Welcome to my Resources page! This is your one-stop hub for all things business.
Here you will find a collection of financial tools and calculators to aid your decision-making.
Don’t miss out on the latest videos for up-to-date business insights. And of course, my comprehensive checklists are designed to guide you through every step of your business journey.
Dive in and let’s achieve your business goals together!
Tools and calculators
Explore our new Tools section at where we’ve curated a collection of financial calculators to empower your business decision-making.
These tools, ranging from credit card calculators to loan comparison tools, are designed to provide you with the insights you need to manage your finances effectively.
Whether you’re planning to refinance your car, pay off credit card debt, or compare loan options, our calculators are here to guide you.
Checklists
Here, I’ve curated a series of comprehensive guides to help you navigate the complex world of business.
From starting your own venture, understanding your funding needs, to building your business credit, and even managing your finances, these checklists are your step-by-step companions.
I’ve designed each one to be practical and easy to follow, covering a wide range of business aspects. Consider these checklists as your personal roadmap to entrepreneurial success.
Business Startup Checklist
- Identify Your Business Idea: Start by defining what your business will do and what problems it will solve.
- Market Research: Conduct market research to understand your potential customers, competitors, and market conditions.
- Business Plan: Write a business plan outlining your business strategy, financial projections, marketing plan, and more.
- Business Name: Choose a unique and meaningful business name.
- Legal Structure: Decide on the legal structure of your business (sole proprietorship, partnership, corporation, LLC, etc.).
- Register Your Business: Register your business with the appropriate state agency.
- Federal Tax ID: Obtain a Federal Tax ID or Employer Identification Number (EIN) from the IRS.
- State and Local Taxes: Register for state and local taxes.
- Business Licenses and Permits: Identify and obtain any necessary business licenses and permits.
- Business Location: Choose a location for your business, whether it’s a physical storefront, office, or online.
- Business Insurance: Obtain the necessary insurance to protect your business.
- Business Bank Account: Open a business bank account to keep your business finances separate from personal finances.
- Business Credit Card: Consider getting a business credit card to help manage expenses and build business credit.
- Accounting System: Set up an accounting system to track income, expenses, and taxes.
- Business Website: Create a professional website for your business.
- Branding: Develop a logo and overall brand for your business.
- Marketing Plan: Develop a marketing plan to attract customers.
- Social Media Presence: Set up social media profiles for your business to engage with customers.
- Business Phone System: Set up a business phone system, even if it’s just a dedicated cell phone number.
- Hire Employees (if necessary): If you plan to hire employees, you’ll need to follow additional steps for hiring and payroll.
- Launch Your Business: Once everything is in place, launch your business and start attracting customers!
Business Funding Checklist
- Understand Your Funding Needs: Determine how much funding you need and what you’ll use it for.
- Business Plan: Prepare a detailed business plan that outlines your business model, market analysis, marketing strategy, financial projections, and funding requirements.
- Financial Statements: Prepare or update your financial statements, including income statement, balance sheet, and cash flow statement.
- Credit Score: Check your personal and business credit scores. Lenders often consider these when deciding whether to approve your loan application.
- Explore Funding Options: Research different types of funding options such as loans, grants, venture capital, angel investors, crowdfunding, etc.
- Prepare a Pitch: If you’re seeking funding from investors, prepare a compelling pitch that explains why they should invest in your business.
- Loan Application: If you’re applying for a loan, complete the application and gather any required documentation.
- Business Valuation: If you’re seeking equity investment, you may need to determine the value of your business.
- Collateral: If you’re applying for a secured loan, identify assets you can use as collateral.
- Legal Documents: Gather any legal documents that lenders or investors may require, such as your business registration, contracts, leases, and licenses.
- Meet with Potential Lenders/Investors: Schedule meetings with potential lenders or investors to discuss your funding needs.
- Negotiate Terms: If a lender or investor is interested in providing funding, negotiate the terms of the funding agreement.
