The success of your company hinges on how you attack the second quarter of 2017. Are you going to remain on autopilot or are you going to work towards greatness?
The key to success, before the start of any quarter, is to accurately and effectively outline your key 90-day goals. These goals should be completed both at the personal level as well as at the company level. Every team member in your organization should have second quarter goals, and each individual goal should directly benefit the company-wide goals you also set.
TheWaveVR is a virtual reality platform that helps music lovers view, host, and socialize over shows and concerts anywhere and at any time. It's a global platform that promotes the community surrounding music, only this time, the company does it with cutting-edge virtual reality technology.
The business growth life cycle has five phases. However, not many are familiar with the unique challenges that come with a growing business.
Your company’s cash flow is as important as blood. Without an inflow of cash - whether it be a large lump sum or a smaller and more consistent influx - your company is dead in the water.
But I’m preaching to the choir. You know as well as I do about the importance of working capital, operating cash flow, and operating leverage. The question, however, is “how do you generate capital when you’re a startup focused on growth?
Well, you already understand the value of a friends and family round, angel investors, and venture capital funds. You’re a startup! Investment rounds are your forte. But there are, of course, many other financing options to help you with funding.
A company's cost of customer acquisition - or CAC - is the single financial metric above all else that determines its fate. Customer acquisition cost is the average amount of dollars spent in order to onboard a new customer.
CAC can be calculated by dividing the total costs spent on acquiring customers by the total number of customers acquired for a specific time period. If a company spends $100 a month and it acquires two customers per month, for example, the business's CAC is $50.00.
It's easy to see the importance of the cost of customer acquisition metric. Lowering the per-customer cost increases your profits and creates a more efficient business. A high per-customer acquisition cost, conversely, can make a business insolvent. From a financial perspective, then, how can you reduce your CAC so that you build a better business?
Dot Squirrels is a bit of an anomaly. Navigate to the company's Angellist profile and you'll see that the business is made up of developers and that, "yeah, that's pretty much it." I'm not trying to keep things short, that's literally what it says. Straight from the horse's mouth.
But leaving it at that would be a disservice to the business's innovative approach to web development and to our client, co-founder and CTO Kevin Cogill.
Dot Squirrel is a web development company that works for such clients as Comcast, Warner Bros., Sony Electronics, the World Poker Tour (WPT), and more. The dev shop, for example, created a custom Wordpress theme for Sony Electronics, giving their client a responsive design that balanced intuitive content management with near military-grade security and scalability.
The potential of your business is important to any venture capitalist. All VC companies make big bets in hopes of an abnormal return.
However, even if a VC is interested in the future performance of a company, they’ll certainly want to know about your past performance. It’s all about due diligence.The past is an indication of future success, and if you’ve had a rocky past, it’ll be harder to convince a venture capitalist that you’ll have an idyllic future.
VC firms will pour over your financial statements in an attempt to better understand company performance and the leadership of its senior staff. For this reason, it’s important to understand what a venture capitalist looks at when analyzing a company’s financial performance.
We’re in the business of helping startups grow. We use our CFO-level knowledge and team of dedicated accountants to guide client companies through their entire product lifecycles, from introduction to maturity.
However, the fact of the matter is that in order to accelerate business growth, many of our clients raise money or intend to jump on the VC track. We don’t need to harp on the importance of cash for your business. It doesn’t matter if you’re a startup with an MVP or a growth company looking to expand operations. All businesses can use a healthy influx of cash.
Yes, business taxes aren't due until mid-March, but 1099s should already have been sent and you should use February to gather the necessary business information for tax filing. Don't worry, our clients are covered and we're already leading the process for you. However, if you haven't found a financial partner for 2017, or if you're interested in understanding the tax information for your business, we're here to help.
We've listed the key pieces of information every business owner should have on file in order to file taxes properly and on time. For more, continue reading below or reach out to us directly by filling out our contact form.
Sean and his company launched in Washington, D.C., in 2011, and has since expanded his offices and his team to include both New York City as well as Medellin in the District of Columbia. Whenever a company or its founder goes international, it's important to put the right controls in place and comply with all the necessary tax laws. This is where Xcelerate Financial has been able to help.
But first, more on Sean and Mobility Labs, both of which are doing some pretty amazing and socially-conscious things.
Mobility Labs was created for one specific reason: to help education and social impact organizations develop effective and sustainable technology tools and strategies. Sean partners with purpose-driven organizations, many of which are in the education or non-profit space, and takes part in web development, web design, systems administration, technical training, and the building of educational software.
