAExpert

Forget December, for startup founders, the real year-end is closing the books! This month, we wear the (often stressful) CFO hat. Working with my CA, I realized there's so much founders need to consider. Sharing, some key aspects to keep in mind for a smooth financial year-end close & a fresh start next year! How do YOU handle your startup's finances? Let's me know in the comments below! #startuplife #finance #foundertips

In the early stages of a company, founders often prioritize product development, market fit, and scaling. But, one critical aspect that’s frequently overlooked is bookkeeping. 📊 Proper bookkeeping can be the difference between success and failure for a young company. In a recent episode of Tech Uncensored, Hessie Jones sat down with Tanvi Gupta, CPA, CA, Senior Manager in Assurance Services at MNP, to dive into the essential role bookkeeping plays in startups and small businesses. 🌟 As Gupta explains, “Bookkeeping is simply the process of recording financial transactions, documenting the flow of money into or out of a business.” But it’s more than just numbers, it’s about maintaining financial health, ensuring compliance, and enabling informed decision-making. 💡 🔗 Read more in our latest blog: https://hubs.ly/Q02LPMsq0 #Startups #SmallBusiness #Bookkeeping #Entrepreneurship