- Funding Agreement: Review and sign the funding agreement, ensuring you understand all terms and conditions.
- Receive Funds: Once the agreement is signed, you’ll receive the funds.
- Use Funds Wisely: Use the funds according to your business plan and keep track of all expenditures.
- Repayment Plan: If you received a loan, make sure you understand the repayment schedule and make payments on time.
Business Credit Building Checklist
- Establish Your Business: Ensure your business is legally registered, has a federal tax ID number (EIN), and a dedicated business phone number and address.
- Business Bank Account: Open a business bank account to separate your business and personal finances.
- D-U-N-S Number: Apply for a D-U-N-S Number from Dun & Bradstreet. This unique identifier is used to create your business credit file.
- Business Credit Card: Apply for a business credit card to start building your business credit history.
- Trade Credit: Establish trade lines with suppliers and vendors that report to the business credit bureaus. Pay these invoices on time or early.
- Business Loan or Line of Credit: Consider a small business loan or line of credit from a lender that reports to the credit bureaus.
- On-Time Payments: Make all of your business payments on time. Late payments can negatively impact your business credit score.
- Monitor Your Credit: Regularly check your business credit reports to monitor your progress and spot any errors.
- Limit Credit Usage: Try to use no more than 30% of your available credit to maintain a good credit utilization ratio.
- Update Your Information: Ensure all information is up-to-date with the business credit bureaus.
- Dispute Errors: If you find errors on your business credit report, dispute them immediately.
- Maintain Good Personal Credit: While separate from business credit, your personal credit can sometimes be considered by lenders and vendors.
- Grow Your Business Responsibly: As your business grows, continue to manage your finances responsibly. This includes not taking on more debt than you can handle.
- Review Financial Statements: Regularly review your financial statements to ensure your business is in good financial health.
- Seek Professional Advice: Consider seeking advice from a financial advisor or credit professional to help you build your business credit.
Business Marketing Checklist
- Define Your Marketing Goals: Determine what you want to achieve with your marketing efforts.
- Identify Your Target Audience: Understand who your customers are and what they want.
- Competitor Analysis: Identify your main competitors and understand their marketing strategies.
- Unique Selling Proposition (USP): Define what makes your business unique.
- Brand Identity: Develop your brand’s visual identity and voice.
- Website: Ensure your website is professional, user-friendly, and optimized for search engines.
- Content Marketing Strategy: Plan the creation and distribution of valuable content to attract and engage your audience.
- Social Media Strategy: Choose the right social media platforms for your audience and plan your approach.
- Email Marketing Strategy: Build an email list and plan regular, valuable communications.
- Search Engine Optimization (SEO): Optimize your website and content to rank higher in search engine results.
- Paid Advertising: Consider using paid advertising like Google Ads or social media ads to reach a larger audience.
- Public Relations (PR): Develop relationships with media and influencers to gain exposure.
- Partnerships and Collaborations: Consider partnering with other businesses for mutual benefit.
- Analytics and Reporting: Regularly review your marketing efforts to understand what’s working and what’s not.
- Continuous Improvement: Regularly update and improve your marketing strategy based on your results and changes in the market.
Business Financial Management Checklist
- Open a Business Bank Account: Separate your personal and business finances.
- Set a Budget: Plan your income and expenses to manage your cash flow.
- Choose an Accounting System: Decide whether to use manual accounting, accounting software, or hire an accountant.
- Track Income and Expenses: Keep a record of all business transactions.
- Set Up Payroll: If you have employees, set up a payroll system and understand your tax obligations.
- Understand Your Tax Obligations: Know what taxes your business needs to pay and when they are due.
- Regular Financial Reporting: Prepare income statements, balance sheets, and cash flow statements regularly.
- Monitor Key Financial Ratios: Keep an eye on profitability, liquidity, and efficiency ratios.
- Plan for Growth: Use your financial data to forecast future performance and plan for growth.
- Manage Debt: If you have business loans, manage them effectively and understand your repayment obligations.