Taxes are confusing, to say the least. April 15, for individual tax filers submitting their personal tax returns, has become a day of dread. And that’s just for the lucky people filing a few straightforward forms.
For businesses and business owners, tax day can be an even more daunting event. And it’s almost as if the IRS actually has a sense of humor, because the cutoff date for business tax filings is the last day of March, meaning that there’s even less time to prepare a greater amount of documents and moving parts.
When it comes to owning and operating a business, one of the most used sets of forms are the litany of 1099 tax forms.
You’re familiar with the terms. You salivate when you hear people talk about “cost per acquisition (CPA)” and “digital branding.” You know that online marketing is the key to small business success.
It goes without saying that the point of an online marketing strategy is to grow a customer base and build a sustainable business. It’s all encompassing. With that in mind, let’s look at three marketing strategies and combine them into one, all-inclusive, digital approach.
If you haven't heard of Honey, you should. The web browser plugin slash money saving machine is growing to be one of the most popular tools on the Internet.
Do you enjoy saving money? Great! The Honey plugin can help.
Honey is a technology company that provides greater savings for consumers across the entire web. Their plugin automatically finds and applies coupon codes while you shop online.
The R&D tax credit has been around for quite a while. However, until recently, the credit was only available for larger companies that were profitable. Startups were SOL. But now, recent changes have made it possible for small companies without corporate profits to claim the tax credit.
This means that technology startups and other small companies that conduct research and development can receive the credit.
But first, what is the R&D tax credit exactly, and how can it benefit your business?
To say that Subtractive is a stalwart of the Los Angeles production scene would be a massive understatement.
In fact, after boasting almost twelve years of business from founders Kyle Schember and Ryan Stuit, their production company now creates media content and experiences for high-powered clients such as RedBull, HBO, Google, Coachella, Fox Searchlight Pictures, the Discovery Channel, and more.
Subtractive was founded on the idea that genuine forms of creative expression result in success. Schember and Stuit are proof that creative passion can be turned into a massively successful business. There's a lot we can all learn from their company.
First principles is an idea that describes the fundamental concepts or assumptions on which a theory, system, or method is based. It’s a basic, foundational, self-evident proposition that can’t be deduced from any other assumption.
The converse of this is analogous thinking. Basing an idea on an analogy means that you’re using an existing idea to formulate your opinion.
As fellow PayPal mafia member Peter Thiel would say, thinking with first principles is going from “0 to 1,” while analogous thinking is going from “1 to N.”
We live in a litigious environment. Companies and people alike are willing to enter legal battles over things large and small. For startups with limited resources, this can cause a lot of problems.
However, if you run a startup company, you know that speed is key. You have to hustle and run fast if you want to succeed.
These universal truths combine to create situations where startups are caught with their pants down. No, not literally, businesses don’t have legs. But it causes many companies to overexpose themselves while they focus on growth. The results can be catastrophic.
It’s important, then, that you legally protect you and your startup from day one. Take a leaf out of Nassim Taleb’s book and assume that the worst events may actually happen. Always hope for the best, but make sure you prepare for the worst.
We're excited this month to highlight a local Los Angeles entrepreneur, Austin Kevitch of Brighten Labs, Inc.
Austin came to us after raising $1 million for his innovative app Brighten, a social app that lets users send anonymous compliments directly to their friends and family. The app spreads positivity and happiness, and Austin wanted us to help him reach as many people as possible with our business insights and financial controls.
The goal of Brighten Labs was to make the world a better place and brighten someone's day, and we were delighted to partner with Austin and his company's mission. Since its inception in 2013, the app has grown to touch hundreds of thousands of people, employs eight people here in Santa Monica, California, and has plans to expand in the near future.
Business growth is hard to achieve and the current business environment makes it even harder.
During times like these (and at all other times, too), it’s important to keep a hawk’s eye on your financial runway and manage your cash flow so you have the time - and money - to achieve business success.
To help, we’ve outlined the essential tips you need to extend your financial runway and give your business the gift of cash flow.
There’s an epidemic occurring where for-profit business owners aren’t familiar with the very financial metrics that drive the success of their companies. If you run a business with the goal of earning a profit, among other things, wouldn’t it make sense to understand the business levers that result in more cash?
Your financial data tells a story. It’s the tale of your company's efficiency and effectiveness. Within each fact and figure is a nugget of information that can help you build a better business.
And most important of all is the insight gleaned from a business’s margins.