- Save for Emergencies: Set aside money for unexpected expenses.
- Invest in Your Business: Use your profits to invest back into your business.
- Regular Financial Reviews: Regularly review your financial plan and adjust as necessary.
- Compliance: Ensure you are compliant with any financial regulations relevant to your business.
- Seek Financial Advice: Consider seeking advice from a financial advisor to help manage your business finances.
Loans for Bad Credit Checklist
- Understand Your Credit Score: Obtain your credit report and understand your credit score.
- Identify Potential Lenders: Research lenders and loan services that offer loans to individuals with bad credit.
- Compare Loan Terms: Compare interest rates, repayment terms, and fees of different loan options.
- Check Lender Requirements: Check the specific requirements of each lender. Some may require collateral or a co-signer.
- Prepare Your Documents: Gather necessary documents such as ID, proof of income, and financial statements.
- Apply for the Loan: Submit your loan application, ensuring you meet all the lender’s requirements.
- Consider a Co-signer: If possible, consider having a co-signer with good credit.
- Review the Loan Agreement: If approved, review the loan agreement thoroughly before signing.
- Repayment Plan: Create a plan for how you will repay the loan on time.
- Improve Your Credit Score: Make a plan to improve your credit score for future loans. This includes paying all debts on time, reducing outstanding debt, and not taking on too much new debt.
Business Credit Cards Checklist
- Understand Your Business Needs: Identify why you need a business credit card and what features are important to you.
- Check Your Credit Score: Your personal credit score often affects your eligibility for a business credit card.
- Research Different Cards: Look at different business credit cards to compare rates, fees, rewards, and benefits.
- Understand the Terms: Make sure you understand the interest rate, grace period, fees, and terms of rewards.
- Prepare Your Business Information: You’ll need your business’s legal name, contact information, industry type, business structure, and tax ID number.
- Prepare Your Personal Information: As a personal guarantor, you’ll need your personal contact information, social security number, and personal income.
- Apply for the Card: Submit your application online or over the phone.
- Wait for Approval: Approval may be instant, or it may take a few weeks.
- Understand Your Card’s Features: Once you receive your card, make sure you understand all its features and how to use them.
- Set Up Payment: Set up automatic payment to avoid missing payments.
- Monitor Your Spending: Regularly check your account to monitor your spending and spot any fraudulent activity.
- Use Your Card Responsibly: Try to pay off your balance in full each month and avoid maxing out your credit limit.
Net 30 Accounts for Business Checklist
- Understand Net 30 Terms: Net 30 means you have 30 days to pay the invoice in full after purchase or service rendered.
- Identify Vendors: Find vendors that offer Net 30 terms.
- Check Your Business Credit: Some vendors may check your business credit before extending Net 30 terms.
- Prepare Your Business Information: You’ll need your business’s legal name, contact information, industry type, business structure, and tax ID number.
- Apply for Net 30 Account: Submit your application with the vendor.
- Wait for Approval: Approval may take a few days or weeks.
- Make a Purchase: Once approved, make a purchase on Net 30 terms.
- Pay on Time: Pay your invoices on time. Late payments can hurt your business credit score.
- Monitor Your Credit: Regularly check your business credit reports to ensure your Net 30 accounts are being reported.
- Maintain Good Relationship with Vendors: A good relationship can lead to increased credit limits or better terms in the future.
- Gradually Apply for More Accounts: Over time, apply for additional Net 30 accounts to further build your business credit.
Business Credit Cards Using EIN Only Checklist
- Obtain an EIN: If you haven’t already, obtain an Employer Identification Number (EIN) from the IRS.
- Establish Business Credit: Start building your business credit history by opening trade lines with suppliers that report to business credit bureaus.
- Research Card Issuers: Look for card issuers that allow businesses to apply with an EIN only.
- Understand the Terms: Make sure you understand the interest rate, grace period, fees, and terms of rewards.
- Prepare Your Business Information: You’ll need your business’s legal name, contact information, industry type, business structure, and EIN.
- Apply for the Card: Submit your application online or over the phone, using your EIN instead of your social security number.
- Wait for Approval: Approval may be instant, or it may take a few weeks.
- Understand Your Card’s Features: Once you receive your card, make sure you understand all its features and how to use them.
- Set Up Payment: Set up automatic payment to avoid missing payments.
- Monitor Your Spending: Regularly check your account to monitor your spending and spot any fraudulent activity.
- Use Your Card Responsibly: Try to pay off your balance in full each month and avoid maxing out your credit limit.
Improving Credit Score Checklist
- Check Your Credit Reports: Obtain your credit reports from all three credit bureaus and review them for errors.
- Dispute Errors: If you find any errors on your credit reports, dispute them with the credit bureaus.
- Pay Your Bills on Time: Late payments can significantly impact your credit score. Set up reminders or automatic payments to ensure you pay on time.
- Reduce Your Debt: Pay down your existing debt, especially high-interest credit card debt.
- Keep Credit Utilization Low: Try to use no more than 30% of your available credit.
- Don’t Close Old Credit Cards: The age of your credit accounts is a factor in your credit score. Keep your oldest credit cards open, even if you don’t use them often.
- Limit New Credit Applications: Each time you apply for credit, it can cause a small dip in your credit score. Apply for new credit sparingly.
- Diversify Your Credit: Having a mix of different types of credit (credit cards, auto loan, mortgage, etc.) can help your credit score.
- Consider a Secured Credit Card: If you’re having trouble getting approved for a regular credit card, a secured card can help you build credit.
- Monitor Your Credit Score: Regularly check your credit score to monitor your progress and understand how your financial behavior affects your score.
Removing Negative Items from Credit Report Checklist
- Obtain Your Credit Reports: Get your credit reports from all three credit bureaus.
- Review Your Credit Reports: Look for any negative items that you believe are incorrect.
- Gather Evidence: If you believe a negative item is incorrect, gather any evidence you have to support your claim.
- Dispute Errors with Credit Bureaus: Write a dispute letter to each credit bureau that is reporting the negative item. Include your evidence and clearly explain why the item is incorrect.
- Follow Up: If the credit bureau agrees with your dispute, they will remove the item from your report. If they don’t agree, you may need to provide additional evidence or consider other options.
- Pay Off Past Due Accounts: If a negative item is correct but is due to a past due account, paying off the account could lead to the item being removed.
- Negotiate with Creditors: In some cases, you may be able to negotiate with creditors to have a negative item removed once you pay off the debt.
- Wait for Items to Age Off: Most negative items will be removed from your credit report after seven years.
- Consider Professional Help: If you’re having trouble removing negative items, you may want to consider hiring a credit repair company or consulting with a credit counselor.
Choosing the Best Business Structure Checklist
- Understand Different Structures: Learn about the different types of business structures (sole proprietorship, partnership, LLC, corporation, etc.).
- Consider Liability: Understand how much personal liability you’re willing to assume. Some structures offer more protection than others.
- Consider Taxes: Understand how each structure is taxed. Some structures allow you to avoid double taxation.
- Consider Future Needs: Think about whether you plan to raise investment, go public, or sell your business in the future. Some structures are better suited for these plans.
- Consider Control: Consider how much control you want to maintain over your business. Some structures require you to share decision-making with others.
- Consider Costs: Understand the costs of setting up and maintaining each type of structure.
- Seek Professional Advice: Consult with a business advisor, attorney, or accountant to understand which structure is best for your specific circumstances.
- Register Your Business: Once you’ve chosen a structure, register your business with your state and obtain any necessary licenses and permits.
- Obtain an EIN: Apply for an Employer Identification Number (EIN) from the IRS, regardless of your business structure.
- Review and Adjust: As your business grows and changes, you may need to change your business structure. Regularly review whether your current structure still meets your needs.
